Thalia Hinojosa

Thalia Hinojosa

Brenda Lidy

Marketing

Problem generator, what is the problem with the existing product?

·         A Maxim warming tray does not keep certain foods, such as, fruits or drinks, cold. This product simply keeps food warm.

Develop idea solutions for the problem.

·         Create a product that helps keep foods cold

·         Create an icing or cold tray that can remain cold or frozen for a couple of hours without needing ice.

Idea generation stage

·         There is not a current product like this idea

·         There are products that keep food cold, but they involve electricity. There are also coolers, but a cold tray can be used to keep ice cream out on the table or to enjoy your fruits while it’s still fresh. You also need ice for coolers. This product does not need ice to keep foods refreshed. You simply charge the battery, connect the battery to the product, and then take the product where ever consumers please. The product also comes in different sizes.

Concept Development and Testing

·         This new product would target people who seek to maintain their cold nourishments refreshing. Possibly parents, those who like to go out for picnics, and even people who are marketing their samples, such as, beverages.

Marketing Strategy Development & Idea Screening

·         My goal is to reach out to consumers who can use this product for a good cause, to help keep their nourishments fresh for a long period of time, to increase awareness of my product, and to sell a high amount of my product to several suppliers. I will also sell more existing products not only to existing customers and suppliers, but also new target markets, while keeping a relationship with my existing consumers.

·         This type of product will start off small, but will grow rapidly. It will target people of different genders, family types, occupations, and also interest of recreational activities. It will target almost every age group, ages 13 and higher. Their needs for buying this product would depend on their work demands, family needs, and social needs.

·         This product will be available online, in-stores, and over the phone for an affordable price, ranging between $30 and $75. Prices range depending on the size that consumers choose.

·         Feedback from my consumers is highly important. I would make sure to gather feedback upon my product, the service provided, customer service, and even about my competitors. Throughout time I will develop an analysis trend that will help me use historical data to improve my product and business.

·         The competitive advantage I have over my competitors is that I offer multiple ways of purchasing my product, which includes home delivery. I also offer a money back guarantee if they are dissatisfied with the product. These advantages will help to benefit all customers by making their life easier. It will also benefit suppliers by providing them with more business.

·         Strategies I will include when introducing my product will be advertising in newspapers, magazines, creating flyers, and offer discounts to specific organizations.

·         5 P’s – This product will be very styling. It will be a product that consumers can use for any type of event because of its size. It is not too big, yet never too small. The product will be large enough to fit a good amount of nourishments on, yet small enough to bring anywhere they want. They can choose the size they want because it is available in different sizes. The product is of high quality. Many consumers would rather pay more for better quality. This product is set a reasonable price with great quality. I will also provide warranty for the product. If the product is damaged, then consumers are guaranteed free repairs. I will also provide free accessories for the product, such as, a shield or case for the product for those who purchase it during a certain time of the day. For example, if consumers purchase the product between the times of 3p.m. through 5p.m. tomorrow, they will receive a free case. I will focus a lot on outstanding customer service. It is vital to make customers content with their experience in order to help expand my product. It is also important to take human resource management into account and hire the right people for the job. I must train them to develop the skills needed. Being that the product will be sold, starting off, over the phone and the internet it is targeted regionally. As it grows, it could be sold at popular stores or organizations, such as, Walmart, eBay, Amazon, etc.

Business Analysis

·         SWOT – The strengths of my product are that I have few competitors, the product can be delivered at home, and the quality of customer service. My weaknesses would be trying to introduce this product to new markets and consumers and it may take some time for my product to become very successful because it is a new product. The opportunities this product has are that is it a new product and similar products may not be as reliable. Threats include similar products and rise in competition.

·         My competitions are companies that sell coolers and one who have a similar product, but they need electricity to function properly throughout use. Companies, such as, Coleman sell these products and companies, such as, Walmart or Amazon, sell their products. What makes those products successful is being able to store a large amount of foods or nourishments in them. The electric coolers allows the foods to maintain fresh and cold for as long as customers wish, as long as it plugged in. My product differs because it is meant to keep a small amount of food refreshed. All consumers have to do is charge the battery and then go on outside. It is portable, meaning the consumers can travel with it anywhere they please and it is not too big for them, so it can fit just about anywhere. We also have different sizes of the product. Coolers may benefit more in some cases because this new product is a tray, not a deep container.

Product development

·         Customers will ‘want’ this product because it is clear and simple, it is valuable, and comes in great use. Eventually, it will become their ‘need’. As they notice the quality of this product, they will want to use it for more and more occasions. The financial goal of this product is to obviously have an increase in revenues and consumers, but my main focus is on customer service before I aim towards a high profit. Consumers are what will bring me more consumers.  Feedback from my consumers will help development and enhance my product. The standards I set are important because they include listening to consumer’s comments and suggestions. This product will start off by selling over the phone and online; it will provide delivery to consumers. Throughout time, it will become more popular and sell in stores. My product will grow by being sold to different geographical regions and by being appealed to wide base of customers.

Test Marketing

·         While test marketing this product I must be wary of the consequences while doing so. I must create a plan to prevent consumer loss before the product has actually launched. My plan would be to offer dissatisfied consumers a coupon for the product once it has launched. The allocations of the budget do need to be evaluated because I don’t want to lose any profits, but in order to maintain excellent customer service I may have to. I may have to take a risk that will eventually help me out later with my product and its success. I also need to find out if this product is one that can be repurchased from the same consumer and if they are switching from my competitors to my product. Chances are they may not switch, consumers may use both products depending on their type of trip or recreational activities they are involved in. The people that I use during this test will help me improve my product by the feedback they provide. I will take all positive and negative comments into account and fix all problems with the product. I will use aggressive promotion in order to advertise my product. This product will be available almost anyone because it is delivered to them. I will focus on the geographical locations of my competitors and suite my product in those same areas, as well as, where my competitors lack sales.

Commercialization

·         I will introduce this product into the market by launching it in an attractive city. The timing of the launch would take place during warm weather to give people an experience of reality with the product. It will also take place after work hours, after 4p.m., to help attract more people and have more people attend the event.

NOVA Energy! Never worry about charging your cellphone again!

Problem: The world of technology continues to advance further to greater heights of brilliance every day. What was once thought impossible is now an everyday event.  Often, the convenience of new technology also brings with it new dilemmas. In this case, that dilemma is our cell phone’s battery life. Today, almost everyone in the world is using a cell phone. Over the course of nearly three decades, the device has evolved into a modern staple of our world. Each new feature and addition has allowed us to stay in contact and perform the unthinkable. However, all of that fades as soon the battery is drained. Suddenly, we are right back to thirty or more years ago. A spare battery or charger helps, but it still feels like we haven’t gotten any further than we started once the glow of our phone’s screen goes dark. This product could potentially allow us to finally take a step ahead and never look back, once and for all.

Solution: The solution to this problem is actually very simple. What we have relied on in the past is energy stored in a container that had a limited amount of use before it was drained and needed to be refilled. What if we could use our phones all day and never worry about needing to charge them ever again? What if, instead of relying on recharging our phones, they recharged themselves while being used? What if you never had to bring extra cables with you or never needed to plug your phone into a wall, car charger, or computer ever again? What if your phone ran off of a renewable form of energy that was available every day, seven days a week? What if I told you that energy source has been there all along? It’s that big ball of gas in the sky that we call the sun. The product that will utilize this natural resource is called “Nova,” a solar-powered battery that charges while a phone is in use.

Development Journal: Solar energy is nothing new today. Many people have made great use of it from generating energy from solar panels on top of their homes. Small calculators, solar powered vehicles, and satellites in space use them. While the sun won’t technically be around forever, it will be around longer than when the human race will mostly likely survive. Therefore, it is an ideal energy source for us to take advantage without worry of any environmental or physical repercussions. The name “Nova” actually refers to a cataclysmic nuclear explosion in a white dwarf, which causes a sudden brightening of the star. A nova is caused by the accretion of hydrogen on to the surface of the star, which ignites and starts nuclear fusion. This is where the clever play on words comes from because when people think of the word “Nova” they will automatically think of the sun and therefore think of energy and light. This also allows for a general direction to follow when marketing the brand and constructing a logo.

Idea Generation: A battery that is compatible with a targeted range of devices such as smart phones that is capable of charging through solar panels on the back of the device it is attached to.  

Idea Screening: Understanding what the best possible way to implement the product onto other products is the key. Since this product is strictly a compliment to already existing products, it must be desirable to consumers with said products, in this case smart phone users. Luckily, the smart phone market is bigger than ever so it won’t be difficult to find an audience and target popular smart phone options. Android phones are specifically the most popular smart phones in use right now and are very easy to customize. All of the latest versions can easily have their batteries taken out and replaced with the “NOVA: solar powered energy cell” and have a custom back created to house it as well.

Concept Development & Testing: In order to design this product, a substantial amount of statistical data on smart phones will be necessary. Data on current popular models and even unreleased models will need to be documented and updated so that a compatible product will always be available. Not only that but in order to create this product, we will also need expert knowledge on developing solar panels and grafting them onto the batteries. Simply put, a solar panel works by allowing photons, or particles of light (taken from the sun), to knock electrons free from atoms, generating a flow of electricity. A customer back for the phone would then be used with a transparent plexiglass top that would allow the light to be absorbed by the panels on the battery and charge the phone. Several months would be required to ensure that the magnetic field from generating solar energy is contained and does not damage the phone or the components inside. Field testing for lucky volunteers would be a fantastic way to test this and spread the word before the official product launch.

Marketing Strategy Development: Our target market is everyone currently using a Smartphone and tired of the inconvenience of batteries dying on them when they really want to be able to use their phone all day. Thankfully, this is nearly every middle- and upper-class human being in the world right now. This is without a doubt mass marketing at its finest. Volunteers for beta testing will most likely consist of tech enthusiasts, who will likely show more genuine interest during just the planning stages. In the beginning, buzzwords will be needed to sell the product; however, because of its overall usefulness to any smart phone user, the product may soon enough sell itself, especially if competitors begin to create copies. Not only that, but smart phones may not be the only devices capable of using the product. Other electronics such as cameras, laptops, music/video players, and even portable gaming systems can all benefit from the convenience of solar energy!

Business Analysis:  Costs would include materials, warehouse management, factory overhead, hired professionals, employees, licensing, patent, advertising, and many other variables that could affect production. This is not a product that can be developed in a few weeks or even a year, but it could also be a game changer and leave its mark on the world forever. Return on investment will be extremely important. However, a simple prototype could theoretically be put together in a few months.

Product Development:  The expected development time is generally unknown, but could range anywhere from 3-5 years depending on the funding and testing of the product.

Test Marketing: Small test groups will be selected to try out the Nova batteries and see how well they fare in everyday use. They will be asked to keep track of how often the battery charged and the rate of sunlight it was exposed to, in addition to the wattage of non solar lights it was underneath. Later on, more common test groups will be selected from a larger pool of volunteers until customer satisfaction is compliant with our required standards before the official launch. This will ensure that a good deal of the public is already aware of the product and is excited for the launch!

Commercialization: Like all good products, marketing should begin as soon as possible. Teaser websites and ads will be used to incite curiosity asking the same series of “what if?” questions previously mentioned in this blog, ending with a flash of the trademark logo. We want consumers to be pondering about “NOVA” from the very beginning and follow the development process the whole way right up until the official launch. This will build a brand and create customer loyalty before the product is even publicly available. Once the product is available, it will be offered by every major electronics, phone carrier, and general store around such as Best Buy, H. H. Gregg, Walmart, Target, Verizon, AT&T, etc.

Roger John Morelli Zeller

Marketing Spring 2014