Silmon_Charlesa_Unit4_AssignmentGB530

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Unit 4 1 Unit 4 Assignment-Adams Components Charlesa Silmon Purdue Global University GB530-02: Marketing Management Professor Samantha Bietsch December 04, 2023

Unit 4 2 3.4 Positioning Adams Components will meet the needs of its target market because we will position our product to meet the needs of our customers within each segment. According to Kotler (2016), a market offering is developed with positioning in a target buyers mind as delivering some benefit(s). Adams Components contains a competitive advantage over competitors because this body wash will be composed of natural ingredients. This brand will also bring awareness to many men to sustain a healthy PH balance, so encouraging healthy hygiene amongst this brand is something that stands out with our competitors. Adams Components distinguishes itself from its competitors because this body wash is composed of all-natural ingredients. Formulating a product composed of all natural ingredients makes this body wash highly valuable. 3.5 Marketing Mix Product According to Kopp (2021), product differentiation is the key aspect(s) which distinguishes a company product(s) from its competitors. If the product differentiation is successful this will create a competitive advantage and build great brand awareness (Kopp, 2021). Adams Components stands out from its competitors because not only does this body wash bring a fresh clean feeling, but it helps to maintain a healthy PH balance within men, when used properly. This product also is composed of all natural ingredients, para-ban free, and sulfate-free. Adams Components wants to succeed with bringing awareness to men’s health, and also provide a product that will add to health and wellness. According to Palan (2021), the product value is the benefit that a customer receives by using a product to satisfy their needs. Many of Adams Components customers will receive benefits from using its body wash such as a healthy PH balance, feeling refreshed with natural ingredients, and in general feeling happy. Adams Components will have more value than its competitors because of the natural ingredients. Having a product composed of natural ingredients is quite valuable. The product design of Adam Components will also have the competitive advantage. The quality of this product will also aid in why Adams Components will have more value than its competitors. Price Adams Components will price its products using reference pricing. According to Kotler (2016), reference pricing is the pricing information a customer preserves within their memory which will be later used to compare with the price of a competitor product or previously advertised price. Since Adams Components will be using reference pricing with its product this will help with saving cost. This will help to gain a competitive advantage over our competitors. It will help to gain a competitive advantage because prices will be able to be negotiated and there will be flexible pricing. Some competitors within the market have set prices, but Adams Components will use reference pricing.

Unit 4 3 Place Adams Components will distribute its product through wholesalers, supermarkets, local stores, and its website. Alternative delivery methods that Adams Components will develop will be an order online and pick up in store location method. Some consumers may prefer this method to save on shipping costs which is why Adams Components will also offer this method. Adams Components will rely on an outside firm for distribution. Currently Adams Components parent company Summers Eve uses an outside firm to distribute its products. Choosing an outside firm will not only make the job easier for Adams Components, but it will potentially also create more profit. Adams Components will be able to see if relying on outside firm will create more profit by creating sales projections, and comparing delivery costs (Gartenstein, 2012). Promotion Adams Components will use multiple promotional tools to promote effectively. Adams Components will use advertising to promote its product. Advertising across different platforms will used. Advertising across social media, commercials, and newspapers will also be done. Adams Components will also use promotional tools such as influencers. Using influencers, will help build brand awareness through social media. Also, future consumers will also be able to know how our product works. Adams Components will determine which promotional tactic worked best based on results, and customers reviews. Adams Components is a company that truly caters to its customers and will truly seek its best to meet the needs and wants of its customers. Even if Adams Components has a limited budget this brand will strive. Adams Components will gain a market share using social media marketing, positioning its brand throughout the community, email marketing, content marketing, and defining our audience. Adams Components will always analyze data. When it comes to evaluating the results of our promotional campaign, we will look at the cost of promotion (ROI) versus how much it cost to gain new customer(s). There will be analytic and mathematical data involved to measure these results. 3.6 Marketing Research Adams Components will use a variety of marketing research techniques and information to make informed decisions. Some marketing research techniques that will be used will be surveys, questionnaires, competitor analysis, interviews, focus groups, research studies, observational research, customer research, and etc. With appropriate data results Adams Components will be able to compare data and analyze the data. Also, with using many marketing research techniques such as surveys, questionnaires, and customer research Adams Components will be able to analyze feedback within this market research. Adams Components will conduct research on its own, and also hire and outside firm. The purpose of hiring the outside firm for research will be to fill in any gaps that Adams Components itself may have missed. A business can never have too

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Unit 4 4 much research. It is truly valuable for a business to conduct thorough research before making any informed decisions.

Unit 4 5 References Gartenstein, D. (2012, May 4). Methods of distributing a product . Small Business - Chron.com; Chron.com. https://smallbusiness.chron.com/methods-distributing-product-45501.html Kotler, P. & Keller, K. L. (2016). Marketing management (15th ed.). Pearson Prentice Hall. https://mbsdirect.vitalsource.com/books/9780133856606 Our story . (n.d.). Summer’s Eve®. https://www.summerseve.com/who-we-are Palan, H. (2021, July 27). Do you really understand the concept of product value? Productboard.com. https://www.productboard.com/blog/do-you-really- understand-the-concept-of-product-value/#:~:text=%E2%80%9CProduct%20value%20is %20the%20benefit,a%20product%20to%20the%20customer.%E2%80%9D

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