For SolutionsPro

Valerie Hall

American Intercontinental University

Unit 1 Individual Project

MKTG 205 – Principles of Marketing

May 3, 2014

Abstract

The article’s focus is on how marketing laundry tablets and home dry-cleaning kits have reported success in spite of the past failures. It addresses the aspect of product differentiation through combination of a fabric softener and the laundry sheets as one of the best strategies to overcome various market forces.

Market Forces and Strategies to Overcome Threats and Capitalize on the Opportunities

Introduction

Marketing managers have a key role to play in marketing different products within the industry of their focus, and the strategies they implement to overcome various marketing forces matter the most. This paper will focus on marketing forces to overcome and strategies for overcoming them, as well as threats and strategies to capitalize on the opportunities based on the laundry detergent product described by the article selected from the industry.

Market Force 1: Political and regulatory forces

Different states have a set of rules and restrictions that regulate the manner in which businesses in any industry conduct business, primarily for the purpose of protecting consumers, the environment, and other businesses. For example, according to the article selected, marketing managers have raised their concerns over the ban on some powdered detergents by authorities in some states citing environmental concerns. Nonetheless, the laundry industry will launch more concentrated powders that are environment friendly, as well as shift to more concentrated liquid laundry detergents. This strategy is expected to decelerate the decline of the powder and liquid detergents. Also, compliance to the set rules and regulations will help marketers in the long-term (Ferron, 2011).

Market Force 2: Competition

Product marketing requires a marketer to play a winning game against the competitors in the industry, essentially when their products are targeted on the same population. Additionally, producers of competing brands and the producers of substitute products must come up with strategies to overcome this marketing force so as to capture a fair market share. As much it’s quite evident that competition is often beneficial to the consumer in terms of quality and choice, producers of the competing products must always come up with strategies to overcome the competition. Neff, 2010, cites that intense product marketing and promotions, such as shifting spending on conventional marketing to the use of online ads will suffice to increase the awareness about a product, as well as its demand and consumption (Ferron, 2011). Other strategies include development of strategies based on your cost or product strengths, such as outsourcing manufacturing to a lower cost producer if a producer cannot reduce its own cost base. This strategy will help a business in the detergents industry to overcome price competition. Introduction of new detergents will also guarantee marketing success (Neff, 2010).

Market Force 3: Technological forces

New technologies are not only bound to help improve the quality of laundry detergents, but also increase the amount of the product produced to complement the increasing demand in the industry. New technologies can transform the marketing mix in another significant manner: they alter the way businesses market their products. Neff, 2010, asserts that producers in the detergents industry must capitalize on technologies that bring about product differentiation like the introduction of new form power gels.

Strategies to Overcome the Threats

Regardless of how long a business has been in the laundry detergents industry, looking out for marketing strategies to handle threats is key. According to McCoy, 2012, product enhancement, distribution realignment, rebranding and pricing work best for nearly every company in all industries.

Strategies to Capitalize on the Opportunities

Businesses in the laundry and detergents industry are often presented with great opportunities that can be helpful circumstances over and beyond the ordinary rules of competition. For instance, watch for promising startups, assessing the competition for gaps in production and marketing of laundry detergents, as well as the assessment of the company’s web-based marketing opportunities are some of the best strategies that help businesses to capitalize on the available opportunities (Neff, 2010).

Conclusion

Essentially, marketers are more like the pillars of success in nearly every industry since they must come up with strategies to overcome various marketing forces and threats, as well as strategies on how to capitalize on the existing or anticipated market opportunities. Product differentiation through the use of advanced technology will help businesses in the laundry detergents industry.

References

Ferron, Y. (2011). Laundry Upgrade. ASHRAE Journal, 53(11), 44-50.

McCoy, M. (2012). Selling Detergents One Load At A Time. Chemical & Engineering News (00092347), 90(4), 15-19.

Neff, J. (2010). New laundry forms helping marketers clean up. Advertising Age, 81(21), 4.