Market Research †Butteroil

Brief Synopsis of Alfreshco Butterroil Butterroil is an anhydrous milk-based product consisting of dairy fat at its purest form. This product consists of different types of lipids having varying melting points, which makes the products multi-purpose. Notably, Alfreshco Butteroil is a unique product as it can be used in a variety of food processing practices in both homes and industries.Advertising We will write a custom report sample on Market Research – Butteroil specifically for you for only $16.05 $11/page Learn More For instance, the butter can be combined with powdered milk to produce fresh milk, while it can also be used in chocolate manufacturing. As a result, Alfreshco Butteroil brand products can be described as multipurpose since it can be used in baking, roasting and applying on bread like margarine. It has been revealed that, the main products of anhydrous milk fat are anhydrous Butteroil, Butteroil and anhydrous milk fat. More so, thi s product was revealed to have enticing smell and taste of buttery scent. Since the product is manufactured in its natural form, it has been found useful in both industrial and home food processing activities. In bakery industries, Alfreshco Butteroil products have been found to be a major ingredient in manufacturing of confectionary and ice creams. As it has been revealed, this product has been revealed to have high nutritive value, capable of providing individuals with their daily energy requirement sustainably. As a result, its popularity in the market lies on its ability to meet the needs of its users largely. Marketing Issues Facing Butteroil Products Since Alfreshco Butteroil products have been made naturally without additives, their demand in the market has been increasing significantly. Considering that this product has various purposes both in homes and industries in food processing practices, Alfreshco Butteroil has been a great success in the market. However, this product has been revealed to go bad within short period, making it less reliable once stored for some time. More specifically the products are less durable, which poses great threat for this product’s popularity in the near future. As a result, this product has been revealed to be in danger of lacking enough market, especially with the rising competition in the contemporary markets (Armstrong and Kotler 23). The aspect of the product of having the capacity to be employed in various applications with regard to various temperatures enhances its wider usage capacity. Having special nutrients recommendable to the people of all ages, this product has the opportunity to thrive better in the market. Since it is suitable to both children and adults, the product has a wider market base, despite it being targeted to young children.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Lenscold (49) consid ers the ability of a product to meet the requirements of a wider customer base as an opportunity for its potential future demand. On this basis, there is a potential future for the market of this product, as it has the opportunity to be purchased by all age groups due to its high nutritive value. Positioning of Alfreshco Butteroil Brand As it has been revealed, Alfreshco Butteroil products have been credible product in the market due to its reportedly high nutritive value and multi-purpose nature. Particularly, Alfreshco Butteroil products have been found to be more effective than other competing brands like Canola oil among others. Since this product is cholesterol free and has less fat saturation than other butter products, it has been most liked by many people (Armstrong and Kotler 41). Basically, one of the main competitive advantages of this product is that, on top of its refreshing butter aroma, Alfreshco Butteroil offers its users with a wider variety of uses. On this basis, this product has been found quite useful both homes and industrial in various food processing products. Through being multi-dimensional in its growth ways, the company of this product has enhanced its prosperity in the market. According to Luther (98), it is quite essential for corporations to combine four product-markets, called Ansoff’s matrix, as shown in the diagram below. Existing Products New Products Existing Markets Market Penetration Product Development New Markets Market Development Diversification As the product seeks to increase its market share through expansion, its focus on large customer base can be described as an appropriate strategy to enhance its growth. As it has been observed, product development has been done in this brand since wider varieties of products under the same brand. With regard to Armstrong and Kotler (54), if firms wish to introduce new products in the already established market segments, they would be required to do product dive rsification. As it has been observed in the Alfreshco Butteroil, its popularity in the market has been attributed to its uniqueness and product differentiation under the same brand. Factors Contributing to the Success of Alfreshco Butteroil Brand As it has been observed, this product is meant for wide range of customers. With its applicability in home and industrial food processing practices, the target market for this product seems to be food manufacturers and homes. Having its nutrients recommended to all age groups, this product has wider range of customers as it is not confined to age groups or lifestyles.Advertising We will write a custom report sample on Market Research – Butteroil specifically for you for only $16.05 $11/page Learn More Being a multi-purpose product, it popularity in the market seems promising due to its naturalness and enticing nature to its customers (Armstrong and Kotler 43). The reason to believe that this product is s uperior amongst its competitors has been facilitated by its ability to be replaced by all its substitutes for a variety of food processing processes. Having the potential to entice its customers by being multipurpose and uniqueness reinforces its positive attitude of the customers towards it (Luther 35). More so, the frames of references for this product are strategically enhancing its success in the market. Since this brand competes with other products used for cooking, its efficient-nature in cooking reinforced by other added advantages enhances its higher relevance to the customers. As it has been observed, natural and healthy nature of Alfresco Butteroil facilitates its high demand in the market, as it is perceived as a unique product amongst its competitors. According to Lenscold (74), the ability of a product to have added advantages lacking in its competitors forms the basis for its ultimate success in the market. Particularly, the benefit differences between this product and its competitors forms a string basis for its success in the market. Conclusion As it has been observed, Alfreshco Butteroil is a product having the potential to thrive well in the market due to its various competitive advantages. Being a multi-purpose commodity, Alfreshco Butteroil has been highly useful in homes and industries due to its ability to replace all other substitutes in cooking. As a result, this product has largely been competitive in the market due to its uniqueness and superiority in terms of usage for various purposes. However, this product seems to lack the ability to stay for long under room temperatures, unless confined in freezing conditions. This is the main weakness identified for this product.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Works Cited Armstrong, Gregory and Kotler, Patrick. Successful Marketing Techniques. New York:   Prentice Hall Publishers, 2010. Lenscold, Jackson. Marketing ROI: The Path to Campaign, Customer and Corporate  Profitability. New York: McGraw-Hill Publishers, 2003. Luther, Wycliffe. The Marketing Plan: How to Prepare and Implement it. New York: Prentice Hall, 2010. This report on Market Research – Butteroil was written and submitted by user Kody D. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.