Tag Archives: positioning map

Rent Furniture instead of Buying

Most college students likely have furniture that includes hand-me-downs from family and friends, or purchases from garage sales and Craig’s List. The sofa in their living room was probably once used by Aunt Helen in Kentucky, transported by Cousin Patrick to New York, sold to his friend Alan who moved to New Jersey, and who knows who else as it made its way around the country! And that is fine for young millennials who are just starting out. But eventually, their longing turns to new furniture that they view regularly on social media platforms such as Instagram and Pinterest.

But it’s hard to swallow that high-priced new furniture. New furniture buyers are likely shocked by the price for that brand-new West Elm sofa. How can they afford that thousand-dollar sofa when they have to pay student loans, car payments, rent, and everything else?

Enter: Services that let you rent furniture through a monthly membership, giving you the option to swap out furniture when tastes and trends change. For example, a popular West Elm sofa may cost $899 in stores, but it can be rented from Feather at $52/month (12-month subscription), and then swapped out, renewed, or returned. Individual pieces as well as full-rooms can be rented in certain cities. It’s a new way to live more upscale without having to pay out the entire fee at once.

Shall we redecorate?

Group Activities and Discussion Questions:

  1. Poll students. Where is their furniture from? Family, friends, neighbors, Craigs List?
  2. What would be their interest level to rent new furniture once they graduate and begin working? How much would they be willing to pay?
  3. Show furniture rental sites:

West Elm: https://www.renttherunway.com/westelm

Casa One: https://www.casaone.com/

Fernish: https://fernish.co/

Feather: https://www.livefeather.com/

  1. Divide students into teams. Have each team examine the information for a different furniture rental company.
  2. Discuss the importance of clearly defining a target market.
  3. Divide students into teams and have each team develop a profile of a target market. Include demographics, psychographics, behaviors, values, attitudes, etc.
  4. Based on the target market profile, what makes this service unique for these customers?
  5. Debrief the exercise.

Source: Carefoot, H. (25 April 2019). Can’t afford that West Elm sofa? Rent it instead. Washington Post.

 

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Baby Food Innovation

“Baby food.” Even the phrase itself brings to mind mushy, tasteless, pureed, prepared food. While that may have been true of the old-fashioned prepared baby foods, it certainly doesn’t apply to today’s offerings of fresh, organic, foods for babies. Today, new parents are turning to delivery-based meal services to help them save time on meal preparation, but still provide healthy, nutritious, and delicious foods for their families.

Meal preparation is a topic for all stages of family life. According to Pew Research, both parents work in nearly two-thirds of all U.S. households. And, with so much time spent at work, time in the kitchen is at a premium. This has given rise to a number of meal delivery services such as Home Chef, Blue Apron, Plated, and more. But all of these are focused on adults. What about meals for the babies? Meals for babies present a somewhat unique problem– babies can eat only a small amount at a time, meaning that the potential waste of food is quite high.

A number of start-up companies have entered the baby food arena. These companies offer a variety of prepared products including flash-frozen food pouches which contain portioned, chopped, ingredients to meet a baby’s nutritional needs. Other companies deliver cold-pressed fruit and vegetable food pouches in temperature-controlled packaging. And yet another provides tubs of cold-pressed baby purees, including a spoon and packaged in a reseal-able container.

Food matters.

Group Activities and Discussion Questions:

  1. Discuss the use prepared, delivered meals. Have students had an experience with these?
  2. Review key aspects of developing a product positioning map, including determining the axis labels for positioning.
  3. Divide students into teams and have each team review a baby food product company with respect to product, price, place, and promotion.
  4. Examples include:
    1. Raised Real: https://www.raisedreal.com/
    2. Once Upon a Farm: https://onceuponafarmorganics.com/
    3. Little Spoon: https://www.littlespoon.com/
    4. Gerber: https://www.gerber.com/products/baby-food
  5. Have each team develop a positioning map.
  6. Have each team draw their map on the board.
  7. Debrief exercise.

Source:  Painter, K. (29 September, 2018). When the jar isn’t enough: Baby food innovators are on a roll these days. Minneapolis Star Tribune.

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