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assess a market - Essay Example
Pages 3 (753 words)
MARKET ASSESSEMENT Name Institution Introduction Over the last few decades, there has been an increase in the need for environmental sustainable use of the environment. This has created a new market segment that prefers green products. In a bid to respond to this segment, the companies are trying to meet the consumer needs have capitalized on the use of green advertising…
Companies thus need to change their strategy and views on the upcoming market by conducting business in openness through provision of full product information to the consumers, developing novel innovations that provide new clean technological solutions to meet the green consumer needs effectively (Peattie 2001). This article analyzed products in the Procter and Gamble and Seventh Generation companies who have been very aggressive in green advertising identifying which structure they are in according to Peattie. Discussion Seventh Generation Inc is company which started out 20 years ago as a corporation dealing with eco-friendly products. It developed the market segment for clean cleaning products by developing its own line. However, currently the company is facing competition from major companies such as Procter and Gamble and Clorox which are now eyeing this market (Pride & Ferrell 2006). The company sales of eco-friendly product have tripled over the last one year. For instance, the sales of cleaning agents such as baby wipes, detergents and paper towels made profit of $150 million which is up to 20% increase from the previous year. ...
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