Question

Topic: Strategy

How To Market Dying Products

Posted by Anonymous on 5/26/2005 at 2:44 AM ET 250 Points
Well, I m a strategy manager and in a middle of crafting strategies for some of the obsolete products like soaps, ghee , herbal medicines (which in Asia are considered outdated). Now the question is how should I come up with the design that will result in increased user base of these products which are more or less declared obsolete because of the changing consumer patterns. Any good articles/ideas will be a lot of help in my pursuit of thinking outside the box.

Ayesha Saeed
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RESPONSES

  • Posted by Chris Blackman on 5/26/2005 at 2:56 AM Member
    Soap and Ghee are obsolete? Why?

    Sounds like you need to do a portfolio analysis and find out where each of your products sits. The BCG matrix is a useful tool.

    You can extract great cash from so-called obsolete products so long as they are not actually superseded.

    How? Well, keep them front and centre in the distribution network for a start. Use best available channels. Advertise to keep them front of mind with consumers.

    People still wash and cook don't they?

    And Herbal medicines are considered "alternative" in western culture, many people prefer a 'herbal" non-medically-prescribed therapy rather than see a doctor, pay for the prescription to be dispensed, and have maybe uncertain side effects. People think (often wrongly) the herbal medication is less effective but free from side effects...

    Loads to play with there. First, though, analyse the whole portfolio of products and set up a separate strategy for each one, then execute it!

    Come back for more ideas if this is not clear, or contact me directly (via my profile).

    ChrisB
  • Posted by Mushfique Manzoor on 5/26/2005 at 3:45 AM Member
    hi Ayesha

    i really dont understand why you are saying soaps, ghee are obsolete. people will continue to wash body and clothes for which soaps will be used. even if ghee is bad for health if consumed too much, then again its use will be there as long as people eat.

    i dont know where you are from, but while western world is now bracing herbal medicine, traditionally poor population of asia and africa are more inclined towards regular Medicines.

    i would suggest you to do some analysis of your portfolio. you can use the BCG matrix and see whether the brands/products that you think are obselete can be milked more or not. also do a Consumer Perceptual Map to understand how the brands/products are positioned in consumers mind and it will give you the idea how to change ther perception.

    for articles on strategies, you can check the following link.

    https://www.marketingprofs.com/arch/allarticles.asp/15

    marketing strategies for soaps, ghee and herbal medicines are different from each other. so please give us more information, so that we can help you better.

    hope this helps.

    cheers!!
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