External Business Proposal



External Business Proposal

Introduction

The selected situation is that of LLC, Torres Inc. The owner Lori Torres has come up with a new refrigerator technology known as Hydrotemp-K. It is efficient and does not use any toxic materials. Also, the product can last longer. However the market is not much responsive to the product as yet. The overall product manufacturing material and marketing is complex as the technical product and require an aggressive effort from the part of the company.

Proposed Solution

Technological innovations, especially their marketing, are now recognized as the key to the future prosperity of the industrial companies in the industrialized world. In the new economy, firms most successful are those that create new models - the ideas which flow from new revenue streams based on technological changes, demographic profiles and habits (Kotler, Amstrong, Garci´a, Benassini, 2001, 52). The new models destroy old. That is why the creation of new models of- decision is a threat to all traditional businesses. Lifecycle management strategies were never so short and the market leadership has counted for so little. Efficient marketing strategies enhance the lifecycle model therefore, For the marketing of an efficient technology like this new refrigerator, it is advisable for the company to follow these steps:



Positioning the Product

The development of the products that fulfills the technology demand of people put the company on a road to success. Differentiating the company and product for a competitive niche is definitely a necessity. However, it is easy to identify a need than to identify an opportunity.

Firstly, Torres needs to analyze the position that she wants o give to the new product; for example, either she wants the product to be perceived as a sophisticated done, an energy efficient, a socially responsive, or user friendly. Such positioning can be set by keeping in view the benefits that the precut brings, for example, in the case of Hydrotemp-K, there is a less use of energy therefore it can be positioned in the eyes of customers as a user and environment friendly product. It is up to the company about how it wants the product to be seen by the consumers.

The new technology products are not usually sold door to door by the sales people. If they were sold in that way, with all the companies trying to sell their products, there would have been a stream of customers walking in and out of the corporate office and no corporation would ever get any work done, the company blocks access from the marketing machine (Bearden, Netemeyer, Haws, 2011, 9-11). The technology companies do not dial the mobile numbers and hold the telemarketers at a side by putting their phones on answering machines.

Creating Awareness

After setting the product positioning, the next step is to create awareness among the consumer about the product through the preliminary promotional strategies. In the beginning, the paid articles, emails, and blogs. Torres Inc can have consumer data from the customer profiling companies. This data will enable collecting information about the ...