Assignment Task
Task
- The research that you are undertaking is for an International Consumer Packaged Goods company that believes that your home country is an excellent target market for the launch of a new personal skincare product for women.
- The product’s general formulation contains moisturizing, and SPF properties, it could also be adapted to contain skin lightening or darkening properties.
- Specifically, their prospective target is your home state, province, or major metropolitan area. Examples: Tehran, Iran; Shanghai, China; Greater Toronto Area (GTA), Ontario, Canada; Chennai, Tami Nadu, India; São Paulo, Brazil.
- Your task is to develop an analysis and prepare a written report on the following parameters:
- Attractiveness of the market including an overview and discussion of – the best segments/targets, related literacy and education levels, media sources, and general economic conditions.
- Your focus should include culture, relevant insights into history, geography, and climate and specifically, you should examine:
- Material Culture – Technology – the techniques and “know-how” of producing material goods; Economics – the employment of capabilities and the results.
- Social Institutions – Social organizations – family life, status, age. Education – literacy and intelligence and how informed the public is. Political structures – control over business.
- Belief systems – what are they and how do they affect product and promotional acceptance?
- Aesthetics – Graphic and plastic arts – degree of modernization. Folklore – superstition, tradition, etc. Music, drama, and dance – promotional possibilities.
- The report must have a supported conclusion to enter the market or not including, a description of the target market and any product adaptations that the company would have to make.
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