Marketing - Essay Example

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As a supplement it can be taken with desserts or drinks. In order to develop its market and create a niche market position, strategies…
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RDA Vitamin Energy Shot has great potential to emerge as most desirable healthy food supplement that provides one with the necessary nutrients. As a supplement it can be taken with desserts or drinks. In order to develop its market and create a niche market position, strategies for its market growth broadly rely on creating a need for the product through innovative advertising. Effective marketing plans exploit opportunities for buyers and sellers where needs are created and later satisfied by the promised product (Levitt, 1960). For aggressive market growth of the product, right channels of advertising must be identified and used to attract target customers. While marketing identifies and determines the needs of the consumers, its promotional techniques become critical elements that help create customer base for the products.
It is important that the needs of the customers are met by the products. The various channels of communication provide the necessary platform to showcase the features of the product. They not only attract target consumers but also motivate them to try and cultivate consumption habit towards the product. Hence, effectiveness of channels and the creativity in the advertisement become two most important factors for the success of the product. In other words, aggressive market growth of RDA would mainly depend on the channels that are chosen to advertise the products. While there are various direct channels of direct marketing like email, questionnaire, free sampling, social networking etc., the integrated market communication hugely helps in delivering effective messages regarding products to wider network of target consumers.
Television advertising is more prolific but costly. However, various channels of viral marketing are not only cost effective but also well accepted. Products can be advertised on tickets, carry bags, balloons, posters, hoardings etc. The social networking sites and blogs have also emerged as cost effective channels of marketing that are very effective and trendy. Most importantly, they promote interactive sessions between consumer and producer, thereby providing ample of opportunities for creating a need for the product. The free sampling of RDA as supplement with chocolate flavored drink as promotion would also help develop taste for the product. Developing linkages with health centers and restaurants that serve healthy food would also help to expand its market. Its nutrient content would add value to it and thereby greatly contribute to its market growth.
The major threat would be from its competitors, both new and existing ones. While the old competitors would have already committed clientele, the new entrants would be trying to get customers by lowering the price. As such, RDA must try to create brand value through effective advertising and quality in products. Brand would provide the product with credibility and assurance for high quality for which cost becomes less important. The other areas that may threaten the product could be the budget, time constraint and rules and law. Budget and time also become key challenges for rapid market growth of new products. While television advertising is expensive but effective as visuals tend to target emotions with which people are able to identify with, viral marketing should be used as it is cost effective. As a healthy food supplement, its contents must strictly adhere to laws and rules pertaining to food control.
(words: 536)
Levitt, Theodore. Marketing Myopia. Business Harvard School Review, 1960. Retrieved from:
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