|Marketing Plan |
"Going Green" is important to people right now so it is a great time to capitalize on this.
In order to determine the size and potential demographics of the market the company has conducted research. With the evaluation of other similar products we were able to determine the demographics. The market size is complicated due to the fact it will be sold in stores and on the internet, the internet allows for those in other countries to also purchase the product. By deciding what consumer behaviors we wanted to target I was able to obtain the demographic information. We want to target those who are health conscious. This would include those who use gyms, visit vitamin shoppes and those who shop at natural food markets and websites. The average age of this group of consumers ranges from 18 to 45 approximately, both male and females. Since this age group is a large percentage of the world population we anticipate a very large market. It is estimated that 15% of the population have gym memberships; this will be part of the targeted market. Upon gathering this information the company ultimately decided that the marketing would be targeted toward those seeking a healthy lifestyle. The product is a natural supplement so marketing it in locations that have healthy places nearby is important. In most cities there are different types of neighborhoods so the placement of stores that carry the product is important also.
Fat-Be-Gone has a very generic, predictable name that would probably lead people to think that it is similar to every other weight loss supplement on the market. The generic name is purposely chosen so that the product is not confused as some other kind of natural herbal supplement; we wanted the purpose to be clear when seeing the product in an ad or at the store. With that being said the product would appear to have a lot of competition when in fact competition for this product is scarce. Yes there are products that are made up of natural herbs that are intended to help one lose weight, if you read the fine print they are in fact not 100% natural. This product is apart from the crowd because when we say 100% that is exactly what we mean. Those who frequent the green market and appreciate natural/organic products will know the difference and be aware of this. There are very loose laws when it comes to being able to claim that a product is natural. We choose not to use this loop hole. If the product is from our company and is supposed to be organic or natural then it most certainly will be. This will show the consumers that we are an ethically correct company who does not want to get ahead by being. This kind of thing is important when it comes to word of mouth, many consumers would be offended to know that companies lie about their products ingredients. Also, besides the 100% natural ingredients our product focuses solely on the metabolism and boosting it. Not just in the short term which is what most of the competitors actually offer....