Introduction
Developing an effective marketing plan for a product is the dream of every entrepreneur in the business industry today. Business people conduct market analysis for their existing and new products and services to determine their ability to win the target market and achieve a competitive advantage for the company. The following paper discusses the market analysis for Premier Softener, a product aimed at providing water treatment solutions for home and commercial use.
Energy Management
Kinetico Company developed the Premier Softener with the aim of enabling every consumer experience benefits of using quality-filtered drinking water. Consumers are used to boiling hard water to make it soft for home use. The process is costly because the consumer adds up to the cost of electricity or gas needed to boil water daily. Premier Softener offers a user-friendly and cost efficient method of softening hard water. Customers save cost by avoiding frequent maintenance and replacement of household products such as water heaters, showers, dishwashers, and bathroom equipment. Premier Softener will help cut the cost of buying detergents used during laundry by almost a half. Moreover, the product helps extend the working life of different water using appliances in the home by preventing corrosion because it ensures only soft water flows through these appliances. On the other hand, the consumer gets to enjoy complete installation and timely repairs for the product when it breaks down improving the long-term working of the product.
Home Assistance
Premier Softener helps improve the home appearance by keeping equipment clean and attractive. High-quality water improves home status by making appliances more efficient and ensuring people stay healthy. Good water quality plays a critical role in promoting healthy living. Premier Softener product promote positive growth by reducing the number of diseases by ensuring people use clean water at all times in homes. Many nations have called for residents to promote a greener environment. Premier Softener helps develop a greener home by saving on the energy bills. People no longer need to use fossil fuels or any other non-environmental friendly fuel product to soften hard water.
Target Market
Caravans
People utilizing caravans often experience challenges accessing clean and quality water to drink, bath, and clean their products. Premier Softener is the best product for these customers because it offers high-quality softened water in a wide range of packages to fit needs of different customers. Moreover, the company can easily install the water softening equipment on the vehicle to allow customers have access to clean and purified water at all times even when the packaged water runs out.
Marine boats
Marine boats need Premier Softener products more than any other target market because they travel in oceans filled with salty and dirty water. The water is unsuitable for human use and consumption, hence; the need to look for soft water from Kinetico Company. Marine Boats will need the Premier Softener to purify ocean water and make it safe for human consumption. Having the product on the marine boat reduces the cost of buying bottled water for every client.
Commercial buildings and new homes
Kinetico Company offers commercial water treatment solutions. Commercial building will need the product because they cannot obtain a fresh water source to feed the entire population. Premier Softener can manage to soften water from different sources such as boreholes, water companies, and wells and make it suitable for use. Moreover, new homes have the opportunity of acquiring a water treatment system capable of supplying all residents with clean water at all times.
Convincing customers in the target market to purchase a new product is a big challenge especially where customers have alternatives. Selecting Premier softener products comes with many advantages because the customer gets to enjoy complete installation including plumbing and wiring. Additionally, commercial buildings and developers can enjoy the product at a lower maintenance cost, increased equipment life, high performing, and fewer equipment failures (Premier Water Softener 2016).
Cost analysis for Premier Softener
The price of water softeners is analyzed based on the capability and qualities of the system. A basic water softening unit in the United Kingdom costs between $500 and $1,000 depending on the design qualities and the brand name (WaterFilterShop.co.uk 2014). Information retrieved from the internet about the cost of Kinetico Company water softening products reveal a cost of between $500 and $1500 (Anonymous 2016). The high price charged on Premier Water products seems to create issues with customers but their advantageous features overcome the price range.
Conclusion
The most preferred target market for Premier Softener would be commercial buildings and new homes because they have bigger populations requiring high volumes of soft water. The market analysis of the product reveals that it has a high potential of high-cost saving and increasing home efficiency.
References List
Anonymous. (2016). Kinetico Water Softeners Reviewed.
http://www.thewatersoftener.com/kinetico-water-softeners-reviewed/ [Accessed: Jan. 09, 2017].
Premier Water Softener. (2016). About Premier Water Softeners. Premier Water Softeners Ltd.
http://www.wiltshireandswindonwatersofteners.co.uk/ [Accessed: Jan. 09, 2017].
Premier Water Softener. (2016). Commercial Water Treatment & Softeners. Premier Water
Softeners Ltd. http://www.wiltshireandswindonwatersofteners.co.uk/commercial/commercial-water-treatment-softners.html [Accessed: Jan. 09, 2017].
WaterFilterShop.co.uk. (2014, Nov. 20). How much does a water softener cost? Webshop
Central Ltd. https://www.waterfiltershop.co.uk/blog/how-much-does-a-water-softener-cost/ [Accessed: Jan 09, 2017].
