MBA5501 Unit VI scholarly activity - RUNNING HEAD Unit VI...

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RUNNING HEAD: Unit VI Marketing Strategy1MBA5501 Unit VI Scholarly Activity Columbia Southern UniversityMay 18, 2016
Unit VI Marketing Strategy2Ironman’s Marketing StrategyProduct StrategiesIronman, although arguably a unique product, will be entering a highly competitive and matured market and therefore will have to be very strategic before entering the market. As Kirkland (2009) suggests, Arimount will need to know what they are selling by clearly defining the uniqueness of the product and what it will in fact offer the customer in comparison and contrast to current competing products. Arimount will need to develop a branding strategy that will develop not only product recognition, but also customer loyalty. Kotler and Keller (2012) suggest that Ironmancan become one of Arimount’s mostvaluable intangible assets of the firm to the likes of Nike, Mercedes, Apple, etc., if marketed correctly. Because Arimount will enter into a market with 83 percent being controlled by the 4 largest manufacturers, Arimount will market specifically to its target audience and not attempt to overtly compete with the largest companies. Arimount’s intent is to produce a product that will target a specific target market: active males and females between the ages of 13 and 50 who regularly participate in athletics or other fitness activities, or are engaged in jobs that will expose them to higher temperatures (outdoor or manufacturing) where perspiration is common. This product may also be used outside of the target demographic to take the place of “clinical” style deodorants which contain higher concentrations of chemicals that reduce perspiration, albeit for shorter periods of time. By providing long lasting perspiration protection and odor blocking, Arimount will be providing a truly unique service to the customer that currently does not exist in the marketplace. Arimount will need to conduct periodic market research to develop the product over time.
Unit VI Marketing Strategy3

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