Product Offering
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Product Offering
Kachong Duniya, Sami Berrahou, Saad Benchekroun, Jennifer Watkins
MKT571
March 1, 2011
William David Hawkins
Product Offering
Learning Team B decided to follow an innovative route to produce cookware. The number of cookware brands seems to be increasing every year and the range of pots and pans materials vary from cast iron, copper, stainless steel, and aluminum. Currently, trends in the cookware industry are usually positioned and situated by what consumers are buying. Trends follow the consumer's wants and interests based on demand, supply, and purchasing power of consumers. Recently, there are a few shifts in the consumer market that has pushed cookware to implement better technology and innovation. This paper will elaborate our Team’s proposal towards our new cookware product and its market needs. In the following sections, we will discuss the market growth, provide a SWOT Analysis, and analyze the competition. We will also provide the product offering/product definition, explain the product identification, and finally justify our choice of this specific product.
Market Analysis
Market Needs
The needs of the international market are difficult to analyze. Customer expectations have lived through all kinds of issues dealing with product and service quality. Induction cooking has seen an increase in the past year due to its highly safe and energy efficient nature as well as its’ advanced technology. The burners do not get hot; only the pan is heated which allows for far less energy to be used. Not to mention the increased safety of not having hot burners that can burn both children and adults as well. The induction cook-tops are replacing electric and gas stoves throughout the market and are also gaining popularity as society is becoming more efficient. Every year new materials are being developed and used in cookware design and manufacturing. Even though stainless steel is highly durable, it is also used for its high shine bringing...
Product Offering
Kachong Duniya, Sami Berrahou, Saad Benchekroun, Jennifer Watkins
MKT571
March 1, 2011
William David Hawkins
Product Offering
Learning Team B decided to follow an innovative route to produce cookware. The number of cookware brands seems to be increasing every year and the range of pots and pans materials vary from cast iron, copper, stainless steel, and aluminum. Currently, trends in the cookware industry are usually positioned and situated by what consumers are buying. Trends follow the consumer's wants and interests based on demand, supply, and purchasing power of consumers. Recently, there are a few shifts in the consumer market that has pushed cookware to implement better technology and innovation. This paper will elaborate our Team’s proposal towards our new cookware product and its market needs. In the following sections, we will discuss the market growth, provide a SWOT Analysis, and analyze the competition. We will also provide the product offering/product definition, explain the product identification, and finally justify our choice of this specific product.
Market Analysis
Market Needs
The needs of the international market are difficult to analyze. Customer expectations have lived through all kinds of issues dealing with product and service quality. Induction cooking has seen an increase in the past year due to its highly safe and energy efficient nature as well as its’ advanced technology. The burners do not get hot; only the pan is heated which allows for far less energy to be used. Not to mention the increased safety of not having hot burners that can burn both children and adults as well. The induction cook-tops are replacing electric and gas stoves throughout the market and are also gaining popularity as society is becoming more efficient. Every year new materials are being developed and used in cookware design and manufacturing. Even though stainless steel is highly durable, it is also used for its high shine bringing...