Friday, November 18, 2016

Marketing Mix: Product


Using the chocolate made with bulk cocoa, and including other ingredients that are also in other typical face mask such as avocado and honey, the face mask I would be marketing would be surprisingly cheap and easy to make. Even at the cost of  ~$1.50/lb and keeping in mind that "About half of every dollar you spend pays for marketing costs, such as marketing research, product development, packaging, transportation, storage, advertising, and sales expenses." (Lamb 13)
That still leaves plenty of room for a nice profit. 

In comparison to the cost of a face tuck, using a face mask to enhance your skin is proven.The flavonols in dark chocolate can protect the skin against sun damage (though you'd probably better still slap on some sun cream)

Keeping in mind also that "The materials supplied determine the quality of the product produced and create a cost floor, which helps determine the retail price." (Lamb 41) if i spend more on the quality of the chocolate then i can also charge more on the overall product.

When you consider the options of more expensive part of chocolate can be up to sixty dollars a pound then if i wanted to market it to a higher end store such as Nostrums or Dillard's then i could. 

  • Bulk cocoa (unprocessed, other than fermentation and drying): ~$1.50/lb
  • Ultra fine cocoa (unprocessed, other than fermentation and drying): up to $6/lb
  • Decent backing chocolate: $8-15/lb
  • A nice bar of chocolate made with bulk cocoa (better than Hershey's): ~$15/lb
  • High end baking chocolate (Valrhona): $20-25/lb
  • A nice bar of chocolate made with ultra fine cocoa: ~$50-60/lb

"Studies reporting consumers' attitudes toward, and intentions to buy, environmentally friendly products show widely varying results. A Nielsen study found that while eighty-three percent of consumers worldwide believe companies should have environmental programs, only twenty-two percent would pay more for an Eco-friendly product."
 (Lamb 6) While it is a smaller market, our face cream is a natural product that can also be sold in stores like "Natural Grocers" that only sell environment friendly products.

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