IntroductionCompany G is a green initiative company that is primarily focused on the health and wellness of society and how to live a more relaxed life while helping to reduce the abuse of natural resources and the waste we produce. While we are beginning our processes for invention one product we would like to start with is the “motion sensor lotion bottle” this would be used primarily by massage therapist and estheticians who need ease of access to lotions and creams without contamination of product to their clients.Mission Statement“We enable consumers to improve the quality and convenience of their lives by providing innovative electronic green solutions.” The Product The motion sensor lotion bottle supports our green campaign by reducing the amount of waste that is overall exceedingly increased by the salons and spas nationwide as well as internationally. We can help reduce the waste by providing reusable, energy efficient and cleaner approach to retrieval of the products that are used by all who work in this industry.
The product will have the ability to be portable for the therapist that needs mobility or stable for the esthetician that needs consistency of knowing where the product is at all times. Having charging stations will allow the portable units the time needed to recharge for the next day’s usage while the stable units will have a timer on their usage of electricity. By using the charging systems we enable the limited use of batteries as an additional expense saving the industry excessive costs and backing our product with a warranty. This will also help to support Company G’s overall mission of promoting green.Consumer Product ClassificationThe motion sensor lotion bottle is a specialty classification product. While the market that will utilize this specialty product is limited, it will provide consumers with a convenience factor that is currently not being addressed in this industry.
By identifying this as a specialty product, we will use our brand recognition to assist with sales and promotion while building additional reputation in new markets that currently aren’t familiar with our brand name. This item borders a convenience offering, but, due to the nature of how specialized the target market is classification as a specialty offering is necessary. This could also fall under a shopping offering, as some consumers may shop around for other options that might be more cost effective, but once quality is demonstrated through product exhibits at trade shows they will be able to better ascertain their commitment to this eco-friendly, cost effective resource.Target MarketThe target market for our product will be hospitals, MD Clinics, salons, spas, independent owners/operators of salon clinics, massage clinics, Physical therapy clinics, sports medicine, Athletic trainers, schools that educate health related professionals and various other health related professionals. The purpose is to provide a small appliance that is earth friendly, while convenient to use and maintains the health of their consumers by reducing the areas that are touched by the health care professional which will overall reduce cross contamination. These professionals are looking for ways they can reduce the potential for cross contamination and keep employees and consumers safe.
We provide this solution as a cost effective alternative that will overall impact their bottom line.Competitive Situation AnalysisAnalysis of Competition using Porter’s 5 Forces Model Competitive Rivalry, while we at Company G are aware that other companies have designed and are marketing products similar to ours, the variation lies in our product design. We are using rechargeable and renewable energy sources that may be preferable for the potential buyer. If a salon that is built around solar power our product adapts to meet this requirement.
If they are using less energy to be efficient we offer timers that shut off use of electricity after charging is complete to reduce consumption. This puts Company G in line for direct competition with all potential rivals. Threat from new entrants is possible, but as we are protecting our ideals with patents then we reserve certain intellectual rights over the product.However, new companies may develop something similar and we are prepared to address and adapt our product as necessary for any new information that we gain.
Our current best resource is monitoring the internet for potential leaks of product information as well as the research and development of new products being tested. Threat from buyers exists solely on the product itself. As we are offering a warranty to support the product, this is reduced, however, the target market is sometimes skeptical in trying new equipment such as this. We will run beta test groups at reduced rates in exchange for marketing with their brand testimonials.
For example, if we get Massage Envy Clinics to endorse our appliance line then others health clinics will start looking to buy this appliance. Threat from suppliers is minimal overall. There is the exception of renewable energy sources. Moreover the solar charging systems may fluxuate in cost efficiency as the economic markets shifts with all the new eco-friendly information that we are utilizing. However, we are not producing as many of our solar options just yet that will be an even more specialized product for the specific buyers that may need such an option.At this time the impact is low but we are watching costs and will plan accordingly by purchasing supplies as we notice reduced pricing.
Internet use of alternative energy sources will greatly impact the cost of product resources we need for production. At this time the costs are steadily declining, and forecasted to stay this way, but we are monitoring. Threat from substitutes currently doesn’t exist since we currently hold the patents for this product. This is being monitored by our research and development team for any new or like-minded products that appear.SWOT AnalysisThe SWOT analysis, has given us valuable information to support our decision in production.
We have identified our weaknesses and are working to isolate these to overcome any obstacles so that we can build the best product at the best prices and meet client needs for a greener option.StrengthsThe strengths that we have identified are Company G’s brand recognition. We stand out in the market as the leader of appliances and have a following based on the list of products we already produce. Low cost for production is also a strength as well as a core competency.
We have built the business around a low cost because we utilize the most resources purchased and have very little waste. This initiate by Company G has been a defining factor for all our practices and to enable us to go green. Company G also has a reputation with our suppliers that is above and beyond the normal. We have a very low debt and this has assisted us in developing relationships that will guide our products into the every changing market place while gaining new supplier relationships as well. This has also been a core competency of maintain relationships with our suppliers that go beyond. Having these relationships we ensure a stable work environment for us as well as them.
WeaknessesOur first weakness is integrating new suppliers. While we have a very good relationship with suppliers, we now are developing relationships with new suppliers for products that are not our normal purchases. While this weakness is present now, it is one that can be overcome. The second weakness would be assessing our profit potential. While the market is expanding we need to isolate and train our staff to understand who are target group is how their business lays our budgets and how we can market effectively to them to ensure profits.
The final weakness is the potential for limited supply of the new component parts that are required for final production of the appliance. While we have built the prototypes and know in advance what parts are needed, the integration of the new suppliers understanding our supply/demand structure could be a weakness that could delay production.OpportunitiesSome of the opportunities are the potential for global recognition and expansion once the identity of our brand and product become more main stream. This will happen across the health care professionals that we are marketing to as they train internationally. Also, a shared knowledge of products and appliances used to ease their work will expand our word of mouth recognition.
Next generation buyers are very eco-friendly and socially conscience of how their products are delivered. This upswing is bringing to light the opportunity for growth potential that is expected to tip the scales in our profits. As our society is becoming more aware of health care and related issues, our appliance provides as economical solution that ensures their needs be meet in a way they haven’t been able to address up to this point. We can help raise awareness and offer solutions.ThreatsThe threat of an international company being able to produce a like product for a cheaper cost is a viable threat at this time. We are monitoring all internet activity that surrounds prototypes of like appliances and doing what we can to isolate the field as we can.
Maintaining new technologies and supplies to meet the demands of the product will help us to be the consistent provider as we have the better built product by not reducing our product design to short change the appliance and deliver the best product we can. The next threat is marketing around budget development for health care professionals. How do we introduce our product at a cost effective approach to gain momentum until we can get mass product recognition? Identify companies that are willing to try for a reasonable cost and offer incentives for using their brand in our advertising.An additional threat is the current economic stability of the health care industry.
With the changes that face cost and reimbursement dollars, companies are looking at ways to reduce expenditures. While we can overall save them money this is how we can market to them the savings that can be achieved by using our appliances as well as the overall health and safety for their clients, reducing their risk for cross contamination.
