reate a 5-6 page paper (not including title page) that contains the following information:Include a concept statement. Concept statements are useful during the research phase as a means to obtain feedback on a new product idea from potential consumers before bringing the product to market. A concept statement must include the following key information:
Headline (This can be as simple as “Introducing XYZ Product!”)Product Description (Include a short statement describing the key features of your product.)Value Proposition (What value does your product commit to deliver to consumers? What are the key benefits of using your product? What problem does your product help consumers solve?)”Reason to Believe” (Why should consumers believe that your product will deliver the value it promises? Be sure to provide facts here, not “fluffy” language!)Suggested Retail PriceImage/Product Shot (Provide a drawing or mockup photo of your product.) Include a summary that explains the rationale for each component in the concept statement (for example, why you included certain product features, why the specified price was chosen, why the key benefits highlighted are the most important ones, etc.).Describe two ways that you will do market research to identify who your target audience is. Discuss the type of market research, how you will implement the research, and why you selected those types of research.Create a persona that represents your target market based on your research.Create a SWOT analysis for your product to identify strengths, weaknesses, opportunities, and threats.APA style
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Running head: Humidity Ceiling Fans 2000
Humidity Control Ceiling Fans 2000
SHEILA COLE
PRINCIPLES OF MARKETING
CHRISTOPHER ZOMBAS
RASMUSSEN COLLEGE
04/17/2017
Humidity Control Ceiling Fans 2000
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This paper will talk about The Humidity Control Ceiling Fans 2000; target markets, customer
segmentation, competitive landscape of the ceiling fans and the benefits that will be focused on
positioning strategy.
The Humidity Control ceiling fan is a basic suspended ceiling installation that incorporates a fan
with or blades and often consolidates lighting capacities. Ceiling fans are typically used to
reduce cooling, and most fans can operate in contrary to provide heating advantages too. They
are applied in many areas of the home, comprising living rooms, dining rooms, bedrooms, rooms
with high ceilings, and balconies.
The ceiling fans market is segmented mostly on the basis of price, value, and also aesthetics.
Humidity Control Ceiling Fan 2000 fans were earlier concentrating merely on the premium
segment of ceiling fans and were a recess team member in the market. To have a dictated place
in the fans market based on the might that organization had regarding brand name road and rail
network, and management capabilities plus understanding of the ceiling fans market, the
corporation strong-willed to aim most of the segments in the ceiling fan marketplace by
subsequent to a micro-segmentation plan. The corporation supposed that the Right merchandise
at the Right cost Point for the Right Target customer was the proper move toward establishing
the Right Competitive gain.
Consumer segmentation is the act dividing a client base into collection of individuals so as there
are comparable in explicit ways related to strategies, such as age, sex, welfare and expenditure
Humidity Control Ceiling Fans 2000
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habits. Consumer segmentation, plans include: Determining what information will be unruffled
and how it will be gathered, gathering information and combining data from a range of sources,
mounting techniques of statistics review for segmentation, building efficient communiqué
amongst related market units about the segmentation and putting into practice applications to in
fact compact with the information and reply to the knowledge it offers
Corporations engaging consumer segmentation function underneath the reality that each client is
unlike and that their selling struggles would be adequately served if they aim definite, minor
groups with reports with the intention that those clients would discover appropriate and guide
them to buy something. Corporations also hope to have an increased comprehending of their
buyers’ favorites and want with the thought of finding what every segment uncover most
precious to more precisely tailor marketing materials in the direction of that segment.
The postulate holding market segmentation is that clients are bizarre. They have unlike needs,
needs and first choices. They did exist varied client group uniform on some basis within but
mixed amongst every other. So, in its place of a single consistent commodity contribution, the
merchandise and service contributions need to be devised according to the requirements and
requirements of the segment so as to please them more improved. The marketer’s hypothesis is
that because of the uniformity that exists within the divisions of the group, they would react
likewise towards a product and service offering and behave likewise to a similar marketing
program.
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Market interferences should deem talking to the allotment terminals wherever most merchandise
selling happen. Approximately eighty percent of fans are sold at big retailers, with forty-five
percent to sixty percent of sales taking place at home development centers. Market interferences
ought to also be aimed at company that makes available commodities to these markets.
Customer segmentation relies on differentiating main differentiators that split customers into
groups that can be aimed. Data such as consumers’ psychographic, demographics, geography,
and also behavioral tendency are taken into account when influential customer segmentation
practices.
In a modern environment, it’s not possible to market a ceiling fans business to every possible
buyer. Even though your products may appeal or please to a wide cross-section of consumers,
your capability to lead in a definite market segment will directly affect brand recognition,
merchandise visibility, and eventually, total income.
For segmented mailing lists, we recommend using a proven partner with the experience to assist
in the execution of your segmented ceiling fans business marketing strategy.
By facilitating corporations to target precise groups of consumers, a client segmentation design
lets for the efficient allotment of marketing assets and the up selling chances and maximization
of the cross. When a collection of consumers is sent personalized communications as component
of a marketing mix that is designed around their needs, it’s simpler for corporations to send those
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consumers extraordinary offers predestined to hearten them to purchase more merchandises.
Segmentation can offer better consumer services and aid in customer trustworthiness,
maintenance. As a by- product of its modified landscape, marketing resources sent out using
client segmentation lean to be more appreciated by the client who obtains them as conflicting to
disinterested label messaging that does not recognize procurement record or any client
affiliation.
Demographic Segmentation is a Segment where clients are based on quantifiable statistics such
as age, earnings, profession.
Psychographic segmentation is subdividing a marketplace into like associations based on
emotional attributes, principles, and way of life. Psychographic information is helpful to be
familiar with disparity amongst clients who may be statistically like to an extra but whose
requirements and desires to differ. A way of life is the outline of living that circumscribes how
clients prefer to use their funds, and liveliness and that reflects their standards, tastes, and
favorites. It is an individual’s pattern of livelihood as articulated in his or her actions, wellbeing,
and ideas. The way of life confines something that is more than the client’s social class or
behavior. It outlines a person’s whole outline of acting and interrelating in the world
Use- based Segmentation is a Segment where clients are founded on the regularity of usage
Benefits Sought; a dominant type of segmentation is to collection buyers according to the various
advantages they look for from a product. It requires ruling the main advantages consumers look
Humidity Control Ceiling Fans 2000
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for in the commodity class, the kinds of clients who glance for every advantage, and the main
brands that bring every advantage.
Price the Humidity ceiling Fans should be competitive with an elevated deliverable value.
Generate an exclusive positioning by capitalizing on a center group benefit, formerly not used by
any other competitors. Use the supremacy of the vast organizational transportation, real brand
evenhandedness and wherewithal to take on the main company head on and invest in growing
the industry. Increase the width of the merchandise line and launch new products
Move towards a straight distribution scheme. The humidity ceiling fans company should
yardstick the market leader’s system reach and increase the retail network insistently.
The achievement of an aim marketing procedure pivots on marketers’ aptitude to recognize and
choose a suitable marketing segment. Next marketers have to work out a marketing mix up that
will aim the members segment by positioning their products to petition to that segment. Examine
the opponents’ places in the market.
Present merchandise with a competitive benefit to offer a motivation why customers will regard
the produce enhanced than the competition. Positioning can be founded on competing benefits
accompanying the lines of produce, services, delivery channels, clients, image, and price.
When a positioning policy is set, marketers should conclude the marketing mix by placing every
of the portions into place. Every components of this marketing mix have to sustain the
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merchandise’s positioning plan. Establishing a positioning plan is the final stride in the target
marketing procedure.
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References
Kim, Su-Yeon, et al. “Customer segmentation and strategy development based on customer
lifetime value: A case study.” Expert systems with applications 31.1 (2006): 101-107.
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