Get Full Essay Get access to this section to get all help you need with your essay and educational issues. He saw it as an opportunity to help not only people with arthritis but also to create more comfortable kitchen tools for everyone to use.
Conduct a very brief SWOT analysis of the internal and external environments affecting the kitchen gadget industry. Be sure to summarize your findings.
The kitchen gadget industry continues to experience slow growth relative to the higher Marketing oxo markets of intelligent home electronics and automated kitchen appliances. As a result the market for gadgets tends to become commod8ity-like where pricing and availability becomes the two most common approaches to differentiating products as they rapidly mature over time Consumer Reports, 36, Manufacturers serving this market rely on a steady stream of new product innovation to continually grow their sales as a result.
With these factors in mind here is a brief SWOT analysis of the internal and external environments affecting the kitchen gadget industry. Strengths of the industry include an exceptionally strong focus on research and development in many manufacturers Swisher, et.
Distribution channels are well established and the gadget industry has seen success using e-commerce globally as a means to scale selling and reduce operating costs as well.
A third strength of the industry is Marketing oxo well defined the approaches to pricing are within the existing and emerging distribution channels, The approaches used to incent and reward channel partners is fairly well established. Weaknesses include a very high dependence on innovation and the ability to cost-reduce them over time.
Over time gadgets become inelastic from a price elasticity standpoint and therefore lead to severe price cuts to gain distribution. Another weakness is quality when manufactures are more often more focused on price and not quality Consumer Reports, Dispute these strengths and weaknesses of the industry, there are significant opportunities Marketing oxo expand global sales by further expanding distribution agreements throughout Asian nations, and also creating a more effective e-commerce strategy for sections of Europe not accustomed to buying online today.
One of the most significant market opportunities is India, which has yet to be addressed by anyone in this market area. The threats to this industry include the tight government regulations in emerging markets, many of which are in Asia.
There are also trading regulations and constraints in selling into India that also need to be addressed. Describe them as specifically as you can. Might want to refer to Chapter 7 for the segmentation criteria.
How does this compare with the kitchen gadget markets described in the research? OXO has targeted the Baby Boomer market and senior citizens, yet they have been so effective with their marketing strategies, they are attracting consumers across a wide socioeconomic range.
The study by Bruner and Kumar shows that the most valued attribute by customers of gadgets is technology innovativeness. The study also found that the typical customers have a higher-than-average per capita income and also tended to be more educated Bruner, Kumar, OXO has been successful with their families of products because they are focusing on a blend of technology innovation with exceptio9nal ease of use, which together deliver an exceptionally positive customer experience from a kitchen gadget Jana, Walters, OXO is also doing exceptionally well in the dual income, no kids DINC segments of the market, as these couples often have a higher than average income and entertain more than their counterparts.
The focus on DINC couples who entertain and value technology innovation in the products is evident in how OXO is defining the product strategy today and into the future.
What value proposition does OXO provide to these customers? This is well defined as it encompasses the entertainment and lifestyle needs of DINC couples while also encompassing families across the consumer lifecycle spectrum.
This is in major contrast to its competitors, many of which who compare purely technical specifications and the functional aspects of the product. OXO is successful in large part because it is speaking to customers about benefits first, not just talking about features.
This approach also ensures it stays relevant across the entire spectrum of market segments it is attempting to serve with its product strategy. How has OXO developed their product line to be different from competing kitchen gadget manufacturers?
Describe the OXO products in terms of the three levels of product discussed in Chapter 8. Can you make any product strategy recommendations? Describe them in terms of value to the customer.
As the text states in chapter 8 there are three levels of product that must be addressed for any long-term product strategy to succeed over time.
The first is the core customer value. OXO is concentrating on ease of use and a heavy reliance on pliable, easily used utensils and gadgets that make food preparation enjoyable.
The core customer value that OXO is concentrating on is the experience first, supported by innovation and ingenuity in product design Bruner, Kumar, One of the most effective approaches to gaining greater innovation in any product strategy is to center on the unmet, urgent needs of customers and design with empathy in mind first.
This can be inferred from the aggregate data from the Bruner and Kumar study et. The videos shown from our test and the insights gained into the company show that the focus on empathy is what guides the products overall, and that mindset continues to be very successful for the company.
This strong focus on empathy is not nearly as present in competitors, who often are focused purely on the functional definition of products and their utilitarian not experiential, value.
OXO continues concentrating on customers from an empathetic standpoint into the next layer of the model shown in the text on page Differentiating on the materials used and the tactile nature of the design successfully differentiates this company and its products from its many global competitors Consumer Reports, 38, For many companies the augmented product forms the most successful revenue stream of all.
Orchestrating all of these potential revenue strategies as part of the marketing strategies take a strong focus on how well each product line is orchestrated across the broad spectrum of needs met.Marketing: OXO OXO is a design company whose mission is "OXO is dedicated to providing innovative consumer products that make everyday living easier." OXO was established by Sam Farber in to develop the Good Grips range of comfortable, easy-to-use kitchen utensils.
Farber's inspiration to establish OXO was due to his wife. For OXO kitchen gadgets, the most prevalent marketing strategy is to advertise through digital media. The marketing mix There are four parts of the marketing mix: price, place, promotion and product.5/5(1).
This sample paper explores the marketing strategy of this kitchen utensil brand, OXO, and discusses the advertising techniques used by the company.5/5(1).
OXO on its part has been on the forefront in developing marketing strategies that incorporate utilizing all social media websites to market its products. In the wake of . View Lindsay Mecca’s profile on LinkedIn, the world's largest professional community.
Lindsay has 9 jobs listed on their profile. See the complete profile on LinkedIn and discover Lindsay’s Title: Director of Brand Communications . OXO Kitchen Gadgets – Developing Marketing Strategy on a Budget Term Paper Introduction The traditional market has undergone many changes in the recent past.
At present, every participant in the market, including buyers and sellers, are experiencing the most radical changes than ever (Martin, ). The product market is more .