Essay Example on Folding into Comfort: Proserve Corporation's Innovative Chair Solutions

Product and Place

Fictional Company Proserve Corporation is vital in ensuring that it secures a competitive advantage in the marketplace. The company desires to satisfy the customer needs in the market by innovating new products to fill the gaps in the market. The company has recently invented foldable chairs that can be carried using one hand and hold up to 300 pounds. The company expects the demand for the product to be high and will increase the company's sales.

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Quality

Several aspects make the product have a high demand in the market. The chair is foldable, and it can hold a weight of up to 300 pounds. The feature shows that the product is of high quality. The chair has a high-density sitting cover; hence it is comfortable to sit on when relaxing or working.

Design

The chair is foldable; hence one can fold it into a smaller square when storing; therefore, it uses small size at a store. Secondly, the chairs have different colors. The various colors will attract many customers.

Style

In the market, there exist both plastic and metal chairs. The option of buying either of the two types lies in the customer. Metal chairs last for a long since they are not easy to break. Moreover, the plastic chairs are washable; hence they can be cleaned regularly.

Features

The chairs in the market are of different sizes; hence all people can sit on the chairs. The chairs also have straps that tie the chair after folding, thus decreasing the risk of breaking. Foldable chairs are also easy to carry on one hand hence their convenience in transporting from one place to another.

Benefits.

The foldable chairs require little space when storing and when arranging. The unfolding of the chairs also increases the sitting space hence creating more comfort. Lastly, it saves customers money because they are durable.

Product Line Depth.

In a particular product line, the number of products refers to the product depth. The company has created the foldable chairs' product depth to widen the customer base and satisfy many customers. The company divides the foldable chair category into; residential chairs, hotel chairs, and office chairs.

The Four P’s

Product is the tangible item that will attract and satisfy customers when taken into a market. Preliminary research needs to be done before developing a product to identify the product's benefits and potential purchasers. The company's product is foldable chairs.

The second P represents the actual price that the users will pay in the market. The customer's value perception of the product will determine the price of the product in the market. Besides, other factors will determine the product's price, such as the cost of production, substitute prices, competitor's prices, and the markup index of the company (Resnick et al., 2016).

The third P represents the place of selling the product and the distribution channels that are convenient to the customers. The company needs to identify the best location for selling foldable chairs. The correct identification of the place will lead to high sales of the product. Besides, the right distribution channels will satisfy consumer needs and will make the customers purchase the foldable chairs. Wrong identification of the place will lead to the collapse of the business.

The fourth P refers to the promotion means that will create awareness of the product's existence in the market. Promotion strategies include the advertisement of the foldable chairs through social media. Moreover, direct selling of the products to the users is also a convenient promotion (Heckman et al., 2018). Lastly, discounts and special offers to the users will also promote the product in the market.

Product Branding Elements

Brand identity is the first product branding element. The brand identity differentiates its product from the competitor's products (Kladou et al., 2017). The product's brand name is a fictional folding chair, and the product has the company's logo.

Secondly, the brand image is another element. The brand image describes the customer's perception of the folding chairs (Musari and Ayo, 2019). The company's folding chairs have a comforting idea; hence customers expect maximum satisfaction from the product.

Thirdly, brand positioning is another significant element. The fiction folding chairs are high quality and expensive to target the customers in the middle and top status quo.

Fourthly, it is the brand personality. The brand personality defines the design of the foldable chairs. The chairs have plain colors and a decent logo to attract adults.

The last branding element is product differentiation. The foldable fiction chairs have straps that tie the sit during storage. The competitor's chairs have no straps.

Packaging Strategy

The foldable hotel chairs are packed in red polythene wraps. Further, the residential chairs are packed in white polythene wraps while the office chairs are in black wraps. The packaging in different polythene wraps will ease selling.

Distribution Models

The first distribution model is the direct selling of the chairs through the sales representatives. The representatives sell the chairs to the end-users in the markets. Secondly, the company uses wholesalers to reach its users. The company sells the products to wholesalers at discounted prices.

Advantages of Intermediaries.

The first advantage is that intermediaries are cost-saving. The company is not involved in direct selling of the product to end-users hence fewer salespersons.

Secondly, intermediaries cover a wide area; hence they are more accessible to the end-users. Logistical support leads to many sales.

Disadvantages

Intermediaries lower the profits of the manufacturer. The intermediaries mark up the products before selling them to end consumers (Mauro et al., 2018).

Secondly, intermediaries may ignore the company's products. The ignorance may lead to fewer sales compared to what the manufacturer would make through direct selling.

Effective Retailer

The best retailers for the products are warehouse retailers. The reason is that they reduce the operational costs and hence sell the products to customers at lower prices. The efficiency in running the operations at warehouses leads to the success of the business.

Effective Distribution Channel

E-commerce is the best distribution channel for foldable chairs. E-commerce occurs online hence saving the cost of constructing many storage facilities and recruiting many salespeople. The distribution channel is also easily accessible to many customers.

Reference

Heckman, P. E., Vestergaard, A. J., & Sole, K. M. (2018). Guiding principles model: A call to integrate the 4 p's into a strategic construct. Journal of Marketing Development and Competitiveness, 12(4), 60-68.

Kladou, S., Kavaratzis, M., Rigopoulou, I., & Salonika, E. (2017). The role of brand elements in destination branding. Journal of Destination Marketing & Management, 6(4), 426-435.

Mauro, P. A., Daltoé, K. K., da Costa Lopes, J. R., d Albergaria Freitas, F., & Almeida, V. M. (2018). Cervejaria Noi: brewing a go-to-market strategy. Emerald Emerging Markets Case Studies.

Musari, A. A., & Ayo, M. F. (2019). Product Branding on the Effectiveness and Performance of Manufacturing Industry. Business Management and Strategy, 10(2), 181-198.

Resnick, S. M., Cheng, R., Simpson, M., & Lourenço, F. (2016). Marketing in SMEs: a “4Ps” self-branding model. International Journal of Entrepreneurial Behavior & Research.