Product Offering
- Submitted by: jack3mia
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- Category: Other
- Date Submitted: 05/16/2010 04:05 PM
- Pages: 6
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Product Offering
Our objective is to create a product that we can market utilizing the concepts learned over the next several weeks. To start, we had to consider our population and the potential for our products acceptance in the market. Understanding the market need is the first action necessary when deciding to launch this product and considering all of the potential challenges and opportunities that may accompany it. According to the article by Fuchs et al (2010) “it is not the company that determines the specific designs to be marketed but rather its customers.” We had to determine the potential for consumer interest.
Market Needs and Market Growth
Customer expectations today have surpassed many trials and tribulations dealing with products and services. My team and I are proposing to introduce a new product called Thermo Express. This is a thermos that can brew coffee and tea on the go. The back chamber of the thermos holds the coffee or tea bags while it drips into the bottom compartment. The two main advantages of this product is that it’s green, meaning it’s good for the environment and will eliminates the excessive use of cups and perishable items. Secondly, due to the economic state, people can really save money by using this and not constantly buying coffee or tea bags. The Coffee and Tea Market has been a fast growing business and continues, even in the recession, to climb new heights.
There is said to be 45 nations today that export coffee and 32 that import which is a large amount. “Coffee is one of the most valuable primary products in world trade, in many years second in value only to oil as a source of foreign exchange to developing countries. Its cultivation, processing, trading, transportation and marketing provide employment for millions of people worldwide. Coffee is crucial to the economies and politics of many developing countries; for many of the world's Least Developed Countries, exports of coffee account for a...
Our objective is to create a product that we can market utilizing the concepts learned over the next several weeks. To start, we had to consider our population and the potential for our products acceptance in the market. Understanding the market need is the first action necessary when deciding to launch this product and considering all of the potential challenges and opportunities that may accompany it. According to the article by Fuchs et al (2010) “it is not the company that determines the specific designs to be marketed but rather its customers.” We had to determine the potential for consumer interest.
Market Needs and Market Growth
Customer expectations today have surpassed many trials and tribulations dealing with products and services. My team and I are proposing to introduce a new product called Thermo Express. This is a thermos that can brew coffee and tea on the go. The back chamber of the thermos holds the coffee or tea bags while it drips into the bottom compartment. The two main advantages of this product is that it’s green, meaning it’s good for the environment and will eliminates the excessive use of cups and perishable items. Secondly, due to the economic state, people can really save money by using this and not constantly buying coffee or tea bags. The Coffee and Tea Market has been a fast growing business and continues, even in the recession, to climb new heights.
There is said to be 45 nations today that export coffee and 32 that import which is a large amount. “Coffee is one of the most valuable primary products in world trade, in many years second in value only to oil as a source of foreign exchange to developing countries. Its cultivation, processing, trading, transportation and marketing provide employment for millions of people worldwide. Coffee is crucial to the economies and politics of many developing countries; for many of the world's Least Developed Countries, exports of coffee account for a...