MARKETING MANAGEMENT

MICRO FRIDGE CASE STUDY ANALYSIS

Robert Bennett, who has a Master's degree in engineering quit his job at 21 years of age sells
his vacation home and other assets to fund his business with proceeds of $50,000 with a new
innovative concept of a Microfridge.

Problem- what the market is? How to reach the market with his concept?

Bennett must decide which markets to serve, which competitors he must contend with, with
whom to collaborate, and what core capabilities to build.

5 C analysis:
 Company- Robert Bennett starts MicrofridgeInc. with his unique idea (3-in-1 model).
The product helped in solving electricity problems, it could enable safe cooking for
students reducing the number of fire cases.Also the micro fridge is easy to use,
attractive, durable and portable.

 Customers-The target audience for Robert would be the people living away from
home, especially the college students, the military bases, hotels /motels etc. The
students seemed to be satisfied with the product unlike the college administration who
did not find the product to be reliable. He can expand his customer base to bachelors,
transportation (bus, rail or air) and corporate organizations as well.

 Collaborators- Integration with distributors, competitors etc would provide him with
better opportunities to reach out to a wider audience. Innovation and modification is
required to make it more unique and inimitable.

 Competition- He approached companies like General electric, Amana and other

larger companies who had a competitive advantage of time and experience, consumer
base and loyalty over Bennett. Samsung and Sanyo were willing to collaborate with
him provided he agreed to pay for the specialized tools.

 Context – This refers to the PESTEL analysis. The environmental factor sets this
product apart as it saves electricity and reduces the risk of fire. The social aspect is
that people staying away from home are focused upon. The technological aspect is
the new innovation made by Bennett, accompanied with the problem of the idea being
imitated by bigger companies which also brings in the legal aspect of patenting the
product. The economic aspect is consumer affordability and profit of the business.

Value proposition:
- It is an innovative concept; a 3-in-1 model to combine a refrigerator, freezer, and
500-watt microwave into an 87-pound, 4-foot-high appliance to sell to college
students.
- Power saving, less cost and portability are the main features.
- The students used unsafe methods of cooking through hot plates which led to increase
in the number of fire cases. So it is a safer method for the ones staying away from
home and creates value for them.
- Value proposition= The micro fridge is compact, safe, versatile, attractive, portable,
easy to use and convenient.