Beruflich Dokumente
Kultur Dokumente
ANKIT GOEL
KAUSHIK NIHALANI
MAYANK RATHORE
NIKHIL JAIN
SHASHANK SHUKLA
Conception
of
MicroFridge
in 1987
Developin
g a very
sophisticat
ed
marketing
plan
Expanding
the market
from
colleges to
military to
motels to
senior living
Building
the
product
Difficultie
s in
selling
the first
units
a refrigerator, freezer,
and microwave unit,
fulfilling all 3 functions
Targeted at A Home
away from Home
segment
Product Benefits
Helped to solve the electricity problem
in schools. Saved costs.
Students using Microfridge could cook
safely in their rooms
Students
would purchase food from
convenience stores on campus for their
Microfridge units
The concerns of students parents were
addressed
Convenient,
easy to use, attractive,
durable and easy to clean
Very useful for military bases and
hotels/motels
PRODUCER MODEL
Idea
Conceptualizat
ion
Self-sustaining
new business
Corporate
veteran
leadership
Unmet need
identification
Production
Strategy
Market
Segmentation
Competitor
Analysis
Collaboration
Strategy
Building Core
Capabilities
Risk Appetite
Campus Installation
Campus Rental
Colleges purchased or rented
on behalf of students
Mailing -> Check Collection
-> Install -> Store in
summers -> Re-install in fall
duty of college
Purchase Price: 399$
Rental Price
$110 per year
$100 for 5 years
Company Rental
Managed by MicroFridge
Yearly rental fee: 160$
Some units stored off campus
Massachusetts, Georgia,
Iowa, California
Colleges
Products
Market
90% of revenues
600W, 0.5 ft oven on top of
Two door refrigerator - 2.1
ft storage (OR)
Freezer - 0.7 ft storage
Purchase Price: $261
Selling Price: $399 (OR)
rented
Variations single door units,
no ovens, no freezers
MicroMart
Separate refrigerated and
freezer cases with dry goods
display shelving
Intended for motel lobbies
for guests to purchase
supplies
MicroBar
Modern mini-bar for hotel
rooms
Billed as more energy
efficient and functional
DISTRIBUTION
Independent Distributors
Sales Force
SALES FORECASTING
Forecast for Military
No.
No. of
of
Student
Student
ss
Rental
Rental
program
program
ss
Housing
Housing
contract
contract
Foreca
st
Student
Student
Survey
Survey
Microwa
Microwa
ve
ve
General Services
Administration
Contract
Military Sales
Coordinator
Sales to
Hotel/Motels
Customer Service
Satisfaction measured
through Surveys
5-year Warranty on
Compressor & 1-year on
other parts
Commission of 2%-5%.
COMPETITIVE SCENARIO
Problems with using two suppliers
Samyan would not accept delivery of
microwaves made by others
Microfridge could either set up a
new distribution channel or stick
with the high-priced Samyan
Attaching
the
refrigerator
and
microwave was an issue
The Samyan bracket did not work
with the Daewoo microwave
Samyan reluctantly altered their
bracket for compatibility
Limited
FUTURE STRATEGY
RISKS
Stake dilution Impact on decision making
New Management Strategy and Objectives
could differ
SELL OR RENT
Selling
RENTING
FOUR MODELS
CORPORATE
ENTREPRENEURSHIP
INSTITUTIONALIZING
ENTREPRENEURSHIP
Presence of a context or a
common goal
Provides a sense of direction and
an environment conducive for
learning from each other
Innovative ideas are festered
throughout the organization
Though the
company was on
track, Bennett was
not content at the
current growth
Taking advantage of
its structure, the
company would
focus on new
products in the
home away from
home category
In order to be able to
withstand competition,
Microfridge would
increase sales rapidly
To receive USD 4 million
in additional equity
The funds would be used
to purchase Microfridge
units (rental) and to
repay old debt
Aim to increase
entry barriers
in the market
RECOMMENDATIONS
Product Recommendation
Innovate
Try to modify product for Travel : Bus, Rail and Air
Category Recommendation
New product for home away from home
Focused innovation
Market Recommendation
Explore New Geographies
Acquisitions for regional penetration