Sorghum syrup is a relatively new product in the market that comes from drought-resistant sorghum grass. It came from Africa around the 1850s and is thick, sweet, with a toasty nutty flavor. It contains nutritious properties such as iron, calcium, and potassium. Sorghum is so nutritious that according to the National Sweet Sorghum Producers and Processors Association, before the invention of supplements doctors often prescribed patients with a daily doses of sorghum syrup.
Where to Buy: Tennessee ($9 for 16-ounce jug) and Kentucky ($12 for 8-ounce tin) and also available for shopping online. For more information, please look at the link below.
Relevance to Marketing: when we talked about the typical life cycle of a new product, we have learned about the phases each new product goes through that are: market introduction, market growth, market maturity, and sales decline. For each stage, managers have to identify specific decisions for strategic planning. Sorghum syrup appears to be in the introduction phase where sales are low because the idea is new in the market. In this phase informative promotion is needed to educate consumers about the product.
MKTG 3343
Priscila Quimboca
No comments:
Post a Comment