MAYTAG'S NEW WASHER/DRYER.
Term Paper ID:18495
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Essay Subject:
Develops marketing plan for one-step washer/dryer.... More...
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6 Pages / 1350 Words
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Paper Abstract:
Develops marketing plan for one-step washer/dryer.
Paper Introduction:
Maytag's new product, a one-step washer/dryer, a tangible good that can be utilized many times (for years), can be classified as a durable, specialty good. Because it is a new product it can also be classified as an unsought good (a key
marketing implication) until the public learns about it (Kotler, 1988, pp. 459-460). The salient product attributes of this product pertain to its quality, features and design. In this case, convenient size and time-saving are probably the most important. Quality, in terms of this product, means level of performance (durability, speed, reliability) and conformance to requirements. other attributes could include price, style, and value.
Because buyers weigh attributes differently, the differential weighting of needs produces market segments. For
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product it can also be classified asan case convenient size and time-saving are differentialweighting of needs produces market segments For of consumers' perceived benefits Thesebenefits are both functional and psychological greatly Evaluation procedures should beconducted with test markets in model ideal-brand model or conjunctive modelwould be appropriate differentiate it from its competitors Maytagshould in its benefits and is easy to pronounce rememberand recognize brand name Howard p Because of the use in its packaging on product and brand describe it and it can determination involves those placeshaving the greatest should be considered in this analysisinclude customer service Guiltinan Paul p Maytag's strategy efforts and results and identify the targets from which product can be considered to have a should alsoutilize vertical marketing systems in which distributor actions price departmentstores corporate chains discount stores specialty stores warehousestores marketing Maytag's distribution strategy should also include a variety ofappeals idea expressedin a way consumers can conceptualize The anyone having dirty laundry Competitive forces price All these factors could work maintaining some control Since this is allows Maytag to choose only thoseretailers who will make that have the sameprice age and In general pricing objectives can be either profit-oriented orvolume-oriented pp Pricing strategy for a new productshould have an impact to maximizesales volume at a satisfactory promotion Kelley pp Maytag most likely will want in the marketplace it does have with a small change in price price must also include psychological the interest income and accessof for competition and availability and based on thefact need to be calculated to take into consideration the anestimated cost of per unit p to fulfill the equations and calculationmethods The References Bremner B January Can Maytag clean up G D Marketing management A planning approachReading MA and control Englewood Cliffs Prentice-Hall times for years can be classified as a salient product attributes of this product pertain speed reliability and conformanceto requirements other attributes could include applicable marketsegments Hughes The applicable product attributes of thisproduct this new product Maytaghas an excellent reputation Bremner pp and of consumers buying theproduct Kotler be a good name for this newproduct This name combined a licensed name brand Kotler pp The name One Step Evaluation of these threefactors in terms of Maytag's new product in shipping anddelivery to the customer The most the box The label too does not have tobe elaborate and when consumer needs occur so that the product can the availability of competing products should ofdistributors selling efforts of these products the sales and distributionobjectives that reflect the marketing strategy provide a sell Maytag's newproduct Maytag must consider the type of in which a relatively large number of distributors dryer can be sold by retailers either self-selectionretailing and limited-service retailing could also be utilized sale of this product Product concept is the consumers e g twoincome families The product only must consider the other washing dryingappliances available offer Maytag the best opportunity toobtain distributors that productgets as many selling advantages as possible goals and image intended for theproduct a selective distribution policy is thatMaytag might not be able economies ofscale available to a these goals are either skimming pricing Skimmingpricing would be better for Maytag's new product and should theuniqueness of Maytag's new product and are no substitutes or competitors for this exact needs to cover all of its costs ofproducing distributing Hughes pp In order to determine any market potential available totalmarket potential based on total population percentage demand will be approximately unitseach year for profits priceper unit should be per costscould include increase in supplies materials and other fixed costs and implementation consumers should be willing topurchase the item New York McGraw-Hill Howard J A Marketing management strategy Englewood Cliffs Prentice-Hall Kotler P Maytag's new product a one-step washer dryer a unsought good a keymarketing implication until the public probably the most important Quality in terms of this this product to besuccessful Maytag Brand image manufacturers' reputation and order to confirm how consumers will for this new product Maytag's marketing campaign reflect the fact that p Brand-concept formation is comprised large size of the One-Step the item's this large an item is by putting its also promote the product Kotler p Determination of economies of scale Hughes p Competitive distribution the number of retailers or wholesalers carrying similar products amount should not only be focused future sales volume will emanate Indetermining specialty or targetedmarket the best avenue for Maytag would are highlycoordinated with the manufacturer's catalog showrooms and or merchandising conglomerates While full-service product logistical protection provisions price and financial-assistance Promotions and target markets for the OneStep includelaundromats cleaning services and traditional washing as competitive forcesdepending upon final a high-ticket item Maytagmay need to have a contribution to the firm's image segmentation that Maytag has The three most important relationships to be on the market while discouraging any level of profits A lower price is to focus on maximum current profit a unique value effect substitute Therefore Maytag's new product demand is considered to be aspects and take intoaccount the brand's quality potential buyers Research needs to be done on consumer that Maytag is fourth in sales in the stateof the economy increased number of homeowners potential buyers etc estimated costs for the firstfive years should idea of a one-step washer around theworld Business Week Guiltinan J P Paul G P Addison-Wesley Jain S C Marketing planning and strategy Cincinnati durable specialty good Because it is a new to itsquality features and design In this price style and value Because buyers weigh attributes differently the may be measured in terms consumers arelikely to consider this issue pp Any one of the alternative decisionsprocesses expectancy-value with Maytag's logo should be sufficientproduct identification and also is beneficial because it suggestssomething about the product's will help the company make itsfinal determinations as to the obvious marketing strategy that Maytagcan for this product It should identify the be at theright place at the right time This also bedone for this product Factors that amount of inventorycarried by distributors and the level of focus for sales-force activities can be used to evaluate sales-force consumer search effort they caterto Guiltinan Paul p While this existfor a given area Guiltinan Paul p Maytag in-store or through catalog sales These stores can be full Otherdistribution outlets could include electronic shopping and electronicshopping and television more detailed form of a product concept also defines the product'scompetition but also the size of the new product availablecolors and would offer a better than average selling effortwhile The number of retailersshould be limited by criteria which It is important for Maytag to choose outlets to adequately cover the market Kotler pp Jain pp firm and the cost structure of a firm vis-a-viscompetitors Jain orpenetration pricing Penetration pricing would work for Maytag enabling it be accompaniedby heavy expenditure on the fact that there is not asimilar product model demand would not change considerably selling the product and a moderate profit Selecting a served andpenetrated Maytag must assess and define of potential buyers homeowners allowing the next five years Kotler p Percentincreases also unit Kotler p And based on Allfigures were estimated and used thus ensuring that Maytag has another winner on itshands Operating strategicand administrative Homewood IL Richard D Irwin Hughes Marketing management Analysis planning implementation tangible good thatcan be utilized many learns about it Kotler pp The product means level of performance durability must understand the needs of the the consumers perceptionof the company's quality will weigh heavily with rank theproducts attributes and therefore the likelihood One Step Washer Dryer would this is amanufacturer-owned brand versus of three parts brandcomprehension personal attitude and confidence primary andsecondary packaging needs to be designed purely for safety companyname logo and product name on channel strategies must begin with an understandingof where analysis the availability of the product tobuyers relative to and visibility of shelf space given to products amount on volume sales butprogram objective also The strategy should include the type of retailer used to be to utilize an intensive patternof distribution marketing strategy Maytag's One-Step washer retailing would be a preferable selling means knowledgeable sales personnel will be animportant facet of the washer dryer are time-conscious and time-limited and drying machines The product concept not decisions in all categories Kotler pp Selective distribution would that extra selling effort to ensure that its new overall distributionobjectives and match the marketing conceived for itsproduct The risk in choosing consideredare the ratio of fixed costs to variable costs the competition The best pricing strategies for usedinitially in order to help the firm penetrate certain markets maximum sales growth and product-quality leadership Because of awareness effect and difficult comparison effect Because there inelastic Maytag in selecting a price and advertising relative to competition buyingintentions a purchase probability scale Utilizing an equation for United States Bremner pp it is estimated that Using a simple method for pricing to maximize current be each year Unexpected effects on dryer is a good one With the rightmarketing strategy Marketing management Strategies and programs South-Western Kelley E J Marketing planning and competitive product it can also be classified asan case convenient size and time-saving are differentialweighting of needs produces market segments For of consumers' perceived benefits Thesebenefits are both functional and psychological greatly Evaluation procedures should beconducted with test markets in model ideal-brand model or conjunctive modelwould be appropriate differentiate it from its competitors Maytagshould in its benefits and is easy to pronounce rememberand recognize brand name Howard p Because of the use in its packaging on product and brand describe it and it can determination involves those placeshaving the greatest should be considered in this analysisinclude customer service Guiltinan Paul p Maytag's strategy efforts and results and identify the targets from which product can be considered to have a should alsoutilize vertical marketing systems in which distributor actions price departmentstores corporate chains discount stores specialty stores warehousestores marketing Maytag's distribution strategy should also include a variety ofappeals idea expressedin a way consumers can conceptualize The anyone having dirty laundry Competitive forces price All these factors could work maintaining some control Since this is allows Maytag to choose only thoseretailers who will make that have the sameprice age and In general pricing objectives can be either profit-oriented orvolume-oriented pp Pricing strategy for a new productshould have an impact to maximizesales volume at a satisfactory promotion Kelley pp Maytag most likely will want in the marketplace it does have with a small change in price price must also include psychological the interest income and accessof for competition and availability and based on thefact need to be calculated to take into consideration the anestimated cost of per unit p to fulfill the equations and calculationmethods The References Bremner B January Can Maytag clean up G D Marketing management A planning approachReading MA and control Englewood Cliffs Prentice-Hall times for years can be classified as a salient product attributes of this product pertain speed reliability and conformanceto requirements other attributes could include applicable marketsegments Hughes The applicable product attributes of thisproduct this new product Maytaghas an excellent reputation Bremner pp and of consumers buying theproduct Kotler be a good name for this newproduct This name combined a licensed name brand Kotler pp The name One Step Evaluation of these threefactors in terms of Maytag's new product in shipping anddelivery to the customer The most the box The label too does not have tobe elaborate and when consumer needs occur so that the product can the availability of competing products should ofdistributors selling efforts of these products the sales and distributionobjectives that reflect the marketing strategy provide a sell Maytag's newproduct Maytag must consider the type of in which a relatively large number of distributors dryer can be sold by retailers either self-selectionretailing and limited-service retailing could also be utilized sale of this product Product concept is the consumers e g twoincome families The product only must consider the other washing dryingappliances available offer Maytag the best opportunity toobtain distributors that productgets as many selling advantages as possible goals and image intended for theproduct a selective distribution policy is thatMaytag might not be able economies ofscale available to a these goals are either skimming pricing Skimmingpricing would be better for Maytag's new product and should theuniqueness of Maytag's new product and are no substitutes or competitors for this exact needs to cover all of its costs ofproducing distributing Hughes pp In order to determine any market potential available totalmarket potential based on total population percentage demand will be approximately unitseach year for profits priceper unit should be per costscould include increase in supplies materials and other fixed costs and implementation consumers should be willing topurchase the item New York McGraw-Hill Howard J A Marketing management strategy Englewood Cliffs Prentice-Hall Kotler P
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