Nest Learning Thermostat
August 17, 2012
Executive Summary
Economic turmoil has influenced a society where saving money is a top priority for every household. It is estimated that over 50 percent of a household energy bill is derived from the heating and cooling system; however, cutting edge technology has produced a heating and cooling system that can improve efficiency and result in a cost reduction in the overall household energy bill. Nest Labs, Inc. believes they have a solution with respect to energy and money conservation. The value proposition of the Nest Learning Thermostat states it can improve efficiency and reduce household energy bills up to twenty percent (Nest, 2012). After analyzing the various elements of marketing and their influences, it is clear Nest Labs, Inc. is thoroughly prepared to dominate in the field of smart thermostats. Nets Labs, Inc. has built a solid, differentiated product that aims directly at their target market and demographics. The focus of the Nest Learning Thermostat to be energy and cost efficient is both smart and effective (Nest, 2012). In today’s society, investing in the Nest Learning Thermostat may prove to be a smart decision.
Product Name
This paper will focus on the Nest Learning Thermostat which is manufactured by Nest Labs, Inc.
Product Description
The Nest Learning Thermostat is the first ‘smart’ thermostat on the market created to learn from a person’s lifestyle. During installation, a few behavioral questions are asked and throughout the first week, the homeowner is told to ‘teach’ the Nest when to change temperature settings. By doing so, the Nest ‘learns’ or records the homeowner’s day to day schedule (Nest, 2012).
Nest Labs, Inc. hopes the look of the thermostat will spark interest, become a conversational piece and drive awareness for their product (Levy, 2011). The Nest Learning Thermostat is a small, chic looking thermostat with modern appeal. Some features of the thermostat include: Auto-Away, Nest Sense, Energy
Executive Summary
Economic turmoil has influenced a society where saving money is a top priority for every household. It is estimated that over 50 percent of a household energy bill is derived from the heating and cooling system; however, cutting edge technology has produced a heating and cooling system that can improve efficiency and result in a cost reduction in the overall household energy bill. Nest Labs, Inc. believes they have a solution with respect to energy and money conservation. The value proposition of the Nest Learning Thermostat states it can improve efficiency and reduce household energy bills up to twenty percent (Nest, 2012). After analyzing the various elements of marketing and their influences, it is clear Nest Labs, Inc. is thoroughly prepared to dominate in the field of smart thermostats. Nets Labs, Inc. has built a solid, differentiated product that aims directly at their target market and demographics. The focus of the Nest Learning Thermostat to be energy and cost efficient is both smart and effective (Nest, 2012). In today’s society, investing in the Nest Learning Thermostat may prove to be a smart decision.
Product Name
This paper will focus on the Nest Learning Thermostat which is manufactured by Nest Labs, Inc.
Product Description
The Nest Learning Thermostat is the first ‘smart’ thermostat on the market created to learn from a person’s lifestyle. During installation, a few behavioral questions are asked and throughout the first week, the homeowner is told to ‘teach’ the Nest when to change temperature settings. By doing so, the Nest ‘learns’ or records the homeowner’s day to day schedule (Nest, 2012).
Nest Labs, Inc. hopes the look of the thermostat will spark interest, become a conversational piece and drive awareness for their product (Levy, 2011). The Nest Learning Thermostat is a small, chic looking thermostat with modern appeal. Some features of the thermostat include: Auto-Away, Nest Sense, Energy
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