Prduct Pricing and Strategy

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Product and Pricing Strategy Turrochelle McEachern Marketing Management/ MKT 500 3/7/2010 Professor Dr. Gordon Product and Pricing Strategy for Renew Beauty Bar This is a product and pricing strategy plan for a small business product called Renew Beauty Bar. This beauty bar will leave your skin feeling fresh, clean, moisturized and with a new youthful glow. The product will service women from all ethnic races that want better skin through a beauty bar. There are several aspects to the product and pricing plan that will be discussed in this paper. We will take a look at the components of the product strategy such as branding, product features, service, and positioning. In connection with the product strategy items, we will look to see how they add potential value, fit the target market, and support effective marketing. Thirdly, we will determine an effective pricing strategy for the beauty bar and appropriate pricing tactics. In conclusion, will be the discussion of any legal and ethical issues that may arise due to the pricing tactics that were used. Product Description This beauty bar will be a product that will offer women a chance to have healthy and beautiful skin at a fraction of the cost. Women want the comfort of being able to buy an efficient product for a fraction of the price. My Renew Beauty Bar will be a great alternative to address the skin care concerns of women at an affordable price. Components of the Product Strategy & the Potential Effects In order to move Renew Beauty Bar into the market there would be a need for a product strategy. The product strategy will involve several components such as branding, product attributes, and strategic positioning. Branding is very important when it comes to a new product. One unique branding technique to use with Renew Beauty Bar would be to personally connect

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