The Micro Fridge Concept

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Deograsius Ssesimba Case study, MicroFridge; The Concept The Microfridge, Is a devised electronic circuitry that shuts off power to the refrigerator whenever the microwave oven is switched on and pulls less than 20 amps of current, is a 1+1>2 device which can offer those who are in concern of using electronic appliances safely like college students and retailers a safer, more convenient and inexpensive combination of microwave and fridge. For college students: Exclusivity: This microfridge is meant for individuals they own this during their study period. It helps them to get free from dependency on college mess. They need not to stick to college timings to care for food. They can have any food at any time of their own choice.…show more content…
If these all were put individually they would have consumed three times space. How should Bennett price the MicroFridge? This can be answered by looking at the background and target consumers of the company and the SWOT analysis. First off, Microfridge is innovative and creative idea. This is so as it manages to save the power efficiently, while the idea could easily be imitated. Companies like General Electric, Amana and other big domestic appliance manufacturers as well as the venture investing firm in Boston refuse to support Bennett because they think the idea owns a small market prospect and it worth little investment. But Samsung Electronics and Sanyo Electric are willing to discuss terms for offshore manufacture provided. Bennett himself resigned his job as a Boston computer salesman and sold their vacation home and other assets to go all out to forward his new concept, still Bennett is inexperienced and the quality of the product is uncertain. His target consumer, like the school authorities and the appliance retailers, does not feel like buying his concept. Target consumers and the condition now: Students in the college. Most students (up to 52%) are likely to accept an increase of $75 per year to use a Microfridge, and at $50 per year the interest level is 90%. But the authority suspects the quality and the security of the product. The distribution channel for Microfridge was direct as customers

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