Expanding a Business into Services
Services provide an additional form of revenue for companies. The service component can be a standalone offering or a component of a product offering. In this assignment, you examine either a consumer service or a business service that is a market growth initiative to expand a companyâ€s offerings beyond products.
The following Course Outcome is assessed in this assignment:
MT450-6: Apply Marketing Mix principles to business or consumer services.
Scenario: Environmentalgear is a home and office products company available online, promoted through a catalog mailed out every six months and through advertising via business magazines. â€œWe make life easierâ€ is their motto. Their logo is:
Founded two years ago by a scientist, a product engineer, and a retail marketing expert, this startup began with home products and, after gaining success, moved on to office devices.
Their newest home product is a sleep-enhancing product that involves a light-weight, soft, but supportive neck collar with a detachable eye mask. The neck collar is preset to be the right temperature to induce sleep and yet provides a choice of soft mantras or meditative sounds on very low volume for the best amount of time per scientific sleep research. The wearer can set the sleep time and soft volume choice of sounds that wake them up gradually. The temperature adjusts automatically throughout the night to be the right temperature. It comes in light and dark blue, black, grey, pink, pale green, and white.
Their newest office product is a workstation with built-in lighting (auto-adjusting and reducing blue light depending on the time of day). It also has a built-in fan for protecting the computerâ€s hard drive and a built-in whiteboard that can pop-up at the touch of a button and is the length of the desk. The desk has room for up to three monitors and includes a built-in device hub area flush with the surface.
Existing company home and office products in navy blue, pale yellow, black, grey, pale green, red, and white.
The company now wants to expand into services.
Consumer Service: (1) They want to add an at-home service whereby a home ambiance consultant will visit the customer at home to help them adjust their home products and make other recommendations for improving the home environment.
Business Service: (2) They also want to add office consultants who can improve the office ambiance to be more conducive to the client companyâ€s goals, comfort, and productivity.
Respond in a minimum 600-word paper using current APA format and citation style
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