Your company, XYZ Incorporated, has formulated a new hair product line for people interested in healthy and organic products, as consumers are becoming concerned about the chemicals in hair products and how these are damaging their hair. As the organisation’s marketing co-ordinator, you have to understand various concepts in marketing to be able to promote this product (knowing the product and what it does is vital in this process). Address these questions to showcase your understanding of marketing, and of the product. : 

 

QUESTION.

Use the marketing process to examine and evaluate each of these factors about the products. Consider what Formula Botanica says about hair trends, and highlight the environmental factors that affect your function in the marketing of this product.

• Understanding customer needs and wants;

• Market offerings: bundle of benefits;

• Being aware of market myopia;

• Marketing, customer value and satisfaction; and

• Exchanges, transactions and relationships and how it leads to market

Formula Botanica. (2021, April). Top natural haircare trends in 2021. https://formulabotanica.com/top-naturalhaircare-trends-2019/