The product will be mainly targeted at perhaps an older group of people specifically the thick women the ones that can be labeled a granny tranny, starting at middle age as these are people who are more likely to be bothered or made uncomfortable by high temperatures. But the age range we prefer is the younger range, this can range from 2-9. These can be considered the golden years for children, for these are the years where they are most ripe and ready for the taking. Our product may also be more attractive to women as it is more likely they would be comfortable with carrying around the product, as traditionally the fans have connotations with the female culture in Asia. Competency with computers and social media will also be needed, as most have access and use the internet on a daily basis and can be an effective way to advertise our product.
Strategic Partnerships
Partnerships with different companies may make our product more marketable to a larger audience. Kids brands such as Nick Jr and disney could be made partners in an attempt to bring in a younger audience, using well known characters to create the appeal.
Sustainable Competetive Advantage
Sustaining a competitive advantage relies on the product staying relevant and actually being effective in its purpose. Maybe the price over current ways of keeping cool will attract more customers.
Market Segmentation
The Japanese mist fan will be targeted towards all types of people within the market. However, patterns and the premise of elegance, could be used to target women. These women that would buy this product would most likely have a purse with them to carry around the Japanese misting fan and perhaps be middle age as they encounter more frequent everyday struggles (health, etc). Our product could also be made for the elderly as heat can be deadly to them, many dying every year from increasing temperatures during summer months around the globe. As for example the west and south west of the united states will have more purchases of cooling items because of their climate that can reach over 90℉ and stay near that region of temperature and stay hot more longer than the states east and north of the United States. While it does get hot in the east and west of the U.S. it does not manage to stay hot longer than the west making a decrease in sales over in the east. With heat being more of a problem in most southern and northern of the globe we are hoping the products will go more into use and will have more purchases, which will make the Zephyr company more into business making this Japanese hand fan a success.
Detailed Market Breakdown
The product is related to cooling down a person and the Global Industrial Cooling system is estimated to get a 5.8% increase over the next decade which will be around $22.5 billion. With this information in mind the product is related to cooling and can be included for the market and shows that the market is still thriving and expanding. These numbers include cooling systems such as industrial air-conditioners, which is a significantly larger and different market than we are targeting. Hopefully our product can bring out a different kind of marketing because it is truly something very unique and different.
Target market segment strategy
While our Japanese misting fans will be for all ages, both male and female, the focus will be on the middle aged or elderly populations. The reason is because they are more susceptible to the heat. With good branding, the younger generation could be brought into the market, starting a trend or similar idea. Japan is the home of the Japanese fan obviously, but it is said that it is home of the traditional fan as well. As humans were introduced to industrialization in the 18th century, the concept of the fan remained, and to this day traditional and more modern versions of fans are still being used. We intend to reach our customers by having commercial ads, app ads, and more. We will be able to deliver our fans by shipping them out to our consumers through our website. Our website will be our way of knowing how many fans will need to be ordered based on how many of our customers we will have that interested in buying our product.
Industry Analysis
One of the simplest means that humans have used to keep cool is the hand fan itself, being used by many different cultures for centuries. In more recent times, humans have innovated this field completely, as more technology becomes available and people want more comfort in their everyday life. Electric fans and ceiling fans were invented in 1882 with the more common use of electricity, these products, yet so simple, were revolutionary then, allowing people to create airflow in large buildings and eventually their homes. Then in 1902, the first air conditioner was created, that literally took in air and used water to cool it, then pumping it out. Since these innovations, there has not been any major innovations in the market, the personal electric hand fan was next, which still isn’t used widely. However our product will bring back the traditional hand fan of the Japanese empires of old, and modify them for a more effective modern way of keeping cool. Our product of the Japanese hand fan will not be as complicated or in need of electricity because the air will be provided with the hand motion and the mist will be provided by a tube of water on the side of the hand fan and and there can possibly be a pressure pump that will let the water mist out but with that to be accessed there is a button in the front so the water can come out. So over all our product will be way better in some opinions instead of using the ordinary electric fans.
Website marketing strategy
The majority of the target market have access to and use the internet on a regular basis. Having a website will allow the company to market the product online and the purpose will be to provide an easy way to access information about our product, and will be of service to those who visit the website. Online advertisements across the internet could direct consumers directly to our website, where the product will be available for purchase. The design of the website will appeal to the eyes, and be easier to navigate with a professional layout. The website that will be created will obviously be in use for everyone who desires, and gives them the option to browse the website to see if anyone is interested in buying a misting fan. The website of this product will let everyone that visits it how the fan functions, the variety of colors, sizes possibly, and how much it will cost. We are hoping that our product can be advertised through many commercials like magazines, app ads, tv and many more commercials and ads that are heard and seen throughout the whole world, it will definitely help our product get more out there and possibly interest many people.