SUBJECT: Marketing Management

PRODUCT: NATURALITE AIR PURIFIER

INTERNAL EVALUATION OF THE PRODUCT

SUBMITTED TO:

PROF. NITYANAND JHA

SUBMITTED BY:

HIMANSY SINGH: 1007AL0031

KINJAL KATARIA: 1007AL0039

HELIK SONI: 1007AL0027
YUGUL BUTANEY: 1007AL0094
YASH BUTANEY: 1007AL0092
VISHWAA CHAUDHARY: 1007AL0088

TABLE OF CONTENTS
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1) INTRODUCTION

(i) Problem Area/Idea

(ii) Product Concept

2) ANALYSIS

(I) Marketing Strategy

Target Market

(i) Segmentation

(ii) Targeting

Value Proposition

(i) Differentiation

(ii) Positioning

(II) Marketing Mix

A. Product

B. Place

C. Price

D. Promotion

EXECUTIVE SUMMARY

Following a study of marketing's theoretical concepts, the next step in the learning process is to
comprehend its practical consequences and applications. During the course of creating this
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research, we learned about a variety of consumer attitudes and beliefs concerning air purifiers, as
well as the market's potential, which we attempted to investigate using our limited expertise.

We did our best to plan the marketing process and decide on a strategy for launching this product
on the market during this procedure. Our overall goal was to identify the appropriate market
sector and target market for this product, as well as to place it in the market with logical pricing,
branding, and advertising. We did this by segmenting the market and analysing the entire market
using primary and secondary data. We also provide some plausible explanations for our findings
in this study. Finally, this research comes to a sensible conclusion concerning the feasibility and
impact of marketing our innovative, one-of-a-kind product, the "Naturalite Air Purifier."

INTRODUCTION

Air purifiers are not widely used in our nation. Because of continual air pollution both outside
and inside the home, this air purifier concept originated mostly in western countries. In Western
countries, the air purifier sector is becoming a very popular and growing business. As a marketer,
we've come up with the notion of producing XYZ Air purifiers and selling them locally.
According to the World Bank, India can prevent tens of thousands of fatalities due to air
pollution each year. As a result, our goal is to mitigate these issues while still capitalising on the
market opportunity. Despite the fact that no other company has yet introduced this product, we
can sell it at a decent profit. Furthermore, we have devised a marketing strategy for selling and
positioning our goods in the consumer market. And to make customers feel joyful and healthy, as
well as to help them understand why they should sacrifice their health and the health of others
when our air purifier is available.

ANALYSIS

1) MARKETING STRATEGY
A) TARGET MARKET:
a) Segmentation:

The goal of segmenting a market is to focus marketing efforts on the

subset of customers who are "most likely" to buy our product. If done
correctly, this will aid in ensuring the best possible return on our product
to individual clients or businesses. Geographic, demographic,
psychographic, and behavioural traits can all be used to segment people.
As a result, when segmenting the consumer market, we attempt to
remember that segmentation is established by a match between the
benefits of our offering and the need of the prospect. As a result, we
decided to split our market based on geography and demographics.

Geographic segmentation: in geographic segmentation we divided the

whole market in different geographical units in terms of population,
density and region. Such variable is described below-
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City or metro city: We are mainly focusing on urban people who are living
in the main city. We will supply our product in the main division through
our stores.

Location: We concentrated on selling our product to customers who are

living in Delhi, Mumbai etc. because statistics show that the people of
these areas spend more money for their health concerns.

Demographic segmentation: in this segment we identified our customer

by criteria such as age, race, religion, gender, income, occupation etc. we
choose some of the criteria that relates to the interest, need and ability of
the customer to purchase our product.

Below we stated the chosen variable of demographic segmentation—

Consumer market:

Age: for children who are fewer than 12 and the main purchaser are their
parents who are around 35-49 and 50-64.

Occupation: an air purifier is not a cheap thing to buy. So occupation of

the customer greatly influences our product. Those who are doing business
or working in service business, like doctors, will probably buy this
product.

Education: education is very important because those who are less

educated are not aware of the condition of their health and their family.
So, those who are educated and concerned about their health will probably
buy this product.

Income: this air purifier will cost a minimum 15,000. So, it is not possible
to buy those who have less income. Those who get around 28,000-35,000
taka per month will be able to buy this product.

Business market: In the business market, especially those who are

involved in service business like hospitals, nursing homes, and day care
centers will buy this product if they are strongly motivated to buy this
product.

Attractiveness of this segmentation: We may simply conclude from the

foregoing that this area is well-suited to attracting the correct customer.
Because we choose the proper people in the demographic segment who
have a minimum income or purchasing power to acquire this product. On
the other hand, we have easy access to this market through our retail
outlets and sales representatives across India. The biggest advantage we
have is that there aren't many competitors in this market, therefore it's
large enough to serve effectively. However, the important feature of this
segmentation is that we don't need to have a separate marketing mix for
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each variable. And every targeted buyer will react in the same way. As a
result, we don't have to face competitors because there is no actual
competitor in the market.

b) Targeting:

Our market targeting strategy is CONCENTRATED MARKETING or

NICHE MARKETING or FEW SEGMENTS.

We're focusing on defining a target market because it simplifies,

improves, and lowers the cost of developing, selling, distributing,
advertising, positioning, and improving our product, service, or idea. A
target market is a group of buyers who have similar wants or qualities that
a firm chooses to cater to. We opted to enter numerous segments after
assessing different segments, including geographic and demographic
segments, with a focus on demographic segments. The most crucial thing
to do before picking actual buyers is to settle on a target market strategy.
The following is our target market strategy:

Target market profile: Target market profile is basically customers

buying behavior and it answers why a customer buys our product. Before
answering those questions we want to mention who are the main or
targeted customers of air purifiers.

● A family with young children: In India every year many people die due to air pollution
both inside and outside home. So those families who have young children and want to
bring up their children in a better environment will be our target market.
● Those who are concerned about health: There are many well off families who are very
much concerned about their health. Like a family whose members are in service business
like doctors.
● Those people who are living beside the road: Basically in urban cities like Mumbai
60% of the houses are just beside the main road, which results in lots of pollution inside
the house.
● Those who have asthma or allergies from dust: According to statistics there are 850
million people who are suffering from various air pollution caused diseases. So for these
people, our product might be helpful for them.
● In service business: In service businesses like hospitals, nursing homes, day care centers
these people can buy this product for their own benefits. Moreover, in offices where the
degree of air pollution is higher, you can use this product.

B) VALUE PROPOSITION

a) Differentiation
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Target group of customers are smokers whose families are at a greater risk of hazardous
chemicals due to passive smoking, those who are concerned about their health, those who
are living beside the road, in service business and respiratory diseases among small
children have increased many folds and the parents are searching for a solution to the
problem of air pollution, hence they make the second group of customers who will be
focused on. Apart from these, people with allergies due to smoke, dust particles, pollens,
etc are likely to benefit from the product; hence they are also from a part of our target
group.

b) Positioning:

The product is ideal in today’s times when pollution levels have increased so much and
continue to do so. It will be positioned based on its quality and effectiveness in cleaning
the air. Technology equivalent, if not better than any other filter. Having already proved
our worth at leading hospitals and IVF centers, we will use them as examples to
showcase our quality.

Simply, positioning is how the target market defines itself in relation to our competitors.
In a broader sense, positioning is the technique by which marketers try to create an image
or identity in the minds of their target market for its product, brand, or organization. It is
the ‘relative competitive comparison which their product occupies in a given market as
perceived by the target market.

Consumers have various choices, maybe it's not possible for us to fulfill all the
requirements individually. But our endeavor is to fulfill the consumer’s needs at any cost
and also respond to their changes.

Among the various benefits that our consumers are looking for in each 4ps, we decided to
position ourselves in terms of Product and Price.

2) MARKETING MIX

A) PRODUCT: they want a quality product which will fulfill their benefits as well as the
product should be user friendly, easy to maintain, good design, long time warranty, free
servicing, brand, support and appearance.

Product plans reflect the business unit's objective and the industry in which it
operates. We'll position our product by utilising marketing mix elements and
offering a variety of benefits with it. The difference between our product and the
other brand will be clearly defined by the values it offers. On the other hand, in
order to keep up with the product market, we will respond rapidly to our
customers' needs. The batch number, manufacture date, and general instructions
will all be printed on the product. We developed our own brand strategies in order
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to better market our product. We explained our brand approach and why we chose
it in the paragraphs below:

Brand strategy:

Consumer impressions and feelings about a product and its performance are
represented by a strong brand name. As a result, the true value of a successful
brand lies in its ability to elicit consumer performance and loyalty. We're planning
to use a new brand strategy to position our product.

Rational explanation for choosing this brand:

Though Naturalite is a new brand in India, it will establish strong brand equity in
the minds of people in India. So after evaluating our target market's wants and
desires, we finally decided to launch our new product Naturalite Air Purifier.
There are also other reasons for choosing this strategy. These ares-

● Naturalite will have strong brand recognition.

● This brand name ‘Naturalite Air Purifier’ suggests that our product is some kind of air
purification product and basically relates to health.
● Though Naturalite will always maintain a good quality so it also suggests that it will not
be different from others.
● It will give our product instant recognition and faster acceptance.
● It will save our high advertisement cost and minimize our risk.

This new brand strategy involves the use of an attractive brand name to launch a new or
modified product in a new category. So our new product brand name is ‘Naturalite Air
Purifier’.

Our Product Price: Though we are adopting penetrating pricing so we have decided to fix our
product price at 5000-15000 Rs. Prices will differ for different models we have. We fix this
price by analyzing current market demand, product cost analyzing and other factors. Below we
are showing differences of our product price to other products' prices.

Comparison of our product to others: In the market, we have a variety of competitors. However,
none of them sell air purifiers; instead, they sell air conditioners with minimal ventilation or air
cleaner systems. People, on the other hand, buy those things solely to keep cool. As a result, our
product has a significant price difference from theirs. The pricing comparisons with other
companies are shown below.
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B) PRICE: our target market consumer expects an affordable price, but not so cheap,
because it’s carrying our brand. So they expect to have affordable prices with good
quality. And also list price, financing, discount, leasing option etc.

Basically, a marketer needs to review four factors to arrive at a price: pricing objectives,
cost, competition and demand. Along with our pricing objectives, cost, and demand we
will give emphasis on competitor’s price while setting our one as we are facing
competition from the other electronics companies in India like LG, SAMSUNG, and
PHILIPS etc.

On the other hand, we will use penetration pricing, which indicates that our product's
price will be relatively low during the early stage in order to penetrate the market rapidly
and deeply in order to attract a large number of buyers and acquire a huge market share.
Another significant factor is that it is in line with our mission statement. This strategy
will work because-

● Our target market is quite price sensitive.

● Production and distribution costs fall as sales volume increases.
● Low prices will help us to keep out the competition.

C) PLACE: availability, they expect to find it in each electronic retail store, which are
located all over India. They also expect to find sales agents, technicians, logistics etc in
each place.

Placement (distribution) strategy:

The mechanism for making a product available to the consumer is called place, or
distribution channel. The flow of goods and services from manufacturers to merchants to
customers is the subject of distribution strategies. We've chosen to switch to direct
marketing once we're no longer in need of intermediaries or re-sellers.

Product Availability: This product will be available in each of our retail stores which are
located all over the country.

Nature of distribution: From the manufacturer we will supply our product to each of
our local area managers then he will send this product to his entire retail store which is
located in his/her area.
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How to avoid channel conflict:

We will periodically evaluate our channel members based on their performance and, if
necessary, make changes to the procedure. If a problem emerges, we will appoint one of
our managers to act as a diplomat among channel members to resolve it. We will also
appreciate frequent formal discussion with channel members in order to acquire an
understanding of each other's viewpoints. However, because we have allocated seven
managers to seven distinct stations around the country, each of whom has a different area
to control, there is little chance of channel conflict.

D) PROMOTION: our target market wants to know about the right information along with
the instruction manual. And they expect to know whether it is really helping them or not,
are there any demerits of this product? etc. They also expect to see attractive promotions
which offer a discount price.

Promotional Strategy:

Promotion is a company's unique combination of advertising, personal selling, sales

promotion, and public relations to achieve its advertising and marketing goals. Promoting
achieves the following goals: moving the target market through the following phases:

Consumers are thought to be unable to skip phases and must instead progress through
them. Promotion is used to advance a target market from one stage to the next, ultimately
leading to a purchase. Our marketing strategy is to use personal selling to efficiently
reach our target market. Personal selling entails a personal presentation by the firm's sales
force in order to sell products to the shop.

Media Selection:

When it comes to selling items, the media is crucial. It aids in customer education as well
as the development of a positive relationship between vendors and customers. We chose
personal communication channels for our product. Our marketing sales agent and sales
staff will engage with our target market through various channels, and when customers
visit our retail store, they will persuade them to buy our goods. On the other side, we plan
to promote our goods through newspaper advertisements and, at first, through a launch
ceremony. We only require an effective salesperson, which we currently have, as well as
solid communication skills on the part of our salespeople.

However, in order to promote our product, we will first visit several hospitals and nursing
homes to inform them about its capabilities, how well it can filter the air, and the benefits
that people would receive after purchasing it. We will also hold a lecture on the effects of
air pollution on the human body, as well as how to regulate it, in order to sell our product.
In addition, we will place advertisements in newspapers in the health section. Our target
customer will pay greater attention to these.
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Buyer- reading stages:

Buyers will respond favourably to our goods due to our promotional plan, which will
encourage them to purchase it. They will be made aware of the negative effects of indoor
air pollution through various seminars. Then, as a result of our advertisement, they will
learn more about our product. Then they will believe that this product will be extremely
beneficial to them. They'll get used to our goods. They will then compare our goods to
similar products, and once they realise that our product is unique, they will be convinced
of its value and eventually eager to purchase it.

CONCLUSION

The report above explains how we may develop a prospective campaign for the brand "Naturalite
Air Purifier" that we have chosen. After the preceding discussion, we should have a better notion
of how we can deliver messages to our potential customers through various means without
confusing them, so that they will begin to utilise our brand and become devoted to it. We used
serious discussion about the health effects and how our product can reduce all of these risks in
our promotion. Our campaign's goal is to keep and develop potential customers into actual
customers. However, it is expected that our campaign will improve brand sales and contribute to
the development of a strong brand image for ‘Naturalite Air Purifier’ that Air purifier is not
harmful for our health so anyone can use this without any worry.

BIBLIOGRAPHY

Marketing Mix https://byjus.com/commerce/marketing-mix

Target Marketing and it’s factors https://www.investopedia.com/terms/t/target-market.asp

Segmentation and Target Marketing

https://www.thebalancesmb.com/target-market-defined-1794389

Value Proposition
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https://corporatefinanceinstitute.com/resources/knowledge/strategy/value-proposition/

Differentiation & Positioning

https://marketing-insider.eu/marketing-explained/part-i-defining-marketing-and-the-marketing-
process/differentiation-and-positioning/

4P’s of Marketing Mix

https://www.superheuristics.com/marketing-mix-4ps-with-examples/