Choose a company that has several products. For example, GE, Proctor and Gamble, Ford Motor, or Aon to name a few. Choose 1 product from your chosen company and write a product market analysis (PMA).
Create a product market analysis of how the product is being placed in the market. Things that will need to be considered:
1. Description of the product being analyzed
2. Identification of products that are in competition
3. Identify the target market for the product
4. Explain how the product has been positioned in the market (including the brand's image, packaging, price, and distribution channels)
Also I will need an analysis of the competition this product faces. What particular market segment is this product trying to reach? In your opinion, are they successful? How is the product being positioned? What type of outside influences do customers face when purchasing this product? What impact, in any, does it have on the consumer?
I chose to analyze Proctor & Gamble's Regenerist Micro-Sculpting Eye Cream & Lash Serum Duo ($25.99). This is a relatively new product to the Olay line. It is a combination of an eye cream and a lash serum, used to hydrate the eye area as well as thicken eyelashes. According to the company's website, this product "instantly thickens the appearance of lashes," and provides "firmer, smoother-looking lids" as well as a "softened appearance of lines" (Olay.com, 2013). The eye cream is used around the eye area, while the serum is applied like mascara, as a base for mascara. The product was released in May of 2013 and has been reviewed favorably by consumers and bloggers.
The Regenerist Micro-Sculpting Eye Cream & Lash Serum Duo competes with many, many products. Eye creams are available from most cosmetic companies at a wide range of prices. Proctor & Gamble offers an Olay Total Effects 7-in-1 Tone Correcting Eye Treatment, L'Oreal offers a Lash Boosting Power System Kit', Rimmel offers 'Lash Accelerator Serum, and there is a Professional Brow & Lash Growth Accelerator Treatment Gel by Ardell. In addition, Neutrogena and Dove also have eye treatments. The Regenerist Micro-Sculpting Eye Cream & Lash Serum Duo is most similar to the Envyderm Cosmetics Eyelash Enhancement and Conditioning Liquid Eyeliner with Argon Oil ($22.60) and the Murad Environmental Shield Essential -C Eye Cream SPF ($37.99). The Olay Regenerist Micro-Sculpting Eye Cream & Lash Serum Duo is unique, however, in that it thickens lashes and offers an eye cream.
The target market for Regenerist Micro-Sculpting Eye Cream & Lash Serum Duo are women, 30 to 50 years old, both single and married, who are affluent and concerned with their personal appearance. This market tends to be beauty conscious, sensitive to aging, and willing to spend money to look younger. The market is dictated by perception more than price.
The product has been positioned in the upper-mid range of products in drugstores and supermarkets (mass merchandiser category of trade). Olay's Regenerist Micro-Sculpting Eye Cream and Lash Serum Duo is placed above products like ...
This detailed solution takes a company with several products and provides a market analysis on one product, including a description of the product, competitive products, target market, market positioning. Also includes an analysis of the competition the product faces, outside influences customers face when purchasing product and the impact on the customer. Includes APA formatted references.