Product analysis A product is intangible or tangible good. It is what most customers require so as to satisfy their needs. Before the company starts its operation, it needs to consider what type of materials it is going to use in the production of its commodities. The source of materials for the candles should be cheap or fair. Fairly priced raw materials will reduce the production cost of a company, and this will enable the company to sell the products at a fair price (Shaira, 2014). Availability of substitute goods from other competitors will have an impact the sales of a company, but the company can do away with this type of competition through product differentiation. Product differentiation is producing goods that are totally different from those of other competitors. This process can be achieved through producing attractive commodities. The company should look at the competitors’ products first, and then decide what changes it is going to put in place so as to have competitive advantage over them. The differences in the branding are normally less, but it can come in terms of advertisement theme or the packaging. Sometimes the differentiation is as a reason of customers perceiving that the difference occur, though if you look at the products there is no difference. Product differentiation can come in through the following sources: · Quality difference. The candles produced can be of good quality compared to those of other competitors. The quality difference goes hand in hand with the price. Good quality products are always highly priced (Sunil, 2014). · Differences in the design or the functional features. The companies’ products should be well designed than those of competitors. The product should be taken to the locations not known by the other competitors. · Sales promotion – sales promotion is an activity like advertisement. Many companies have the same way and same type of advertisement. The company should make its adverts totally different from the competitors. The difference in advertising strategy will make the buyers to see the products of the company as being different from those of others. · Difference in the availability. The difference in availability is the timing of the distribution the company has adopted. The timing should be different from the competitors. · Buyer’s ignorance when it comes to essential qualities and characteristics of commodities they are buying (Shaira, 2014). The customers have different taste and preference. It is not easy to satisfy the need of every customer in the market, but one can satisfy the need of a large number. A proper research should be done to determine the preference and taste of the customer concerning the candles. Once their taste and preference are determined, then the company should start the producing process (Philip, 2012). The candles need be very attractive and eye catching. It should be one that the customer can spot from a distance even when displaced in a supermarket or the ...