Target Market
Based on the feedback received in the Week 3 discussion thread, I would single out the following primary group of buyers of Kernel Keto products. Thus, for example, the firm’s target audience is lovers of a healthful lifestyle and a low-calorie diet. These people consume “light,” tasty, rich, and at the same time, free from high amounts of carbohydrates food. Such shoppers care more about their physical, cognitive state, and well-being, paying attention to the diet and nutrition consumed. In addition, they are more loyal to the so-called healthy snacks in the form of bars. In brief, the key customers are athletes, vegetarians, meat-eaters, dieters, and overweight people.
Other Data
Furthermore, regarding demographic, psychographic, geographical data, as well as buyers’ lifestyles, models, and features of purchases, the following picture of the situation should be highlighted. According to current data, the coronavirus pandemic has broadly stimulated the sales of healthy bars, which, today, are popular not only among athletes but also among a wider audience (Goldschmidt, 2020). Hence, relying on this information and selected data from previous studies, the central target audience for the Kernel Keto is American women and men of active age (from 20 to 40 years). Additionally, the group includes teenagers who prefer quick snacks on the go and older adults who need additional valuable and essential elements for the body.
These are active and modern residents of large cities and megacities who plan their time for food consumption and follow new, fashionable trends. Most buyers strive to keep themselves in good physical shape and tone, giving preference to high-quality innovations and the best cooking technologies. Clients choose healthy and low-calorie foods as the basis of their diet. The Kernel Keto’s delicious and natural bars are chosen as a healthy alternative to bread or regular snacks between meals.
The Company’s Market Competition
Indeed, today, many corporations are producing healthy and low-calorie bars, and some of these organizations focus specifically on this category of goods. Anyway, from the point of view of assessing the market of this “creation,” and its key aspects, one should emphasize the following points. For instance, one of the prominent companies with which Kernel Keto will compete is Nestle and its line of snacks Fitness Bar. Therefore, Nestle and Fitness products are dominant not only within the USA but also around the world among the designated Kernel Keto audience.
In this case, it is also recommended to identify the factors influencing Kernel Keto’s market competition assessment. According to Zeder (2020), five main factors affect companies’ competition in the economic aspect: product features, number of sellers, barriers to entry, availability of information, and location. First of all, a distinctive feature of Kernel Keto products, which stands out against the background of analogs, is the production of various tasty, delicious, natural, low-calorie, saturated, and nutritious bars without sweet bases and chocolate fillings. They are suitable for both active people and those interested in healthy food. Many existing bars that are advertised as healthy are full of carbohydrates and sugar. However, Kernel Keto offers bars filled exclusively with nutritious and natural ingredients; they are rich in proteins and, at the same time, delicious.
Secondly, there is a relatively average level of competition in the US in the market of nourishing snacks. However, as for healthy and low-calorie “appetizers,” Kernel Keto bars will be one of the unique offers in the industry. Thirdly, barriers to entry to the market are high, as they require additional investments for rental of premises, utilities, manufacturing resources, machinery, different production components, as well as brand and product promotion. Fourthly, it is easy for consumers to compare prices and find a more profitable alternative. Fifth, the location of the sellers and the premises for production are within “walking distance” from each other. Accordingly, competition decreases with the active interaction of two of the parties.
In addition, in order to stand out from the competition, it is necessary to follow several basic rules. Primarily, Kernel Keto should develop a unique and exciting product to impress potential customers. It is recommended to clarify and analyze consumers’ needs; customer service should be impeccable. Investments in brand promotion and marketing campaigns are needed for the first time. The firm can offer a test period or a refund if buyers do not like Kernel Keto’s bars.
The Company’s Value Proposition
Based on the general characteristics of the products and the company for its production and the target audience, the following aspects should be identified regarding the value proposition of the Kernel Keto. Hence, for instance, the firm offers a new, uncommon and different approach to creating snacks. It should be noted that most of the analogs are hidden under the guise of “healthy” products, but in reality, they contain a high amount of simple carbohydrates and calories. Kernel Keto presents shoppers with a holistic, unique product that will complement the breaks between full meals. The bars contain only the most useful, valuable, natural, and high-quality components. Consequently, consumers no longer need to study the product description in more detail, read reviews and additional information about the “hidden moments” from the manufacturer.
The Marketing Slogan/Tagline for The Product
Undoubtedly, for both the brand and its product to be easily recognizable, it is essential to have a unique, special, and memorable slogan, examples of which are the following expressions and phrases.
- Our most reliable investments are investments in your health!
- The art of real taste inside.
- Never before have healthy ingredients been so delicious and saturated.
- Health of mind and body in a bar.
- Catch a healthy mood!
- Who is looking for natural, finds Kernel Keto’s bar.
The Marketing Vehicles
Today, there are many ways, methods, tactics, strategies, and tools to achieve success in promoting the brand and the products offered. In this vein, I would attempt to synthesize the available and possible marketing tools into a single whole. For example, these include promotion on the Internet, advertising on television and radio, calls to potential customers, SMS and mailing, website creation, brochures, booklets, and much more.
The Key Reasons
However, as the primary type of marketing, I would prefer the promotion of products in the Internet space for the following reasons. Firstly, most of the target audience are active young people. As a rule, this category of people spends more time on the Internet and social networks using phones, tablets, laptops, and computers. Secondly, modern Internet marketing has advanced to such unprecedented heights that it has learned to “target”, select the “right” audience, creating the proper conditions both to attract the majority of customers and save money.
Marketing Budget
References
Goldschmidt, B. (2020). Nutrition bars aren’t just for dedicated athletes. Progressive Grocer. Web.
Zeder, R. (2020). Factors that influence competition in economics. Quickonomics. Web.