Company Introduction, Market Segmentation, and Product Positioning
Introduction
The use of herbal products as a supplement to health and nutrition has been practiced for many decades now. In order to achieve this vision of a healthy life, the Organica-herbal Company offers its products on herbal supplements to a growing clientele. Healthy living and the maintenance of high standards for nutrition is the goal of Organica-herbal. In this company, we dream of market dominance and international expansion by becoming a leading herbal medicine manufacturer and provider. Everyone is entitled to a healthy way of life no matter what their age or economic status. Hence, this company seeks to make its services available and affordable to everyone.
- Discuss the type of product the company will offer and identify its primary characteristics.
Unlike any other ordinary herbal supplement group, Organica-herbal derives its inspiration for success through the goal of serving its customers. Despite the tough competition from pharmaceutical products and other herbal supplement groups, Organica-herbal remains strong and victorious. The reason for this success lies in the sincere intention of serving its consumers and a clear vision of health for all.
In this modern time, the market for health products and other services geared towards attaining wellness seems like a large and saturated market already. However, Ogranica-herbal is confident that its unique thrust for wellness and vision for a healthy life through its products is a powerful tool that will help it gain market dominance. This company only uses the best, most potent, freshest and most natural ingredients to create the products. When quality herbs made with the best ingredients under the best conditions are used, the end result will be effective products that will help people gain a healthier life . Through the use of these products, society will be inspired to go back to traditional herbal practices and promote self-healing in the natural way.
The Organica-herbal Company strives to be a leader in herbal medicine providers not only in one geographic area but in the international scene. Even though it aims to establish regional prominence, its goals go beyond the regional approach. This company aims to develop a loyal and satisfied customer base from different geographic areas as well. Through this increased scope of operations, the company will be able to provide more consumers with herbal medicine products that will help in the attainment of health in the physical, mental and psychological aspects . Through these actions, society will find an affordable yet effective way of rejuvenating their daily life.
In order to reach its target goals and mission, strategic market decisions will have to be done. The Organica-herbal’s company decisions are influenced by prevalent market conditions such as competition, economic conditions and growth, and interactions with its affiliates. Considerably, Organica-herbal’s products are influenced by pricing, promotion, placement and product of the marketing environment the merchandises are sold to final consumers .
- Discuss the service component of the product and how it will be used to enhance the product.
Service Components
Organico-herbal nutritional supplements may have the best nutritional products but it will not be enough to attain success in the market without creating an efficient plan for its service components.
This company aims to attain a high level of service delivery by ensuring that all its workers will be hired through a fair employment process. Applicants who are the best qualified for the work will be hired. During the duration of their work, constant updating of knowledge will be given through seminars and trainings that are directly related to their work. These steps would ensure that they meet the high standards of customer service that Organic-herbal envisions.
- Explain how the product could be expanded into a product line, and the depth and breadth of the line.
Organica-herbal seeks to establish a large, global clientele. In order to achieve this, the company strives to widen its products to various consumers from different regions. Apart from seeking a larger market geographically, key growth markets are now shifting from human beings to expand and include pets as well. The goal of a healthy life is not only a right of humans but even animals and pets too.
In addition, the Organica-herbal desires to become a top notch and excellent market giant on herbal product providers worldwide. Its management seeks to achieve substantial existence in the global market to gain a better revenue contribution from their organic products and other product lines. The Organica-herbal wants to encourage the young children and adults to be aware of their health by taking on organic remedies including the foods they eat to what they use to improve longevity.
The Organica-herbal seeks to enjoy an elevated level of brand responsiveness and recognition even for its new products. Due to the unique position of Organica-herbal as a new brand, market factors like competition will affect it. The competition against market giants on herbal and organic supplements is a tough one. Hence, a marketing plan is devised to ensure that Organica-herbal will survive the competition.
With the increased use of intelligent promotional strategies, this company seeks to achieve its goals. This is done through utilization of internet advertising in YouTube, Yahoo, Google, and other similar web pages. This technique will enhance brand recognition for this company and reach target customers in the most cost efficient way. Access to technology has definitely changed the face of advertising of all sorts. Apart from a strong internet campaign, other offline methods of advertising in the print media, television and radio are utilized.
- Explain how the core business may change in response to industry or market changes.
Despite the high goals in company vision and mission, Organica-herbal aims to make its product accessible to the customers as much as possible, despite the fast-changing industry and market standards by making its prices affordable and reasonable. This company strives to make its product prices match the market segment to which it caters to. Even though you are a high or low level income earner, this company has the perfect product prices that will fit your budget. As a result, they tend to provide advanced herbal product solutions, which are renowned to be easily transformed into the high-performance product to suit various user’s health needs .
Pricing differentiation will be carried out depending on the target market in which the products are sold. The price must be reasonable in order to compete with other strong and well known competitors in this field. Moreover, the company seeks to effectively compete with other competitors by producing and distributing quality herbal products that will definitely give you your money’s worth.
The thrust of Organica-herbal in aiming for global market dominance will never be possible without a high quality product that is capable of building that level of success. Thus, this company maintains products that are not only of excellent quality but have a better shelf life and with a unique packaging and design that suits the customer’s specifications. The aim is to produce organic products that have all natural components that are crucial to health and nutrition. These products will make them feel confident and healthy both inside and outside.
More often than not, the placement and distribution of the company’s herbal products is the determining factor for market success or failure. A company may have high quality products but without a careful consideration on its place of distribution and promotion, they will never achieve their full potentials. It is through the establishment of effective marketing channels that will make the product within reach to your target customers . Nevertheless, the founding of clear distribution channels with more efficient and effective order processing time limit ensures that the progressively growing business can achieve high level of customer satisfaction. Organica-herbal achieves this through creating retail shops at various locations for this purpose.
- Support your marketing plan with at least two reference sources that discuss the nature of the product
Just like anything in life, it is important to recognize the strengths and weaknesses in order to draft a more realistic and effective plan of action. In the Organica-herbal, their main strength lies in good hiring decisions. The Organica-herbal consistently hires employees that are hardworking and knowledgeable about the products that they sell. Hiring these employees who understand how the herbal products work and have the capacity to give advice for the customers is a huge asset in a company .
Another strength that the company has is its adherence to high quality products that has raw materials straight from the farmers themselves. This assures quality products that are safe and effective. In addition, Organica-herbal has incorporated not only herbs as its main product, but has a café, food section, body care, and pet supplies in its stores to complete daily necessities for all consumers.
The weakness of Organica-herbal however is the lack of sufficient tools to compete with big name advertisers that work for the competitors.
In conclusion, the Organica-herbal is fast growing as a company that has achieved marketable opportunities due to its well-grounded marketing tactics and quality products. Effective use of pricing, placement, promotion and product strategy considerations will help achieve market success.
References
Dion, F. (2008). Marketing in a whole new level. Journal of International Business Management.
Kotler, P. (2000). Marketing Management: 7th International Edition. New Jersey: Prentice Hall.
Wilson, A. (2003). Marketing Research "An Integrated Approach. London: Prentice Hall.
Wong, T. (2000). Marketing Research, 3rd Edition. Singapore.
