Nest Learning Thermostat

6540 Words27 Pages
August 17, 2012 Executive Summary Economic turmoil has influenced a society where saving money is a top priority for every household. It is estimated that over 50 percent of a household energy bill is derived from the heating and cooling system; however, cutting edge technology has produced a heating and cooling system that can improve efficiency and result in a cost reduction in the overall household energy bill. Nest Labs, Inc. believes they have a solution with respect to energy and money conservation. The value proposition of the Nest Learning Thermostat states it can improve efficiency and reduce household energy bills up to twenty percent (Nest, 2012). After analyzing the various elements of marketing and their influences, it…show more content…
Promotion Nest Labs, Inc. has multiple partnerships with the Apple Store, and Lowe’s Hardware stores to promote the Nest Learning Thermostat. As the product is growing, multiple Best Buy and local retail store locations are also promoting the sales of this product. The New 4P’s People Tony Fadell, Co-Founder and Chief Executive Officer, earned his Bachelor of Science in Computer Engineering from the University of Michigan, previously worked for Apple and Phillips Electronics as well has authored over 100 patents. Matt Rogers, Co-Founder and Vice President of Engineering, earned his Bachelor of Science and Master of Science degrees from Carnegie Mellon University and previously worked for Apple. Alongside Tony Fadell and Matt Rogers, many other employees play key roles in the success of the company. Processes The Nest Learning Thermostat is creative, disciplined, and has structure. Nest Labs, Inc. has created a breakthrough product; professionally marketing manages this product through a structured website, and has created mutually beneficial long-term relationships with multiple sources. A few of these relationships include: Google Ventures, Shasta Ventures and intertrust (Nest, 2012). The company has complied with all of the strategies behind processes mentioned in Kotler and Keller’s book, Marketing Management (Kotler & Keller, 2012, p. 25). Program Kotler and Keller define programs as all consumer-directed
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