Beds N More Case Study
The introduction stage is when a product has just been released after developing and testing. Sales are often quite low to begin with and may increase only quite slowly. SuperBed’s introductory stage will be about 1 year, as people will still be getting the hang of the product and what the overall goal of selling the product is. The growth stage, depends on the promotional strategies that the company uses in order to get their product out there, this stage leads the product to the next stage, business owners wish this stage could last forever, as their sales grow significantly if the product is effectively promoted. SuperBed’s growth stage will last 2 years, as people start to recognize the product and the idea behind it, sales start to grow leading it up to the maturity stage. At the maturity stage sales don’t grow significantly, but they don’t decline much either, this stage can last for years, take Coca-Cola for example, the consumers by now are fully aware of the product and its cause. (Stimpson & Farquharson, 294). SuperBed’s maturity stage will last around 4 years, this will change if they upgrade the current product or any other strategy that will help keep this product in the mature stage. The decline stage is when sale decline steadily, this is because either no extension strategy has been tried, or the product has become so obsolete that the only option is …show more content…
To help our overall charity-type program be conveyed around the public, we’ll rely on word of mouth, which will be originated by customers that are enthralled with our mission, and are motivated to spread the word, this will attract new customers as they’re mostly positive reviews conveyed. Place
The distribution is the last of the 4 P’s of the Marketing Mix, but apart from that it is still very important, as its essential to find ideal locations in order to convert potential customers. Beds N’ More is a wholesaler, selling to retailers, our company has its SuperBeds made by a producer in China, which has very cheap production methods, and reasonable shipping prices between the US and China.
Beds N’ More sell their SuperBeds to retailers like REI, Bass Pro Shops, and Sports Authority, these are large, well-known stores that attract the perfect customers for our products, selling to these retailers give us an automatic sales boost as the stores are so regularly visited by consumers in our market.
Our channel of