Bling H20 Case Study
The expansion of products into overseas markets is a commonly used method for businesses to increase revenue; however, the latest product within the bottled water industry, Bling H20, is making headlines as this product sells at the starting price of $45 US. If this product were to hit the shores of Australia, the potential target market would be those who come from a high socio-economic class along with a selected amount of businesses and also the entertainment industry.
The ideal target market for Bling H20 would be those who fall into the age bracket of 16 to 36 years of age, more specifically these consumers would have a medium to high level of disposable income as this target market would be purchasing this…show more content…
Out of 612 people who were surveyed, 24% claimed that bottled water is less likely to contain harmful contaminants, 16% believe it tastes better then tap water, 8% alleged that there is a lesser chance of containing harmful chemicals, 29% simply bought bottled water for convenience and the last 22% just bought bottled water because of the useful refillable bottle.
To comment on the water bottled water industry “www.smh.com.au” believe that this industry has grown by 20% within a year, whereas the soft drink sector only grew by a poor 5% in comparison to bottled water. The leading brands in this growing industry within Australia are Mount Franklin and Pump who are both owned by Coca Cola Amatil making up 17% of the local market.
“www.bottledwater.org.au” have commented on who the main consumers in Australia where they claimed that through market research they have found that bottled water is purchased people of a large variety of age groups although the majority tended to be young singles and couples between the ages of 14 and 35 years of ages but particularly females. In general, those who purchase bottled water have been described as being more health conscious and socially aware which is correct as people are now concerned with Australia’s obesity rate, where one in two adults are overweight.
An ethical concern associated with this Bling H20 is that this product promotes and condones materialism as the creator, Kevin G Boyd, stated “you could tell a