Preview

Microfridge Analysis

Satisfactory Essays
Open Document
Open Document
575 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Microfridge Analysis
Key Marketing Issues:
Product Competition and Differentiation:
In this case, Bennett hasn’t differentiated MicroFridge from other products. Although MicroFridge was the combination of refrigerator, freezer and 500-watt microwave oven, this product was easy to copy and giant electrical companies would manufacture the same type of products within six months if the market was huge. Therefore, how would MicroFridge sustain in the fierce competitions among big appliance companies.

Marketing Positioning:
Bennett planned to focus on college students segment and motel guests segment. The issues in the college students were in three aspects. One aspect was the approval for college administrators. If MicroFridge was introduced to colleges, the meal plans would reduce and then meal revenues of colleges would decrease. So college administrators would not be easy to be persuaded to purchase MicroFridge. The other aspect was the price charged for the college students. Students were more likely to accept MicroFridge at the price of $ 50 per year than that of $ 75 per year, which meant that price was the key issue to attract customers. Therefore, Bennett has to decide the proper price per year charged for students to increase profits and users. Motel aimed to provide accommodations for guests at a cheap price. Why would motels increase their expenses to purchase MicroFridge and pay for extra electrical expenses?

Product design:
MicroFridge products had devised electrical circuitry that shut off power to refrigerator and freezer whenever the microwave oven was switched on. But the problem was the food, drinks, ice creams in refrigerator or freezer would go bad when the microwave oven was using for a long time once, especially in summer. Another problem in this product was that the lifetime for the power switch. From life experience, the power switch had never been used for 7 years. Power switches were the key components in MicroFridge products. When the power switch stopped

You May Also Find These Documents Helpful

  • Powerful Essays

    MKT1-Task 318 1.

    • 1685 Words
    • 7 Pages

    Company G is a reputable and well established firm in the electronics market. Company G has developed a brand new line of small appliances they believe will prosper in the small appliance market. The brand new line of toaster ovens are visually attractive to potential buyers, while the distinctive features provide the same quality and elegance associated with Company G’s products. Company G’s goal is to provide top quality products that will put the company in a position to reach the profit potential for small appliances.…

    • 1685 Words
    • 7 Pages
    Powerful Essays
  • Satisfactory Essays

    You will apply important microeconomics concepts toward the competitive strategies of the Kudler Fine Food Virtual Organization that affect its long-term profitability. You will evaluate the differences between market structures and review the organization’s strategic plan, marketing overview, market surveys, and other material to evaluate the organization’s competitiveness in the marketplace, including its customers’ views. In the process, you will identify the market structure that you believe best applies to this organization, and assess how the market structure positively and negatively affects the firm’s long-term profitability.…

    • 508 Words
    • 3 Pages
    Satisfactory Essays
  • Best Essays

    Loblaws Case Study

    • 3212 Words
    • 13 Pages

    As one thoroughly analyzes the Loblaw’s Companies Ltd. it is identified that Loblaw’s success is determined by their willingness to serve their customers with high quality products at a level of customer satisfaction at every location. Loblaw’s has transformed the persona of a general grocery store to a superstore with all the necessities for their customers. With such drastic changes and new implementations Loblaw’s success in Canada is correlated to their innovated ways to attract their customers. But there is always room for improvement, especially in a market where new entrants are low but large companies can overwhelm. There are three major issues that Loblaw’s can address to further succeed in this industry. Firstly, Loblaw’s is lacking global presence, by narrowing their market strictly in Canada. Secondly, the Loblaw’s competition is growing fierce in such a small market like Canada, and larger global corporations are infiltrating this market. Loblaw’s need’s to continue their industry leading dominance in this market. Lastly, Loblaw’s methods of innovating their technology has been industry leading, but how are they going to remain on top and evolve their technology to retain market share and maintain desire profits.…

    • 3212 Words
    • 13 Pages
    Best Essays
  • Better Essays

    ECO550 Asignment 1

    • 1252 Words
    • 4 Pages

    An organization engages with a primary aim of achieving better and improved results from operations on a daily basis in many activities. The market is one place in which the organization can realize either success or failure depending on how it carries its activities (Slack & Lewis, 2003). The previously discussed regression identifies that the low-calorie microwavable food firm operates in a monopolistic market structure. This implies a competitive market with a large number of firms, each controlling a small portion of the market share, also coupled with slightly differentiated products. Low-calorie microwavable food comes in differentiated forms, and this implies competition in the market environment. The organization then realizes ideal ways of carrying out operations to ensure efficiency and productivity in the long run. An efficient plan is necessary in determining the effectiveness of the market structure in which the organization operates. Such a plan will have a primary focus on the products in the market, number of firms participating, trends in pricing and vital methods of product promotion (Bragg, 2012).…

    • 1252 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    M1A3

    • 337 Words
    • 1 Page

    5. Disregard the events of part four. Assume that the manufacturers of this product lobby the government’s lawmakers, in terms of this product being an essential for college students but they are considering halting production due to the lack of profits. The lawmakers agree and now set a price floor at $150. What would happen in this market?…

    • 337 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    2. Determine the pricing strategy that will benefit your restaurant the most. Explain why you chose…

    • 350 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Good Night Motel Case

    • 1299 Words
    • 6 Pages

    The quantitative factors involved dictate that McGregor should accept Alward’s offer for accommodations for his church group, at half the room rate, for Friday and Saturday, October 26 and 27. According to the facts of the case, pre-2008, from October 16 to May 14, the motel was rarely more than a quarter full at any time while post-2008, the motel’s occupancy rates fell 7 to 15 percent year round. In other words, if McGregor refuses Alward’s offer, during that weekend, the motel will be at its usual capacity of less than quarter full. However, with the church group there, paying half the rate, it will be as if the motel were half-full! Half-full is better than less than a quarter full, so logic dictates that McGregor must accept Alward’s offer. There will be more guests occupying all rooms at half the rate than if there were regular guests paying the regular price and filling fewer than a quarter of the motel’s rooms. However, this fact means that service costs and maintenance cost will be higher with Alward’s group than with regular customers. In other…

    • 1299 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    Exam 1

    • 4986 Words
    • 20 Pages

    c. Explain the roles played by the price elasticity of demand and the income elasticity of demand in the menu decisions McDonald’s is contemplating.…

    • 4986 Words
    • 20 Pages
    Powerful Essays
  • Powerful Essays

    jet copies

    • 2166 Words
    • 7 Pages

    Online a plan those managers in the low-calorie microwavable food company could follow when selecting pricing strategies for making their products as inelastic as possible.…

    • 2166 Words
    • 7 Pages
    Powerful Essays
  • Better Essays

    MABE Case Final

    • 2648 Words
    • 11 Pages

    expanding range of products to fridges and stoves in a wider business scope in Central…

    • 2648 Words
    • 11 Pages
    Better Essays
  • Better Essays

    Economic 111

    • 930 Words
    • 4 Pages

    Week two of class has been dedicated to discuss and explain how supply and demand determines the price and quantity of goods and services within a competitive market structure; examine how normal, inferior, substitutes and complement goods affects the supply and demand structure; and explain how and why surplus and shortages can occur with various goods and services. There are two parts for this assignment that covers material in chapter four.…

    • 930 Words
    • 4 Pages
    Better Essays
  • Good Essays

    Inventions have continuously been reconstructed in different ways stretching technology to new lengths, which has changed the way we live today. When comparing the lifestyle of people in today’s world with those in the past, it is easy to recognize the way in which technology has changed us as; we now rely on it to assist in everyday activities. One such technological device, which is currently relied upon by many is the microwave oven. It is common to have microwave ovens in many different kitchen atmospheres; such as restaurants, offices and homes. At present, it is safe to say most families, over 95% of American households, own a microwave oven. Many of which commented that this device is difficult or impossible to do without it (Remich, 2007). According to a report by Lukovitz (2009), the economic crisis had an impact upon many Americans, which led them to change the way, they ate. This change led to many people eating at home but not necessarily cooking their own food. As the microwave oven gained popularity among households, the objective of this essay is to examine the origins of the microwave ovens in addition to the impact it has on the consumers.…

    • 1415 Words
    • 6 Pages
    Good Essays
  • Good Essays

    The owner of the two Burger King restaurants provides PWC with the data shown in Table 1 (Table 1 is in a separate excel file). Q is the total number of Combination 1 meals sold at both locations during each week in 1998. P is the average price charged for a Combination 1 meal at the two locations. [Prices are identical at the two Burger King locations.] Every week the Burger King owner advertises special price offers at its two restaurants exclusively in daily newspaper advertisements. A is the dollar amount spent on newspaper ads for each week in 1998. The owner could not provide PWC with data on prices charged by other competing restaurants during 1998. For the one-year time period of the study, household income and population in the suburb did not change enough to warrant inclusion in the demand analysis.…

    • 474 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Modern technology has touched everyone in some form or fashion. This includes everyday items such as the conventional and microwave oven. Both cook food, however, each cooks in its own particular way. Conventional oven cooks at a slower pace and the microwave speeds up cooking time by using specially prepared, packed entrees. This paper will compare and contrast conventional ovens and microwave ovens.…

    • 420 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Tweeter Case Summary

    • 1479 Words
    • 6 Pages

    Tweeter is a specialty electronics store, which dealt in middle and high end electronics in the New England area. The majority of consumers in the market for electronics are interested in price and Tweeter is in most cases well above the other retailers advertised starting prices. The middle and high end electronics are sold at around the same prices in all stores, but the product offerings made by Tweeter and the competitors advertising has made it price somewhat uncompetitive. The price biter and the quality/service customers together account for 90% of Tweeter customers. Tweeter targets a niche segment, to be sustaining growth in that segment amongst the low cost players and mass marketers should be synonymous…

    • 1479 Words
    • 6 Pages
    Good Essays