Standard Version – sleek black design weighing less than 5 pounds for the consumer’s convenience.
Garden Version – nestled in the bottom of a modern center piece available in a variety of arrangements.
Nature Version – cleverly placed in the base of a fake palm tree that appears as though the company personally picked each tree out of the Caribbean.
The Techie Air Purifier by Company G is classified as a shopping offer. Consumers will take the time to shop around and compare this product to other similar products. Company G has designed TAP to deliver the best results at the most affordable price.
The specific marketing group that Company G will focus on will have these characteristics:
Persons with allergies, breathing conditions, young children, and elderly adults.
(Psychographics and Demographic segmentation)
Geographically located in areas with high pollen or high pollution.
Health conscious persons looking to improve quality of life.
Making more than $30,000.00 annually.
Competitive analysis has been done using Porter’s 5 Forces Model. The following sections depict the findings of the model used:
Competitive Rivalry Competitive rivalry will be sustainable for Company G. Company G will continue to remain competitive through the use of innovation.
Threat from New Entrants The threat from new entrants is low risk due to the patents currently held by Company G. Company G has established brand equity and developed customer loyalty which is enough to persuade the majority of consumers to purchase TAP over substitute brands. TAP will be available for purchase online to curb any threat of new online entrants as well.
Threat from Buyers There is a moderate threat from buyers that occurs due to the availability of substitute products. Buyers have the ability to negotiate with several companies based on price but limited companies can offer the quality, and customer loyalty that Company G has established. Company G also has a well-developed distribution plan that offers fair credit to its intermediaries. Threat from Suppliers Due to the products being standardized the threat from suppliers is low. Company G can chose any supplier that fits their needs as there will be plenty of suppliers willing to accommodate their needs.
Threat from Substitutes Although substitute products are readily available for TAP, many companies are not prepared to compete with the quality and convenience TAP offers. Although some consumers will be persuaded with the low cost of substitutes, the majority will be drawn to purchase from Company G due to brand equity. The patent that TAP obtained for the filter less technology will also ensure that Company G offers the most convenience for the consumer. This makes the threats from substitutes a moderate risk.
SWOT Analysis is a