Product Marketing Proposal Essay
Although little is known about the origins of candles, this product has for centuries been used for different purposes. Candles are defined as a body of wax formed around a wick which can be lit to provide light and, in some cases, fragrance. In contemporary society, candles have different purposes. Candles are used as a source of heat and some therapy exercises uses candlelight to calm the soul and reduce stress in individuals. Following its evolving uses, candles are a major business product with the potential to attract vast returns. If infused in Wal-Mart’s business policies, this product can improve the economic structure of the company and increase its financial benefits.
The product Features and Advantages
Adore Candles Limited is a company that specializes in the production and distribution of candles. The company offers a wide assortment of candle products designed for various occasions, and that meet an array of customer needs.
Some of the products produced by this company include tealights, votives, sticks, pillars, birthday candles, and candles for religious purposes (Stewart). Customers are likely to use Adore products over competitor products since they are more alluring, safe, and have some of the latest designs, all factors that sway customers away from the competition. Furthermore, Adore Candles will have a variety of scents and retail at reasonable prices making them even more favorable among customers.
Some of the features that distinguish Adore products from goods from other companies is that they are handmade and are designed to suit the unique needs of the customers. Adore products are also of superior quality as they are made by qualified personnel and further, the company abides by the safety protocols set by the government. Finally, Adore Candles Limited has a wide range of candle designs that are beautiful and uniquely crafted and this hikes their competitive edge. These features make Adore products favorable to a wide range of clientele.
Target Market and Competitors
Some of the key players in the current candle market in the United States include Chesapeake Bay Candle, Armadilla Wax Works, Jarden Corp, Lancaster Colony, S. C. Johnson & Son, and Kingking candles. These competitors focus mainly on innovation in production technologies as a way to improve efficiency and shelf life. Adore Candles will seek to capture long-term growth opportunities by focusing on financial flexibility to invest in optimum strategies as well as continuous process improvements.
The target market for Adore Candles is individuals aged between eighteen and fifty years who seek to relax, observe different religious rites, hold birthday and wedding parties, and use a candle as a source of light and heat. The target market is individuals who earn $200- $400 monthly. However, the company believes that following the morphing uses of this product, the target market is most likely to change with time. Adore candles will have name tags which have tribal proverbs, such as Chinese and Malay, as well as other funny words that consumers may find attractive.
Pitching the Product to Wal-Mart
Having researched extensively about the competition and target market for Adore Candles, the next step would be to pitch the product to a retail chain. The choice of the retail chain chosen for Adore products was influenced largely by the fact that Wal-Mart is one of the biggest stores in the United States and attracts more than two hundred and seventy customers weekly (Corporate.walmart.com.). To begin, representatives from Adore Candles will meet with local the management of Wal-Mart store. Once an appointment with the manager is booked, Adore Candles’ pitch will begin by explaining the strengths of Adore Candles over its competitors in the market. Adore candles have their very own uniqueness of design, the scent of smell that can attract customers, and a variety of colors for the consumer to choose depending on their needs and preferences. The company further recognizes that the modern consumer is environmentally conscious and thus the products are producing using products that do not pose any negative impacts in the society (Soegoto 012164). Such knowledge about the product and the industry is valuable in a pitch.
The strategy Adore Candles Limited will use in-person visits to the store managers to demonstrate how the products work. A demonstration gives the decision makers a chance to feel the product, see it in action and also ask questions or raise concerns about the products. The demonstration should include information about the products screening so that the retailer can see consumer attitudes and purchase intentions. Another area that Adore Candles will focus on is the packaging of the products, considering that it will be competing with similar products in the market. Finally, pricing should be done in comparison with competing brands as well as in a way that helps the buyer to fill a profitable niche on its shelves.
This proposal aims to sell Adore products to Wal-Mart and use the latter’s market position to influence the dominance of these products in the current market. Some of the competing brands include S. C. Johnson & Son and Chesapeake Bay Candle among others. The strengths of Adore candles over these competitors are that they are made from eco-friendly raw materials and are further affordable to many consumers. Adore candles offer a wide array of candles that have a unique design and scent. The unique target market and competitive advantage over competing brands are some of the factors that can convince Wal-Mart to buy this product and have it on its shelves.
Corporate.walmart.com. “About Us.” Corporate.Walmart.Com, 2019, https://corporate.walmart.com/our-story. Accessed 15 Apr 2019.
Soegoto, D S. “Analysis of Eco-Friendly Preference and Eco-Friendly Product Quality; Their Implications to Customer Satisfaction.” IOP Conference Series: Materials Science and Engineering, vol 434, 2018, p. 012164.doi:10.1088/1757-899x/434/1/012164.
Stewart, Martha. “Candles: Shedding Light on the Various Types.” Marthastewart.Com, 2015, https://www.marthastewart.com/1136612/candles-types. Accessed 15 Apr 2019.