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No longer will the words Honey I think I left the stove on be uttered Abstract As the firm continues its introduction of the latest innovation in cooking products development - the GE Range Safety Sensor - General Electric GE must determine the viability of the product in the existing household appliance market To accomplish this GE will conduct various forms of marketing research Marketing research is the process of defining a marketing problem and opportunity systematically collecting and analyzing information and recommending actions University of Phoenix 2006 To begin marketing research for the GE Range Safety Sensor GE attempts to identify the target market understand the buyers consumers purchasing decisions and analyze the current competitive landscape Target Market The GE Range Safety Sensor is a specialty item that would be incorporated into GEs existing and upcoming line of household cooking ranges for a small additional charge The sensor would appeal to residential homeowners currently using or considering the purchase of gas or electric range units The target consumer falls within the middle to high income demographic and values safety in the home possibly due to the presence of young children Of this demographic 217 were born between 1965 and 1976 while 162 were born between 1936 and 1945 Both of these age groups will be buying major appliances due to the starting of new careers growing families or upgrading of existing appliances within the household Lets Talk Business 2002 Location of the target demographic is global however initial focus will begin primarily within the United States through major appliance retailers such as Sears A smaller secondary target market will consist of households with individuals that have special disabilities such as memory deficits cognitive disorders visual deficits or auditory impairments Buyers Consumers When customers buy products or services they are essentially purchasing a set of benefits to meet their needs and expectations - known as the concept of product or
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