Reference no: EM132431574
Problem: You are the head of worldwide product for Dynasty International- a large CPG ( consumer product goods) a company that makes and markets shampoo, conditioner, etc. Please focus just on basic hair care product SHAMPOO AND CONDITIONER-One line product line
- You are considering entering a specific, Rural China market (Western China) for your line of shampoo, where most people earn $2 per day. Still, it's an opportunity that you dont want to miss
- At first you thought you could offer a truly standardized product (same exact shampoo as you offer in the USA market) at a similar price point ( once you have factored in the exchange rate ) but after doing some extensive market research , it appears you may have to make a few adjustments to your marketing mix ( 4Ps of marketing)
- You also need to concern yourself with not only the best entry strategy, but the best international strategy in the region
Product: You have realized that the China market you are addressing only shampoo their their hair approx. once a week; a far difference from most people in the US shampooing on a daily or almost daily basis. In addition to that, water scarcity is a real issue and people can only spend maybe 1 minute maximum on a shampooing their
From a product attribute ( you may consider R&D) stand point, what change would you make and please provide 3 changes you would make and justify your decisions. ( Hint, you will also need to think about how that relate to your pricing strategies, it all tie together
Price: Remember the opening scenario. What pricing strategy will you utilize with your product?Why, you must provide a rationale for the response ( hint, things to considerare your general brand positioning, the local/current competition, your manufacturing cost and if you will manufacture locally ( regionally) or import from the USA, etc)
This is hint new product introduction. Please highlight which answer you choose and provide a brief justification for your choice
Market Penetration/ Price Skimming
Price 2nd : What price strategy makes the most sense here while you are calculating your price structure ? Do you think you will cost-base or value-base pricing? Please provide a brief justification for your choice