With my product being children's vitamins, my target market would be children. I will not target to small children only. I will market to kids up to the age of 13 because that is the typical age that parents stop giving them children's vitamins.
"A competitive advantage is a set of unique features of a company and it's products that are perceived by the target market as significant and superior to those of the competition."(pg23)
I think that what is going to make my product stand out to my target market is it's taste, looks, and design. All of the vitamins that are popular are pretty much the same. They are all some type of fruit flavored and some are gummy. The gummy taste similar to candy but not fully. And the hard vitamins tend to have a very grainy taste to them. My vitamins are different because it's going to taste just like candy. The vitamins will also look like pieces of candy so the child's mind would be tricked into thinking that they are eating a piece of candy. I think this will draw my target market, children, away from the other vitamins that are out there. Every kid likes candy. I also think that because it's so different from the other vitamins, parents would want to try it out just to see how the child will like it.
" A product/service differentiation competitive advantage exists when a firm provides something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition"(pg24)
Starting off I am only going to market the product in the United States. I will put my products in supermarkets and Walmarts all around he country, I am going to market my product in those places because I know that is where families shop the most. Every family has to go to the super market to buy groceries. There's a better chance that a family would stumble upon my products at a supermarket or Walmart rather than a store such as CVS or Walgreen's.
"A sustainable competition advantage is one that cannot be copied by the competition."(pg25)
The competition will try to mimic my brand by making their own version of chocolate flavored vitamins. They will do this to attempt to take back the consumers in our target market.I believe that even though the taste can be copied but they cannot copy the taste. I think the taste alone is what's going to keep the buyers in my target market coming back.
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