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MARK NEW PRODUCT

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by

Brishti Kayastha

on 9 April 2014

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Transcript of MARK NEW PRODUCT

Ai & Co. - The AiFaucet
The Market We Target
Primary:
Consumers upgrading their kitchen faucets
New home buyers browsing for kitchen equipments

Secondary:
Commercial establishments operating in fast paced environment
What Kind of Marketing Mix Will We Use?
Ai & Co.
Overview Of AiFaucet
Strengths
by:
Ashley Narayan
Brishti Kayastha
Jared Lynkowski
Ruxil Narula

Opportunities
More designs and materials
Laboratories and Washrooms
Touch technology for water as well
Growing demand

What Does The
Product
Offer?
How Do We
Distribute
Our Product?
Through intermediaries
Selective Distribution Channel
Manufacturer
Delta
Distributor
Bartle & Gibson and EMCO Corp.
Retail outlets
Home Depot
Lowes
Rona
Show Rooms
Weakness
High cost
Higher market price
New idea and technology
Battery operated
What Is Our
Pricing
Strategy?
Biggest competitors are Moen and Kohler
Expected Demand
Price Penetration
Lower cost determinants
Retail Price $375
How Do We
Promote
The Product?
Advertisements:
Television
Magazines
Newspaper
Radio
Sales Representatives
Discount Coupons
Catalogues
Direct Mails
Threats
Old perceptions about electronic faucets
Touch2O Technology Faucet
How Do We Implement & Evaluate Our Marketing Plan?
What Contingencies Do We Face?
Over/underestimation of Target Market
Negative view towards the value of the product compared to the price.
Manufacturing process that could affect the number or the quality of the product
What Is the Valuation of Ai & Co?
Conclusion
Questions?
Comments?
Concerns?
Convenient
Less Space
Less Resources
Limits Cross Contamination
Different Settings
Multi-use
Modern design
Scratch free
Advertising of AiFaucet
Segmentation - Primary
Geographic:
Canada wide excluding territories

Demographic:
Age: 25-64
Family Income > $75,000
Home owners rather than renters

Behavioral:
Superior Quality
Convenience
Modern Style
High to medium usage rate
High Loyalty

Segmentation - Secondary
Restaurants & Cafe's Operating in Canada
High focus on high profit generating business
Service Rate
Convenience


Position Strategy
Head to Head Strategy:
Similar Products available with touch technology & style
Similar market
Position Statement
"AiFaucet offers advanced technology and glossy stainless steel finishing of the product to offer convenience and good looks with advance touch technology"
Automated soap dispenser and stylish kitchen faucet combined.
Utilizing existing touch technology for soap release
How Our Touch Technology Works
Ai&Co. Timeline
Planning ~ 13 months
Market Research - SWOT
Marketing Program
Implementation ~ 4 months
Obtaining Resources
Executing Marketing Plan
1-2 sales reps per province & a director for each Eastern and Western Canada
Evaluation ~ 1-3 months
Re-assess sales & expenses projections and target market if necessary
The product offers convenience and efficiency
Conducting the ability of a 2 in 1 product while maintaining a stylish sophisticated design
Eliminates excess clutter
A healthy alternative to getting soap the traditional way without spreading germs and bacteria
Contingencies
Value of Ai&Co.
Timeline
Mission Statement
We at Ai&Co strive to recognize the consumers desires of convenience and efficiency, so we want to integrate them into new and user friendly products, which utilize various technologies to accompany these desires

Company Value: $822,807
Total Time = 17-20 Months
Full transcript