Purple Cow Dairy: Marketing Assignment

Only available on StudyMode
  • Topic: Omega-3 fatty acid, Milk, Marketing
  • Pages : 5 (1729 words )
  • Download(s) : 90
  • Published : December 4, 2008
Open Document
Text Preview
Marketing I Assignment: Purple cow dairy By: Brandon Lyddon Purple cow dairy needs to increase its market share within the dairy product market itself. It needs to create a new marketing campaign to advertise its current products and display its new line of omega 3 dairy products. Purple cow dairy needs to reach out to its current consumer base and new consumers as well and demonstrate why its product line is better then the competition, display its benefits to healthy conscious consumers. Purple cow dairy must be cautious when putting a price on the new product line. While it will be more expensive then its current product line, they must be careful to price the product as it must be large enough to draw in a good profit, but not too high to scare away price cautious consumers. If the new product line is to be successful, Purple cow dairy must overcome the minds of consumers who often buy grain based foods such as bread in order to get their need of omega 3 fatty acids, consumers only 4% of the time buy dairy based products to get this desired fatty acid. Because of a low traditional sale of dairy based products with omega 3 acids, purple cow must become a market leader to promote omega 3’s within dairy products to increase the market of dairy products with omega 3’s. Strengths: Omegas 3’s have a huge health benefit in the areas of learning ability, mental development, immune systems and vision. They are also linked to treatment in cardiovascular disease and improvement in cognitive functioning. This would be beneficial for any product that contains omega 3’s due to a consumer who is more health conscious now a days. Purple cow has a desire to sell a new product line which is healthier for consumers then other products currently on the market. Due to the fact that Purple cow is a smaller based dairy company, its expenses(marketing efforts, manufacturing & transportation costs, wages) will be lower than current competition such as Nestle or Nielson. This allows for Purple cow to sell a product cheaper than the competition while still maintaining a fair profit. Purple cow is abit of a niche market, in the sense that it tries to sell products with unique traits such as organic milk, as opposed to the competition which is selling traditional based dairy products which can draw in consumers looking for something different. Purple cow has a specialized workforce keen on experimenting with new formulations to create products which meet the needs of the consumer and are heavily focussed on the quality of the product. There is a small market share of products (only 4% of people buy milk based products due to omega 3 benefits) which contain omega 3’s, allowing for Purple cow to be a market leader if successful in selling its new product line. Weaknesses: There is a small market share of products (only 4% of people buy milk based products due to omega 3 benefits) which contain omega 3’s. Therefore the market is small and not very profitable at this moment and any incoming company could fail at selling the product, including Purple cow dairy. Health based information on food products is often confusing or contradictory to the consumer, thus making it hard for the consumer to know which product is right for them and what the benefits really are and how much of a difference they will make to their health. Many people are not aware of the health benefits of omega 3 fatty acids and what they can do for them or prevent certain health related occurrences; more education needs to be promoted on omega 3. Food choices are often based on convenience, cost and whatever tastes good. Consumer may assume that products with omega 3’s may alter the taste of the product or be too expensive to buy. Dairy products have a poor reputation/image as...
tracking img