Advanced Entrepreneurship - Essay Example

Product Websico is the company that is facing decrease in its market share for quite a while. The major reason for this is immense competition from the diverse product range of its competitors. In order to tide away this bad situation, Websico is planning to introduce an entirely distinguished product from that of its competitors. The product is flavored ‘Lassi’. “Lassi is an Ayurvedic yoghurt drink, which not only tastes wonderful but also helps digestion.” (Tmscotland, 2012) Target Market The target market of the new product is the extremely health conscious people of the United States.

This mainly includes people in the age group of 15 and above. The product will mostly be focused on the working class people. Therefore, the target market for this product is very wider like most other health drinks. But Lassi is different from other health drinks in the sense that it is made out of yoghurt. (Weaver, 2012) Message The focus message of the product is that it will help the digestion process and improve the immune system. Therefore, the Lassi will primarily be marketed as an after food drink.

This product has huge potential to capture market share as most people will prefer a drink that will aid the digestion process after a meal. (Newman, 2012) Channels TV and print ads will be the major marketing channels for the product. As the product is a health drink, it has to reach a wider market which is possible only through television and print ads. Print ads will mostly be done through health and fashion magazines. Marketing Strategies The main strategy to be adopted is to promote the product as a daily health drink.

The campaigning will focus on including at least 250 ml of Lassi every day in a person’s diet. Therefore, the health benefits of Lassi will be emphasized through the campaigns. The core focus of the campaign will be the following. 1. Improves digestion process 2. Improves Immunity 3. Kills fatigue All the ads of the product will focus on the above three themes. The above themes will help to generate good sales even during the winter seasons when most cold beverages face low sales. The above strategies will also help the company to develop its image as a responsible company.

Advertisements focused on the three core themes should be created. These should appear continuously for the first two months of the launch. Thereafter, based on the market response the frequency should be reduced or increased. The company should also sell free samples of the product at major shopping centers before the launch date. Cost Factors The major cost of this new product marketing is the advertising expenses. This includes all the promotional activities through television, print and internet ads.

The next biggest expense is in the distribution process. A hub and spoke model of distribution should be adopted in this case. Distribution will incur huge cost as the product will have to reach maximum retail outlets. Bibliography Tmscotland, (2012). Maharishi Ayurveda in Scotland. Retrieved January 28 2012. From: http://www.tmscotland.org/mav/tips.html Weaver, J.T. (2012). Health Benefits of Yoghurt. Retrieved January 28 2012. From: http://www.leaflady.org/yoghurt.htm Newman, (2012). The health benefits of yoghurt.

Retrieved January 28 2012. From: http://www.canadianliving.com/health/nutrition/the_health_benefits_of_yogurt.php