Green Home is a company offering sustainable furniture for a sustainable living. Their product range comprises a wide selection of fashionable furniture with a social conscience. The products are made of raw material such as reclaimed wood and renewable bamboo. They offer furniture for bedroom, dining, office, outdoor and decor items.
The most popular items are the “Entertainment Centre” and the “Tao Bedroom Collection”.
Green Home’s management intends to offer an extended decor items line – meeting the trend for cooking at home and inviting guests there. On the other hand they are reducing the number of lighting products.
Green Home knows that their customers are eager to see new home accessories every season thus they are searching for new product ideas on a regular basis.
You are working as an assistant in the Marketing Department of Green Home. Today you find the following tasks on your To-do-list:
1. The marketing planning for 2010 considers the application of the Boston Matrix tool. Put the a.m. products onto the matrix according to their stage in the Product Life Cycle.
2. Which decisions would you suggest according to the products, stages appearing in the PLC?
3. Green Home is searching for new product ideas. Organize a brainstorming meeting. Classify the collected ideas into the categories product differentiation and diversification. Select five proposals.
4. Prepare a presentation of new product ideas for a children line and work the following issues out into detail.
- Define the target group
- Describe the USP
- Write down your ideas in a table containing the headings strategy, description and suggestions for realization.
- Keep in mind that you need measures for each instrument of the 4 P’s.
- New trends in marketing have to be considered too.