1. Your sister has just created a new skin care product
   that helps slow down the aging process. How should she market this
   product?

Solution:

Since this is a beauty product, she should first understand her
intended target consumer. This is a slow aging skin care product
hence the appropriate target market will involve people from the
age group of 40 and above. This will include both females and males
in the target consumer base. Once she identifies the target
consumers she should segment them based on their demographic
properties and understand the like size of the market for her
product. This will allow her to estimate the size of the market in
which she intends to sell her product. She should then do a
competitor analysis to find out different competitors in the same
marketplace selling the same skin care products. These activities
will give her a holistic view of the market conditions for her skin
care product.

After she has the holistic view of the market she has to then
understand the ways in which she can market the products to her
target consumers who are aged people above the age of 35 to 40. The
best way to market products for any entrepreneur is to use social
media and its huge implications on the business which can allow her
to reach a maximum audience with minimum cost. Using search engine
advertising, social media promotions and e-mail marketing can help
her develop a consumer base to whom she can cater to her current
products and future products if she develops. Hence, She should use
the social media and tools of internet marketing for a better, low
cost and effective marketing campaigns for her business.