Reference no: EM133299129

We plan to introduce a new and improved hand wash under the Sunlight Brand. The company has never manufactured such a product before but since it deals with the sanitation of clothes and home, we can now also focus on the sanitation of hands. Especially after the pandemic, the importance of cleanliness, washing hands and using sanitizers has immensely increased. The Cosmetics and Toiletries analysis forecasted that there will be a further increase of 6.7% in the global hand soap market from 2020-2030. In Canada itself, there has been a 207% of rise in the demand for hand wash before 2020 v/s in the present time. Sunlight brand is already a very trusted brand with a huge loyal customer base. Our research shows that consumers wish to have a handwash that kills bacteria, smells fresh and maintains the softness of palms. We have thus decided to launch a new lime- and lemon-flavored hand wash which emits fresh fragrance but at the same time can kill 99% germs from your hands in every wash. Individuals that work, students and consumers in general who keep busy due to other household work, will all serve as our target audience.

Illustrate a Product Life Cycle diagram (and identify the stage that you think your product is]. Explain why you think that your [Induct is at this stage. a. Include what marketing strategies should be comidered to help more the product to the next stage of the lil'rtcycle?