BrainJuice, the singular product offering of Austin, Texas based AlphaWave Labs, came onto the market with very little promotion or marketing. Even after its entry into the market, the product has had little push from the firm itself to bolster sales or retain customers. The product is strong, as it is an all-natural alternative to prescription medication or energy drinks designed to help with focus. However, the strategy with which it has been marketed has almost failed to exist, necessitating an overhaul of the approach to increase revenues and secure enduring clientele. With promotional strategies amongst college campuses, more diverse customer advocates who make the BrainJuice readily available, and a digital push in terms of advertising, BrainJuice can become a viable competitor against energy drinks and drugs like Adderall. As a much healthier alternative that requires no prescription and a small cost, the potential for BrainJuice is endless. The capital required to provide sampling on college campuses will be expensive, along with the creation and manufacture of promotional materials and gifts, but doing so will increase the brand’s value and marketability. Therefore, BrainJuice will have the opportunity to become a major player within the market, rather than a niche product only used by a small sector of people who have become familiar with the product via word-of-mouth. Despite potential challenges, since BrainJuice already exists within the market, and some noticeable costs that the company is not used to spending on promotional expenditures, the future of BrainJuice looks very positive considering an innovative and diverse marketing plan that commands the attention of consumers. Thus, BrainJuice is most certainly the healthy alternative to all of the processed pills and drinks that students, athletes and employees use to maintain focus, making the future bright for BrainJuice moving forward. BrainJuice’s image and revenues will definitely transition majorly upon the release of the following marketing plan, as AlphaWave Lab looks to move into a totally new direction.
BrainJuice is manufactured and produced by AlphaWave Labs, a company headquartered out of Austin, Texas. The firm was created with the idea for BrainJuice in mind, and it sells and promotes only that one product. The company stemmed from the joint efforts of James Degelia, Sam Elick and Peter Kirby. Kirby was educated in neurochemistry, and Elick challenged him to find an all-natural alternative to study aids like Adderall that cause increased heart rate and decreased appetite. The beginning stages of development began in mid-2010, as Kirby and Elick dove head first into creating a viable product for the market. With a high demand for products that engage the user, whether during study sessions or class lectures, the development of the product could not have come at a better time. The product finally hit the market in late 2011, as BrainJuice is now available through the firm’s website, customer advocates who personally sell the product or through Amazon. The company is comprised of several well-educated executives who are constantly working to evolve both the product and the platform from which it is spread. The diffusion of BrainJuice thus far has happened substantially through word-of-mouth, making the brand image little known to the average consumer. The company realizes the need to branch out and address some of these issues, but the willingness to adapt is there. As a company rooted in Austin, Texas with roots in the area, the possibilities are endless for upward growth, as the area takes kindly to homegrown innovations and businesspeople.
Company Focus Strategy
Currently, AlphaWave Labs employs a mission statement along with five core principles and six beliefs. The mission for the firm and its sole product...