Assessing Marketing Opportunities
Question
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Answer
The success of every business lies in the effectiveness of the marketing department. One of the companies that market my favorite beverage is Strike Force Energy. The company’s product that is my favorite is the grape-flavored “Strike Force beverage Veteran Owned Energy Drink”. My preference for the grape flavor originated from how the marketing department enticed me through their advertisements, as well as sales and promotion procedures. The marketers used marketing skills that appealed to my sense of taste as I also became aware of the existence of the “Strike Force” grape flavor beverage. During period I have been consuming this product, I have had a positive relationship with the company staff with whom I interact regularly. This has encouraged me to share the advantages I derive from consuming their product with my friends, leading to an increase in the number of consumers for their product. This is an advantage to the company since it increases their sales and by extension, profit margins.
Some of the challenges that the marketers of Strike Force beverage face include identifying their audience. Although their primary target customers are the military, many other people consume their product after getting referrals from the company`s target consumer group. This has led to an unprecedented increase in the consumption rates for the beverage. This situation sometimes causes a shortage of the product in the market since the manufacturing department is keen to avoidtaking huge orders they cannot fill. They further face the challenge in content marketing. This is because they concentrate their advertising tactics to the expected market-the military – thereby overlooking other consumer segments. There is a possibility of the audience interpreting the adverts to mean that members of the army are the only ones who are welcome to purchase and consume the drink.
If I were to market the Strike Force beverage dink, I would use demographics segment since it will help in identifying and taking into consideration potential consumers depending on the gender, age, and income level meeting their specific needs more efficiently. In addition, the psychographic segment which advocates the identification of the users’ activities and interest instead of the demographic one will help me in identifying other individuals besides the military group that may be interested in the energy drink. This will ensure the manufacturing department gets accurate information on the market demand thereby avoiding a shortage of the product. Lastly, behavioral segmentation is applicable to this company’s product. The consumer behavioral traits to look out for include brand loyalty, benefits, pattern of use, and price sensitivity. This information will enable me to come up with accurate data that will ensure that Strike Force beverage is produced in the right quantities that will meet the consumer demand without triggering overproduction.