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Jacket Heater

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by

Monica Doyle

on 6 March 2013

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Transcript of Jacket Heater

Matthew Berg-Johnsen, Monica Doyle, Katelyn Cheng, Michelle Vasquez, Ashleigh Allison The Heatwear Company Objectives Key to Success Justification Our objectives are to provide a cheaper product than other similar heated jackets in the industry in order to increase sales of our heated jacket and to maximize our profits for a successful business. The success of our company relies heavily on the influence our advertisements have on the consumer base. Another strong component that is integral for success is finding resources that are reliable, of a good quality, and cheap enough to produce so that we can beat out the competition with the allure of cheaper prices. We are establishing this business to sell heated jackets as we hope to ensure that more people can remain warm during the winters more successfully by providing a cheaper product that will attract more consumers. Mission Statement - It is our mission to provide a jacket that is warmer than normal jackets and as a result fulfills the consumer of this product’s needs to remain warm and comfortable in any situations during the winter where temperatures fall below freezing. In order to accomplish this, we want to make the heated jacket at a cheaper price so that it is available to millions of more people. Business Organization Our company will rely on a partnership that distributes profits and liability among the partners equally. If one partner leaves or passes away, the company will continue to function and future profits that were supposed to go to that partner will be distributed equally. S.W.O.T Strengths: The strength of our business comes in the form of a more affordable price for a heated jacket compared to competitors.
Weaknesses: Our strive for an affordable heated jacket may result in a reduction in the quality of the components that are used in the assembly of the jacket.
Opportunities: In a weaker economy, we have an opportunity to attract a greater number of consumers with our cheap price. We also have the advantage of increasingly harsher winters that are coming year by year.
Threats: Our competitors may be able to afford a price cut and higher quality resources for the assembly of their jackets. Health concerns may be an issue for pregnant women who use this heated jacket; however, warning labels will be places in the jackets to prevent such events from happening. Marketing Strategy and Implementation Summary Value Proposition Offers everyone a wearable heater for comfort in the cold at an affordable price. Competitive Edge 1) Our company is different from all others because we offer our product at a price that is lower than other heating jackets.
2) A consumer would choose our product over others because our jacket has the capability of being a heater with many different heating settings and the ability to disperse heat throughout the body. Marketing Plan Our consumers will learn about our product through a multitude of sources. These sources include television commercials as well as Internet ads. The chosen ads will be displayed through the winter in the Northeast and Midwest, but also through the year in Alaska. What kind of product is it?
It is a jacket that comes with a warmer. For whom is it designed? It is designed for a mass of people
of any ages. What are the most important
benefits your product offers? The warmer inside the jacket gives off heat
and keeps the person warm for a long time. How is your product different
from your competitors? The heating system inside the jacket provides a greater range of settings for temperature and is a more efficient system to disperse heat throughout the body. Katelyn Katelyn Matthew Matthew Ashleigh Location Analysis Our business will be located in the Alaska, the Northeast, and the Midwest regions. The reason we chose these areas is because it is the perfect place to wear our heater jacket. It will keep you warm day and night and no matter how cold it is outside you will still stay warm. Our competition should be slim to none because most clothing companies wouldn't be able to manufacture a jacket so technologically advanced. The negative aspect of the product is that it would cost a lot of money to make the jacket itself compared to normal jackets, yet it would still be worth the price. Ashleigh Geographics Alaska and the Midwest and Northeast
regions of the United States including
New York, Pennsylvania, Connecticut,
Massachusetts, Michigan, Ohio,
and Illinois estimated
to have 120 million residents. Ashleigh Psychographics: Our intended consumers are those who have to go outside
into the cold every day during the winter.
Be it for a five-minute walk to the mailbox or a two-mile
walk to work, these consumers want to make sure they
are warm and comfortable in the harshest of conditions.
These consumers generally buy clothing
that is high quality
and is cheaper than similar products.These clothing items satisfy them and as a result
make them want to purchase more. Monica Demographics Our target audience for
this product is an age group
ranging from 30 years old
and older that earns an income
of at least $70,000 or more annually. The jackets are available in
both male and female variants. Monica Behavior As a U.S. citizen in the Midwest or Northeast region, our intended consumers know that
they need the warmest clothing in order to stay comfortable during the winter. These
consumers realize that even with normal jackets, gusts of cold air are able to make the
jacket ineffective at keeping them warm. As a result, the consumers search for clothing products that will be effective at keeping them warm. The consumers can look up information on their computers and have basic ideas of what they are looking for. Our consumers will be able to find our product on well-known retailer websites such as JCPenney and can make their purchases either online or in-store depending on their preference. We will also provide an intuitive website that allows our consumers to purchase our product online from that website. Monica Competitive Analysis Most clothing companies would compete with us to have customers buy their normal and ordinary jackets. Though their jackets might be less expensive, our jacket would keep our customers warm and happy no matter what the weather may be. The biggest strength is the easy fluctuation in pricing, and the fact that they would be able to make the product faster than we could make ours. They also have a head start because they are already in the clothing market. Their strategies would be to lower the cost and make jackets that are pretty warm for a lesser cost. We would have to also compete against the name brands because they would probably want to buy a name brand yet our product would be better for them in the long run. Michelle Michelle Potential future products or services. Shoe-sock like that has toe heater that keep feet warm

Hot n’ Cold Thermos Michelle Period 3: Economics
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