What would be a good conclusion for this research for new product offerings?

Please provide the conclusion for the following report.

Company and Product Description

Guard U is a start-up company that produces reusable cloth face masks. The product was developed as a response to the norm made upon by the ongoing COVID-19 pandemic, which has resulted in an increased demand for face masks globally. The idea for the product was conceived based on the need for a sustainable and eco-friendly alternative to disposable face masks. The company targets the Canadian market, specifically Nova Scotia. The report on the Global Reusable Face Mask Market aims to enable readers to understand the market and competitive landscape in a way that supports better decision-making. The research offers an assessment of market dynamics and segmentations, macroeconomic data, and competitiveness by marketing strategies or marketing mix.

Product Ideas

The idea for the new product was inspired by the need for a sustainable and eco-friendly alternative to disposable face masks. Disposable face masks contribute significantly to plastic waste, which is a growing concern globally. Reusable face masks are a viable solution to this problem, as they are washable, durable, and can be reused multiple times. The product provides value to customers by offering a sustainable and eco-friendly alternative to disposable face masks. The product's value proposition is supported by reports that show an increasing demand for eco-friendly and sustainable products globally. The product satisfies the growing need for a sustainable and affordable face mask option.

Founding Ideas

The founding idea of the Guard U reusable cloth face masks was based on the need for a sustainable and eco-friendly alternative to disposable face masks. With the increased demand for face masks during the COVID-19 pandemic, there has been a surge in disposable face mask usage, leading to an increase in plastic waste. The Guard U team recognized this problem and sought to offer a viable solution in the form of reusable face masks.

Providing Value to Customers and Meeting Needs

The product offers value to customers in several ways. Firstly, it provides a cost-effective solution for those who require face masks regularly. Reusable masks can be washed and reused multiple times, reducing the need for constant replacements. Additionally, the product caters to the growing demand for sustainable and eco-friendly options, which aligns with the values of environmentally conscious consumers. Furthermore, the product satisfies the need for a reliable and effective face mask option during the ongoing pandemic.

Marketing Mix

Product:

-Core product: cloth face masks

Augmented product: activated charcoal filter (detachable, to be inserted in the mask to be more protected from airborne virus, bacteria,..), can be embroidered with names if required (for online purchases only)

-Each mask contains 2 layers of cotton and 1 middle layer of filter-type fabric (polypropylene)

Product line:

Kids choice: colors in pink, green, yellow, orange; different types of cartoon figures on masks, size S-M-L

Adults choice: different colors, size S-M-L

Customized cloth face masks offer a unique selling proposition and cater to the customer's desire for personalized products. To enhance the product's appeal, the startup can provide additional features like adjustable ear loops or different types of fabric, such as cotton or silk. The company can also consider adding eco-friendly features like reusable filters, which can attract customers concerned about sustainability.

Pricing:

The startup can adopt a premium pricing strategy for its customized cloth face masks to reflect the unique selling proposition. The pricing strategy should consider the cost of production, including embroidery and customization charges. To stay competitive, the company can offer bulk discounts or bundle deals to incentivize customers to purchase multiple masks.

Placement:

We use both direct and indirect channels for our products:

Direct channels (for personalized masks): customers can choose and order online from our companys website, masks will be delivered directly from our manufacturer to the customers provided address. We can use e-commerce platforms like Shopify or Etsy to create an online store and reach a wider audience.

Indirect channels (for standard masks): our products will be distributed at grocery stores (Walmart, Superstore, Shopper Drug Mart,)

We use an intensive distribution strategy to attract more customers.

For our products, there should be no channel conflict because customers can only purchase online their customized masks (with their name embroidered,)

Promotion:

Advertising on Tv, radio, newspaper, online: we choose this type of promotion because we want to attract customers by different ways basing on their different favourite habits (most seniors watch TV or listening to radio, while others choose to read online newspapers)

Sales promotion: to encourage them to buy try our new products, we launch some kinds of promotion (20% discount coupon), family also choose buy 4 get 1 free for customized masks,..

Public relations by sponsoring school/ family events: this way, we can raise awareness among students/families about benefit of protecting their health by wearing masks.

The startup can also use social media marketing and influencer marketing to create brand awareness. We can leverage Facebook, Instagram, and Twitter to showcase the product's unique features and customization options. The startup can also partner with micro-influencers or bloggers to endorse the product and reach a specific target audience. Also, consider providing free samples or running contests to encourage customers to try the product.