21 Mar For this first assignment, please provide at least a 250 to 500-word overview of your new product or service (note that when the term product is refer
For this first assignment, please provide at least a 250 to 500-word overview of your new product or service (note that when the term product is referenced, it includes referencing all services for this class and this assignment).
Include the following:
- The entire product, how it works, what it is used for, and why someone would buy it. Include a production plan, whether there are parts, who will assemble them, where production will occur, and how the products will be shipped.
- Product design, including product line, options, benefits, add-ons, sizes and shapes, and technology features.
- A picture – hand-drawn, photoshopped, or stock image is allowed; remember to reference the website, application, or source of the picture if you do not draw it yourself.
- Chart of Features: When buying any electronics, you get a breakdown of the internal features you would not necessarily think about when buying a product. For example, An LG OLED TV with 8 million Megapixels will have a better picture than a Samsung UltraHD with 4 million Megapixels.
- Customers, Consumers, Users, and the Target market will be the people buying the product, who will use the product, who wants to use the product, and who you will target when advertising the product. Example: Most breakfast cereal is targeted at children as consumers, even though the parents do not want them to eat the sugary cereal as the customers. Thus, the parents only buy the product because it saves them time and an argument with the kid to eat breakfast, and it is cost-effective compared to other breakfast foods.
- Instructions on using even a cereal box say to pour in a bowl and add milk if you like. Remember maintenance instructions like wash on cold, do not leave in the sun, or refrigerate after opening.
- Innovations being utilized or tested, and any recycling, reusing, or repurposing involved with this step, such as 50% of the material comes from recycled products.
New Product Marketing
Sofia Gullpa
Managment
Professor Perez
February 25, 2025
SmartGrip: Adaptive Ergonomic Kitchen Utensils
Introduction
SmartGrip is an ergonomic kitchen utensil for people with arthritis, limited hand mobility, or grip fatigue. The key features of the utensils include pressure-sensitive handles, which are adjustable to match a user’s grip. The features make it possible to help reduce the number of trains and enhance comfort. This differs from typical or traditional ergonomic tools since SmartGrip dynamically adapts in real-time to improve ease of use and accessibility.
Market Analysis
The global kitchenware market is growing Based on its growth dynamics and demand for accessibility-focused products. Elderly people, especially those with arthritis and caregivers, are the target customers. Key competitors like OXO Good Grips and Adaptive Eating Utensils also offer static designs (Statista, (2023). Nevertheless, SmartGrip’s technology gives it a unique advantage. Manufacturers of food-safe silicone and smart sensors suppliers and retailers are different from online stores to specialty kitchen stores.
Competitive Strategy
SmartGrip aims to get a 5% market share based on accessibility needs. The promotional efforts include two joint efforts with arthritis organizations and influencer ownership. Pricing will range from $20 to $50 per utensil. Awareness and adoption will be done via direct-to-consumer marketing and endorsements from healthcare professionals.
SWOT Analysis
|
Strength · Exceptional adaptive handle technology · The increase in the market for accessibility tools · Possible healthcare collaborations. |
Weakness · Greater costs of productions · Reduced recognition of the brand · Demands for the consumer education |
|
Opportunities · The growth in the aging population · Potential for the insurance subsidies · Opportunity to expand into commercial kitchen |
Threat · Competition from the existing brands · Resistance from the smart kitchen tools · Challenges with the supply chain |
SmartGrip’s breakthrough aligns with the increasing demand for inclusive or accessible kitchenware. Through strategic partnerships and targeted marketing, it will overcome consumer education barriers and production costs to be established as a leader in the adaptive kitchen tools.
References
Statista. (2023). Kitchenware market size worldwide 2018-2028. Retrieved from www.statista.com
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