Introduction
People who work in slow-paced, office-set jobs often know when they are experiencing discomfort, tackling it with coffee breaks, stretches, and chats with coworkers. The premise of the “Hydration Test” relies on those who do not have the same leisure, orienting the product towards people who work-intensive jobs. Thus, implementing a market skimming pricing strategy may allow for a better level of integration into the target market.
Main body
From employers of construction workers to facilities with emergency room doctors, a broad customer base exists that is always looking for ways to better the working conditions of its staff. The “Hydration Test” is a unique product, with little competition and highly marketable qualities, which all allow for efficient market skimming (Armstrong et al, p. 277). If the brand can be advertised as essential to high-intensity jobs, then many organizations could become interested in it as an easy solution, aimed at increasing the quality of services provided. Furthermore, doing so will make the target’s perception of the product positive, and will interest other consumers, such as individual staff members, creating the possibility of skimming the market at different levels.
The elasticity of the target market should be considered carefully, as the “Hydration Test” is not an established good on the market, and organizations could mistrust it. This circumstance makes the demand for the product elastic, readily responsive to changes in price, with more people buying it at lower price points (Armstrong et al, p. 275). However, using this to the advantage of market skimming is possible, considering the unique nature of the “Hydration Test” (Armstrong et al. 278). Thus, the new brand can become integrated as crucial for high-intensity jobs, with the price gradually lowering over time.
Conclusion
Quickly identifying the levels of dehydration of staff, as well as clients, is a crucial aspect of life-saving tasks, allowing for the marketing of the “Hydration Test” to various labor-intensive jobs. The product’s uniqueness makes it stand out on the market, with no competitors, while its objective facilitates the work of people in demanding careers. Therefore, choosing the market skimming pricing strategy for the “Hydration Test” reflects the needs of its outlined target market, comprised of organizations, as well as its elastic nature at different price points.
Work Cited
Armstrong, Gary, et al. Principles of Marketing. 6th ed., Pearson, 2015.