An examination of Loctite's choice to introduce Reinsurance Negotiation Confidential Information For Jlt Insurance Company Executive Summary, its brand-new immediate adhesive dispenser has heighted the fact that the dispenser would not be matching the company's existing product line. The reality that Loctite is a leader in instant adhesives and operates in a market which has low price level of sensitivity indicates that offering a low priced adhesive under Loctite's name would just be decreasing the business's earnings in the long run. With dangers of sales cannibalization and sales of Loctite's high-end dispenser's being threatened by the new potential launch, Loctite does not have a legitimate argument for introducing Reinsurance Negotiation Confidential Information For Jlt Insurance Company Executive Summary aside from the truth that the prototype of the brand-new development has actually been developed and is ready to be released under the company's name.
A suggested marketing mix in case the company decides to proceed with the launch advises the price to be listed below $250 with the item being targeted at a niche segment such as that of the 'motor vehicle repair work' so that the business does not wind up losing the market share of its high-end models to Reinsurance Negotiation Confidential Information For Jlt Insurance Company Executive Summary because of the item's low cost. Distribution through distributors is recommended based on the marketing mix rather than selecting the sales team considering that the expense of each sales call is $120 which would not be a financially practical move for a low cost item. A promotional project can not be gotten rid of from the marketing mix given that the initial awareness has to be created in order to reach out to prospective customers in the targeted section.