Business Market Assignment Essay Example | Topics and Well Written Essays - 1000 words

Business Market Assignment - Essay Example So, in order to reduce all those type of discrepancies, at the time of launching the product (Toepener) in the market of Canada, it is better to undertake the process of test marketing. It is one of the most renowned procedures of marketing used at the introductory stages of a product in a new market. By doing so, the actual performance of that specific product in those regions of the market might be analyzed and evaluated. Due to which, the target customers and the distribution system that might prove effective for Toepener may be evaluated. Side by side, the type of advertisement and promotional strategies required to increase the level of awareness of the target customers might also be analyzed. Thus, this process might present an entire list of activities and the duration of time and the strategy required (fat launch or narrow launch or dynamic launch) to introduce the new product (Toepener) in a new market (Canada). Then, it might be easier for the marketing managers to devise t he launching plan of Toepener within the regions of Canada. And the plan might also present positive results for the product (Toepener) within the markets of Canada. ... The product (Toepener) might be positioned in the market of Canada as an extremely trendy and hygienic product at a competitive price. It is done to attract the health conscious individuals comprising of a premium life style. Along with this, the product is mainly useful for those segments (customers) desiring to maintain a high living standard, which is entirely free from germs and pollutants. Therefore, only a niche category of customers might get attracted towards this brand s compared to others (Ferrell & Hartline, 2010). Apart from this, if such a technique of automatic shut- down after completion of the work might be implemented within Toepener, then such a distinguished feature of Toepener might surely be preferred by the target customers. This feature might prove extremely beneficial for the brand to enhance its reputation and market share in the market of Canada among other existing rival players. Side by side, the competitive prices of the product of Toepener is also anothe r vital strategy that enhanced its total sale and equity in the market of Canada among other rivals. Therefore, it might be portrayed that the strategy of presenting value-added products (Toepener) at a quite lower price may be effective for the market of Canada. This might help in enhancing the profit margin and brand loyalty of the products to a certain extent as compared to other contenders in the market of Canada. Along with this, it might also prove effective in positioning the product among many other substitute products in the market of Canada. Thus, to present the product (Toepener) in the market of Canada, the slogan might be, ‘live a healthy and germ less life’. It might surely