Marketing Challenges of the Companies Producing Personal Hygiene Products Essay (Article)
There is a direct correlation between the profits of the company and its successful marketing marketing campaign. Marketing performs an necessary function in the life of society, because it gets folks acquainted with new products and improvements. The paper is dedicated to the research of selling peculiarities of the current case, related to the rise of price for private hygiene products, corresponding to bathroom paper, cat litter, and diapers.
The Goal of Marketing and its Concepts
Marketing specialists define ten major topics of promoting: “items, companies, events, experiences, individuals, locations, properties, organizations, information, and ideas” (Kotler and Keller, 2015, p. 27). In the studied case, the explanation for raising the price was linked with the increase in prices on uncooked supplies and with the fluctuations out there of forex. The advertising methods of the most important producers of household staples are aimed toward stabilizing the amount of sales, which might fall as a outcome of worth improve policy.
Three core advertising ideas include wants, wishes, and demands. Needs are defined as fundamental necessities for the existence of a human, needs are sure items, the aim of which is to fulfill the necessity, and demands that are linked with purchase capability. The advertising setting consists of events which are involved in the production (company), distribution (suppliers, distributors), advertisement (agencies). The new realities widen the vary of things that have an impact on successful advertising. These include demographic, economic, social, and cultural backgrounds, as well as nature, know-how, and politics. All these elements must be taken under consideration while planning a marketing campaign.
The current market is underneath a critical affect of technological advancements, globalization processes, and social duty. New capabilities of shoppers now embody using the Internet as a tool for getting data, shopping for, communicating, offering suggestions, and even blocking a share of promoting data that the consumer finds irrelevant. At the same time, entrepreneurs get a new platform through which they can promote, collect details about the purchasers and type databases, talk with their purchasers, concentrate on the target market, and optimize advertising costs.
The Concept of Holistic Marketing
One of the ideas aimed to incorporate new factors that influence the market is called holistic philosophy. It is predicated on the concept of correlation between the structural parts of the advertising campaign and their implementation, emphasizing that there are no unimportant details in advertising. The studied case of raising prices on private hygiene products is clearly demonstrating that the producers are already going through new marketing realities. Marketing experts declare that “it used to be easier for these companies to boost prices” for the rationale that “consumers have found out the artwork of trading-down” (Al-Muslim, 2019). It means that the advertising methods of the companies should be reviewed, taking the latest advertising changes into account.
Years back, economists outlined a key to a profitable advertising campaign as addressing its four key components that embody product, value, place, and promotion (Kotler and Keller, 2015). The holistic philosophy approach states that these ideas usually are not enough to be successful in contemporary advertising. The notion of individuals is defined as internal advertising activities, processes embrace marketing administration steps, applications embrace on-line and offline actions attracting customers. Performance includes not solely profitability but additionally social responsibility and associated ideas. Other economists make a focus on such concepts as accessibility (availability and convenience), affordability (willingness to purchase), acceptability (consumer expectations), and consciousness (information). A deeper take a glance at these classifications gives an understanding that the standard concepts are in tight connection with the newly proposed ones. Thus, the product is related to acceptability, the value is linked with affordability, the place is accessibility, and promotion is awareness of the marketed product.
The present understanding of promoting clearly explains that every element must be taken into detailed consideration. Outdated advertising policies lead to a situation where numerous firms, corresponding to private hygiene producers, face difficulties, risking losing customers who are delicate to the worth enhance. This case needs to be a notification, reminding the trendy business world to update its advertising strategies.
Al-Muslim, A. (2019). Prepare to pay extra for diapers, Clorox, and cat litter. Web.
Kotler P., Keller, K.L. (2015). Marketing management. Global Edition, Pearson.