You Decide, Essay Example

In an exercise position of a Vice President of Marketing for Graves Enterprise, whose task is to double sales in both the consumer and commercial markets within the next year, I cannot but agree that from the consumer market perspective the Consumer Product Proposal is prospectively attractive. However, my personal opinion is that, unfortunately, it is unlikely to succeed in achieving the predetermined sales increasing goal. The primary identifier of the potential failure in this particular market is the 1.5 price increase, especially in the view of the financial difficulties consumers are faced with in the process of overcoming the consequences of the world financial crisis. Moreover, as the results of the conducted marketing researches reveal, the financial difficulties are more likely to drive consumers to choose price friendly cleaning products that they are currently using over higher priced eco-friendly ones. As far as I can judge, in the existing consumer market conditions, in order to increase sales, it is necessary to win the preference of the majority of the market. This can be accomplished by means of providing qualitative averagely priced cleaning products with the emphasis on their consumer availability in the financial crisis conditions, avoiding the increasing price tendency in the view of the fact that floor and carpet cleaning products can be considered elastic goods, the demand for which decreases with increasing prices.

When considering the commercial markets perspective of the Consumer Product Proposal, it is evident to me that, unless the price setting strategy is changed and the antibacterial advantage is emphasized to the greatest extent, the new products will not be able to generate the double increased sales as intended. Hospitals and nursing homes, as well as other inner related businesses, are currently trying to cut down or minimize their expenses, meanwhile keeping up with the hygiene requirements. So, in order to increase the sales with the doubled price taken in consideration, all the promotional strategies should be aimed at emphasizing the antibacterial factor. Skid-No-More floor wax is a prospectively profitable and commercially attractive proposal. For this reason, to my mind, special attention should be paid to this particular product, because, if accurately promoted, it will generate increased sales even in terms of increased prices.

All in all, having completed the above discussed exercise, I have to say that personally for me there was probably nothing new in the observation of the consumer and business behavior in regards to the introduction of the new product line to consumer and commercial markets. However, the exercise underlined the importance of the marketing initiatives as well as marketing research as a tool in supporting or overturning them. As to the primary concept relative to purchasing behavior demonstrated in the exercise, I personally think that it is the identification of price as the most influential attribute in the purchase decision process. The exercise proved that when it comes to spending money on elastic goods, consumers are more concerned with price affordability than special features as eco-friendly or antibacterial materials. And nowadays, in the view of the world financial crisis, this tendency has gained even a greater purchasing influence.