Market research Assignment Paper Example | Topics and Well Written Essays - 750 words

commercialize Assignment - Research Paper ExampleEnergy drinks are products that became popular in the year 2000 and their popularity unploughed on increasing since then. These products are re totallyy suited for those individuals who have to work at night hrs or have a hectic nature of work on their shoulder. The launch of a 12 bit capacity drink would be considered a mart leader product in a marketplace where the current offering is only a 5 or a 6 time of day meter reading of the expertness drink. As it is considered to be newer version of the product in the existing market, it would be really estimable if a market research is conducted to analyze whether the product will succeed in the market or not. As the company in question lacks the budget to conduct a survey or the counseling group research analysis, the only option left would be to use public information on the readiness drink market that would admirer in identifying the send markets for such an energy drink. On the prat of the information and the current buying behaviors of individuals, it seems obvious that the target market for a 12 hour energy drink would be the age group of 16 to 30 years old. The recent trend of ad for the energy drinks currently focus on the young generation of such age group. This age group is can further be divided into athletes, gamers, party lovers and workaholics. Now it would be really difficult to target all these different target groups with a uniform/similar product but since the product brings an character reference to the time period i.e. 12 hour version, it may be possible that it can serve all the different target groups with a uniform product i.e. similar product, packaging, etc. By identifying the target market, a segment of the market would be identified. This market segmentation would help in reduced marketing be for the company. For a successful market segmentation and target market, proper consumer data would be analyzed with wish to the e nergy drinks. Using the public information, both quantitative and qualitative would be analyzed. Quantitative data would let in such as age group, the age group of 16 to 30 years old would be the perfect market as far as the age group is concerned for the 12 hour Power O energy drink. The income factor would not be much of a concern as far as the target market is concerned, the prices of such energy drinks are cheap and these can be easily bought by the target age groups. As far as the qualitative data is concerned, there would be no effect based upon the education of that particular target market. The occupation of the target market may come into question with regards to the occupation. People working at night hours are deemed to be warm of energy drinks, hence a 12 hour Power O energy drinks would really help them. The only question that would really matter would be the fact that such 12 hour energy drink would have ingredients that might have veto effects on the users. Such 12 hour energy drink would have heavy amount of caffeine that can be considered to have negative and harmful effects on the users of such energy drinks. Hence at the target age undulate of 16-30, it could be excessively harmful and it can create legal restrictions on the sale of such energy drinks (as is the case in Norway and Iceland where under 16 sales is prohibited) because of the increased amount of caffeine