Oxo’s Marketing Strategy STUDENT ID Section NUMBER University NUMBER INSTRUCTOR’S NUMBER Introduction OXO is a New-York based company that deals with Cooking tools, Household cleaning tools, Baby and toddler products, Bath cleaning tools and accessories, Bar ware, Storage and organization products and Office products…
For the purpose of this essay, this market shall be segmented demographically. The main segments will include age, life-cycle stage, and occupation. During its conception, Oxo was focusing more on kitchen appliances this ranged from kitchen knives to more complex appliances, like the good grip peelers. As such, its first major customers were the chefs and other cooks. This market even today comprises of the base of the business. This sector is the single most profitable aspect of the OXO business. With time, Oxo started venturing into other markets including office supplies, Medical devices, and children products. Because of the fact that it had already established itself in the market as a firm that produces high quality goods, the consumers welcomed it in the already saturated market. Oxo also focuses on the older generation of citizens. These seniors, who have been afflicted with various diseases such as arthritis. They find the gadgets easy to use and form a huge part of the target market, as well. Question 2 For many years, OXOs value proposition has focused on the Quality of the products rather than the price. Loyal customers indeed attest that the price they pay for the products, though slightly higher in most cases than the competitors is worth the quality of products they purchase from the company. This value proportion however, is the same as that of the other competitors in the business. The public war between Quirky and OXO over a patent is evidence of this. This is because both were after the quality of the products sold to customers. Question 3 Oxo has developed its products over the years so that they are very different from their competitors. The core customer value is the most basic level. In this case, the products are designed in such a manner that they are able to fulfill the tasks for which they are needed. In the next Level actual consumer Product, the products are designed in such a manner that they are stylish, unique, and aesthetically viable. A good example is their grip line. For the third line, that is, augmented level, Oxo provides after sale services for their products. It is worthwhile noting that their products are serviceable, and the company can give this service to customers. They also give warranties on their products and provide shipping and delivery through their online stores. This makes it easy and convenient for their customers to access their goods. It is however, recommended that the company provide the service, repair services more frequently, and establishes a program whereby the customers with old products from the company can be able to swap them or upgrade them in accordance to the change in times instead of having to purchase new items. Question 4 After manufacture, OXO distributes the finished products using various platforms to the end consumer. Apart from the sale through the traditional retail shop methods, OXO also sells the products online through Amazon or its own Website (www.oxo.com). Therefore, it is evident that OXO uses an intensive distribution strategy in the sale of its products. Question 5 With the view of the competition that Oxo is facing, and the ever-growing demand for its products, it is evident that the pricing is just right. If the company priced their products any lower, the consumers would take that as a compromise on quality while raising it would lose the loyal customers. Oxo’ ...
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