EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 9780134461434
Author: Armstrong
Publisher: YUZU
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Question
Chapter 12, Problem 12.15VC
Summary Introduction
Case summary:
Company P is the one of the top I Industry which focuses on innovation. Company P was the 1st company to offer installment payment of premium, 24/7 customer service and drive-in claim service. However, Company P’s most important move is its ways of channel of distribution. Most of the I companies distribute their policies by direct contact with customer or intermediary agents, Company P was the 1st company to do both.
Later in 1980s, Company P distribution channel included 800 agency number channels. Two years ago, Company P was the 1st company to start digital media by creating website. Soon after, its 1st insurance policy was auto insurance policy through online service. Today, customers manage everything through Company P website from managing their account informations to directly reporting the claims.
Characters in the case:
- Company P
- Company I
Introduction:
A supply chain is a system between an organization and its suppliers to distribute and produce a particular product. The supply chain of any organization takes care of every step involved from the delivery of a product to final consumers. It is divided into two parts, downstream and upstream partners.
To discuss: The concept of supply chain in Company P.
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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.
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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…
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