BUS400 Driving Business
Description
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Stacy Blaise
SNHU/BUS 400
5 March 2023
Eco-friendly personal care.
As the newly appointed Chief Innovation Officer (CIO) of an established US-based
company, my goal is to introduce a new product or service that not only gives us a market edge
over our competition but also takes into account consumer’s willingness to pay (WTP) and solves
a real problem for them.
After conducting thorough market research and analyzing consumer trends, I have
identified a gap in the market for a high-end, eco-friendly personal care product line. With the
increasing awareness of environmental sustainability, there is a growing demand for products that
are not only effective but also eco-friendly.
Our company has a strong core competency in manufacturing and distribution, and with
our existing expertise, we can introduce a personal care product line that is made with all-natural,
organic ingredients and packaged in recyclable, biodegradable materials. This line will appeal to
consumers who are willing to pay a premium for products that align with their values and beliefs.
To ensure that our new product line is not easily duplicated, we will leverage our existing
relationships with suppliers to source the highest quality ingredients and develop unique
formulations that cannot be replicated by our competitors. We will also invest in branding and
marketing efforts that highlight the sustainable and eco-friendly aspects of our product line to
differentiate it from other personal care products in the market.
Furthermore, we will conduct extensive consumer research to understand their preferences
and needs when it comes to personal care products. This will help us tailor our product line to meet
their specific requirements, ensuring that they are willing to pay a premium for our products.
In summary, our new eco-friendly personal care product line will give us a market edge
over our competitors and address a real problem for consumers who are looking for effective
personal care products that are also sustainable and eco-friendly. By leveraging our core
competencies and investing in branding and marketing efforts, we can ensure that our product line
is not easily duplicated and appeals to consumers’ willingness to pay for high-quality, sustainable
products.
Purchase answer to see full
attachment
SNHU/BUS 400
5 March 2023
Eco-friendly personal care.
As the newly appointed Chief Innovation Officer (CIO) of an established US-based
company, my goal is to introduce a new product or service that not only gives us a market edge
over our competition but also takes into account consumer’s willingness to pay (WTP) and solves
a real problem for them.
After conducting thorough market research and analyzing consumer trends, I have
identified a gap in the market for a high-end, eco-friendly personal care product line. With the
increasing awareness of environmental sustainability, there is a growing demand for products that
are not only effective but also eco-friendly.
Our company has a strong core competency in manufacturing and distribution, and with
our existing expertise, we can introduce a personal care product line that is made with all-natural,
organic ingredients and packaged in recyclable, biodegradable materials. This line will appeal to
consumers who are willing to pay a premium for products that align with their values and beliefs.
To ensure that our new product line is not easily duplicated, we will leverage our existing
relationships with suppliers to source the highest quality ingredients and develop unique
formulations that cannot be replicated by our competitors. We will also invest in branding and
marketing efforts that highlight the sustainable and eco-friendly aspects of our product line to
differentiate it from other personal care products in the market.
Furthermore, we will conduct extensive consumer research to understand their preferences
and needs when it comes to personal care products. This will help us tailor our product line to meet
their specific requirements, ensuring that they are willing to pay a premium for our products.
In summary, our new eco-friendly personal care product line will give us a market edge
over our competitors and address a real problem for consumers who are looking for effective
personal care products that are also sustainable and eco-friendly. By leveraging our core
competencies and investing in branding and marketing efforts, we can ensure that our product line
is not easily duplicated and appeals to consumers’ willingness to pay for high-quality, sustainable
products.
Purchase answer to see full
attachment
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