4 pages/≈1100 words
Business & Marketing
Product Reassessment (Term Paper Sample)
Using the product or service you chose in Assignment 1, provide a plan to re-position this product or service to a new target market. Remember this could mean a new use for the product or service you have chosen. Write a five to six (5-6) page paper in which you: 1. Discuss this product in terms of its repositioned target market demographics using U.S. Census Data. 2. Determine the types of research needed to reposition this product or service. 3. Discuss the method(s) you would use to increase adoption rates. 4. Determine if a new service component will provide new interest in this product or service. 5. Anticipate the most likely distribution problems you would encounter and how you would address them. 6. Use at least two (2) quality references. Note: Wikipedia and other Websites do not quality as academic resources. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required page length. source..
Product Reassessment: Market Reposition Name Course Professor Date Product Reassessment: Market Reposition A changing preference has been observed with the consumers of beverages in the US. Research indicates that up to 25% of the total liquid consumed by US citizens was carbonated soft drinks (CSD). This was earlier in the decade. However, comparing the consumption of CSD and bottled water, the former was consumed more. This includes 15 billion gallons of CSD compared to 4.7 billion gallons of bottled water. This is a little reduction in the water consumption placing bottled water as the number five preferred beverage. This comes after CSDs, milk, coffee and beer. However by 2008 the consumption of water increased by 15% to 8.7 billion gallons of water while CSD went down to 14 billion gallons. According to the Beverage Marketing Association, the growth of bottled water consumption increased tremendously and passed that of CSD and as a result its revenues also increased. The revenue rose from $6 billion in 2000 to $12 in 2007. As a result many companies entered the market for bottled water in order to reap from its sales. There was an increase in competition between big multinationals like Nestle and PepsiCo and other smaller firms that entered the market (Trout 1996). The average American drinks up to 10 crates of water each year. The increase in demand for water was influenced by a belief that municipal water was not that safe for drinking. People sought safe drinking water and opted for bottled water. Up to 54% of Americans drinks bottled water. This constitutes of more than half the population. The number of regular consumers of bottles water is 36%. The consumption of bottled water has been on the rise over the years and so is the revenue. The number of brands of bottled water that exist in the US alone is 700 and this is bottled by 430 facilities around the c...
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