needs does MicroFridge meet? What value does it create? For whom?

Write a
sentence, a “user benefit statement,” that sums up
the essence of what Bennett isoffering, and makes it clear who is his target
market.MicroFridge meets the need for hot, freshly cooked food and
preservation of foodwithin a single compact microwave/refrigerator/freezer
unit. The value addition in thisinnovation is its current-limiting safety feature
(up to 10 amp), which would help ensuresafety from fire as well as other
electrical hazards that any electrical equipment withoutthis feature is prone to.
It creates value for college students who wish to have fresh food
within the comfort of their dormitories, but aren’t allowed to cook within the
pre
misesdue to the strict college policies. It also creates value for other
consumers outside thecollege limits.
In a single sentence, Bennett’s offering can be described as:
 
“
Cook your food fresh or store it for future relish, Microfridge is a device that
studentsand adults alike will cherish.
”
 2.
 
How should Bennett price it?Domestic appliance manufacturer Sanyo is willing to
supply the finished product toBennett at $263.00 per unit. Bennett should price
it based on the additional premiumthe students are willing to give for the extra,
safe features that MicroFridge offers, andalso on the return he wishes
to obtain.3.
 
How should he communicate with his key marketplace decision makers to move
themfrom awareness to interest to purchase?First of all, he should hire an
advertising agency to create innovative advertisements forhis product to create
awareness amongst the public that there exists a product calledMicroFridge. He
should visit various dealers and distributors in the areas close to wherehis
prospective market exists (college-going students) and promote the USPs of
hisproduct. Once sufficient interest has been generated, he can trigger the
prospective
buyers’ interest first purchase by adding certain promotional offers like dis
count for first100 customers, complementary product offers with MicroFridge
etc.4.
 
Think about channels of distribution. Could he sell direct through a sales force,
and / orthrough distributors and/or retailers? How should he do that?a.
 
Bennett can utilize direct door-to-door selling effectively in the initial stages,
withproduct demonstrations, in order to increase the visibility of MicroFridge
as well asmake the consumers aware of the excellent features of the product.
As discussed inthe case, most people are apprehensive of buying a new
innovation because of theuncertainty of its success, and hence showing live
demonstrations can significantly
increase people’s chances of buying it.
 b.
 
Bennett can also have tie-ups with a few established distributors and set up
smallshowrooms within their premises to display MicroFridge.