Competitor Brands Price - Quality Positioning
Autor: AceRifo96 • July 15, 2019 • Business Plan • 1,902 Words (8 Pages) • 694 Views
Contents
PART 1 : Competitor Brands Price/Quality Positioning Graph 3
PART 2: Identifying a New Target Market 4
PART 3: 4P Marketing Strategy 7
Launching a New Line of Fragrance in the Canadian Market
PART 1 : Competitor Brands Price/Quality Positioning Graph
The fragrance market has a lot of fashionable brands, all of which are designed for a particular target market.
Brand Name | Asking Price (CDN) | Original Package Size (m/l) | Price Per m/l (CDN) | Average Quality Rating (i.e. 4/5 stars) | Number of Reviews | Source of Data |
Nautica Voyage Cologne | $33.99 | 100 | $0.3399 | 4.4 | 23 | Amazon.ca |
Nitro Men | $23.04 | 100 | $0.2304 | 5 | 11 | Amazon.ca |
Guess Seductive Homme | $32.76 | 100 | $0.3276 | 4.1 | 71 | Amazon.ca |
D&G Light Blue | $91.85 | 125 | $0.7340 | 3.6 | 17 | Amazon.ca |
Chrome Cologne | $47.70 | 100 | $0.4770 | 4.8 | 17 | Amazon.ca |
The table above shows 5 different brands of male fragrances coupled with their respective user ratings. Data was compiled from Amazon (2018)
The Correlation Between Consumer Ratings and the Price of Fragrances
The graph below shows the correlation between the average consumer ratings and the price per m/l of all 5 brands listed above.
[pic 1]
PART 2: Identifying a New Target Market
In order for a brand to be successful, it needs to be developed for the right market and for the right purpose. In this particular case, we will develop a unisex brand which will have its main focus on fitness enthusiasts.
Demography
According to The Star (2011), about 15 % of Canadians meet fitness requirements and this number is significantly growing. This fitness revolution has led sports apparel manufactures to develop fashionable clothes for the gym. This fragrance brand will appeal to the target market as both fashionable and handy in the gym.
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