Question

Consider any shaver protector product (i.e a compact protection for your wet razor - protects the blades, hygienic, light and stable). Make a detail marketing plan for this product.

Answer 1

Answer-

{Assume that the Product is protective cover for razor which makes the razor water proof and easliy attach and detachable. }

Target audience or customer group- All the men ( and some women also) who use razor.

1- First of all we will conduct a marketing research among the razor users so that we can have an idea about their exact need & wants, their affordability, media they are most influence from, their buying place, and other important information.

Note- While doing the market research we have to segment our target market according to their age as the choices of different age people are different and the fact is that people from all age groups use razor except children.

2- After conducting marketing research with the help of the results of the research we then create/design/modify our product. Assume that we found out that especially young male are tired from the problem of rusting in the blades of the razor they used. As young male contribute a large part of the population therefore we have developed a product ( which is a protective case which can make the razor waterproof and it is easily attachable and detachable).

3- After we have done with the prouduct we have decide about the price for our product. As our product is in introduction stage we set a very low price so that we can easily reach out to more customers.

4- Again with the help of the results of marketing research we decide about our promotional plan. Assume that most of our target audience get to know about razor brands through television and news papers. So in this step we decided to hire an advertising agency to make a television ad for us. Additionally, we decided to advertise our product through social media marketing so that we can reach out to the large audience.

5- Assume that marketing research shows that target customers generally purchase razor from retail shops, and malls. So we decided to make our product available to retailers and in malls.