New Beverage
Raspberry Delight
Target Market Segment
The fitness drink market is highly segmented, and one of these segments includes energy drinks. However, energy drinks are not exclusively subsumed by the fitness drink product category; energy drinks overlap to some degree with other product categories such as soft drinks. An example of an energy drink that represents the overlap of both fitness and soft drink categories is Red Bull.
Not only is the market segmented according to usage, but also by ingredients into a spectrum with distilled water at one end and sugary drinks like Gatorade and Red Bull at the other. Somewhere in between we find the mineral waters, vitamin enhanced water, vitamin and mineral enhanced water, flavored vitamin and mineral enhanced water, sweetened and unsweetened varieties of the same, sugary and sugar-free varieties, and so forth. Propel is a popular vitamin and mineral enhanced flavored bottled water while Dasani is a mineral enhanced water purified by reverse osmosis.
From this approach, we (the company) have identified an undeveloped product category: vitamin and mineral enhanced carbonated fruit juice. One could draw overlapping Venn Diagrams showing people who drink beverages a) for energy, b) for the vitamin and mineral content, c) for the drink's ability to refresh them, d) for its pleasant taste, and e) for the pleasant way carbonated drinks "go down." Our initial target market segment is represented by the area where all of these diagrams overlap.
Consumer Behavior Patterns
Most consumers fall into two categories: innovators or imitators. Innovators are consumers who adopt a product as soon as they become aware of its presence in the market. Imitators are those who adopt a product only after they have become aware that others are using it. There are various ways to categorize imitators; as early majority adopters, laggards, and so forth. However, at least initially, we are depending on absolutely delighting the innovators in this segment with our product. If we can do a good job of this, then innovators (who are also opinion leaders), will positively influence the imitators to give the product a try.
Product Features and Packaging
The product is a carbonated raspberry-flavored fruit juice product enhanced with vitamins, minerals, and a special enzyme. The vitamins...
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