Pricing Strategy

The Smart Fridge is going to be a high price, high quality item that makes owning one make an individual feel prestigious. The estimated cost to make one of these smart fridges will be $25,000 with all the advanced technology that will be incorporated in it but as technological advancements continue to grow, the price will slowly fall. The price to an individual trying to purchase one of these Smart Fridges is $40,500. Which seems like a lot of money but when you are a well off individual that sees the benefit it could have for the environment and the amount of money you could save annually, it doesn’t seem as bad.  When an individual purchases a smart fridge, they purchase the prestige of owning a product that many people can’t afford. Like purchasing the Ferrari of refrigerators. That along with the environmental benefits and excellent support offered through our company, our customers will see where their money is going.

Supply Chain Strategy Our product will be made domestically to ensure we have complete control of the quality of our products and that it is done correctly. The risk of a load of Smart Fridges being made incorrectly will cost the company money when we have to recall them and it will tarnish our prestigious image. Once the product is made within our facility, we will use an in-house distribution system that uses our own trucks to deliver our products across the country. We will have large semi-trucks take truckloads of our product to terminals stationed across the country. Once the product is taken to these terminals they will be loaded in smaller box trucks that will take the product to stores across their delivery zones. Doing it this will reduce the miles that must be travelled in gas guzzling Semi trucks and make our supply chain more efficient. The plan will be to have our main warehouse in the middle of the country in Kansas. We will then have a terminal in Nevada that will take care of the West side of the country, one in South Carolina that will take care of the East side of the country and one in Kansas will take care of the middle of the country. Once it is at the stores, they will then use their trucks deliver to customers. This will reduce the amount of times the product must be loaded and unloaded, reducing the risk of damage and cutting cost.

Integrated Marketing Communications Strategy The most important part of our marketing strategy will be delivering a consistent, quality product and the same message no matter where you buy our product from. We will manage our company ethically and ensure we don’t have anything that could tarnish our company reputation. If anything negative happens, we will be proactive and ensure that we are doing everything we can to manage the situation and ensure it doesn’t happen again. Our sales team will deliver the same message no matter where they are attempting to sell our products which will solidify our company image. When a company shows inconsistent ideals and values it weakens the solidarity of a company image and we will ensure that does not happen. We will have excellent communication within our company. From the CEO to the truck drivers, everybody will have voice and everybody will be heard. By doing this our employees will feel important and want to deliver the best service they can possibly deliver. The message within the company will be to always work to better the business and that will show in our final product. Through advertising and delivering a consistent quality product and have excellent communication within our company, our marketing communication strategy will be strong and successful.