choose a product for which you are interested for which you are interested in creating a...

choose a product for which you are interested for which you are interested in creating a marketing plan. It can be a product that already exists, or one you would like to launch. (hair oil)

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Expert Solution

As the hairoil is a consumer related good and it easilu available everywhere, the marketing plan we would like to offer for the hairoil would be based on the differential strategy.

Following the trend of the differential strategy, our product Aroma Hair Oil would be offered for the best quality purpose and also for the customer segment of the market having higher income and would want a non sticky hair oil that would make their hair thick, lustourous and provide them beautiful growth for their hair. Working on the segment and the differential strategy of providing the quality, the four elements of marketing mix could be studied as below:

1. Product: The product wouls be offered with the highest value preposition and qualitative factors. With the best nature's elements and flower oils, this oil would help in making your hair better than ever because of its natural pigments and refined quality.

2. Price: Because of its quality, the price would be higher than the competitior's prices and it would be set as per what customers would percieve the same price.

3. Place: The oil would not be available at all shops and it would be made available at unique retailing stores for the essential oils and also for the high class beautycate products. We would use a direct channel and would own the retail stores to provide this product to the final consumer.

4. Promotion: At last, as the product is holding a higher value than others, the promotion would be through magzines and TV advertisements only for making sure the right customers are attracted for the availment of the same hair oil.

keosha answered 7 months ago

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