A question for the audience🚦
What is the monthly income range of Bangladeshi individuals who regularly purchase branded bottled water like Aquafina, Royal Bhutan, or Evian?
The bottled water industry has witnessed significant growth over the years, with various brands targeting different segments of the population. This study focuses on Aquafina, Royal Bhutan, and Evian, three widely recognized water brands known for their unique characteristics and pricing strategies.
Aquafina: Aquafina, owned by PepsiCo, is positioned as a convenient and affordable option for everyday hydration. The pricing strategy of Aquafina targets a broad consumer base, making it accessible to people across various income levels. This brand is likely to appeal to budget-conscious consumers who prioritize affordability without compromising on quality.
Royal Bhutan: Royal Bhutan Water positions itself as a premium product with a focus on purity and sustainability. This brand is associated with a sense of luxury and exclusivity, targeting a niche market that values quality and is willing to pay a premium for it. Consumers who resonate with sustainability and are willing to invest more in premium products are likely to be the target audience for Royal Bhutan Water.
evian : Evian is known for its mineral-rich composition and its emphasis on natural purity. This brand has carved a niche in the high-end bottled water market, targeting health-conscious consumers who are willing to pay a premium for superior mineral content and pristine sourcing. Evian's target audience comprises individuals who prioritize health benefits and are willing to invest in premium water options.
Consumer Preferences and Affordability: Through the survey data, it was observed that Aquafina had a wider reach among different income groups due to its affordability. Royal Bhutan was favored by consumers who associated water quality with a higher price point, and Evian appealed to health-conscious consumers willing to pay extra for mineral-rich water.
The study highlights the correlation between pricing strategies and targets audience preferences in the bottled water market. Aquafina's affordability allows it to cater to a broad consumer base, while Royal Bhutan and Evian focus on distinct segments willing to pay more for specific attributes. Understanding these dynamics is crucial for marketers to effectively position their brands and cater to the diverse preferences within the bottled water industry.
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