Bling H20 Case Study
Bling H20 Case Study
The expansion of products into overseas markets is a commonly used method for businesses to increase revenue; however, the latest product within the bottled water industry, Bling H20, is making headlines as this product sells at the starting price of $45 US. If this product were to hit the shores of Australia, the potential target market would be those who come from a high socio-economic class along with a selected amount of businesses and also the entertainment industry.
The ideal target market for Bling H20 would be those who fall into the age bracket of 16 to 36 years of age, more specifically these consumers would have a medium to high level of disposable income as this target market would be purchasing this product due to the fact that the issue of money is not of a big concern, in saying that, this may not always be the case as people within this age bracket may earn far less money but may buy Bling H20 for the novelty of the product or even as a one of purchase which can be used for decorative purposes.
The issues of psychological issues regarding status, attitudes, values and lifestyle are all universal between both genders hence Bling H20 would not be gender bias. In order for Bling H20 to sell, this product would mainly be sold in areas where the population is dense such as capital cities and rather than rural areas and remote towns. Targeting these major cities would be effective due to the fact that people from urban areas are more socially aware as a result of marketing and word of mouth. As previously stated, this product would be a hit in the entertainment industry where adults who go out on special occasions may buy this product due to the fact that they have an excess in funds in which they can afford to purchase such an item. This positioning of this product has allowed for consumers to be conscious that this product has a reputation which has started from the stars of Hollywood and now global.
A survey was
The expansion of products into overseas markets is a commonly used method for businesses to increase revenue; however, the latest product within the bottled water industry, Bling H20, is making headlines as this product sells at the starting price of $45 US. If this product were to hit the shores of Australia, the potential target market would be those who come from a high socio-economic class along with a selected amount of businesses and also the entertainment industry.
The ideal target market for Bling H20 would be those who fall into the age bracket of 16 to 36 years of age, more specifically these consumers would have a medium to high level of disposable income as this target market would be purchasing this product due to the fact that the issue of money is not of a big concern, in saying that, this may not always be the case as people within this age bracket may earn far less money but may buy Bling H20 for the novelty of the product or even as a one of purchase which can be used for decorative purposes.
The issues of psychological issues regarding status, attitudes, values and lifestyle are all universal between both genders hence Bling H20 would not be gender bias. In order for Bling H20 to sell, this product would mainly be sold in areas where the population is dense such as capital cities and rather than rural areas and remote towns. Targeting these major cities would be effective due to the fact that people from urban areas are more socially aware as a result of marketing and word of mouth. As previously stated, this product would be a hit in the entertainment industry where adults who go out on special occasions may buy this product due to the fact that they have an excess in funds in which they can afford to purchase such an item. This positioning of this product has allowed for consumers to be conscious that this product has a reputation which has started from the stars of Hollywood and now global.
A survey was