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Transcript of Warm-Touch
Breakdown of Structure
Warm-Touch Hand Warming Gloves
Warm Touch glove is a product that is handcrafted with exceptional make.
Provides fashionable, windproof, water resistant and durable product for daily use.
Each pair of gloves has one manual high/low button option for the user to adjust to the interior temperature they want.
Bradington & Young products to ensure highest-quality and maximum durability.
Includes a decorated glove box that is specific to either athletic gear or daily use.
Able to maintain heat when either friction between the gloves or solar power is present
is ideal for people who work outdoors, those who enjoy winter sports or even those who would like to keep their hands warm while shoveling snow.
The average price for gloves with interior heating (battery operated) is $60.00, Warm-Touch (without battery) is priced at $45.99.
Our market niche will consist of middle-class communities that in live the northern part of the nation.
Our 24% percent price decrease that over the competitors is purchase motivator for our price sensitive consumers
Imagine Living here....
"Igniting one life at a time"
Betelihem Kabtiymer, Mariama Bakayoko, Pete Burkhardt, Jeffery Paraoan
Ignite your life with Warm-touch!
-The places where we would like to distribute and sell the product in order to reach our consumer target market would be selling the product in cold regions across the nation.
-According to weather.com, from December 2013-February 2014 the states that experienced the most cold temperatures include, "Oklahoma,Minnesota, Iowa, Missouri, Illinois, Wisconsin, Indiana, and Michigan.”
The profit being at a minimal results from the large investment costs that are usually involved during product development, in addition to spending money on advertising and other tools of promotion to encourage consumer awareness.
- Our company would not have the funds to introduce the product in more than one region or even at a national level, so with that initially Warm-Touch gloves would be sold in markets throughout whole northern region only.
With the sales of the product increasing, that would mean more profit for our company to allow us to spend funds on having the product being introduced to a much larger target market. This includes levels such as regionally, nationally, and even internationally depending on how much profit resulted from our sales.
Advertising : Commercial Ads, Magazine Ads
Sales Promotion: Holiday Sales, Off-Season Sales,
BOGO Sales, Buy one get one Half Off
Public Relations: Consumers will identify the brand once it has been worn by celebrities that they look up too
Personal Selling: Implement direct Relationship sales people to interact and fullfill customer needs.
Direct Marketing: Email Blasts, Mail
-Warm Touch’s use of solar power to provide energy.
- Affordable price
- Durability of a product will be desirable to consumers
- Variance button on the gloves
-Durable exterior and interior
- High chance of being bought by target market consumers with it's affordable price
- The “green” market is expanding and solar power is trending.
- Market entry to technology and fashion is accessible.
- Without battery, Warm Touch may not last very long during use.
- Not as cheap as an average glove.
- Target market consists of mainly athletes
- Gloves are not made from a "popular" brand such as Nike, Adidas, etc.
- Starts in the introductory stage of the product life cycle where sales are slow and profit is at a minimal
- Other types of self-heating gloves already exist.
- Other glove companies may see the success Warm-Touch Gloves has in the market and try to attempt to make a product very similar
- Global warming
- Gloves are in athletic apparel industry, more specifically in athletic gloves category.
-According to the United States Census Bureau website, the NAISC code that mostly relates to our product was the code titled Leather Gloves for Sporting and Athletic Goods Manufacturing because the target market for our gloves are mainly for those consumers that participate in sports during cold climates.
-Competitors in the industry: Well-known companies such as Nike, Adidas, Reebok, and Columbia.
-Other companies that sell gloves with advanced heating technology such as "The Warming Store," "Skies.com," and "Warmawear."
Competitive and Micro environment Analysis
-Warm Touch Gloves has two main product characteristics that pose as competitive advantages against competitor companies:
The gloves are sold at a low price of $45.99. Most gloves that consists of a durable exterior and interior are usually $50 or more, and gloves with heated technology usually range from $100-$150.
The gloves come with a manual high/low button option to adjust the temperature inside the gloves.
-After using the
one product and multiple market strategy
when it comes to distributing and selling the gloves, we will be using the
multi-product branding strategy
if sales reflect that the hand warming gloves are high in demand during the growth stage of our product’s life cycle.
Market and Segment Analysis
-In regards to marketing Warm-Touch gloves, it would be best and cost-efficient to market the gloves using the one product and multiple market segments strategy.
-The consumer markets will be segmented through geographic segmentation.
-Given that Warm Touch gloves is a consumer tangible product, the intensive level of distribution that will be used to distribute the gloves to our target market consumers would be mediate.
Warm-Touch comes in several different colors,three sizes for both sexes, and with the option of making it either long-sleeved or standard cut.
For those who would like to personalize their product, we offer the option of adding your own style and
to the gloves.
Individuals who participate in outdoor activities in cold weather are in need of gloves that: 1) generate heat for long periods of times, 2) have durable exterior that can handle harsh daily activities, and 3) are within their budget.
Warm-Touch satisfies consumers' needs as it provides heat as long as there is solar power present or friction is applied. The high-quality leather we purchased for a relatively low price allows us to sell the product for the incomparable price of $45.99.
Our product differentiation is the absence of batteries, the use of solar power/friction and the durable quality of our leather.
Warm-Touch's branding consists of the logo image of open hands with a form of fire/light emitting from between the palms.
We would like to correlate the moral concept of having a warm touch or open palms to Warm-Touch gloves within the eyes of our consumers.