CMI’s approach to metal pads has significant efficiency advantages over currently used pads available in the market. However‚ CMI has to take into account several barriers to entry into this market. The primary barrier is that most companies viewed role of pads as a necessary accessory or tangent item instead of viewing them as a potentially value adding or cost reducing part of pile driving. In order to penetrate the market‚ CMI has to alter the point of view of pile driving pads for the opinion leaders
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1. Q1-1) What price would you charge for the Cumberland pad? According to the six stages of setting price‚ ①we have to select the pricing objective. Since Cumberland is in the level of introducing CMI‚ they have to pursue product-quality leadership which is to offer “affordable luxuries” for now and consider about maximizing profit later. ②The second stage is to determine demand. So‚ Cumberland has to consider consumers’ price sensitivity - in this case sensitive to quality. Therefore‚ we should
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1. What’s your price for the curled metal pads? Why? 2. How attractive an opportunity is this for CMI? 3. How are you going to market these pads? Describe your marketing plan. 4. What are you going to say to the Colerick Foundation? Exhibit 1: SWOT Analysis | | | | Strengths | Weaknesses | CMI was one of the largest manufacturers of curled metal products in US with an 80% market share | CMI’s sales were dipping and management was not optimistic of maintaining
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Marketing Cumberland Metal Industries ( CMI cushion pads) The Problem Definition: For Cumberland Metal Industries the curled metal cushion pads represent a great breakthrough. These pads offer the company the opportunity to diversify‚ and double their sales‚ given a proper market introduction. Cumberland Industries faces the challenge to Place in the market (promote/advertise) and price their latest innovation‚ the curled metal cushion pads in a way that it reveals the great advantages that the
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Simpson is uncertain how he should market the pads in order to reach potential influencers and cust omers. Furthermore‚ there are no precedents for advertising or promoting this product line. More i mportantly‚ Simpson must determine a price for the product‚ as he has promised to call Colerick Foun dation Company by the end of the week. Effectively pricing these pads and following a well defined market strategy could place CMI as a perennial market leader. The successful development of the new
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always write my log in any style I want to and there is no pressure. So I enjoyed blogging because it was one of way to express myself by writing blogs using my own style of writing. According to the article called “Diary-Keeping Pet Project for Bloggers” by Atsuko Matsumoto‚ they also agree “Writing a diary does not require any special skills‚ knowledge‚ or experience. This makes it easier for many Japanese to start their own blogs.” The other reason why it is easy to write a blog is because since
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because ticket prices fluctuate hourly. It would also be ideal to book a few weeks in advance and to check with smaller carriers as well as the major airlines. To keep costs low‚ make sure to do your research about seasonal prices. We asked travel blogger Geraldine DeRuiter aka The Everywhere it’s how she scores the greatest airfare deals year-round. Her secret is starting the search with Kayak. Kayak‚ recently acquired by Priceline‚ scans hundreds of airfare sites for top deals. Searching the Kayak
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profit decreased from 5.7 million in 2006 to 3.5 million in 2007‚ a net decrease of 38.7%. The company was under the pressure to diversity its products in order to increase the sales and the net profit. CMI had developed new product‚ curled metal pad (CM pad) that according to Joseph Fernandez‚ vice-president of the Engineered Division. CMI had to consider how to enter into the market for this new products‚ identify the potential customers especially and determine the price of this new product. Competitive
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website will increase thus making sure the country’s nation know about our products. 5. Social Media Marketing Since the usage of social media has grown tremendously‚ social media marketing is a great way to sell our products. Sites like Facebook‚ Blogger‚ Tumblr and Pinterest allow customers to share valuable content or information with other people in their network. 6. Using Video Content To appeal to a larger audience‚ we will film a video showcasing our products and have an employee or a spokesperson
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