LP3 Assignment: Product Concepts and Development This assignment will assess competency 5. Create a set of marketing planning activities as a tool for accomplishing organizational objectives....

GAGA A Market Study
GAGA A Market Study
Contents
Introduction:    2
Analysis and Study:    2
Conclusion    4
Introduction:
This video mainly swivels around a product that is unique and revolutionary as compared to other stereotypes in the market. There is an individuality to the category in which this product could be fit into as well as the target audience that the product GAGA sherbetter is poised to capture over a long period of time. At present, according to the essence conveyed by the Key Managerial Personnel of the respective company we could infer that the product has been in the market for nearly 15 years, however is limited in geographical reach and volume of sales. The following section is a deep dive analysis with respect to the product as well as the market strategy of the company as observed from the video.
Analysis and Study:
Cravens, D. W., & Piercy, N. (2006) has argued that any business that is pitting to be successful is expected to differentiate its product from that of the competitor in terms of content, quality, appeal as well as other related unique selling propositions. Firstly, the product Sherbetter is unique by itself as it could not be categorised in its entirety either under the ice cream or the Sherbet category. It was a completely new idea of a frozen, flavour based product in the market. The product was actually a frozen dessert, which was sweet and made from ingredients such as Milk, Liquid Cane Sugar, Cream, Skimmed Milk, , fruit Orange Juice Concentrate,...