Target Market Analysis Essay

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TARGET MARKET ANALYSIS
(Biozet Attack Laundry Powder)

The Kao Corporation is originated by Mr. Tomiro Nagase and founded in June 1887. High quality toiletry soap becomes first manufactured goods that are launched. This corporation started to develop and expand their business to other field of business such as the beauty care business wherein the company recommend prestige cosmetics, and premium skin care and hair care products, and the fabric and home care business, which contain laundry detergents and household cleaners. In addition, in the chemical business this company develop chemical products that meet the various needs of industry (Kao Group Site, 2011). The mission of this company is to make every effort for the wholehearted …show more content…
The marketing strategies used to market this product are brand. “Brand is a collection of symbols such as a name, logo, slogan and design. Brand is used to distinguish a product from other competitors’ product (Elliot,G et al , 2010, pp.219). Therefore, biozet attack is a well known brand in Australia; as a result consumer would prefer a well known brand and also it helps to accelerate the way consumer purchases their product by recognizing preferred brand.

Price
Price plays a crucial role in its marketability. Price is the amount of money that a business agreeable to pay for its offerings. In order a business can sets its price, a business have need to know how much money did the business spend during the process of manufacture the product. A business can set a high price and make high earnings or set a low price to beat the competition (W, Tim, G Richardson, 2010). A company could suffer a loss if the price is set too high or too low. Biozet attack is sensitive when it comes to price, therefore the price of this product is considered as elastic price. Price elastic means that if the price of a product increases so the demand of buying this product will decrease. The pricing strategies that biozet attacks apply is psychological pricing. Psychological pricing is a marketing strategy that set their price to influence buyer perception. An example of
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