GRE Argument Essay 10
The following appeared in a memo from the marketing director of Bargain Brand Cereals.
“One year ago we introduced our first product, ‘Bargain Brand’ breakfast cereal. Our very low prices quickly drew many customers away from the top-selling cereal companies. Although the companies producing the top brands have since tried to compete with us by lowering their prices, and although several plan to introduce their own budget brands, not once have we needed to raise our prices to continue making a profit. Given our success selling cereal, Bargain Brand should now expand its business and begin marketing other low-priced food products as quickly as possible.”
The above argument is given by the marketing head of the company. He has tried to prove his good marketing skills and he is trying to increase the company’s market by introducing new products. As per him, the first product of the company ‘Bargain Brand’ breakfast cereal has established its market and it was a hit with the customers. Even this cereal has drawn customers from the top-selling cereal companies because of its low price and good quality. Hence, right now the company should take advantage of its goodwill among its customers and introduce new products in the market.
I completely agree with this argument placed by the author as when the customers are happy with the service provided by one company, and then they definitely want to go for the other services provided by the same company. According to a famous saying, “First impression is the last impression.” Hence, this is the right time for the company to introduce the new product. However, the company has to take extra care to prove that it is the best. The quality of the new product should not be compromised. The company should make sure about the quality and the prices offered by the company being the best in the market. The new product should equalize itself with the old products. Even if the company makes a little less profit in the beginning, the quality should be the best.
According to the author, this is the right time as the company is already established in the market and giving competition to the top-brand companies. The customers trust the company and its products completely. Hence, if the company launches new and different products at this time, it will give the company a good name. The company can use the success of its first product to expand its business. The advertisement of the new product can be based on the existing product. The profits of the business depend on the good quality and the good advertisement. If a company takes advantage of its success at the right time, it grows very quickly. According to the marketing head, people have started to know the company and if the second product launched will be good enough then it can give the company’s business a boost.
However, the company should not take everything for granted. The company should consider all other factors, which can affect the promotion of the new product. The company should collect all the data related to the market and should research for the demand of the product before launching the new product. There is a possibility of tough competition from the other companies that are already selling the same product at much cheaper rates. Hence, there will be tough competition. Therefore, the company should be careful in selecting the new product for launch. The quality, taste, and price of the product have to be better than the other products in the market.
Hence, the suggestion made by the marketing head is correct and the company should think about launching a new product, but it should do it after a careful study of the market.