Product Mgt-Faber Castell

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Text of Product Mgt-Faber Castell

Bicol UniversityCollege of Business, Economics & ManagementDaraga, Albay

Submitted by: Joan Dorem H. Halcon Submitted to: Mrs. Cherry Ll. PagadorCourse, Year & Block: BSBA- MM IV Faculty in- ChargeFaber Castell Ball pen 1423 S-Fine (0.05 mm)

Product Information

The quality of our work often depends on the tools we use. Faber-Castell always provides the highest possible quality and guarantees you the best results. Countless demanding professionals rely only on Faber-Castell.

The Faber Castell ball pen S-Fine 1423, is another Faber castell`s best selling pens. It is described as economical stick ball pen, because of its affordable price and its high quality. It writes smoothly with its 0.5mm point. It has a high colour intensity ink which never fades. Aside from its great style, it has 3 tinted barrel colours and 3 ink colours: red, blue and black.

Product Packaging

In terms of packaging, the faber castell ball pen is placed in a sealed plastic. The product`s name, company`s logo, distributor, and a tag line is putted there. You can buy the product per piece. It costs P9.75.Product MarketabilityPen, a writing instrument, is very much essential when taking exams, making essays and filling out forms and even in sketching. Nowadays, pens are also used as promotional items that are given during conventions, business gatherings and to employees.Faber Castell ball pen is distributed in supermarkets and retail outlets. However, I still haven`t seen a TV advertisement about the product. But I am amazed by the fact that this pen is well-patronized by the consumers even without TV exposures.Product SurveyWhere: Linda Lin Department Store, located @Casiguran, Sorsogons` marketWhen: August 12, 11:00 AM- 1:00 PMObservation: As of 11:00 am, there were 19 black faber castell ball pens and 29 blue faber castell ball pens available. I was not able to consume the 2 hour observation, but when I went back to the store in the afternoon, the blue ball pens were not deducted. However, 4 of the black faber castell ball pens were sold.

Product longevityPen is the tongue of the mind, for it gives life to our minds. Because pen is a writing instrument, the faber castell ball pen will stay longer and instead, will continue to lead as the one of the best selling pen in the market. The good thing about this product is that its trademark, Faber Castle, is well- known as leading producer of high quality of writing, drawing and colouring products in the world for many years.Product ModificationSince there are lots of ball pens coming out in the market right now, promotions and TV advertisements would be really helpful. It would be nice if they will come out with an idea that for every sealed plastic faber castell ball pen, there is additional one ink pen (the stick where the ink is placed). On second thought, different ink colours of faber castell are also good.Recreating the Product AND It is important that the company should be aware of the competitors product and be able to find out future trends. The company should continue to improvise their product, to attract customers.