Existing Market- #1- The next step for the ColdCase would be to pursue a contract with major sports teams in the NFL and NBA to bring an extended range of branding to the ColdCase to create a greater sense of individuality and mass customization to the ColdCase.
#2- I was unable to perform interviews for this assignment due to the Coronavirus.
#3- As I was unable to perform interviews, based on previous interviews for past assignments I believe it would make the most sense to prioritize more mass customization options such as the previously mentioned sports contract to bring more personality to the ColdCase and allow consumers to feel a greater sense of ownership of the ColdCase.
New Market- #1 To expand the market of ColdCase I would like to introduce it to a global market and sell the product in many different foreign countries as I believe that this need could also remain unsatisfied in foreign markets as well as the domestic market.
#2- I believe that the ColdCase will be able to create value for foreign markets as the feeling of disappointment when you open your refrigerator to enjoy a particular meal and finding it has been taken is not limited to the domestic market as the many more individuals across the globe could have the same desire to see this need fulfilled.
#3- I was unable to perform interviews for this assignment due to the Coronavirus.
#4- While it would be very difficult to introduce the ColdCase to a global market I believe the increase in revenue due to the vastly extended range of the product would prove to be worth the cost of expanding the product. After reconsidering the product for this assignment on second thought it might be better to target particular counties with similar lifestyles to that of the United States, such as the United Kingdom and other European countries as I am not sure how well the ColdCase would fit in with different ways of life.
I think that mass customization is a good next step to take. Since you already have the product laid out the way you want it, the next logical step would be how can I make it perfect for each customer which would be to tailor it to their liking. This I'm sure would be costly, but it would all depend on the amount of money, staff, and actual customers you have to make it work.
ReplyDeleteHi Aaron,
ReplyDeleteI think that you did a great job nailing the expansion of not only your initial product but also the entrance into a new market. The plans and projections were well thought out and seems like a great next step for the product. Even though we could not go out and do interviews, the possible next steps were insightful.
Hi Aaron,
ReplyDeleteGood Ideas on ways to expand your product into a new market. I also think your idea of customization is a great idea and will definitely attract customers to your product. Having ambitions of expanding your product globally and making it known amongst households around the world is definitely a great goal. I think this could be achievable through hard work and drive.