BUS599 Strayer University Non Alcoholic Beverages Target Market Paper

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BUS599

Strayer University

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  1. Describe the target market for your NAB business including a description of your target market's key demographic elements. You should also mention the geographic, lifestyle, psychographic, purchasing pattern, and buying sensitivities of your proposed target market.

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Running head: NON-ALCOHOLIC BEVERAGES BUSINESS OPPORTUNITIES Non-Alcoholic Beverages Business Opportunities Student’s Name: Institutional Affiliation: 1 NON-ALCOHOLIC BEVERAGES BUSINESS OPPORTUNITIES Non-Alcoholic Beverages Business Opportunities Non-alcoholic drinks business includes hot and soft beverages. Usually, the soft drinks comprise carbonated and non-carbonated water, flavors, and sweeteners, while the hot drinks broadly include tea and coffee. Generally, soft beverages dominate the global market. Although many countries have embraced the non-alcoholic beverages businesses, there are still some opportunities present. The first opportunity is diversification. Correspondingly diversification occurs when there are new products in the market. Although various hurdlers affect diversification, it influences a significant growth in the long run. Diversification opportunity in food and health will improve the offerings of non-alcoholic beverages to consumers. Diversification will introduce options and variation of commodities that capture whole the market leading to more earnings. While diversification results in a variety of products, developing countries indicates another significant opportunity. Although there is the presence of many alcoholic beverages in developed countries, there is a slow growth towards establishing health drinks. Ensuring the drinks contain the right nutrients will increase business growth. Correspondingly, developing countries are still new to the delight of soft and carbonated drinks. Countries such as India in summer season requires more cold beverages. Therefore, the high consumption of these soft drinks is an excellent opportunity to capitalize on the non-alcoholic beverage business. Lastly, marketing lesser selling commodities is a vivid opportunity. Many beverages business focus on high products. Water, for example, is a product that this beverage business 2 NON-ALCOHOLIC BEVERAGES BUSINESS OPPORTUNITIES aims to focus into as well as companies forget it. The non-alcoholic beverage business will market such products to raise more revenue to excel in this strategy. In retrospect, non-alcoholic beverage business present crucial opportunities that if well pursued, they will contribute to significant growth of the business. Many people prefer nonalcoholic drinks that are contributing to the high demand in the market. Equally, there is a massive surge in need for soft drinks in the sports and energy drink segment. All these opportunities show non-alcoholic beverage business is the best industry to invest. 3 Running head: NON-ALCOHOLIC BEVERAGES BUSINESS OPPORTUNITIES ageNon-Alcoholic Beverages Business Opportunities Farrakhan Saunders Andrea Banto BUS 599 7/13/2019 1 NON-ALCOHOLIC BEVERAGES BUSINESS OPPORTUNITIES Non-Alcoholic Beverages Business Opportunities Non-alcoholic drinks business includes hot and soft beverages. Usually, the soft drinks comprise carbonated and non-carbonated water, flavors, and sweeteners, while the hot drinks broadly include tea and coffee. Generally, soft beverages dominate the global market. Although many countries have embraced the non-alcoholic beverages businesses, there are still some opportunities present. The first opportunity is diversification. Correspondingly diversification occurs when there are new products in the market. Although various hurdlers affect diversification, it influences a significant growth in the long run. Diversification opportunity in food and health will improve the offerings of non-alcoholic beverages to consumers. Diversification will introduce options and variation of commodities that capture whole the market leading to more earnings. While diversification results in a variety of products, developing countries indicates another significant opportunity. Although there is the presence of many alcoholic beverages in developed countries, there is a slow growth towards establishing health drinks. Ensuring the drinks contain the right nutrients will increase business growth. Correspondingly, developing countries are still new to the delight of soft and carbonated drinks. Countries such as India in summer season requires more cold beverages. Therefore, the high consumption of these soft drinks is an excellent opportunity to capitalize on the non-alcoholic beverage business. 2 NON-ALCOHOLIC BEVERAGES BUSINESS OPPORTUNITIES Lastly, marketing lesser selling commodities is a vivid opportunity. Many beverages business focus on high products. Water, for example, is a product that this beverage business aims to focus into as well as companies forget it. The non-alcoholic beverage business will market such products to raise more revenue to excel in this strategy. In retrospect, non-alcoholic beverage business present crucial opportunities that if well pursued, they will contribute to significant growth of the business. Many people prefer nonalcoholic drinks that are contributing to the high demand in the market. Equally, there is a massive surge in need for soft drinks in the sports and energy drink segment. All these opportunities show non-alcoholic bever business is the best industry to invest. 3
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Attached.

Running Head: TARGET MARKET FOR A NAB BUSINESS

Target Market for A NAB Business
Name
Instructor
Institutional Affiliation
Date

1

TARGET MARKET FOR A NAB BUSINESS

2

Non-alcoholic beverage business target market
Target market entails a group of consumers who has the highest possibility to purchase a
particular product or service. The target market helps the business to concentrate on the core
aspects, which attracts the target buyer. Since non-alcoholic beverage business involves both hot
and soft beverages, the ta...


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