MARKET ANALYSIS OF BOTTLED WATER THAT CONTAINS VITAMINS AND RHODIOLA (Essay Sample)

Introduction The RhoVita Fine Herbal Mineral Water containing Vitamins and Rhodiola will be produced and marketed for very special people who have literally rarefied palates. This herbal mineral water will help to enhance one's mood and reduce stress and fatigue. It will also be non-alcoholic and would not indulge in any formation of habit or addiction on part of the user. For all those people who are dying to find alternatives to alcoholic beverages, the addition of this fine herbal mineral waters would be extremely welcome. The product has been created with extreme purity and integrity and is also compatible with haute cuisine. At the same time, it is undoubtedly valuable for everyday use as well. The product is a great source of satisfaction if it amply stocked in well-stocked bars or serious pantries. RhoVita is a herbal mineral water that produces a well-balanced blend of vitality and ease and has got a rosy taste. It is a 32 Fl. oz. or 960 ml. bottle of herbal mineral water containing Rhodiola extract and Vitamins. One serving size is just 2 to 4 Fl. oz. The price of this bottle of herbal mineral water will be USD 25 Benefits of the product and Market size The product will be effective against both physical and mental fatigue and provide energy as well. It will not be as effective as tranquilizers prescribed by doctors; however, it will not produce the unnecessary side-effects that many more tranquil drugs do. It must be noted that it is not a medicine and can be used by ordinary people like students, teachers, people who work hard and are inclined to be put under stress. It is especially good for people working in a stressful office environment. It keeps the nerves calm with a minimum of side effects. A similar water from Watersboten was examined in a 12-week study which had compared robiola’s antidepressant effect to other antidepressants like Zoloft and sertraline. The result was that Rhodiola was effectively reducing depression symptoms however, it was less effective than sertraline. the positive aspect was its lesser side-effects CITATION Gav18 \l 1033 (Gavin Van De Walle, 2018). This clearly shows that in terms of long-term and sustained usage and effectiveness against depression arising out of fatigue and stress, Rhodiola is indeed the preferred choice. The potential market size for such a product in the United States is immense. All people working in offices and all students who are stressed with studies can take it. However, the limiting factor is the price. A USD 25 bottle would not last more than 4 to 8 servings. This cost might be a bit too much for all types of students although all office workers can afford it easily provided they keep the servings to one per day. The Market of high-profile hotels is quite prolific in USA. The following figure gives the number of 5-star hotels in major cities in the US. All of these are potential customers and their guests are the target groups. Figure SEQ Figure \* ARABIC 1 Number of 5-star Hotels in major cities all over the world and specifically in USA Source: CITATION Nia18 \l 1033 (McCarthy, 2018). Competition The competition could be direct or indirect. The direct competition would come from other Rhodiola containing Herbal mineral water bottlers like SD Watersboten and indirect competition would be with all sellers of Rhodiola Extracts in any form and from vitamin containing water bottles like Vitamin water from Coca-Cola company. However, such vitamin containing waters do not contain Rhodiola so they would not be real competitors. Indirect Competition would include sellers like Amazon who sell Rhodiola extracts from various producers. LifeExtension is one such brand that sells Rhodiola extract in capsule form. Naturalin is another company doing the same. Solgar Rhodiola Root Extract is another competitor. Most of the Competition would be from the capsule sellers as RhoVita has added it to mineral water to produce a fine herbal mineral water. This will be available on ‘ready to serve’ basis in the most natural way i.e. as mineral water. More on Competition The competition is, however, quite different. Most of these companies marketing Rhodiola in capsule form are selling it as a supplement online. Amazon sells 180 capsule bottles for USD 30 CITATION Ama181 \l 1033 (Amazon, 2018). Solgar sells 60 capsules for USD 25. A Chinese producer Xian Bio-Chem company Ltd. CITATION Xia18 \l 1033 (Xian, 2018) also sells it online. Naturalin does the same as it sells online CITATION Nat181 \l 1033 (Naturalin, 2018). However, all of these are selling these capsules as supplements. They are not in any way marketing it as an ‘haute cuisine’ product. The toughest of all competition would come from Watersboten. The great advantage and strategically different unique selling proposition that RhoVita will have on the pattern of Watersboten is that it has placed its Rhodiola in a fine herbal mineral water and it will be positioning itself in such a way that many water bars, as well as other bars at all the tourist destinations in the world, all the spas, and all good 5-star hotels, would want to keep these water bottles to serve their distinguished guests and customers. Promotion of Similar Products Similar products i.e. Rhodiola extracts in capsule form are being promoted online and are being sold online as well. However, none of these are being promoted to water bars, other bars, restaurants, spas, etc. as a fatigue reducing and calming fine herbal mineral Water. Only Watersboten is being marketed to intermediaries as well as directly to the public through its e-shop. RhoVita would be marketed via a website store and also on the pattern of Watersboten to high-profile intermediaries. This places the RhoVita in a very unique position with a unique selling proposition of targeting both the ‘haute cuisine’ and at the same time selling its herbal mineral water through its shop on its website. All the other sellers except Watersboten are exclusively competing with each other and also with Amazon online. As one knows, it is hard to compete with Amazon when it comes to worldwide online sales. RhoVita does not have to worry about these competitors so much as none of them are targeting the commercial bars, restaurants, holiday destinations, etc. market for premier positional marketing. It is also selling online and is not missing out on the online purchase option. The online option is also extremely important for the company as it allows it to sells its product directly to the consumer without going through an intermediary. This sale can be very profitable if it can assume bulk proportions. The real competitor, therefore, would be Watersbotten. Target groups The competitors are targeting online customers who buy Rhodiola for personal use as capsules in form of supplement. The target group includes all people who feel they are stressed either physically or mentally in their lives. This group includes literally all office and industrial workers as well as students under the stress of s...