Furniture Marketing Case Study Example | Topics and Well Written Essays - 5000 words

Furniture Marketing - Case Study Example The owner, Martin Smith has designed a new product and is willing to launch it on 25th of March 2010. As the world is currently experiencing a recession, consideration will need to be paid to the price and dynamics of the product. This will be achieved by the marketing and strategy plan. Having experience for eight years in producing furniture, Mr. Martin has come up with the idea of producing a computer desk that can be used to study as well. What makes this product different from other computer desks in the market is the ability to adjust the size and adapt to the room size (Bennington, 2004). The product design is attractive and can be ordered in different colors. The non-adjustable part of the desk is 75cm (horizontal). There are extensions on either side of the desk that can be extended by 40cm. Its height is 72cm and the legs are metallic. Both sides of the desk have drawer space which can contain CDs, books or the PC case. The total weight will be 67.5Kg. The current UK legislation may have a negative impact due to increase in taxes. If taxes increase this increase may have to be passed down to the customer. Thus price of the product will increase. This will affect the business. Transport costs too would be affected. Because of credit crunch many students from different cultural backgrounds will be reluctant to register in universities. ... The cost of the desk is affordable to the majority Since there are some value added features in this product there is bound to be greater demand for this desk Weaknesses Since there are many similar products in the market there will be a stiff competition Since this is a new product the people would be reluctant to buy it Opportunities Since computers are used by the majority of the public at homes, offices, universities and colleges there is a greater demand for computer desks. Product placement strategy related opportunities. Company can place the product in well researched market segments like universities and colleges in London. It can make use of its manufacturing division and technical control division to enhance efficiency by reducing costs. Threats Market penetration pricing strategy adopted by rival furniture manufactures is a threat. Total Concept also has to adopt a similar strategy. The bigger rivals have a better supply chain advantage. They buy products at cheaper prices thus can afford to sell it at cheaper prices 3.2 PEST Analysis PEST Analysis is a strategic analysis method that is used to understand market growth and the business position potentials and directions. Political The current UK legislation may have a negative impact due to increase in taxes. If taxes increase this increase may have to be passed down to the customer. Thus price of the product will increase. This will affect the business. Transport costs too would be affected. Social Because of credit crunch many students from different cultural backgrounds will be reluctant to register in universities. This will have a negative effect on the

Identify and discuss the concept of time to market with respect to the Essay

Identify and discuss the concept of time to market with respect to the commercialization - Essay Example Launching a product is the ultimate stage in its development and is the stage where most resources are put into play in acts such as advertisement of the product, its promotion and other acts aimed at marketing it. According to Kotler (2008), a marketer or the company must therefore decide on the action plan for introducing the product in the market through a proper implementation of its decisions through the development of a marketing mix that has a proper budget, of which timing is integral. The time to launch and market a product varies depending on companies or the marketer as well as how complex the product is and for the purposes of a marketer launching a product, time is defined as the period from the time the product is conceived until it is launched (Cooper, 2001). Time plays an important factor in the success of a product and it is important that marketers launch their products at the time when there is a good economic situation in order to reap from maximum sales of the products (Kotler, 2003). Market researchers have argued before that, in order to have a maximum uptake of your product that will ultimately lead to value addition of the product. The marketer must avoid any acts that may seem to be aimed at cannibalizing products that are already in the market and the products should only be launched when there are no improvements that can be made to it in the near future. Further, marketers must be aware that the commercialization plan can only be successful wh en the timing of the launch is the correct time (Masterson and Pickton, 2010). When faced with the danger of cannibalizing the uptake of other products marketed by the marketer or their sales, or when the economy is facing a downturn, the launch of the product should be delayed. Value creation a product intended for the market depends on a number of factors that must be able to satisfy the often compelling and competitive needs of the customer. This is because, by delivering products of