Develop a new idea for existing company Term Paper

Develop a new idea for existing company - Term Paper Example Until only recently the brand went through expansion and introduced the Skin care product range which now included lotion, cleansers, towelettes, make-up removers etc. Smooth and Soft face wash will be the solitary face wash related product offering in the company’s portfolio of products. However, given ample time and growth, the company plans on expanding its line of face wash with more special purpose face washes instead of a one-for-all product. We’ll use penetration pricing for Our Soft and Smooth face wash will cost $3.25. Another added advantage that we’ll get is that it will complement our cream range as people who use face wash and care for their skin will also make lotion and cream purchases hence this strategy will benefit us in the longer run. We’ll use advertising in Magazines and place ads which clearly highlight features of the new product and its lower price with similar benefits to the competitors. This would create a pull in the market. The promotion and publicity activities plan include a first time customers’ discount of 30% if purchased in the soft launch activity zone. The product will be showcased at prominent malls in the metropolis along with banners, decoration, flash mob, gift hampers and other awareness-creating activities. Sales promotion will be initially used which will include offers like giving small sample tubes & bottles in a package with the already well established cream and lotion range. Discounts will not be offered as the product is already lowered price to competitors while providing quality. If prices will be lowered than this then customers will doubt the quality, An indirect distribution channel will be used as we have to reach to masses and also our products are Shopping products which are usually sold by retailers at stores and shops as compared to specialty goods require direct