Green Ox is a new Palmer Jackson product that is intended to be marketed as sport beverage with health appeal. It is a new development of PJ laboratories which perfected a technique of dissolving common antioxidants into high-glucose beverages. Their new product has unique specific properties among which most significant include: •contains natural antioxidants like Vit. E and Selenium with its all benefits •hydrates and provides energy replaces electrolytes •last but not least – identified links between use of vitamins and minerals and reduction of certain types of cancer Since Green Ox enters in the competitive market of sport beverages and health supplements, these areas should be considered as possible target markets for new product.
The chart below presents main properties of Green Ox in a form of diagram. Based on the research by Marketing Studies Inc. arried out on order of Palmer Jackson main competition areas to Green Ox have been identified including (1) sports drinks, (2) vegetable juices, and (3) antioxidant supplements. At the same time the research aimed to distinguish consumer types characteristics that helped to identify market segments for new product. Market segmentation The following segments may be described … Group A – Fitness Characteristics:young and mature people, concerned about health and stamina, athletically active, regularly practicing sport activities, mostly as amateurs.
Members of this group are keen on natural healthy style of living, fond of natural food diet, searching for their grocery shopping among shops with health food, and club stores. This group is usually represented by people with higher income This group comprise also fast growing subgroup of women athletically active (25% of women population and still growing). Members of this group are guided by knowledge and principles. They would seek for information in decision-making process, to analyze and understand how what works.
Won’t go for trendy impulsive purchase until they are convinced by arguments. Expectations:look for functionality and value in the products they buy, have very practical approach, they would buy when they are convinced about quality, they look for quality, but represent approach of good value for money. They would look for concrete clear quality behind Green Ox purchase like restore hydration, contain electrolytes and natural antioxidants, or is easy to carry to the gym.