American Intercontinental University
Unit 4 Individual Project
MKTG 205 – Principles of Marketing
May 20, 2012
This paper will talk about the marketing strategy, the pricing strategy, and the distribution channels of the product Xtra. This will combine everything that has been taught about marketing though out this class.
PRICING and CREATING A PLAN
Marketing is to produce and to provide a product or service that consumers want or need. The product that is being marketed here is a laundry detergent Xtra. This will show the final plan of how it will be marketed to the consumers.
Definition of Marketing
The three sources that I used are the ...view middle of the document...
They make all types of products from house hold items to personal care products (Church & Dwight Co Inc. (CHD) Stock Description , 2011). By selling this product at a cheaper price it is competing with other companies that sell other laundry detergent at a higher price. Xtra is in competition with products like Sun Products Corporation, The Clorox Company, and Tide.
This force will have impact on this product because it is pressuring the company for prices that customers are looking for. If the company is unable to maintain price terms the customers could increase product purchases from competitors. This could harm the company’s sales and profitability (Church & Dwight Co Inc. (CHD) Stock Description , 2011).
The second market force is technological. Technological is the change in the results of the research. Kerin (2011) states, that technology is the third environmental force. Technology plays a big part in marketing a product. Technology plays a role in how laundry detergent is made. It is the big machines that mix the ingredients to make the powder and liquid detergent.
Church and Dwight Co Inc. conduct its research and development primarily at its facilities in New Jersey. Technology and basic research to develop different types of products with distinctive features are used and to maintain convenience and value to its customers. This type of force will impact Xtra because with the way technology is changing the company has to maintain the quality and the service of the product. This is why the company hires outside contractors for general research and development in areas beyond its expertise (Church & Dwight Co Inc. (CHD) Stock Description , 2011).
The third marketing force that will impact my product is regulatory. Regulatory is the fifth environmental force, according to Kerin (2011). Regulation consists of state and federal laws that business must follow. These regulations are put into place to protect both the company and the consumers. State and federal laws help to ensure that the ingredients used to make the products that they sell are safe for the environment and for the consumers that may use them. These laws also protect competition, product, pricing, distribution and advertising. A company may use self-regulation; this is where the industry attempts to police itself (Kerin, 2011). Companies must comply with different states and countries environmental regulations. There are also regulations that companies must follow for waste disposal.
This will impact Xtra because if the company does not follow these regulations they may be fined or they may be closed down. One thing that Church and Dwight Co Inc. may have to be aware of is that Phosphates that are frequently used in some powder laundry detergent are illegal in many states and foreign countries.
Marketing Strategy: Target Market(s) & Positioning
The first target market is geographic. Xtra can use this market because it can go on the region and city...