“Target Market”
Describe the target market for your NAB business including a description of your target market’s key demographic elements. You should also mention the geographic, lifestyle, psychographic, purchasing pattern, and buying sensitivities of your proposed target market.
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Prior information about the company for this question:
Create your Non-Alcoholic Beverage company name and explain the significance of the name.
The name of my beverage is Quench. This drink will be very satisfying and healthy.
Describe the beverage you will produce (key ingredients and any flavors you will offer).
Quench is a fruit, vegetable, and water drink that is 100% natural and gives your body electrolytes. This drink will have all fruit flavors like (peach, apple, pineapple) vegetables (cucumber, tomato, beet) and water which will be like an infused water.
Develop your company’s Mission Statement.
Quench is an all-natural drink that assists with giving your body a healthy way to stay hydrated, but a good flavor to enjoy.
Since its formation, the drink has concentrated on the production of non-alcoholic beverages, quench. The continued success of the company is associated with the continued production of this healthy and satisfying drink. This reflection looks into the opportunities available for the company and how best they can be utilized to enhance growth and dominance in the industry.
Adoption of the snack brand is one of the opportunities that the company can utilize to better its performance in the market. Diversification of products can enable a company to maximize profits. Many of the company’s competitors lack diversification in their product portfolio, thus provides an opportunity that can be utilized to maximize profits. Venturing out of the non-alcoholic beverage industries is one of the vital opportunities that can enable the company to increase its profits. By diversifying its inventory through such ventures and maintaining its strong brand, the company will be able to outshine close competitors in the market.
Secondly, the company can venture into various bars and restaurants to maximizer profits. Most of the bars and restaurants offer alcoholic drinks, thus providing an opportunity for the company through the provision of its products to individuals who do not take such alcoholic beverages. The company can offer their products in such refreshment areas to cater for the non-alcoholic clients visiting the facility. By utilizing the two opportunities, the company will increase its profits, thus translating to ultimate growth.
In short, the market offers various opportunities for the company, which can be utilized to maximize profits. The company deals with non-alcoholic drinks to both local and international clients. Offering their products in bars/restaurants and venturing out of the non-alcoholic beverage company is forms the significant opportunities that the company can utilize to better its performance. The possibilities can lead to profit maximization and the ultimate growth of the company.
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