This company has for many years developed household and commercial cleaning products with quality at the forefront. An extensive line up of cleaning products has ensured that any household or commercial organization can use our products for a wide range of tasks. As the American household grows more ecologically sound, organic cleaning products are in demand. Grapefruit seed extract, Orange peel, many plant based oils, lemon juice, along with electrolyzed water all offer organic cleaning solutions that perform just as well as the other cleaning products in our lineup. Thousands of customers have already requested that we introduce such a product including many of our own employees. Lab tests have shown that this organic cleaner cleans just as good as our non-organic cleaners. The product is currently in market testing and the “green” market is a viable one indeed. It is planned for a regional rollout.
Diversification analysis is a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products (book, pg.31). An organic cleaning product is new to our lineup. Markets shift and change, new markets open and old markets close, in order to survive we must pinpoint those new markets. The reason I chose diversification analysis is because we are diversifying our lineup of cleaning products and entering a new market. We should be focusing on product development as we are selling a new product to a current customer. Also, focus on market development should not be overlooked as we are selling a new product to a new market as well. The “green” market is unique as in the people looking for green products will not buy products that are not considered green or natural.
In step one of the marketing research approach we must define the problem. People want “green” all-natural cleaning products at affordable pricing. We must research whether or not this can be viably done. Step two in the marketing research...
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