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MARK NEW PRODUCT
Transcript of MARK NEW PRODUCT
The Market We Target
Consumers upgrading their kitchen faucets
New home buyers browsing for kitchen equipments
Commercial establishments operating in fast paced environment
What Kind of Marketing Mix Will We Use?
Ai & Co.
Overview Of AiFaucet
More designs and materials
Laboratories and Washrooms
Touch technology for water as well
What Does The
How Do We
Selective Distribution Channel
Bartle & Gibson and EMCO Corp.
Higher market price
New idea and technology
What Is Our
Biggest competitors are Moen and Kohler
Lower cost determinants
Retail Price $375
How Do We
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?
Limits Cross Contamination
Advertising of AiFaucet
Segmentation - Primary
Canada wide excluding territories
Family Income > $75,000
Home owners rather than renters
High to medium usage rate
Segmentation - Secondary
Restaurants & Cafe's Operating in Canada
High focus on high profit generating business
Head to Head Strategy:
Similar Products available with touch technology & style
"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
Planning ~ 13 months
Market Research - SWOT
Implementation ~ 4 months
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
Value of Ai&Co.
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