Finish the competitive review | Marketing homework help
our products：an insulated water bottle
some information ：Market Description/Product Review:
People who participate in outdoor recreational activities
Males and Females between the ages of 18-45 years
Use water bottles to store their beverages
Have an annual net income of $50,000 or more
Live in warm to hot climates
Use water bottles on a regular basis
We chose this market segment because people who participate in outdoor recreational activities need to stay hydrated. Especially in warmer climates, it is easy to get dehydrated quickly and it is more refreshing to cool down with a cold beverage. Additionally, we chose males and females between the ages of 18-45 years because this is when you are most active during your life, and it is the most abundant population in the United States.
We found a gap in the market for water bottles not being able to keep beverages cold for long periods of time. This gap is brought on by our target market not having access to ice or another beverage to chill their warming beverage down. Our competition has product lines with insulated reusable water bottles, however they only keep your beverage cold for about 24 hours; whereas, with Burrr Bottles Gel-Pack technology, we can keep your beverage colder for longer.
Our company, (INSERT COMPANY NAME), will also be producing a water bottle with technology to heat up your beverage. Like the Gel-Pack Technology, we will use Heat-Pack Technology to keep beverages hotter for longer periods of time. The water bottle will be priced at $24.99 and the Heat-Packs will cost $5.99 for a pack of five. We will be targeting individuals who need hot beverages, such as swimmers and people living in cold climates. This product fits in to our existing product line because we are incorporating new technology in to the same water bottle.
Competitive Review/Distribution Review