Clean Edge Case: Paramount Health And Beauty Company
Paramount Health and Beauty Company (Paramount) had entered the new non-disposal razor product, Clean Edge, in 1962 and discussed the new technology on the product through the managers’ experiences. It achieved $13 billion of sales and $7 billion in gross profits for 2009.The company decided to introduce the product into men’s market where there is strong presence in comparison to women’s market. The executives of Paramount discussed the changes on this product and the direct competitors in addition to the substitute products. They are concerned on marketing and advertising the product, but they argued on the positioning strategy where to launch it as a niche or mainstream position. The executives also discussed the branding considerations …show more content…
"The bigger the profit and the smaller the required capital base, the more profitably the business will run. Profitability is therefore an important success measure in company valuation." (Nicolas, 2014, p41). The 2010 Paramount budget totaled $48.3 million with $20.2 million for advertising and $28.1 million for consumer and trade promotions. 87% of budget marketing would be required to launch products in mainstream positioning. Moreover, Clean Edge razors suggested the highest retail price of $12.99 was in super-premium market and $10.50 of cartridges. The result is that Clean Edge is better than any alternative. Paramount may “build a subject perception of their product that makes its product seem unique” (Johnson, n.d, p1). It could be capitalized on new features of technology with less financial risk. Therefore, its benefits could appeal to the whole …show more content…
Many executives at Paramount agreed Clean Edge should be located in the super-premium segment while some others believed it should be launched as a mainstream, estimating of being the most effective razor on the market. Life cycle product showed the changes on non-disposable razor from introduction to maturity. The significant benefit of Clean Edge allowed for more thorough shave which can be communicated to all consumers. Among different competitors, Radiance product and Paramount were fierce competitors in the market. Clean Edge of Paramount is optimal band name to be addressed for the
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