On all four levels of the PEST test, this product appears to be exceedingly feasible. There are currently no patent protection against using central home networking systems via either existing market players or specific electronic retailers. Since this is an emerging field, political and legal barriers are almost non-existent and therefore pose no real threat to future product advancement problems. Although the current economic trend is towards a cooling of the overall economy, the consumer electronics market is still very strong. This is because both technology as well general consumer spending has not declined along with the economy. The sociocultural forces surrounding this current circumstance does not explicitly affect the home networking market. Since it is an addition to current home electronics, acceptance of this product is contingent upon already existing technology within the sector. Finally, the technological climate in the current era is extremely conducive for home networking systems. Consumer electronics is the fastest growing technology sector in the United States for the past three years. As greater complexity and general usage increases, the need for home networking systems also increase, therefore it is to our advantage that pace of technological growth continues. In effect, current technological forces are growing the home networking market for this product without any outside impetus.
The target audience for this product are consumers who have multiple consumer electronics. In order to effectively target this audience an analysis...
Since the purchase of our system requires existing consumer electronics, the target audience has to be relatively affluent, with income ranging upwards of 80,000 to 100,000 per household. Since the special appeal of our product is for centralizing electronics, the biggest sector will be entertainment electronics, therefore advertisements and marketing campaigns should surround this particular sector.
Public relations becomes an important part of this product launch for two reasons, first, since this is an emerging market there are not obvious industry leaders, By establishing ourselves as a trusted company with significant experience within the field, and offering a high quality product, consumers will naturally gravitate to us. In this sector it is important to brand ourselves as high quality manufacturers with a trusted and compassionate management team. Since there are no national level competitors, competing on price is relatively unimportant, rather it is the PR branding that will be most lucrative for attracting consumers. Another sector that has used this strategy effectively has been the high end network devices industry, where IBM uses its PR to brand itself a the trusted leader in quality and efficiency.
Our marketing technique needs to play on the increasing complexity of consumer electronics. The importance our product comes when consumers are inundated with current consumer electronics, therefore our marketing strategy should be to brand ourselves as an efficiency device.
Company, Competitor, And Consumer Analysis Consumer Analysis Segmentation, Targeting, Positioning? Who is the potential Segment? The market segment for this product would best be determined through some creative market research. Absent that, it makes sense to associate the product with active people who carry electronics with them, who drive vehicles, or who have a tendency to lose their possessions in their homes. Single people, parents with young children, older empty nesters, and elderly people
The study methodology is predicated on a literature review of over two dozen previous studies, stratified across both the French and U.K.-based respondent populations. Of particular interest with regard to the methodology is the researcher's detailed work on defining variations in cultural differences, which is an area that Dr. Hofstede and the Model of Cultural Dimensions is specifically designed to take into account (Marieke, Hofstede, 2010). The study is highly
Sales Channel Comparison Consumer Channel (Lands' End) Land's End is a world leader in multi-channel retailing and multi-channel management, selling online, over the telephone, through its own stores, affiliate stores and through Sears' larger retail outlets. Sears Holdings acquired Lands' End in 2001 and has since then continually integrated the company's products into the Sears selling channels as well. The core focus of the company from a product standpoint is casual and
Overview of Study This study used a five-chapter format to achieve the above-stated research purpose. Chapter one of the study was used to introduce the topics under consideration, provide a statement of the problem, the purpose and importance of the study, as well as its scope and rationale. Chapter two provides a critical review of the relevant and peer-reviewed literature, and chapter three more fully describes the study's methodology, including a
Operational Effectiveness Fully explain the two statements/quotes below and why they are true. In the answer explain what is meant by "operational effectiveness" (first quote) and fit and sustainability (second quote). Please explain as if you are speaking top managers around the corporate office for them to realize how our company is going to achieve true competitive excellence and not settle for mediocrity. First quote: "Constant improvement in operational effectiveness is necessary
Corporate Mission As the largest mass merchandiser in the world, Wal-Mart's work in supply chain execution, research, and policies defines best practices for the broader high volume retailing industry worldwide. Wal-Mart is comprised of three operating segments including the Wal-Mart stores, Sam's Club and the International Stores. The typical Wal-Mart discount store as 50 departments or more and a few are offering groceries in addition to apparel, fabrics, stationery and books,