Product Marketing Assignment Example | Topics and Well Written Essays - 1750 words

Product Marketing - Assignment Example This is happening as additional customers demand for more products deemed to be environment-friendly, not only due to sustainable production methods but also due to the ease of disposal and consequent environmental conservation (Gordon, n. p.). Product Description â€Å"Green Diapers† provide users with a wide array of disposal options, that is, tossing, composting or flushing. Additionally, the fact that these diapers are biodegradable implies that, microorganisms which occur naturally, and those that are responsible for decomposition of materials, can easily breakdown or weather the diapers. Further, the nutrients can be recycled into the environment, without leaving behind any injurious residues. The disposable inserts incorporated into â€Å"Green Diapers† usually decompose in approximately 50 to 150 days when composted at home. These diapers, unlike the conventional ones can also be flushed down the toilet without clogging the system. This implies that less garbage will be transported to landfills, hence preventing environmental pollution. â€Å"Green Diapers† have undergone numerous tests by autonomous laboratories, thus, proving beyond reasonable doubt that they are really biodegradable (Weinberg and Parrs, n. p.).   Market Conditions Based on a market survey conducted by BusinessGreen (n. p.) consumers’ demand for different green products rose from 15 percent in the year 2008 to 70 percent in the year 2009. This trend has continued to grow since then, and by the end of the 2012 fiscal year, demand for green products has reached a high of 83 percent. These consumers posit that they would opt to buy a product deemed to be green, rather than purchase a relatively priced, ordinary product. This trend, therefore, provides a lucrative opportunity for the company, as it ventures into the sale of biodegradable diapers. The prospect appears to be even more profitable, since approximately two-thirds of customers that buy green commod ities have upheld this purchasing habit throughout the tough economic times. This serves as a clear indicator that the market for green products is relatively stable, thus providing the company with a competing platform at par with that of ordinary disposable diapers. The statistics also prove that the shift towards green products is not a trend anymore, but a sustainable societal lifestyle. The company can also borrow traits from businesses currently selling green products and pursuing green marketing strategies, since most of these ventures continue to reap benefits like: Increased revenue: with continued growth of the green market there is an increment of opportunities to lure new customers. Further, there is broadening of the customer base through product modification, product innovation and promotion, eventually increasing revenues. Reduced costs: manufacturing of green products involves utilization of fewer and locally available resources to develop products and market them to consumers. This greatly cuts down costs incurred in the production process. Enhanced reputation of brand hence high market value: companies’ attempt to protect the environment through manufacturing and selling green products develops a positive impression among many customers. This, in turn, promotes the brand name and its popularity among consumers. Risk mitigation: numerous studies have shown that green companies can stay ahead of their competitors, as administrations make an effort to enact more rigorous environment regulations to mitigate