As we know that Tang is the market leader of Powder Drinks industry which has covered 80 % market share and rest of are contains other companies. It is very difficult to identify the sales volume without any research. Based on assumption and little survey to different grocery shops, have tried to find out the each product share under the powder drink industry in each shop. On the other hand my main concentration on niche group who are the adolescents aged 5-16 years.
Though I shall also try to cover maximum share of the market, a niche is more narrowly defined customer group seeking a extinctive mix of benefits.
Marketers usually identify niches by segmented into sub segment. Like this mainly other competitor targeted to all type of people for their product. It can be single market coverage or single segmentation concentration. Beside this I also try to be a product specialization so that any segment can use our product. As the market is already created so we have to acquire market share from the competitor’s existing market share.
But here we have to consider the price of the product that is capable to pay the consumer because my product is not like below quality.
Our main concentration on mini packs which contains 20 GM powder. So we will basically compete with others who are making almost same product and exist in the industry like Tang, Rasa, Nutria-C and Foster Clacks. From this market we will get maximum benefit because the market is already created and needless to aware the consumer what type of product we are making and what type of core benefits will get after using this product. So it will reduce the cost of branding for creating the market awareness. For this, we can only invest money for establish the brand to targeted consumer.
This is comparatively easier to capture the market from the competitor’s market share if it is belonging in growth stage of Product Life Cycle (PL). On the other hand it is comparatively very much difficult to attract consumer from other industry. Because they are already be motivated by the other industry’s product. But if we make motivate to others that how they could get more benefit than the existing product of other industry. The main targeted other industries are health beverage, soft drinks, liquid fruit drinks, energy drinks, saline etc.
As our main target is to achieve maximum share from he existing industry according to our product category beside this will also profitable for us if we could gain extra market share from other industry. That’s why we want to compete with others. The brand name is Refresh. By hearing this name a mental or psychological effects grows in every single people that it will refresh either mind or body. Though it is summer season and it is too hot in outdoors, so people will feel too hot and they also lose their hydration level by sweating. So our drink helps them to get reiteration and also get energy.
So it provides the both facility energy ND the reiteration level and after listening our brand name for a second they can feel refreshment or cold or please moment. For this reason we have chosen the name Refresh. Refresh “the energy gainer” helps the adolescents aged 5-16 years to get return their energy which they lost. These aged consumers are very energetic they always run and play various types of games in outdoors, so, they lose their level very quickly. But by having this powder drink they can get return their energy level. Because, it contains microinstructions iron, iodine, and vitamin
A together with 8 other essentials nutrients (Zinc, vitamin c, vitamin E, folic acid, 8-2, B-3, b-6 and 8-12) which our competitor doesn’t offers in their drink. It is used for consumer product such as foods, beverage and health and beauty aid. Though our product is beverage or we are selecting conventional test marketing, it is attempting to measure the consumer response to a product by testing a sample of the population. Because, it is not an artificial product. The key to this type of testing is the selection of the test sides. We must be sure that we are representing city.
It predicts the success of a product during the full scale centralization. We can give a sample, to our consumer to taste our drink. If they like the taste of our drink then they can use our coupon that will give them some price off. So there will be possibility to purchase our product. The length of the test affects the test results. Conventional market tests are usually conducted over several months. The longer the test period, the more accurate the results are in predicting future market performance. Probably the most troublesome external factor that may affect test market results is competition that does to compete on a normal basis.
Competitors may attempt to drive test market results awry by increasing or decreasing their marketing efforts and making other changes in their marketing action. So, we have to care about this matter during the test period. Refresh can choose basic two promotional marketing mix strategies these are given below: Push Strategy Producer Whole Sellers ; Retailers Consumers Pull Strategy Refresh will follow these two promotional mix strategies at a time. In pull strategy they influence consumers by advertising sales promotional programs. Then nonusers make demand to retailers, about their choice.
Again retailers make demand to Producer. In push strategy producer wants to influence retailers and wholesalers by personal selling, trade promotional programs. Retailers are willing to motivate consumers by implementing personal selling advertising and sales promotional programs. But later we will go for hybrid approach that combine of push and pull. Finally we can conclude that the above analysis should always keep play a vital role in developing the marketing plan. So if we could follow this plan then obviously the success will come to us.
Cite this Different services to small companies
Different services to small companies. (2018, Jun 04). Retrieved from https://graduateway.com/assignment-86/