Created Product

In: Business and Management

Submitted By coinster777
Words 839
Pages 4
Wayne Steinkamp
American Intercontinental University
Unit 1 Individual Project
MKTG 205 – Principles of Marketing
10/13/2013

Abstract
Laundry detergent is a highly competitive market with growing changes in how it can be marketed. As the world grows laws become stricter on F.D.A. and E.P.A. regulations. Generations change and so do many societies that evolve in better living conditions. People demand more for less and detergent companies seem to stay in the market with their demands.

The Market of Laundry Detergent
Introduction
As demands by consumers change so do the detergent companies to meet that demand. Marketing plays a key role in how well the change stays in demand with the consumers. A company has to roll with the punches and let it be known to the general public that it has met their demand.
Market Force 1: Description and Analysis of impact on product/service
There are more than 650 detergent companies in the United States alone (Hoovers Inc., 2013). This market has annual revenue of around 30 billion dollars. Consumer and commercial segments are highly competitive with millions spent on marketing (Hoover, 2013). There are 4 major companies in the U.S.A. and1 in Germany, 1 in Brazil, and 1 in China. The detergent industry has great room for growth as countries evolve in better standards of living. China and India hold the greatest potential room for growth. By expanding advertisement of themselves in these markets one could continue to grow and stay in their moderate rate of growth. These companies have to keep up with one another in their marketing strategies to stay in competition for our dollar. Trade shows is one very important sales vehicle as well as TV, magazine, coupons, direct mail, and websites are the main marketing and promotional vehicles for these companies (Hoover, 2013).
Market Force 2: Description and Analysis of…...

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