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Humidacure - Essay Example

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The product is reliable, comfortable, palatable, and effective to treat flu, cold, and cough. The aim of having a product with pleasant flavours is to enhance an added advantage over other competitors in the market. The product does not only focus on treatment but expands out to reach people who enjoy taking products with flavours such as ginger, lemon, or orange. The product is good both in consistency and quality, which is more likely to attract many consumers in the market. As many people struggle to identify the best medicine that heals flue, cold, and cough, this product aims to provide consumers with adequate information on how to take the medicine and the various ways they can do to prevent the illness. With this, consumers will be in a better position to comprehend about their illness and evaluate ways to prevent it in future. Still, there will be contacts displayed in the product, which consumers can use to communicate to the company in case of any complication, and this will create trust and confidence of consumers on the benefits of using the product. 2.0 Situational analysis At this point, it is important to understand the internal and external factors that will be affecting the business as this will lead to a better understanding of what will influence the product future. The product will be affected by the government that has a strong control over the product manufacturing activities. The company may spend some resources to ensure that the product align with the health standards of law. Secondly, economic crisis may make consumers to cut down their spending on medicines and instead prefer to make drinks that heal the cold. With many products in the market, most consumers may be forced to purchase other products that may be cheaper than Humidacure. It is pertinent to note that, a culture has a strong effect on people’s perception and preferences. Natural ingredients are among the crucial aspects of culture, which marketers will put into consideration. The product will contain various ingredients that help in relieving cold, flu, and cough such as ginger, lemon, and orange just to name a few. A comprehensive marketing strategy will be crucial to understand how to address the external environment of the product. Extensive training will be conducted to those manufacturing and distributing the product to keep good relations with consumers and maintain quality product that attract consumers all over regardless of various challenges that may emerge such economic crisis. Customer satisfaction will be considered as the most vital thing for the company’s progress. MARKET ANALYSIS 3.0 Market Demographics The product targets adults from urban middle class segment. The reason for this group is that adults are more likely to purchase medicine than adolescents or teenagers. In most cases, parents purchase medicines for their kids. Still, this target group is most preferable in that most adults are more concern with their health and children’s health. 3.1 Market Summary The product is intended to use the combination of promotion advertisements where the focus will be placed on attracting clients to purchase the product while converting the first users of the product to frequent and potential users. To accomplish these, the product will be marketed via technology tools such as internet that will create awareness in many people. Still, this will create a strong ...Show more
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Instructor Date Humidacure 1.0 Executive Summary Humidacure is a suitable medication for cough, cold, and flue. The new product contains many flavours such as orange, lemon, and ginger that make it to emerge the best in the market. The goal of this product is to harmonize patients’ needs by striving to make the product more affordable and accessible…
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