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MGMT423 Presentation

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by

Allison Farrer

on 26 April 2010

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Transcript of MGMT423 Presentation

[Hand-held Hot Iron]
Joe Doss, Katie Esposito, Allison Farrer, Matt Reek Prototype Marketing Forecasted Sales Manufactuing Our Proposal: Target market: college students/young professionals living in
small spaces with limited room for an ironing board Product features: heats up in 30 seconds
2 hot-iron plates
3 easy levels of heat including: delicates, normal, and heavy
dual voltage for worldwide travel
auto turn off button
carrying pouch included



Idea Screening campus testing: free poduct trials for students
Target: product demonstrations in aisles for one week Promotion The hand-held hot iron will be promoted as the quick and easy way to touch-up wrinkly clothes. It is different from a regular iron and steamer because it is so small, yet it gets the job done efficiently with little or no effort at all. Price
large iron: $19.99 Place: Target, Walmart, and campus bookstores Intro Date & Key Tactics Product Launch:
August 1, 2010

Strategies:
deals before career fairs
doorbuster deals on Black Friday
advertise as a great gift for teens
Estimated ATR model based on Purdue student population
40000 Students
30% Awareness
20% Availability
60% Trial based on preliminary survey results
---------------------------------------------
1440 Units @ $19.99 per unit = $28,786 expected revenue

Feasibility in Pricing Based on our results from concept testing, we know $19.99 is feasible for the Hand-Held Hot Iron because it uses similar materials as a hair straightner.

Example - a budget hair straightener priced at $20 has 30
available settings. Only 3 settings are available on the Hand-Held Hot
Iron, and it also heats up to lower temperatures, lowering the price in
manufacturing. However, the size of heat pads will be larger, and that causes price
to rise. Feasibility in Quality and Materials similar in design to a straightener, so uses similar materials
a budget model can be built to last for years

Feasibility in Delivery We plan on selling this product through Conair as a brand extension. This will lower cost because it uses existing supplies and similarities to straighteners. This will also allow Conair to expand their brand into a previously untapped market. Concept Testing The Problem Many college students are walking around campus with wrinkly clothes. When asked why they do not iron their clothes, these were the responses:
not enough room for an iron and an ironing board
too impatient to wait for the iron to heat up
that's my mom's job
i don't know how to iron clothes
who irons clothes anymore?
when students were asked if they would purchase this product, only 12% said no. Other responses included yes, maybe, and depends on price. Competition Brookstone - $35 Target - $22.99 Questions?
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