Anticipated Price, Promotion, Cost, Global Perspective Research Paper

Running head: Anticipated Price, Promotion, Cost, Global Perspective Research Paper

Anticipated Price, Promotion, Cost, Global Perspective Research Paper

Team E

MBA 570/ Sustainable Customer Relationships

Dr. Tim Becker

University of Phoenix

February 26, 2009

Anticipated Price, Promotion, Cost, Global Perspective Research Paper

Introduction

In today’s society there is a consumer demand for products to lessen the burden of necessary household duties. Consumer demand is the driving force behind a products success, the new product that we have created is called the Finishing Touch. This is an innovative product that will be manufactured and distributed by an existing, well established company. Grand Inc. We will promote this product with advertisements in magazines, television, in addition to promotions. By filling a previously untapped market we feel our product has the potential to thrive nationally as well as expand into the global market. This research paper will explain in further details the anticipated price, promotion, costs and global perspective.

Situation Analysis

As a successful product development company, Grand Inc. identified a consumer need and designed the product Finishing Touch. By conducting consumer research through surveys we have discovered many households have dishes that pile up for a day or more without cleaning thus creating hard to remove stains and a need for a scraper. The Finishing Touch will utilize the same idea as the common kitchen glove by improving the durability and comfort and adding the addition feature the scraper (CRIPS).

Pricing

When marketing a product, pricing is an important factor to consider. Pricing is different than cost in that cost is the cost for manufacturing the product, and pricing is how much the product will be sold. When selecting our pricing strategy, we benchmarked various competitors’ prices. According to our research, the price range for the standard reusable dishwashing...