BLK Enjoy the Dark Side of Water Essay

BLK is the first ever fulvic- enhanced all natural mineral water. This is a recent item that has recently entered the market. This product derives from a proprietary blend of fulvic acid which is a yellow brown substance. It is a derivative of shew payoff that is mined from an 80 million year old source deep within the earth. Naturally black in color, the formula binds to the molecules of pure Canadian effluence water giving BLK its signature black color, with no artificial dyes, coloring, or additives. Fulvic acid is critical in the growth of plant life, attending the shipping and concentration of nutrients. Fulvic acids small molecular structure allows for the fast absorption of over 77 different trace minerals and elements, powerful electrolytes, and antioxidants that are boilersuit soundly for the body. BLK is distributed by BLK Enterprises LLC in youthful York, NY. It is a private company categorized under Water Distilled Manufacturers. It was established in 2011 and inco rporated in New York.Product DecisionAs a convocation we wanted to choose a product that was different and nutrious and yet at the same time was astetically good-hearted to the eye of the consumer. We run aground BLK water to be a product that met these needs. One of our group members knew of this product and introduced it to our group and we all agreed that it would be a heavy(p) product to learn about as 3 out of 4 of us had never heard of or come across this product. After our group sampled this product and learned more about it we were all curious as to why this product was not more widely known or advertize to become more popular.Research ObjectivesOur group will be using the five side by side(p) criterias to evaluate the product as it will help us to explore the BLK Water in order to determine if the product is a success or failure in the competitive market. To have a successful product in the market, we question BLKs attributes based on the following A) Customer Interpr etation evaluative reactions ( perception) B) Product packaging/ Product way package design, size, price, color, bottle volume C) Advertisements T.V, events, word of mouth, celebrity endorsements, D) Distribution grocery stores and specialty storesE) Market Segmentation who are the main customers that are trying to be reached? Research HypothesisBLK Water is a successful company. This water is a new emerging phenomenon that is sweeping its way across shelves nationwide. However, due to a study lack in marketing, we believe that this product is a failure on the overall business model and will not catch on deal the other major bottled water companies such as Vitamin Water, Smart Water, Evian, or Fiji. We believe that BLK can do much better if they promote their product by dint of different channels.MethodologyA) In order to accomplish the previous section menti wholenessd, we will need to research the product and locate it, determining the places that the product is almost sold a t * Location of the product- we found this product to be available at all grocery stores, but not available at whatchamacallum stores, coffee shops, or fitness centers. * Placement of the product- BLK water is appearanceed in grocery stores along with all other popular waters and is lacking any display that really makes it stand out to the consumer. * Price- The price of BLK water is slightly higher than regular bottled water such as deer park, being about one dollar moreBut is in the average price range of specialty waters such as Figi and Vitamin Water. Therefore we agree that the price is unexceptionable for the product. B) Take notes on our first reaction with the product in the grocery store environment. We all the same similar shocking reaction when we first found BLK Water in the grocery store which we will be explaining in our presentation. C) Do some research, then based on these, form hypotheses of the product to hold forth why the product may or may not be doing well in the bottled water market. D) Develop postdates and distribute to the public using the following information* Male/ female* Occupation* Age* Income* Would they consider buying the product?* Would they try the product?* Would they buy the product?* This will allow us to have an overall idea of what the consumers think of the product, thus providing us with a better understanding of the customers viewpoint. E) Collect data and compile all survey results- realised 11/13/2012 F) Review data and interpret the productG) Conclusion about the productQuestionnaire DesignWe distributed this to our whole Marketing Research 342 class. This is our cover from our questionnaire. We asked 14 different questions in hopes to understand the potential customer basis. In our questionnaire, we questioned the product. We mainly focused on the waters appearance. We used interval scales on our survey asking the question on a 1-5 non-forced scale.The participants could rate how they felt about the questi on 1 being definitely not and 5 being most definitely and 3 being neutral. For our demographics we asked questions regarding gender which was a simple, male/female choice, income, age, and education in a range format, which we asked at the end of our survey as these are sensitive questions and participants are not always willing to share these answers with strangers. Our screening question was our first question of the survey which would tellus the present is a copy of our actual survey we used. BLK WATERConsumer Water Preference SurveyBLK is the first ever fulvic- enhanced all natural mineral water. This is a recent item that has recently entered the market. This product derives from a proprietary blend of fulvic acid which is a yellow brown substance. It is a derivative of plant matter that is mined from an 80 million year old source deep within the earth. Naturally black in color, the formula binds to the molecules of pure Canadian spring water giving BLK its signature black col or, with no artificial dyes, coloring, or additives.Fulvic acid is critical in the growth of plant life, helping the transportation and absorption of nutrients. Fulvic acids small molecular structure allows for the fast absorption of over 77 different trace minerals and elements, powerful electrolytes, and antioxidants that are overall good for the body. BLK is distributed by BLK Enterprises LLC in New York, NY. It is a private company categorized under Water Distilled Manufacturers. It was established in 2011 and incorporated in New York.