logo image

Marketing Strategy for Soymilk Essay

The marketing strategy for soymilk considers the pool of health conscious consumers as the target market. Through product specialization, particularizing soymilk would meet the preferences of sub-groups within this segment such as children and weight conscious individuals. The value proposition carries health value, affordable price and selection variety. The positioning of soymilk is a leader in the beverage sector by comprising its own category and symbolically positioned to make consumers prefer soymilk to competing products. Marketing Strategy for Soymilk

Introduction

There has been tremendous growth in the sales of soymilk over the past decade making this beverage a strong alternative to dairy milk. Previously, soymilk and other non-dairy beverages emerged to meet the demand of consumers with lactose intolerance. However, in the past five years, heightened health consciousness of the market propelled soymilk to become an alternative for the health conscious market segment because of the high protein and B-vitamin components of this beverage (Dhar & Foltz, 2004). There remains a wide room for market expansion for soymilk products.

One supporting factor is the technological developments in soy production (Dhar & Foltz, 2004) leading to reduction in production cost. Another factor is the creativity in soymilk products (Dhar & Foltz, 2004) ranging from flavored soymilk, drink mixes, and other product concepts that could attract other market segments. Developing the appropriate marketing strategy for soymilk would ensure successful expansion and sales increase.

Components of a marketing strategy

There are three major components of a marketing strategy. Read about Skittles target market

Need essay sample on "Marketing Strategy for Soymilk"? We will write a custom essay sample specifically for you for only $ 13.90/page

The first component is a thorough understanding of the market in terms of its size and potential for growth as well as learning about consumer needs. Knowledge of the market supports its segmentation according to socio-demographic and psychological factors and selecting which ones to target. The second component is developing value for the product based on unmet consumer needs as a means of differentiating the product from existing competitors. The third component is creating product visibility to the target market by positioning the product in the market. (Kotler & Keller, 2008)

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy