Gaining market share is one of the most challenging tasks for any company. Achieving and maintaining a competitive edge in the marketplace requires a deep understanding of how customer behavior shifts across various markets. It also demands that companies create a strategy for maximizing profits by knowing what to sell, when and where to sell it, at what price to charge, and in what format. CEO and founder Yanni Hufnagel has built an impressive business using technology to meet clients’ needs. Hufnagel has big plans for his lemon water company. He aims to reach $1 billion in sales, making it huge. Lemon Perfect enjoyed early success, but Hufnagel plans to take it to the next level with an aggressive expansion strategy. Hufnagel believes that people who want to keep fit want a convenient and refreshing beverage in addition to water.
Hufnagel Changes Formula to Maximize the Brand’s Visibility
Lemon Perfect has always been a brand with a mission. As its sales skyrocketed, the company began producing more and more products. Consumers are cultured to examine the goods on the ground. A display mounted on the floor is meant to attract customers’ attention. After a few seconds of viewing the product, they will move toward the shelf and make a purchase. As a “keep refrigerated” beverage, consumers have little reason to place Lemon Perfect in the back of the refrigerator, away from how they naturally use it. That’s why Yanni Hufnagel converted Lemon Perfect’s lemon water to a shelf-stable beverage. The conversion eliminates all the costs associated with cold storage. That makes it a much more profitable move for consumers. A shelf-stable product, like Lemon Perfect, is perfect for both the consumer and the retailer.
Hufnagel Knows the Price Is Right
Yanni Hufnagel is a shrewd businessman. He understands that the price of Lemon Perfect as a shelf-stable beverage is right. Consumers want to buy premium beverages but want them to be affordable. Keeping lemon water in the fridge seems more convenient to consumers than storing Lemon Perfect at room temperature. That is why the company has invested in a shelf-stable product that is highly profitable to retailers and consumers alike. Hufnagel has yet to raise the cash cost of Lemon Perfect from $1.99 as of this time, but he has no plans to expand the price of the product. He hypothesizes compressing margins at the piece’s start will produce a great story.