Marketing Mix
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I have produced a one hundred percent natural protein powder that I am going to sell in selected organic stores and in online shops. To describe my product and the work of it the four Ps are used to define what would be most effective for my product. To advertise my creation I am going to use the direct marketing from the promotion mix.
A. The four Ps are used to describe my product Hemp Protein powder.
Product: I am going to start a company that produce a protein powder for active people or just as a healthy snack that everyone could have. The key concept of this product is that it is 100 % natural, it do not contain any chemical and it is ecologic produced which means that the product is clean and natural and free from pesticides and there is no artificial additives and preservatives. The product is made of pure powdered hemp. People are becoming more and more conscious about what they put in their mouths and being healthy is something that never goes out of style, rather more of the opposite way. People want to live a healthy life. Most of the protein powders on the market these days are artificially produced and contain a lot of additives and sweeteners which could have a lot of side effects. It is one of the reasons why anyone who wants to preserve their health should choose the natural product of hemp protein instead of all the chemically produced protein found in the market.
Price: Depending on the price elasticity you have to consider a few things before you can put a price on the product. My hemp protein belongs to the category of inelastic products and is susceptible to price changes. But given that exercise and health never goes out of style and that people are often willing to pay for their health, the price will remain at about 20 euros for 500 grams, it is little more than the artificial protein powder costs, which is about 16 euros for a kilo. But people are often aware that the natural and organic products are more expensive, and those who are demanding these products are even willing to pay the price. Often you make an competition-based and value-based pricing of the product. There are a lot of competing brands in the category, and therefore I cannot put too high a price. It should be roughly in the same price range. Given that the manufacturing process usually costs more for organic products than for non-organic products the price will be automatically higher.
Promotion: To promote the product you have to know who you are going to promote it for and where you are going to do that. It is a protein powder that are primarily used as a nutritional supplement for those who exercise or have an active lifestyle but can also serve as a healthy snack for those who wish to include more protein in their diets. I would say that the target group are women and men with a solid income between 20-40 years old that live a healthy and active