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Final Business Proposal

Final Business Proposal
In 2009, Colgate-Palmolive Company introduced Colgate Wisp, a disposable and portable on-the-go toothbrush with built-in toothpaste that promises a just-brushed, clean feeling (Colgate-Palmolive Annual Report, 2009). The product performed well for a few months, but loses its grip in the market scene since then. There was a market plunge for Colgate Wisp and the revenue plummet. The goal of the firm is to boost its sales once more, and be able to acquire the market share in the industry thru innovation, lean production and workforce, and efficient utilization of appropriate resources. The purpose of this business proposal is to do an economic analysis of Colgate Wisp and provide valuable insights on economic trends that have a possible effect on the product performance.
Market Structure and Product Elasticity
The Colgate Wisp has the feature of a monopolistic competition market structure where a relatively large number of sellers produce differentiated products with widespread non-price competition and an easy entry to, and exit from, the industry (McConnell, Bruce, & Flynn, 2009). Product differentiation is notable in these particular market system wherein the company can create top quality disposable toothbrush, acquire an accessible location of stores that can sell the goods including the possibility of obtaining the market share using online trading, and state of the art packaging process. Hence, the Colgate Wisp product entered the oral care industry with ease, because there are no major barriers to entry such as large capital requirements. In addition, commodities in a monopolistically competitive market are generally price elastic. Colgate Wisp is relatively an elastic product because a slight changes in price lead to huge changes in the demand of the product. According to McConnell et al.

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