Every day we use thousands of different products, from toothpaste to facial wash and drinks cans to washing machines. All of these product must be analyse to know how they work and how they will be made. This is what we called it product analysis. Every product is designed in a particular way. Product analysis enables us to understand the important materials, processing, economic and aesthetic decisions which are required before any product can be manufactured. An understanding of these decisions can help us in designing and making choices for ourselves.
The product analysis process must be conducted for all company especially in manufacturing businesses. Referring to Mary Kay Inc, they need to undergo product analysis process for their new hair care product. By doing this, they will know whether their product is worth to produce or vice versa.
For the first element, Mary Kay need to decide about their price of their newly hair care merchandise. It was still unclear about the price strategy that Mary Kay will be using since a manufacturer and manufacturing cost was yet to be determined. However, in this cosmetic line, mass-tige pricing seems to give a good positive result. Thus, Mary Kay will practices mass-tige pricing strategy which is their product’s price will be above the mass market price but still be below than their competitor’s price.
Next, Mary Kay also need to study the features of the hair care that they plan to release in public. They should study their competitor’s product that already in market. They need to enhance the existing features or developing a new one. Mary Kay decided to spend quite big amount of budget to make sure their product’s ingredients will be better in terms of technological in producing it. Besides that, Mary Kay also assure high quality in every product they produce to assure the value is worth the customer’s expenditure.
On the other hand, Mary Kay need to have a look on the market trend,...
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