Water is vital for all life. There is no life without water and is necessary for all day-to-day life for all living things in this world. That’s why almost 71 % of the earth is covered with water. It is available everywhere in this world and the cost is entirely FREE.
In our old days, our ancestors built water sources to bring and drink water. The hidden truth is no one born as a human being never rejects anyone who asks for water. Water is the only thing that can deliver free for anywhere and any time.
But, One day a clever guy introduced the same free water in a bottle. And he made a price for the water and the price for the bottle and the charges for the water purification. And he gives a name for that product. “The Mineral Water”.
Branding is Everything
There are millions of brands of mineral water plants available across the world. From these brands 80% of water plants are local and 20 % of them having international branding.
People mostly concentrate on branding. Even the same product makes too much of a difference in price because of brand value. And alose the Buyers most prefer branded products with low cost than local products with cheap price.
Top Mineral water brands Across the World is :
- Glaceau Smart Water
- Poland Spring
- Danone Bottle
- Deer Part
And the most popular brands available in India is :
- Himalayan Mineral water
- Qua Mineral Water
Supply of Same Product with Different Design and Quantity
In this case, there is much value for two things. Branding & Promotions.
Even if the product is nothing, the brand value makes more sense. People always know that the product that they sell is the free water that is available everywhere. But, if they are willing to purchase they first prefer the products from their lovely brand.
If the brand name is popular, no one cares about the price.
In the case of mineral water, the branded companies that sell mineral water are limited. But, if we look around there are millions of mineral water bottles around us.
Business is always a battle between competitors & growth is always achieve through Promotions.
The promotions may sometimes be simple and nothing but it is an effective strategy that is made to attract the attraction/attention of customers.
Whatever Strategies we made for obtaining the attention of customers towards our product are the basics of promotion technique.
The promotion technique may be designing the bottles with a unique/attractive design to make the bottle with an effective design. Selling the product with lower price than other, Make combo offer, Bulk Order, etc
The promotions range from the costly small bottle of mineral water having some special flavor to a large can of mineral water about 5L or 10L available at low cost. Everything is a part of Business.
Is Price is always a Matter ???
If the product is available everywhere then the price is a matter. If the products are from free sources then the price is definitely a matter.
Here, the product is water. And it is always available free of charge. So, people always make a comparison. They compare price between brands, price between quantity, price between bulk order, price between offers, price between flavors added. Etc
In this case, pricing is an important factor for this business. We always needed to compare our competitor’s prices. If we needed to add more price, we needed to specify what it is for.
Most of the customers are always looking for the cheapest price for drinking water.
Battle of Competitions
If the business is profitable, Then Competitions are always a battle. As per statistics Pepsico has the world’s highest market share for selling mineral water. The World’s top leading mineral water brands are:
- Aquafina [ Owned by pepsico company around 17 % of market share ]
- Dastani [ Owned by coca cola company around 16 % of market share ]
- Nestle Mineral water [ Market value around $3.5 billion US dollar representing around 15 % market share ]
By analysing the statistics of India, Bisleri is the top most selling brand in mineral water industry. The top 3 Companies are :
- Bisleri [ Brand Statistics around 3000 cr Indian Rupees in bottled water segment, holding 36 % share in indian market ]
- Kinley [ Owned by coco cola company around 25 % of market share ]
- Aquafina [ Owned by Aquafina company around 15 % of market value ]