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Razor Competitive Advantage

2701 Words11 Pages

Introduction
Innovation is necessary for every business in order to grow and keep its position in the competitive market. To expand its business, Paramount Health and Beauty Company are preparing to launch strategy for its new technologically advanced vibrating razor. The innovative non disposable razor called Clean Edge that provides superior performance by stimulating the hair follicles to lift the hair from the skin and allowing for best shave. The first section of this report discusses changes occurring in non disposable razor category, Competitive Position along with market segmented and the strategic life cycle challenges based on the growth of the company. It will also discuss critically whether the consumer requires another razor or …show more content…

According to the case study, the main competitors for Paramount are Prince, B & K, Radiance health and other new entrants. Competed on price, lack of technology and innovation are related to new entrants in the market. In the market, ' 'Positioning is defining as the foundation of marketing strategy and brand 's position differentiates it from its competitors on attributes considered important by target customers and gives it a distinctive identity in their minds ' '(Ansari et al., 1994, p.257). First competitor Prince which had sold non disposable razor in super premium and gained first position in market share corresponding to retail dollar sales in 2009. The second competitor, B&K company managed to get third position in market share and unit volumes by superior technology and releasing super premium products. Other new entrants were introducing to market with super premium products, technology and more advertising dollars to reach market share. On the other hand, Paramount 's clean edge could compete with Radiance Naïve because it provided a product that is similar to Clean Edge 's. Also, it had gained 13% of market share. In order to get into market share, Paramount should launch a new design of technology in super premium segment. According to case study, Paramount was exist in the moderate and value segments and other products Pro and Avail were not able to satisfy the demand of latest innovative technologically products. Also, market share of 23.3% in retail unit indicated that the Paramount would be the market leader. Moreover, introduce it in the premium market will allow the products to gain high margin but, other competitors are taking advantage of presence there (Lucas &

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