Marketing Essay Example | Topics and Well Written Essays - 500 words - 14

Marketing - Essay ExampleApproximately 25% argon sold through beauty shops and the remainder through major(ip) retailers. Manufactures can open a arrange of salons, which utilize and market their line exclusively, and the consumers atomic number 18 not a focused group.Barriers To Entry in that respect ar few barriers to entry or exit for this product. An initial approval by the FDA is easily accomplished by using pre- canonic materials in approved quantities. Exit from the market is not hindered, as assets would be reusable on another product line.Threat of Substitutes The product may be threatened by a fake move away from straight hair. This is partially facilitated in a recessed economy as little money is spent on hair care products and the consumer is likely to accept curly hair.Rivalry There is an intense rivalry in the hair care sector. There are a large matter of suppliers selling in a slow growth sector. Most of the products are very similar and are set off only by br and recognition. Customers are free to choose among many brands and the confine market for hair straighteners is not conducive to long term concentrated ad campaigns. There are also low risks involved with abandoning a product line. Production lines and equipment are generic to many products.Strengths The major strength is that the product works in a matter of minutes, which is faster than our competitors. We also have an approved product and the experience to take it to market. At scale, it can be produced it at a competitive price.Weaknesses Our major weakness is a lack of brand recognition. This will make it difficult to penetrate the lucrative salon market. We are also faced with a situation that makes it necessary to ramp up sales cursorily while having limited advertising opportunities. Exploiting the speed of the product may create an attraction for salons and customers.Opportunities There is the opportunity to exploit the unique speed at which the product works. This could develop