The Target Market for my product is really just anyone who likes to have fun, but with a new twist. Social Drinkers, who usually like to sip on a nice refreshing beverage at a bar or club. Maybe even people who are throwing a big party and want to serve something a little exotic. There’s really no limit, except for minors of course. There in lies the problem in the industry, trying to promote your product, without promoting the consumption of it.
So what kind of product do I have? I have a consumer product. “We need to know about product classifications because business and consumer product classifications because business and consumer products are marketed differently. They are marketed to different target markets and tend to use different distribution, promotion, and pricing strategies. (MKTG, Lamb, Hair, McDaniel pg 131, chp 9).
The type of consumer product is hard to classifiy because it falls under a lot of different categories. But the category that Victoria Falls Vodka falls into is the Specialty Product category. You would think that maybe it would be considered an unsought product, but the way that it is going to be promoted, advertised, andwhat stores and public places would carry the item, I consider it to be a Specialty item. Mostly the big variety liquor stores or specialty stores that have an extensive selection in the liquor department, will carry it. Also it will be available in clubs. When it comes to the financial resources, there is a lot to consider. Besides the funds needed for manufacturing and shipping, because the prodct is made over seas, then shipped here, I have to be concerned about promotion funds. I have to rely mostly on free publicity and maybe buying a page or two fo the city papers to get my product out there.
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