Show how new product would be introduced into the market today Essay

Show how new product would be introduced into the market today - Essay Example Motives is a cosmetic company that controls a huge proportion of lipstick and mascara production in the American market. In this case, the product life cycle of the La La Mineral lipstick will be used as an illustration. Motivescosmetic has to highlight its key objectives and targets in the cosmetic industry. The new product has to be in line with the already established corporate strategies. This will require the company to come up with a precise and an all round mission statement. Since there is so much uncertainty in the market, this step will act like a guide to plunge into the market and face the future courageously. It is good to find out the potential customers. In this case, the lipstick that makes mouth fuller is will soot the female customers and those in the beauty industry. The company has to identify the expected perceptions in terms of value, quality and efficiency so that they can respond to inquiries. This kind of understanding prepares Motivescosmetic to position the lipstick product in the already congested market. In another perspective, the company has to make an analysis about its target market by grouping them into industries and geographical location among others. Having a great product does not guarantee success. Motivescosmetic has to conduct a keen analysis about the potential competitors and how they operate. This will include understanding how they carry out their positioning, handle their distribution channels and come up with pricing strategies. In addition, the company has to take a keen look at how customers respond to the competitors’ style of marketing. Positioning entails the ability to understand the uniqueness in the product and how it will stand out from the already existing products. It requires going beyond the normal anticipations and critically analyzing the perceptions likely