Marketing: An Introduction (13th Edition)
13th Edition
ISBN: 9780134149530
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
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Chapter 1, Problem 1.14MA
Summary Introduction
Case summary:
Many marketers are unable to determine how long a customer can stay with them. This can be simply determined using the
Introduction:
Customer lifetime value or CLV is a tool to determine the relationship with the customers. This helps the company in making decision on production, marketing, sales, and customer support.
To determine: The various ways the marketers can increase the lifetime value of the customer.
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Imagine you have the sole marketing rights to a new herbal shampoo that you developed from local herbs and plants that are indigenous to your country. This shampoo can stop hair loss and promote hair growth for those who have suffered hair loss. You have branded it Nasure® Shampoo, and given your limited capital, you plan to sell your product exclusively over the Internet and support it by advertising and infomercials on late-night television. You have also planned some social media marketing, plus you are also hoping to obtain free publicity in men's fashion magazines. You plan to sell the product in a 400-gram bottle for $599 plus $9.99 shipping and handling. This price is considered premium to that of competing products, but you justify this based on the unique properties of the shampoo.
Recommend a secondary target market for the shampoo given its ability
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Respond to G.H.
Good Evening Professor and Classmates,
Hairitage Shampoo, founded by YouTube influencer Mindy McKnight, offers a range of hair care products that are vegan, cruelty-free, and formulated with natural ingredients. (Quinn, 2024) The brand's competitive advantage lies in its differentiation through personalized solutions for various hair types and its strong brand identity built by McKnight's YouTube channel, Cute Girls Hairstyles.
To sustain this competitive advantage, Hairitage should continue to innovate its product line, maintain high product quality, and leverage Mindy McKnight's influence for marketing. (Hairitage Shampoo Good For Hair? Reviews, Ingredients And More!, 2024) Additionally, expanding its distribution channels and engaging with customers through social media can help reinforce brand loyalty.
Barriers to entry for competitors include the high costs of product development and marketing, establishing a strong brand identity, and navigating regulatory…
Chapter 1 Solutions
Marketing: An Introduction (13th Edition)
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