SlowCowCaseStudy
To: Jeffrey Grabinsky
From: Catherine Hernandez
Date: March 15, 2015
Re: SLOW COW
1.The stage of the product life cycle theory the energy drinks are in is the the maturity stage. We are able to identify that energy drinks are in the maturity stage of the product life cycle by determining their marketing implications. Companies that are in the maturing stage are distinguished by the deceleration of total product sales. This does not mean that the company is near its decline but that the company’s sales remain stagnant and that the company has to innovate new products/services with the intentions of increasing future sales. As for the case of the anti-energy drinks, they are in the growth stage of the product life cycle. Products that are in the growth stage are characterized by its quick increase in sales. Since a lot of consumers are new to the idea of an anti-energy drink, a lot of them would be willing to try it hence, increasing sales within a short period of time. If people are satisfied with the product, they will most likely repurchase it. Making the growth stage a crucial stage for the survival of the product when it hits the maturity stage.
2. If I was in the position of a marketing or brand manager for Slow Cow, my primary focus would be to use market modification strategies. For instance, Slow Cow’s promise to its consumers is “to soothe the mind and the body”, to relieve consumers of their daily stress and anxieties. If Slow Cow were to increase usage then, it may possibly appeal to new consumers. An increase of use situation that Slow Cow could introduce to their product is that instead of smoking or using drugs as an outlet for stress, consumers could turn to Slow Cow in order to receive the same stress-free feeling. This would serve as a healthy alternative to smoking/drug use and therefore, would increase consumer’s well-beings.
3. A key target market for Slow Cow would be students university/college students. High school students could be a
From: Catherine Hernandez
Date: March 15, 2015
Re: SLOW COW
1.The stage of the product life cycle theory the energy drinks are in is the the maturity stage. We are able to identify that energy drinks are in the maturity stage of the product life cycle by determining their marketing implications. Companies that are in the maturing stage are distinguished by the deceleration of total product sales. This does not mean that the company is near its decline but that the company’s sales remain stagnant and that the company has to innovate new products/services with the intentions of increasing future sales. As for the case of the anti-energy drinks, they are in the growth stage of the product life cycle. Products that are in the growth stage are characterized by its quick increase in sales. Since a lot of consumers are new to the idea of an anti-energy drink, a lot of them would be willing to try it hence, increasing sales within a short period of time. If people are satisfied with the product, they will most likely repurchase it. Making the growth stage a crucial stage for the survival of the product when it hits the maturity stage.
2. If I was in the position of a marketing or brand manager for Slow Cow, my primary focus would be to use market modification strategies. For instance, Slow Cow’s promise to its consumers is “to soothe the mind and the body”, to relieve consumers of their daily stress and anxieties. If Slow Cow were to increase usage then, it may possibly appeal to new consumers. An increase of use situation that Slow Cow could introduce to their product is that instead of smoking or using drugs as an outlet for stress, consumers could turn to Slow Cow in order to receive the same stress-free feeling. This would serve as a healthy alternative to smoking/drug use and therefore, would increase consumer’s well-beings.
3. A key target market for Slow Cow would be students university/college students. High school students could be a