Therm-Eze: A Case Study: Baby Boomer
Therm-eze
Executive Summary
Title: The positioning of a product that is new to a market that is rather quite old.
Date: February 12th, 2008
Type of Summary: O Action O Discussion O Information
Identification of Problem:
Therm-eze, a reusable heating pad, had its distribution rights given to Mr. Mark Tanner who decided recently, after much consideration, that he wanted to manage this innovative product.
Although this product offers something very different and beneficial to customers, there are still many major factors to consider in terms of competition and what market segment to go after.
Major Problem- to develop a successful strategy in market that is currently outdated and unchanged.
Organizational Objectives:
The …show more content…
This being said however, as a company that is first starting out we will be unable to target both retailers and medical industries at the same time, at least for the first few years, because it is very expensive and would require more assistance.
Baby Boomers who wish to be doing less babying and more booming.
The demographic of baby boomers consists of a large group who want to live their life to the fullest, they have retirement plans of traveling the world, spoiling their grand children and buying the luxury items they have worked so hard to deserve. They are not going to "admit" that they have to deal with aging problems, but at the same time are not willing to turn down help with problems that are slowing them down.
If targeting this market, the product would benefit from appearing to be an arthritis aid, which can be easy to package since they have not yet designed anything. By approaching the market through retail there is a continuous flow of interested consumers, and financially much larger in scale.
Executive Summary
Title: The positioning of a product that is new to a market that is rather quite old.
Date: February 12th, 2008
Type of Summary: O Action O Discussion O Information
Identification of Problem:
Therm-eze, a reusable heating pad, had its distribution rights given to Mr. Mark Tanner who decided recently, after much consideration, that he wanted to manage this innovative product.
Although this product offers something very different and beneficial to customers, there are still many major factors to consider in terms of competition and what market segment to go after.
Major Problem- to develop a successful strategy in market that is currently outdated and unchanged.
Organizational Objectives:
The …show more content…
This being said however, as a company that is first starting out we will be unable to target both retailers and medical industries at the same time, at least for the first few years, because it is very expensive and would require more assistance.
Baby Boomers who wish to be doing less babying and more booming.
The demographic of baby boomers consists of a large group who want to live their life to the fullest, they have retirement plans of traveling the world, spoiling their grand children and buying the luxury items they have worked so hard to deserve. They are not going to "admit" that they have to deal with aging problems, but at the same time are not willing to turn down help with problems that are slowing them down.
If targeting this market, the product would benefit from appearing to be an arthritis aid, which can be easy to package since they have not yet designed anything. By approaching the market through retail there is a continuous flow of interested consumers, and financially much larger in scale.