Pricing and Branding Strategies for Gillette MACH3
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The assignment analyzes the product line MACH3 of Gillette company, which has five variants with different features and pricing. The Chief Marketing Officer recommends creating low-cost razors under a new product line name to compete with Dollar Shave Club rather than disturbing the MACH3 image.
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The company that has been selected for analysis is Gillette. The product line picked is MACH3. There are five variants within the MACH3 Product Line of the company. The details of these product variants are given in the table below: MACH 3 Turbo Razor MACH3 Sensitive Disposable Razor MACH3 Sensitive Power Razor MACH3 Signature Edition Razor MACH3 Smooth Shave Price ($)10.999.89-18.4911.9936.999.89 Razor TypeNADisposableNARefillableDisposable Blade QualityNA2/53/52/52/5 Number of Blades NA3NA33 Power Function NANoNANoNo Pivoting HeadNAAdvancedNAAdvancedAdvanced Primary Shave Need NAFace ShavingNAFace ShavingFace Shaving Precision Trimmer NANoNANoNo LubricationNA2/53/52/52/5 Irritation Fighting Features NA2/52/52/52/5 Source: Gillette MACH3 (2016) As the Chief Marketing Officer of the company, I would prefer to say that the pricing of the products are good considering the brand name. The Gillette brand is preferred by the consumers and that is the reason this company can play on premium pricing of the products. In some of the products such as Refillable ones, namely, MACH3 signature edition, the main revenue generator is the extra blades customers want to buy (Okonkwo, 2016). The pricing of the current products can be reduced which might help in penetrating the market further in comparison to the competitors (Mas & Ng’weno, 2010). However, it might impact the brand value of the company as the premium image of these products might get impacted.
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Therefore, considering the current pricing levels and brand value, I would prefer to come up with low cost razors to beat the competitors like Dollar Shave Club under new product line name rather than disturbing the MACH3 product line image. References Gillette MACH3. (2016).Gillette.com. Retrieved 18 November 2016, fromhttp://gillette.com/en- us/products Mas, I., & Ng’weno, A. (2010). Three keys to M-PESA’s success: Branding, channel management and pricing.Journal of Payments Strategy & Systems,4(4), 352-370. Okonkwo, U. (2016).Luxury fashion branding: trends, tactics, techniques. Springer.