Marketing Plan: Phase III
March 26, 2014
Marketing Plan: Phase III
House plants are looked at in by most as decoration in their homes. The Filter Factory Outlet Store is now bringing this product more attention on the specifics of what they will do for your indoor air quality. Pricing this new product is important to the company because it is sold virtually everywhere. Providing the education is the key to higher sales of plants in the Filter store. Product
According to "Mother Nature Network" (2014), “there are several house plants that are used in the space station to filter the air” (Best air-filtering houseplants, according to NASA). The selection of product from the Filter Factory Outlet Store came with much research as to the best plants to take out the most common pollutants in our indoor air. Some of the pollutants found inside your home are formaldehyde, benzene, toluene, trichloroethylene, and xylene. Formaldehyde is found in common cleaning products, toilet paper, tissues and personal care items. It is also found in new carpets and car exhaust. Benzene is found in glue, paint, plastics and detergents. Toluene is found in paint thinner, silicone sealants, adhesives, lacquers, and disinfectants. It can also be found in octane booster for gasoline. Trichloroethylene is found in dry cleaning. Xylene is found in solvents used in leather, rubber and printing industries. Peace Lilly’s are one of the most highly recommended from NASA. This plant takes out formaldehyde, benzene and trichloroethylene. It can also combat toluene and xylene. Some other recommended plants are the Devil’s Ivy, better known as the Money Tree, Variegated Snake Plant, or Mother-In-Law’s Tongue, Red-Edged Dracaena, and the Barberton Daisy known also as the Gerbera Daisy. All of these plants take out all 5 pollutants as well and also recommended by NASA. Product Life Cycle
As listed by Perreault, Cannon, and McCarthy (2011), the product life cycle consists of 4 stages, introduction, growth, maturity, and decline (p.257). The new product of air-cleaning plants for the Filter Factory Outlet Store has been introduced and sales have been made. Instead of advertising this new product through mass marketing, individual sales are being made on in the field as technicians are selling and installing filters. This introduction makes much more sense as this is a secondary product that is widely available elsewhere but just marketed for different reasons and purposes such as ambience or decoration. By introducing this product in the field, a customer is confronted with a wonderful addition to their clean air needs and giving the opportunity to buy right now with the promise of care and support of their investment. This prevents them from simply getting air-cleaning plants elsewhere. Growth
The disadvantage of this approach is that it allows slow growth of the product. But slow growth allows for inventory and support of the product to grow at pace. This is an advantage because the sales of the product will help to grow the production and lessen to starting cost of the product. Currently the Filter Factory Outlet Store is the only air filter retailer offering air-cleaning house plants, so the product idea growth will be slow-going. The Filter Factory Outlet Store caters to loyal customers and recurring business and this is the best target for the new product. Maturity
The new product will reach maturity when a large portion of filter customers have air-cleaning houseplants. Before and during maturity, it will likely be necessary to make changes to the product, since plants are plants and you cannot change how they work or what features they have, any changes will be to the support of the plants, or the way in which they are marketed. It could be that perhaps, most customers can take care of their plants well enough and don’t need any support or a competitor may offer the plants at a lower price. A big...
References: Perreault, W. D. Jr., Cannon, J. P., & McCarthy, E. J. (2011). Basic marketing: A marketing strategy planning approach (18th ed.). New York, NY: McGraw-Hill Irwin.
Product Differentiation. (2014). Retrieved from http://www.investopedia.com/terms/p/product_differentiation.asp
Product Positioning and Differentiation Strategy. (2014). Retrieved from http://smallbusiness.chron.com/product-positioning-differentiation-strategy-5078.html
Product Positioning Strategy. (2014). Retrieved from http://smallbusiness.chron.com/product-positioning-strategy-3350.html
Best air-filtering houseplants, according to NASA. (2012, November 30). Retrieved March 24, 2014, from Mother Nature Network: http://www.mnn.com/health/healthy-spaces/stories/best-air-filtering-houseplants-according-to-nasa
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