Purple Cow Dairy Marketing Essay

1742 words - 7 pages

Missing Figures. Marketing I Assignment: Purple cow dairy Purple cow dairy needs to increase its market share within the dairy product market itself. It needs to create a new marketing campaign to advertise its current products and display its new line of omega 3 dairy products. Purple cow dairy needs to reach out to its current consumer base and new consumers as well and demonstrate why its product line is better then the competition, display its benefits to healthy conscious consumers. Purple cow dairy must be cautious when putting a price on the new product line. While it will be more expensive then its current product line, they must be careful to ...view middle of the document...

This allows for Purple cow to sell a product cheaper than the competition while still maintaining a fair profit. Purple cow is abit of a niche market, in the sense that it tries to sell products with unique traits such as organic milk, as opposed to the competition which is selling traditional based dairy products which can draw in consumers looking for something different. Purple cow has a specialized workforce keen on experimenting with new formulations to create products which meet the needs of the consumer and are heavily focussed on the quality of the product. There is a small market share of products (only 4% of people buy milk based products due to omega 3 benefits) which contain omega 3’s, allowing for Purple cow to be a market leader if successful in selling its new product line. Weaknesses: There is a small market share of products (only 4% of people buy milk based products due to omega 3 benefits) which contain omega 3’s. Therefore the market is small and not very profitable at this moment and any incoming company could fail at selling the product, including Purple cow dairy. Health based information on food products is often confusing or contradictory to the consumer, thus making it hard for the consumer to know which product is right for them and what the benefits really are and how much of a difference they will make to their health. Many people are not aware of the health benefits of omega 3 fatty acids and what they can do for them or prevent certain health related occurrences; more education needs to be promoted on omega 3. Food choices are often based on convenience, cost and whatever tastes good. Consumer may assume that products with omega 3’s may alter the taste of the product or be too expensive to buy. Dairy products have a poor reputation/image as being products which contain omega 3’s, as opposed to bread or fish, most consumers look to those products for omega 3 health benefits. Purple cow dairy has a small, limited marketing campaign which does not promote its products enough or its health benefits to consumers. Because it is a small company and not as widely known, consumers are often drawn away to other related products by rival bigger companies products which have been in the business longer and have market experience, promote and advertise more and are widely known to consumers are already and trusted. The Environment- External Issues: The domestic market is the industry's major market for dairy products and will continue to be in the future. Unfortunately, the Canadian market for traditional retail dairy products appears to be maturing. With the exception of a few bright spots, overall future retail growth in sales based on current performance could be slow. Continued investment in product innovation, packaging, co-branding and new uses for dairy products is...

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