Section I: Summary of the background and facts
The U.S. Razor market is categorized into different divisions, which includes shaving and the non-disposable razors had a 5% per year growth and the refill cartridge had a 2% per year growth. The growth in the market was due to the introduction and change of new products. Clean Edge razor is part of the non-disposable razor and refillable cartridge division which was designed by the company Paramount. It took them three years to developed a superior razor. The Clean Edge razor which offers a close, smooth shave using a technological innovated vibrating head that stimulates and lift the roots of the hair for a closer smoother shave.
Currently, Paramount has two products in the moderate market …show more content…
Within the last decade, the super-premium segment had experienced remarkable growth which was fueled by numerous product innovations. Due to the enhancements in the performance of the Clean Edge; Paramount executives do not know where to position the razor within the three segments in the …show more content…
Due to the new technology involved in the new disposable razor, it would combine the Aesthetic customer and the Social/Emotional customer this would capture 70% of the niche market. Based on target consumer that would be able to purchase a $10.00 to $12.00 razor the niche market can be the test market before going to mainstream. It is not recommended that so many funds go towards one product that has not hit the market yet. Paramount may risk losing large profits if they allocate too much money to the Clean Edge razor marketing budget that was already available for the Pro razor. By utilizing the niche method, Paramount Clean Edge razor can save money and time. It would also allow the company to eventually phase out the Pro razor as its main product if and only if the Clean Edge proves to be a more profitable
The U.S. Razor market is categorized into different divisions, which includes shaving and the non-disposable razors had a 5% per year growth and the refill cartridge had a 2% per year growth. The growth in the market was due to the introduction and change of new products. Clean Edge razor is part of the non-disposable razor and refillable cartridge division which was designed by the company Paramount. It took them three years to developed a superior razor. The Clean Edge razor which offers a close, smooth shave using a technological innovated vibrating head that stimulates and lift the roots of the hair for a closer smoother shave.
Currently, Paramount has two products in the moderate market …show more content…
Within the last decade, the super-premium segment had experienced remarkable growth which was fueled by numerous product innovations. Due to the enhancements in the performance of the Clean Edge; Paramount executives do not know where to position the razor within the three segments in the …show more content…
Due to the new technology involved in the new disposable razor, it would combine the Aesthetic customer and the Social/Emotional customer this would capture 70% of the niche market. Based on target consumer that would be able to purchase a $10.00 to $12.00 razor the niche market can be the test market before going to mainstream. It is not recommended that so many funds go towards one product that has not hit the market yet. Paramount may risk losing large profits if they allocate too much money to the Clean Edge razor marketing budget that was already available for the Pro razor. By utilizing the niche method, Paramount Clean Edge razor can save money and time. It would also allow the company to eventually phase out the Pro razor as its main product if and only if the Clean Edge proves to be a more profitable