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OXO Kitchen Gadgets : Developing marketing strategy on a budget - Essay Example
Author : hartmannderon
Pages 3 (753 words)
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. ...