Entrepreneurial Marketing Essay
Section I: Market Analysis
The fresh juice market has been experiencing increased significance over the past few years. The recent scientific research efforts linking diets with the occurrence of different non-communicable diseases has led to an increase in health consciousness. Fresh juice bars have increased in popularity across the world as people become more focused on healthy diets. The business falls under the foods and beverages industry. The industry deals with the processing of foods and beverages and availing them to the consumers. Juices form a part of the beverage section of the industry. Juices can be categorized according to composition and processing criteria. For instance, juices can be made from concentrate or fresh produce. Others are made from nectar or vegetables. Fresh fruit drinks are made from freshly harvested crops and have a limited shelf life.
The juice section of the foods and beverages industry has been dominated predominantly by those products from concentrates. However, in recent years, there have been shifts in the industry with the emphasis on healthy lifestyles. As such, recent trends include increased profitability for the fresh fruit and vegetable juice companies with a slight decline in profitability for those selling juice manufactured from concentrates. However, competition remains high for the fresh juice bars from established manufacturers of concentrate juices and carbonated juices. Companies like Coca-Cola and Pepsi remain a threat to the profitability of fresh juice bars. Additional competition for the business will arise from established businesses in the fresh juice market. Attracting consumers from established businesses dealing with fresh juices may be a hard task that will require effective strategies.
Section II: Marketing Strategy
The chosen business model, a fresh juice bar, will rely on the uniqueness injected by the positioning and differentiation strategy to achieve its growth and profitability objectives. The market is composed of clients with different interests. The positioning of the business will be carried out using the service scope. The service scope entails the items offered to the consumers, the means used to deliver the juices and snacks, and the nature of interactions between the clients and the employees. Offering of unique products through unique means will serve the purpose of facilitating originality. Employees will be trained on unique means of handling the clients to increase satisfaction and retention of first-time clients. Also, consumers will be presented with a unique experience in the juice bars including entertainment.
High levels of competition require the creation of the strategy that attracts and maintains the clients. First, the uniqueness of the business will arise from the menu development. The customers will be given the chance to select a number of ingredients from which to choose from. The business will source different fresh fruits and vegetables from the consumers. The clients will then be provided with the option to choose from the menu the ingredients to be included in their juices. Additionally, clients will be provided with a platform to make orders prior to the physical visits to make sure that they do not wait for long. Additionally, the consumers will be presented with a seasonal menu that reflects fresh produce from farms at a given time to maintain the primary goal of supplying only the fresh products.
References: Entrepreneurial Marketing
Bigliardi, B., & Galati, F. (2013). Innovation trends in the food industry: the case of functional foods. Trends in Food Science & Technology, 31(2), 118-129.