Managing New Products and Services Case Study: Children First Ltd

Furniture and equipment should be flexible and open-ended. It should be easy to rearrange the room to respond to children’s needs and interests. Movable platforms, risers, large hollow blocks, movable tables, boxes, large pieces of fabric, clothespins, and other open-ended materials give children opportunities to arrange spaces to suit their needs. They enhance children’s imaginative play; provide opportunities for

new products and or a service. Marketers explore ways to distinguish themselves, in the eyes of

In past and recent reports experts tell us that this is accurate and they rely heavily upon trendsetters to popularize new brands for them so that they are successful because often times this can either make or break a company. Now a days marketers are using crafty strategies to win over the hearts of young kids. In today’s youth the age group that market consists of includes kids which are age 6-9 years old, tweens which are 10-13 years old, and teens that are 14-18 years old. For example The

3. Repeat the Question 2 analysis, but now assume that the new marketing program is implemented.

3. The marketing strategy of company is not so convincing because they can extend their product range with good

The services and products offered by IKEA provide value to its customers in various ways. For one, the products and services are very affordable. The products and services are not priced highly and therefore, the average customer can enjoy them. At the same time, the products are of high quality. From IKEA’s slogan “low prices but not at any price”, it is clear that the company prices its products lowly but that does not mean that the quality is compromised. IKEA satisfying its customer’s needs through providing them value for their money as they provide quality products that will last for a long time, and at affordable costs. The fact that the company has set the minimum acceptable standards for its wood, implies that it is also keen on quality and on the environmental impact of its action of making furniture ( Edvardsson, Enquist & Hay, 2006).

C. How did this affect the product’s marketing mix price, promotion, packaging and distribution decisions?

Explain how your product differs in terms features, function, quality, price, availability, brand image, etc. Explain why this differentiation is important to your customers.

To the buyers, there is little difference in the products except for things like price or guarantees, etc.

The second target segment is School Children. School children are a very important as children have a large proportion of family expenses (Pewa, 2016). Children often present large brand loyalty (Lamb, 2016). It is believed that children will constantly request a good or service from their parents. Often children might see a product advertised by sporting star and will have an instant connection and want the good or service (MH Practise, 2016).

The Canadian furniture market has brought success to IKEA Canada due to the high quality and low priced “quick-assembly” furniture designed by IKEA’s European engineers. However, this success brought many imitators. Sears Canada has recently published a new catalogue that includes a new line of furniture called “Elements”. The new line of furniture very much resembles IKEA’s knock-down, self-assembled line. IKEA is facing an imitation threat and should tactically respond to minimize its effects.

CFL lightbulbs entered the market at an expensive price, yet the consumers continued to purchase them. Knowing the bulbs “paid for themselves,” the tradeoff was worth it. They used 75% less electricity than incandescent bulbs, lasted 10 times longer and emitted 450 pounds fewer greenhouse gasses. In previous years consumers relied on incandescent lights that were reliable and much less expensive than CFLs. CFLs were backed by utility companies that also wanted the product to be a success, which was obvious through their coupons, trade-ins and price promotions. Aside from the many benefits CFLs offered to consumers, market research showed there were misconceptions that caused hesitancy in consumer adoption. The original product had problems such as light flickering and buzzing, needed continual usage to result in energy savings, could not be used with a dimmer, and recycling the bulbs was not convenient as special measures were needed to dispose of the bulb.

If PLP Ltd was to introduce a new product into a new market segment I

The minimalist design of low cost DIY concept does not appeal to everyone. IKEAs target market is young and time conscious customers who also want convenience and may think the time involved in buying and assembling furniture is too much. This means that IKEA loses potential furniture consumers especially in countries where demand of quality products is high. People may view the DIY furniture as of lower quality and kind like the ones one would buy at target.

Buying nursery furniture and then decorating a kid’s bedroom to perfection is a highly pleasurable option to look forward to for every parent. Much time is consumed for decorating the many nooks and corners of a modern home this space is one which requires a substantial time to be designed. Buying children’s bedroom furniture and designing the room satisfactorily can turn out to be a tricky business. But these are not so big a challenge to be afraid of, especially when the end result is going to be a sweet one.