Vitamin Water Essay

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1. Product Life Cycle of Vitamin water We believed that vitamin water is in its Maturity stage of the Product Life Cycle. The product was launched in the U.S around the year of 2000. Most people are already aware or have at least a vague idea of what the product is and how to drink it, however because of the lack of traditional promotion on the TV, radio etc. vitamin water has been growing slowly. According to Mintel, even though vitamin water has gained 5% of the market share in the bottle water market vitamin water still needs to work on getting new consumers, and have those trier consumers become loyal. It is important for vitamin water to not only focuses on the first consumer experience, but also in reinforcing what the product and brand is in order to increase their sales. 2. Competition a. Primary Competition The beverage industry is constantly competing with many of the new drinks that have been introduced into the market. According to Mintel, competition has been affected by price, interchangeable drink options, and by the companies’ acquisition of small and new beverage companies. The market for vitamin-enhanced water compete with new product innovation driven by health and wellness, and most products now offer almost the same benefits as the vitamin water products such as fruity flavored, antioxidants, minerals etc. For this reason, it is believed that the primary competition for Vitamin water is Gatorade, Propel, Powerade, and Snapple. These products compete directly in the vitamin enhanced water market because they provide to the consumer similar benefits such as high nutritional content, less calories, variety of fruity flavors, immunity boosters and vitamins. It is important to mention that results from a noncarbonated beverage research showed that consumers between the ages of 18-34 preferred to consume vitamin-enhanced water over fruit juice and

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