Conference On Human Factors And Ergonomics-Myassignmenthelp.Com

Question: Discuss About The Conference On Human Factors And Ergonomics? Answer: Introducction In the current assignment, a marketing plan had been designed for the Napoli multi-fuelled pizza oven. It is a start-up venture conceived by Eric and his partners based in the Minneapolis. One could easily fit in the Napoli multi-fuelled pizza in their backyard and bake pizzas as well as a number of other cuisines or dishes. The cooking apparatus here is fuelled by gas, charcoal or wood giving a variety of options for cooking food. The USP of the apparatus is that it can even cook a Neapolitan style pizza at a temperature as high as 900 degrees in 90 secs (napolioven.com 2018). The apparatus allows you to convert the backyard of your home into a makeshift kitchen easily where you can cook on one side as well as host parties. They were a welcoming change to the typical firewood ovens which are both expensive as well as take up a lot of space. Additionally, the apparatus has been designed in manner so that it offers you a variety of heating options compared to some of its competitors w hich could only be operated with cooking gas. Additionally, the apparatus would start from a minimum price of $ 249 which could make it easily affordable. However, the product is still in its initial stage and had to undergo a number of challenges for achieving maximum sales. Some of the challenges faced by the product in this regard were the lack of sufficient financial analyst for designing an effective future marketing strategy. In this assignment, we have tried to develop a marketing plan for the concerned start-up. Situation analysis using micro and macro environmental analysis tools A business firm operates within two different types of environment that is a microenvironment and the macro environment. In this respect, the different components affect the business venture differently. The microenvironment consists of customers, producers, marketing intermediaries and the company itself. Customer targeting forms a specific component of a start-up venture as the purchases made by the customers often govern the survival of the brand within the competitive market. As commented by Jarzabkowski and Kaplan (2015), advertising and sufficient brand promotion often forms a critical component of achieving maximum amount of sales. The producers can play a very constructive role in the marketing of a product by pitching the right prices for the products. The marketing intermediaries comprise of the distributors, who play a significant role in making the goods available to the target customer group. Therefore, for understanding the micro environmental factors affecting the grow th in business of the Napoli multi-fuelled pizza oven can be described with the help of a SWOT analysis. Strength Weakness ? Portable and easy to handle ? Can cook a wide variety of dishes ? Can be used with a wide range of heating options (napolioven.com 2018) ? Lack of financial analysts to plan the future marketing plans ? Lack of sufficient funds for a startup venture might impact upon its growth and place too much dependence upon its stakeholders. Opportunities Threats ? Cheap price of the oven along with a number of heating options can provide it with a competitive advantage ? the apparatus is fun and addictive to use offering tasty charcoal cooked food making it worth the purchase of the traditional wood oven ? the emergence of similar brands in the market ? lack of effective financial planning can result in the financial losses being ignored (napolioven.com 2018) Table 1: SWOT analysis (Source: Author) The SWOT analysis conducted over here help in analysing the micro environmental factors which influence the operations and management of the Napoli multi-fuelled pizza oven. Since the Napoli Multi-fuelled pizza is a start-up venture it lacks a number of strength factors which could provide it with a competitive advantage. The lack of expert financial planners could challenge the long-term growth of the business (Groesser and Jovy 2016). For a start-up, the lack of sufficient funds can also hamper successful pitching of the brand in the competitive market. One of the problems which could be faced over here is recurring sufficient profits from the sale of the products. As a start-up company the Napoli medium fuelled pizza needs to increase its per capita rate of production so that it can reach out to maximum number of customers. However, the lack of effective financial planning can hamper the sales target being achieved. Additionally, an external market analysis can be conducted for the Napoli multi-felled pizza oven with the help of a PESTEL analysis. The PESTEL here can be broken down into a number of components such as political, economic, social, technological, environmental and legal factors. Attributes Effect on the brand/product Political ? the effect of recession can make people cut down spending on unnecessary services (Kleppe and Mossberg 2015) ? changes in trade policies can affect the per capita sale of the products and services Economic ? the lower rates of the product can lead to negative revenue generation (Keller 2017) ? the growth in the rate of disposable income can lead to increase in the purchase of the products Social ? changing attitude towards health can develop a certain amount of doubt in the population regarding the purchase of the oven ? growing consumer activism can also challenge the growth of the product by questioning the health benefits of a fast food product (Silva et al. 2017) Technological ? the insulating coating around the ceiling and the walls prevent the risk of any burn or injury ? rapid changes in automation and technology can soon cause the product design to become outdated Environmental ? the burning of charcoal wood as a fuel can be seen as a negative move by the environmental activists Legal ? The lack of financial analysts can result in unnecessary economic burdens on the company which could invite legal actions (Kuratko 2016). Table 2: PESTLE analysis (Source: Author) Deduction of the problem situation from the situation analysis The problem situation of the Napoli multi-fuelled pizza oven can be deduced from a number of environmental analyses. The reflection through the various parameters helps in understanding the loophole associated with the sale of the product. One of the cheap problems identified from the SWOT and PESTEL analysis of the firm is the lack sufficient financial analysts. As argued by Abdelkafi et al. (2016), less effective financial planning can lead to negative revenue generation from the sale of the products. Additionally, failure in reflecting upon the losses incurred by the company can challenge the existence of the products in the global market. The lack of financial analysts leads to ineffective financial management (Hartmann et al. 2016). The financial management enables a company to obtain sufficient capital for growth along with maximizing the income potential of the start-up venture (Vogel 2017). In this respect, a number of guidelines could be followed by the Napoli multi-fuelled pizza for enhancing the financial returns. Some of these are balancing the management skills and abilities with the increasing demand for the product, which could help in gathering sufficient revenue from the sales of the product. For example, balancing the debt position of the business with equity and additional equity can help in managing the future debts (Wheeler 2017). In this respect, if the business has an equity position of less than 30 percent, a certain amount of money will have to inject as equity to finance additional debt (Reinhardt et al. 2017). There are several ways of balancing opposing forces that affect the finances of business. One of the ways by which it could be done is financial management concept. Under this concept, the profits earned by the company are reinvested into the business. Additionally, a number a number of business models could be applied over here for maximization of the profits from the per capita sales of the product. As commented by Rana et al. (2017), risk planning firms and effective part of effective financial management. This can further help in coping up with the lack of effective financial analysis. One of the financial planning systems which could be used over here is the CAC LTV framework, which helps in monetizing the customer at significantly high rates than the cost of acquisition. The CAC refers to the cost of acquiring a customer which should be less than the TLV, which refers to the lifetime value of acquiring a customer (Dai et al. 2016). The CAC score can be obtained by dividing the entire cost of sales and marketing with the number of customers dealt with (Kleppe and Mossberg 2015). The LTV could be measured from the gross margin associated with a customer. It consists of a number of factors such as installation, support and operational expenses; a higher LTV refers to highly satisfied customers. Additionally, improving the after sale support services can help in coping up with the loopholes associated with financial analysis (Rossiter 2014). An effective after sales support services means that thee customers keep on coming back along with building a loyal customer base (Reinhardt et al. 2017). This gives the company a competitive advantage in the global market and would help in managing effective finances for the start-up venture. Marketing objectives for the company The marketing objective refers to the goals fixed by the company for the promotion of its products and services to potential clients. They help in developing a separate identity for the business within the global and competitive market. In this respect, the Napoli multi-fuelled pizza oven can lay down a number of marketing objectives. Some of these are increasing the sales of the product, improve the product awareness, brand management. The increase in sales needs to exceed the cost of marketing, the higher the returns on investment the better are the chances of the survival of the firm (Paetz 2014). The product awareness is the important component of the promotional tactic. As commented by DiResta et al. (2015), using the digital media for raising the awareness regarding the commodities and services can help in increasing the investment in returns. Some of the sites which could be used by the Napoli pizza oven are facebook, youtube, etc. they have successfully maintained a number o f blog posts over YouTube which could serve as effective product awareness campaigns. Social media marketing can also help in educating the audiences regarding the method of using the pizza oven, which may remove any apprehensions associated with the product (DiResta et al. 2015). Additionally, brand management or building upon the brand value associated with the product also helps in engaging a large number of customers. For example, Nike got its brand associated with some of the famous people which further help in expanding the customer base. Additionally, reaching out to the target customer base with the help of increasing the number of sales outlet can also help in maximization of the profits (Paetz 2014). Defining the target customer segment The customer segmentation forms an important part of a marketing plan. This is done by personalizing the products and services as per the requirements of the target customer group. For the current marketing plan middle, aged foodies settled across various parts of the world harbouring a strong love for Neapolitan styles pizza were made into the target customer base. The reason why the Napoli pizza oven was made popular among the population was the relatively high range of temperature the apparatus could offer. As cooking a Neapolitan pizza requires temperature above or across 9000-degree Fahrenheit. Thus, such as high temperature could not be reached indoors with the traditional ovens. However, the insulated ceiling of the pizza oven makes the cooking at such high temperatures relatively safe and easy (napolioven.com 2018). The oven is also portable and could be carried anywhere by the foodies. Additionally, the multi-fuel aspect of the apparatus also makes it easy to operate, increa sing the product worth and value. The marketing gimmicks which were chosen by the Napoli multi-fuelled pizza oven over here was promoting their product over some of the most visited channels such as facebook and youtube. Designing a marketing mix A marketing mix model could be used for promotion of the product and reach the target market. The marketing mix model could be divided into four important components such as product, place, price and promotion. A detailed analysis of the marketing mix has been provided below: Attributes Effect on the product marketing Product ? The compact, portable and options for using a number of fuels makes the product a worthy purchase for the foodies ? The high temperature offered by the product makes cooking Neapolitan pizza easier ? The customers can easily set up the product in the backyard of their homes ? The product is 7-10.5 inch which makes it easily adjustable in small garden areas (napolioven.com 2018) ? The oven could be used to cook a wide variety of dishes Price ? The product is available across different offers and different price ranges ? It starts somewhere between $ 249 to 5600 dollars, therefore there is something on the platter for everyone (napolioven.com 2018) Place ? The start-up is based in Minneapolis but Eric and his partners ensure that they keep the delivery options open across the world. ? The products are put on display at local electronics and Spencers which could generate sufficient customer awareness Promotion ? The promotion of the product was done using channels such as facebook and youtube ? Additionally, special discount offers were provided on the first-time collection of the oven. Table 3: 4P analysis (marketing mix) (Source: Author) The marketing analysis helps in understanding the brand positioning of the product in the competitive market. The product offers a number of flexible options for the foodies, as the product allow making a wide range of cuisines under different temperatures. The product is cheap and could be easily afforded as it is available across a wide range of prices. However, a number of glitches might be faced by the product in achieving maximum sale due to the lack of sufficient financial analysts (Zurub et al. 2015). Additionally, a start-up the company may be lacking adequate distribution channels. Therefore, the inventors of the Napoli pizza oven believe in keeping the consumer posted. This could also be used to develop an effective and loyal relationship with the customers based upon process delivery and after sales services so that they are willing to order the products again as well as recommend the same to their friends. Conclusion The current assignment is based on the Minneapolis based Napoli multi-fuelled pizza oven. It is a start-up venture by Eric and his partners and had to face a number of challenges. Some of the challenges in this regard are the lack of financial analysts. This results in the lack of an effective financial planning which is an important part of the marketing plan. Therefore, development of product awareness and brand management tactics can help in reaching out to more number of customers and achieving sufficient number of sales target which is the challenge the company is facing as a start-up. In addition, use of a CAC LTV framework for financial management can help in the calculation of the financial risk. Additionally, use of digital media like Facebook and youtube can help in the development of a loyal customer base. The developers could also partner with more distribution sources in order to increase the home-based delivery of the products. The social media campaign can also help in generation of sufficient funds by bringing the product into the focus of more online retailers and distribution partners References Abdelkafi, N., Makhotin, S., Thuns, M., Pohle, A. and Blind, K., 2016. To Standardise Or To Patent? 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