Most Significant Advantage
The product adopted for this task is an energy drink that is made from grapefruits without any additives. There are numerous energy drinks in the market, and one of the main ingredients in these products is caffeine. However, the prolonged use of caffeine has negative effects on an individual, which can lead to health complications in the future. An ideal alternative to such products is manufacture of natural energy drinks that are made of grapes, which has the same nutritional value that is offered by conventional energy drinks. Consumers will, therefore, be able to enjoy a nutritional and tasty drink while engaging in various workouts without worrying about their health.
Differentiation Strategies
There are various differentiation strategies that will be adopted by the company to ensure that its product attains the largest market share of healthy energy drinks. One is product differentiation whereby the product will offer a better nutritional value that other brands within the same sector (Davcik & Sharma, 2015). Additionally, there will be both reputation and service differentiation. There will be a print and video campaign in various gyms around the country where individuals will be requested to order the grapefruit energy drink, and in case they do not like the product; they will be guaranteed a full refund. The video campaign will be animated and will feature a character who is exercising after daily work, and after a few minutes, they will collapse on the floor. A bucket of grapefruit will then be poured on the character, and it will cover the whole screen. In the next scene, the character will jump up instantly and proceed with their workouts. At that point, there will be a message on the screen, which states: “Boost Your Energy, The Natural Way!”
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Another unique selling point of the product is that deliveries will be made directly to the gym (Sussan, Hori & Nakagawa, 2018). Once a customer places an order, it will be delivered to the respective gym, where they are working out. The importance of this strategy is that it will enable clients always to have fresh products whenever they are working out. Additionally, the packaging of the energy drink will be a purple container that is shaped like a grape with handles. From the packaging itself, a consumer can easily see that the product being served is grape juice.
Since it is a new product, the pricing will be the same regardless of the consumers who are making the purchase. The goal is to use a lower price that will attract consumers, even if the company is getting a loss. Once consumers are used to the product and appreciate its value, the price can then be gradually increased.
Brand/Product Service
My target consumers are individuals between the ages of 20 and 35, both male and female. Within this age group, people are conscious of their weight and will regularly engage in exercise to maintain or remove their body weight. By targeting this segment with nutritious energy drinks that have zero additives, the company is sure to have a steady flow of clients. Some of the critical attributes of our product include cheap, nutritious, and easily available. An important aspect is that while using the product consistently, clients will be able to fulfill the value of the energy drink.
In conclusion, it is essential to have a product with a unique differentiation strategy that will not only attract but will also retain clients. It is based on this strategy that the product will reach the target consumers, and there will be a regular supply of these products. After a week, the strategy can be reassessed to determine whether it has been successful, or there is a need to change the mode of operations.
References
Davcik, N. S., & Sharma, P. (2015). Impact of product differentiation, marketing investments and brand equity on pricing strategies: A brand level investigation. European Journal of Marketing , 49 (5/6), 760-781.
Sussan, F., Hori, A., & Nakagawa, H. (2018, July). Is Hokkaido “Expanding Horizon”? Seeking A Triadic Relationship of Place Branding, Destination Product Branding, And Souvenir Brand Personality in Regional Branding. In 2018 Global Marketing Conference at Tokyo (pp. 1628 1635).
