Launching a new product : the "KeepWarm Microwave"

Résumé du document

The Company has the intention to set up a microwave manufacturing company and to achieve a turnover of five million pounds in the third year of running. The name of this company that will provide the customers a brand new innovation is BEAM. It was decided to have as a slogan of the company: ?"BEAM? We know what you mean'. This way the customers can be assured about the fact that this team will satisfy their needs. This enterprise is very aware of its brand name and reputation and they know that the pressure on this market could be withstood only if they can differentiate their product and enter a niche market segment. The brand new innovation of the company is a "KeepWarm" microwave that helps to keep the warmed or cooked food for longer period of time as warm and crisp as it was at the beginning. It will have an additional compartment that will contain a heating lamp. This way this microwave will be a 2 in 1 product. The market analysis had shown that the number of sold products will be guaranteed as compared to the last decade. Microwaves have become a necessity rather than a luxury item and they can be used in various ways: melting defrosting, reheating, cooking, and preparing entire meals. This innovation will give one extra function to these that is the "KeepWarm" facility. What is more the number of two-person households is growing and such a microwave is needed in these homes, as well as in one-person households and in those families who have small children.

Extraits

[...] People like to find more and more convenient solutions to their problems and as a consequence of this fact they tend to use microwaves more often to prepare meals quickly. The market of microwaves has already been regarded as to be a commodity market, where the customers have little brand loyalty. A very big problem in this market is that there is not enough innovation. Despite the fact that the customers would expect to have new features for their microwaves, the companies are not innovative enough to satisfy this need. [...]

[...] Delivering this requires that everyone should be given appropriate support to find and retain a job. This Pre-Budget Report and Comprehensive Spending Review sets out further steps towards this, including increasing the Jobseeker's Allowance and Income Support rates for 16-17 year olds from April 2008 to align with the 18-24 year olds rates and new measures to strengthen support for jobseekers including piloting a new rights and responsibilities seminar. These measures will support the far-reaching reforms proposed in the Green Paper In Work, Better Off: next steps to full employment. [...]

[...] Conclusion The aim of the BEAM Company is to manufacture a brand new product that will be unique on the microwave's market. Taking into consideration the market analysis and the financial forecasts of the product it could be taken as a conclusion that the microwave with KeepWarm system is worth producing, because it will give the possibility to attain the target 5 million pounds turnover in the third year of manufacturing. On the one hand this guarantee is based on the fact that it will generate high value for the money of the customers. [...]

[...] In this needs to be monitor the customers' power of influence. Analysing the market of microwaves it could be noticed, that the buyers have got high power, because: the normal microwaves are nearly undifferentiated they can be easily substituted with other products if the consumers want to switch to another product, they do not have to bear high switching costs It could be concluded, that the market of microwaves is definitely a “buyers' market” Bargaining power of suppliers At this section of the Porter's forced the possible input sources need to be checked. [...]

[...] The Government's economic reforms have continued to help the UK maintain macroeconomic stability throughout this period. The Budget shows that the economy is expected to grow by to per cent in 2007, and by to 3 percent in 2008 and 2009, as forecast in the Pre-Budget Report Inflation is set to remain low and stable. The public finances remain sound and the Government is on track to meet its fiscal rules, with borrowing forecast to be billion in 2006-07 and debt lower than in the US, Japan, Italy, France and Germany. [...]