Three Factors That Are Critical to the Successful Marketing of Kathon Mwx

Question 1: Identify three factors that are critical to the successful marketing of Kathon MWX.

1. Effective Promotion

“I have a super product but I can’t sell it” said by Joan. It is obvious that we should increase customers’ awareness so that they know there is a new good product launched in the market. To increase customer’s awareness, not only should we spend our promotion budget wisely, but also emphasizing on product benefits that current products cannot meet or qualities that customers pursue. For example, MWX is actually a good product that satisfies customer need for its easy to use and safer to handle. It is suitable for machine less than 1000 gallon capacity and can fulfill customer’s low cost desire. Therefore, an effective promotion should be focusing on explaining the value MWX can provide – ease of use and safety. Also the amount that customer can save if they use our products – using MWX, we can keep the fluid 2-5 weeks longer, possible saving are $33,557-$55,929 per year, which is an eye-catching message to the cost concerned customers. By showing this kind of analysis, the promotion would be more effective and influential. Free sampling is also a good idea for customers to have a real try on our products, but only 20% of customers remember receiving the sample. Therefore, to make our sampling more effective, we should also give out follow-up survey so that it can serve as a reminder to our customers and also gain feedback and user-experience from our customer.

2. Specified Pricing

MWX is priced from $1.01-$1.25 per packet. However, the company did not specify a fixed end users price to its consumers which leads to price variance from $2 - $6. It may easily cause confusion to consumers as price may represent the quality and value of the product. Without a fixed list price, we cannot ensure we are in a right positioning