Higher-Education Faculty

Assignment Cover Sheet

Subject	Marketing Management
Subject Code and Group	HI5004_______Group-269
Lecturer	Huong Do
Assignment Title	Group assignment- Semester-Long Marketing Plan Project
Due date	08-05-2020
Submission Date	06-05-2020
Contact details	Student’s name	KIRANDEEP KAUR
Telephone No	0413485407
Student Email:	Mcc3046@my.holmes.edu.au

STUDENT/S PLEASE NOTE: I/We certify that:

1. This assignment is my/our work. I/we acknowledged and disclosed fully any assistance received in its preparation and cited any sources from which I/we used data, ideas, words, either quoted directly or paraphrased.
2. This assignment was prepared by me/us specifically and only for this subject.
3. This assignment has successfully been submitted to the FINAL CHECK via SafeAssign/Blackboard and the SafeAssign report is attached to this assignment. ►Student name: KIRANDEEP KAUR Signature: KIRAN
4. This assignment is identical with the work submitted via SafeAssign/Blackboard.

Student name/s	Student number	Signature
SUNAINA VAID	CWM3018	SUNAINA
RAJINDER KAUR	MCC3045	RAJINDER
SUKHPREET KAUR SIDHU	AZZ30022	SUKHPREET

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Contents

Introduction…………………………………………………………………………………….. 3

About the Product…………………………………………………………………………….. 4

Competitive Information ………………………………………………………………………5

Environmental Scanning ………………………………………………………………………6

Demand Forecasted……………………………………………………………………………..7

Specific Market Segmentation, Targeting and Positioning Statement…………..7

Conclusion ………………………………………………………………………………………….8

References……………………………………………………………………………………………9

INTRODUCTION

This report will provide information about a new product being launched in the market. Every year, tonnes of new products come into existence and few of them become extremely popular and last for numerous years in the markets. Before launching a product in the market, it is especially important to analyse the necessity of that product among people. It is well said that necessity is the mother of invention, same as with the invention of a new product and service. When, the necessity is recognised, then comes the features and its operational style. (Adam, Mahrous&Kortam, 2017) If something remarkably close substitute is already exist in the market, then it is desirable to analyse the competitive edge of that product. It is the rule of marketing to examine all potential aspects of markets that can affect the life of product and service in the market. These aspects could be internal and external depending on the type of product.

ABOUT THE PRODUCT

Microwave for cooling will be our product to launch in the market of home appliances. It is a product by MATRIX. It is a small microwave with reverse operations. Instead of heating food, it will cool down the hot food into chill food in minutes or seconds. How often we find it awkward that guest comes at home and there is no chill beer, wine or normal soft drinks. There must be a solution to this problem encountered at our homes. As we have microwaves for heating up food, we must have something to cool down food as well. JUNO microwave for cooling is the new product to provide solution to this necessity.

COMPETITIVE INFORMATION

Competition is natural process which occur between same type of things whether they are living products or non-living products for their survival in the world. Competition encourages companies to provide more better and quality products in markets. It is useful for both companies as well as consumers. (M2 Presswire, 2017) With respect to microwaves, there are thousands of types of microwaves available on shelves of market as well as online. But reverse microwave is completely a new product in the market. There are few products available, which are:

Fregolas: This is US based company which is still waiting for green signals from the food regulatory to launch its reverse microwave. It costs around $1,000.

V-Tex: It cools down the food, but not with electric current. It uses fluid dynamic instead. So, it does not fall in reverse microwave category. (Noble Ant, 2019)

As, we can see there is no big competition to JUNO REVERSE MICROWAVE now. But as we all know, when a new product comes in the market, it no longer remains new and only solo product, there are companies which try harder and launch substitutes in the market sooner or later. So, we can assume that soon there will be substitute available for this product.

There will be another especially important aspect of reverse microwave that will affect its competition to great extent, that will be its cost. Juno reverse microwave is available at $299. Which is extremely hard to be beaten up by any other company.

Environmental Scanning:

Environmental scanning is a tool for collecting, sorting, examining, converting and disposing information about internal and external factors of a company in terms of its survival and competency advantage in the industry. There are some important internal and external factors which affect the productivity of a company. (Helms& Nixon, 2010)

As for JUNO REVERSE MICROWAVE, SWOT examination investigate following viewpoints:

Internal environment

Strength:

The principal quality of this hardware is that it will productive for cooling nourishment and beverages. Moreover, it is a new development in the market. Regardless of whether it is new in the market however it is anything but difficult to utilize. The ‘chiller’ utilizes a thermoelectric cooling motor that twists water around the drink at fast, quickly diminishing the temperature of the can. Therefore, it can ‘quickly cool your beverages, without the utilization of noisy blowers or hurtful synthetic refrigerants.’

Weakness:

The first and the preeminent weakness of this item is it can chill off one item at once. Moreover, the size of this cooling microwave is large when contrasted with little operations. What is more, the cost of this creative innovation is far high when contrasted with ordinary microwaves.

EXTERNAL Environment

OPPORTUNITIES:

There is no substitute available in the market. Therefore, it is the only product of its type. As it is the single product that can be used for cooling eatables and drinks so there is huge potential of its growth.

THREATS:

Imitation is easily occurred thing in the markets, so there are chances to get photocopy product launching soon. Simultaneously, competitors can rise easily as market is full of technology and innovation.

Demand Forecasted:

According to above conversation, it tends to be evaluated that its interest would be on higher side, which can be seen through the surveys of its starting advertisements. Additionally, request is related with following focuses:

. Power proficient

. Capable Material

. Less tedious.

According to client’s audits, interest for this item would be extremely less. Notwithstanding, its utilization would have been had unfavourable impact on showcase. In the beginning, item was in climbed up request. individuals cherished it in its manner due to its assembling, working and specialized use. According to the present circumstance, it tends to be evaluated that individuals would not pick it as their inclination or suggestion. A large portion of the populace requesting their discount who had just arranged however have not gotten it yet due to COVID-19. individuals cannot get their item because of deferred conveyances. As per the examination on reviews, the request of this item can be going down in the market (Juno – Like a Microwave for Cooling, 2020).

Specific Market Segmentation, Targeting and Positioning Statement:

Matrix utilized crowdfunding stage Indiegogo to offer the gadget for pre-deal and has made over £100,000 in the initial not many days since the crusade went live. Costs extending from £153 for a solitary unit focused on ‘prompt riser purchasers’, up to £7,600 for retailers hoping to purchase 50 Juno chillers in one go. Juno can likewise be utilized to make ‘frosted’ renditions of hot beverages, for example, tea or espresso. However, the last boxes will be produced using hardened steel and high evaluation plastics, as per the organization. They will likewise highlight a LED light to tell clients when their beverage is prepared. Meng He, VP of items for Juno, told the BBC that Juno could be utilized to supplant smaller than normal bars in lodgings and is substantially more vitality effective than an ice chest. It is at prototype stage and can just cool each standard soda can in turn, yet designers would like to have a business rendition accessible soon (Morrison, 2020).

Conclusion:

As the compartment itself is kept still, the substance will be prepared to drink when it comes out of the machine and will not ‘bubble up’ and, as per Matrix. A 12 oz container of brew or soft drink will chill in about a moment, as per designers, and a 25oz suppress of white wine will take to five minutes to chill to the suggested 50 degrees Fahrenheit. The final boxes will be produced using tempered steel and high evaluation plastics, as per the organization. Not all things need to be a piece of the web of things, there are different viewpoints we acknowledge about the Juno other than its science. Therefore, the machine has no touchscreen, no application, no Wi-Fi. This is an aftereffect of warm designing and material science, it is unadulterated power based, there is no natural mischief. The Juno will accompany custom tumblers, which will probably appear as though your standard travel mugs. It could even prompt bigger scope proficient fridges. We will check whether the Juno, or different gadgets, will take us there.

References List:

1. Adam, S., Mahrous, A.A. &Kortam, W. 2017, “The relationship between entrepreneurial orientation, marketing innovation and competitive marketing advantage of female entrepreneurs in Egypt”, The International Journal of Technology Management & Sustainable Development, vol. 16, no. 2, pp. 157-174.https://search.proquest.com/docview/1955461093/94B13409291D480APQ/1?accountid=30552

2. “CES 2020: Juno ‘reverse microwave oven’ cools drinks in seconds” https://www.bbc.com/news/av/technology-51028494/ces-2020-juno-reverse-microwave-oven-cools-drinks-in-seconds

3. Helms, M.M. & Nixon, J. 2010, “Exploring SWOT analysis – where are we now?: A review of academic research from the last decade”, Journal of Strategy and Management, vol. 3, no. 3, pp. 215-251.https://search.proquest.com/docview/758229537/778610ACBC2D4ECDPQ/1?accountid=30552

4. Indiegogo. 2020. Juno – Like A Microwave For Cooling. [online] Available at: <https://www.indiegogo.com/projects/juno-like-a-microwave-for-cooling#/> [Accessed 5 May 2020].

5. M2 Presswire, Business Intelligence Market – Competitive Landscape and Future Scope Analysis to 2025 2017, Coventry.https://search.proquest.com/docview/1918227981/A02802047B9A4BD9PQ/1?accountid=30552

6. Morrison, R., 2020. Amazing ‘Reverse Microwave’ Can Chill Your Beer In Under A Minute. [online] Mail Online. Available at: <https://www.dailymail.co.uk/sciencetech/article-7868589/Amazing-reverse-microwave-chill-beer-minute.html> [Accessed 5 May 2020].

7. Noble Ant Staff, June 14, 2019, “What is Reverse Microwave”, NOBLE ANT. https://nobleant.com/2019/06/14/what-is-a-reverse-microwave/

8. https://www.mirror.co.uk/tech/reverse-microwave-unveiled-can-chill-21238281