Marketing Report: Preliminary Overview on Term Paper

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Since people are less apt to be attracted by excess gadgetry in the market of clothes washers and dryer, and fewer people own more than one laundry machine than own a wide array of kitchen gadgets, remaining in the high-end market sphere for this product line, barring some substantial new R&D development may be questionable.

To find out what is the newest and best product lines, increasing the company's sales presence at trade shows might be a good idea. Improving its reputation at trade shows would increase retailer's interest in the product, and encourage major vendors to showcase the product more prominently in their store displays and promotions. Expanding the range of stores might be a good idea since the product line is so deep, but there is also the possibility of establishing a special relationship with a particular store whose brand seems uniquely suited to the image of the company. Since image-building is so important, rather than having independent salespeople, it would be advised that a core contingent of salespeople who are loyal to the company, have a singular image and message, and are not independent, and thus mostly personally driven for commissions, be employed.

Creating a high-quality but 'value' priced line that does not fundamentally dilute the brand name can be tricky, but it should be noted that some companies have achieved this, and even done so through major department stores, like several fashion designers through the image-conscious discount store Target.

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Target has done so successfully with clothing and makeup, looking into such a relationship with Target might be an interesting concept. After all, if Martha Stewart was able to 'brand' herself with K-Mart, creating a value brand of quality should not be sneezed at! Unlike the older, outmoded products at the company that must be eliminated to preserve the value of its name, creating a new value brand that draws consumers to consider the line but is clearly demarcated by name and style as different does not pose as much of a risk of brand dilution to the higher-end lines. Furthermore, if of good enough quality, middle-end consumers might consider adding a few select higher-end products to their home as a result of their positive encounters with the brands.

To ensure that any and hopefully all of these new endeavors are effective, the company must create regular analysis of who its customers are, and what products sell well. Too much at present is left to guesswork, and the result is waste and inefficiency. Customers must also be surveyed as to what they would like to see in future products, as well as asked in questionnaires, focus groups, and other methods what they like in the current product lines. Focus, direction, and streamlining must be goals of the upcoming months......

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