Define your company’s target market Mercy Mocktails is located in North Dallas. Our location is ten minutes from Downtown Dallas off of I-45, on a busy street with Dart rail line that is convenience for people who want to ride the train. We are located down the street from North Park Mall where the weather is always sunny to have a mocktail drink.
Mercy target market customers:
• 75% women, 15% men
• Age range from 21-60
• Lower average family income $19,000 and above
• Need to wine down on the weekend from work by shopping, spending time with the family, and do girl talk over a Mercy Mocktail drink
• Single and ready to mingle, married and need a date night with the spouse, group of people meeting up to enjoy an outdoor event
• Open to a diverse group of people
• Live near the upcoming urban area
Assess your company’s market competition
A. Use the factors listed in the course text graphic to assess your company’s market competition. …show more content…
NAB industry are challenged with being on top of their competitors’. We compete for customers, self-space inside of the grocery store, distributors, and being first to come out with a new flavor.
B. Defend your strategy to successfully compete against market leaders in your segment. At this time, our competition is not competing against Coke, Red Bull, Dr. Pepper, or Lipton Tea. Our competition is new NAB companies that has been in business for five years or less. Seedlip comes to my mine, they are a new non-alcohol brand in the portfolio. Distill Venture company has invested into Seedlip because they feel non-alcohol drinks will be the next big business opportunity.
C. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the