Marketing Management A Relationship Approach

Question: Describe about the Marketing Management for A Relationship Approach? Answer: Positioning Statement Pocket-Sized Washing machine is an innovative product that will help customers to wash clothes anywhere possible. This product will be of lightest weight and among the most compact washing machine across the world. Venture capitalist requires innovative and creative plan and are ready to invest money of 1 million dollars. This capitalist encourages new MBA graduates to come up with innovative ideas and implemment business plan in the most appropriate way. Target Consumer This product will target the customers who frequently visit for campaign and travel trips. Need or Opportunity Pocket-sized Washing Machine will help the travelers who have passion to explore new places with friends and families. It is important to consider the fact that carrying many clothes is troublesome because while travelling it is difficult to wash anywhere (Homburg et al. 2013). This product will solve the problem of the travelers and they can easily take few clothes and wash them wherever possible. This particular product has future opportunity for this section of people who enjoys travelling. Name of the Product Pocket-Sized Washing Machine Category of the product Pocket-sized Washing Machine falls in the Home Appliances category because it helps in washing the clothes just like Washing Machine. Key Benefit Pocket-sized washing machine will operate on batteries that will help in washing the stains of clothes for the travelers who are passionate to travel to new places with family as well as friends. Pocket-sized Washing Machine will have several key benefits: Packing few clothes for travelling purpose Washing clothes anywhere possible Saving Money Time Saver Primary Competition Pocket-Sized Washing Machine will face tough competition from nearest competitors who are dealing with the same product at same price. Other home appliances product serves the same purpose but pocket sized washing machine is slightly different in its business offerings. Other home appliances product can only remove stains from the clothes (Hollensen, 2015). It is noticed that people hates carrying more clothes while travelling and few stains can spoil the clothes. This particular product will help in removing these stains and it can easily be ready in few minutes. On the contrary, pocket-sized washing machine has competitive advantage over the above product because it will wash clothes in usual manner (Lee Carter, 2011). Clothes will be cleaned up in few minutes and travelers can enjoy their journey for the rest of the time. Primary Differentiation Pocket-sized washing machine differs from its competitors and trying hard to launch it so that people start purchasing it based upon their initial requirements. Each product has some Unique Selling Proposition that makes it viable in the global market (Wilson Gilligan, 2012). This particular product will help the travellers to travel around the world without even worrying about the clothes and its stains. It is known travelling different places will get people dirty and stained clothes. This particular product will help in removing the stains from clothes without taking much of time as well. This product will be fast and user-friendly for the targeted customers for future purpose. At the end of the study, it is easy to understand Pocket-sized washing machine will serve the needs of consumers after it is launch in the market. This is an innovative plan that needs consideration by the business planners. This is an innovative idea that will require 1 million dollar for final implementation. As it is an innovative product, it requires advertisement and promotional measures so that consumers are aware of its business offerings on an overall manner. Reference List Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Homburg, C., Kuester, S., Krohmer, H. (2013).Marketing management: A contemporary perspective. McGraw-Hill Higher Education. Lee, K., Carter, S. (2011). Global marketing management.Strategic Direction,27(1). Wilson, R. M., Gilligan, C. (2012).Strategic marketing management. Routledge.