Fridgeman's FridgeMaster Product Report

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GRIN Verlag, Jul 7, 2003 - Business & Economics - 33 pages
Seminar paper from the year 1999 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 93%, Fontys University of Applied Sciences Venlo (Marketing), course: Business English, language: English, abstract: Our company "Fridgeman" has been on the market for refrigerators a very long time. In the last few years a strong competition grew up that made us think about a new product idea in order to prevent any price wars that would possibly have killed our firm. In a meeting that included members of all different departments of our company we developed the idea of a high-tech refrigerator with a lot of automatic functions that make its user able to save time and money in everyday life. For instance it will be able to order all needs for foods automatically at the next supermarket so that the user just has to pick up a basket full of food when he or she drives home. Moreover it saves energy, has a huge recipes database included and can make its users suggestions for healthy meals they particularly need. We defined careerists and busy single households to be our main target group but even everyone who wants to save time or who does not have the motivation to do shopping will be in our focus. The product does not have to face any competition when it is introduced into a brand-new market segment and we will keep a technological lead of one year towards our competitors. This will enable us to come up with new innovations every time the other firms have copied our old product features. Moreover we offer several services to support every customer in case that there is a malfunction of the fridge. The macroenvironmental forces offer a lot of opportunities to us especially the category of the cultural environment which also includes Faith Popcorn's latest trends. For example the development towards more single households and more people who withdraw into their homes to mind the "big ugly world" offers a great opportunity to us. There is no actual danger that will make the launch of our product very risky due to the fact that we keep control of our production and distribution costs and that we are very experienced in manufacturing fridges. The "FridgeMaster" will underline our high quality level because our company offers its products on a premium market. Nevertheless our prices are affordable for a broad range of people even for our new product. The standard version will cost 1399 DM within the first 6-8 weeks and after this period 1599 DM have to be paid. A product variation which is smaller and runs on castors will cost 1449 DM. [...]

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