Saturday, April 26, 2014

Example Niche Marketing product assignment

         Work in groups of three. Your company has developed a new breakfast product. Your team’s job is to find a niche market for the product and to persuade the company to focus on this niche. This is called pitching. Follow the steps.

Step 1: Choose a product. Here are some suggestions:
        Specialized Fruit drink
        Breakfast bar with unique shape and ingredients
        A new food combination

        (your own idea) _______________

A 'carrot juice,' 'espresso,' 'raw egg' drink mix in a can.



Step 2: Describe your product. Make sure you answer:

What are the ingredients?

It is a drink that has carrot juice, coffee, and blended raw egg.

How does it taste (sweet, salty, sour etc.)?

It does not taste very good but it is very healthy. It is meant to be drank fast, like a medicine.

What does it look like?

It is brownish orange with chunks of yellow yolk. It looks like puke, which is why it comes in a 355ml can.

What existing products are your competitors?

Bottled Smoothies, V8, coffee, and eggs are all competitors.

How is it different from its competitors?

It comes in a can. It isn’t sweet. It is for the serious person who wants their vitamins quickly.



Step 3: Choose the best niche market for your product.
Make a list of the characteristics, groups, and types of people who probably want this product.

Body builders
Athletes
People who are in a hurry in the morning.

Why is your product important to your target customers? How can it help them?
Some people want to exercise first thing in morning but they don’t have time to prepare breakfast. If they eat a solid meal then it may feel uncomfortable in their stomach. Our product can help costumers who do not have much time and allow them to have the energy for a good morning workout.


Step 4: What is your product’s brand name?
+ + =


carocoffegg

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