Market Analysis : Market Penetration Goals Essays

Market Analysis : Market Penetration Goals Essays

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Market Penetration Goals:

In order to enter the marketplace there are two significant issues that we must first address before we can proceed further. Firstly, taste. The diet wafer must be of a texture, taste, and consistency that is enjoyable for our targeted customers. Secondly, in order to progress into larger marketplaces, an in-depth and scientific study must be performed with real test subjects that can demonstrate concrete evidence of the weigh loss effects of our product. A taste test booth can be set up around the University of Calgary campus in order to gauge the public’s opinion on test flavors and textures. Furthermore, a scientific test can be conducted at the University as well in order to gain scientific evidence solidifying our products claims.

Sales estimates at the moment are far too unpredictable based on the fact that our product has yet to be finalized in regards to taste and consistency. Therefore, we feel a strong focus on taste, as well as building a strong brand reputation in Calgary are the most vital goals to which sales will follow. The appeal of our product initially will be, the taste, scientific claims backing the weigh loss capabilities, our local Calgary product appeal to Calgarians as well as strong price point under that of our competitors.

In order to identify prospective customers within Calgary we recommend starting by essentially “pounding the pavement” in that we must have Calgarians who fit our target market try these biscuits and get their feed back on taste, quality, texture and whether or not this biscuit is something that they are currently seeking or would be interested in purchasing if they knew it existed. An approach that we recommend would be to begin in Calgary farm...

... middle of paper ...

...m free samples to which they can have competitions to receive the free samples.

On the local Calgary front. The marketing tactics utilized will fore the most part be word of mouth and social media. Currently the brand recognition is non existent. We must start small, building our brand awareness and reputation at the University of Calgary wherein students will discuss this product because their professors are offering them work terms for credit. As well as word of mouth and brand awareness generated through farmers markets. As we generate a larger and larger brand awareness larger and larger markets will be made available. Expanding into independent branches, then local Co-op’s. As we increase our awareness within the local community we can take this proven success to trade shows as well a food brokers whom can then propel the diet wafer to a larger marketplace.

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