Suave & Rugged, a manufacturer of personal care products, is launching a new line of male cosmetics. The products, which are not visible on the skin, help reduce the aging effects on the skin, and provide some sun protection.
1. Deliverable:Prepare an individual report analyzing Suave & Rugged's new product. Develop a product strategy including value proposition and product experience. Determine and justify the potential segmentation for the product. Discuss the positioning strategy that you will adopt.
2. Purpose: Marketers ensure the success of a new product by putting forth value propositions that address the stated and unstated needs of the customer. Further, marketers identify and profile distinct groups of buyers who might prefer or require varying product and service mixes by examining the demographic, psychographic and behavior differences among buyers. For each target market, there is a need to develop a "to market offering" that can be positioned in the minds of the target buyer as delivering some central benefit.
3. Process:This assignment gives you an opportunity to:
a) Complete a thorough, thoughtful, and objective analysis of the benefit of the new product to satisfy customers need - both tangible and intangible
b) Determine on the basis of the available data as to which segment of the market the product has the best chance to be successful
c) Identify strengths and areas that may need improvement
d) Make recommendations based on your analysis.