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Project report on market segmentation
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Literature review on market segmentation
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Customer Expectation for a product changes from one customer to another and so does the definition of quality. In case of a refrigerator there isn’t a product that could satisfy every customers need therefore manufactures have to target their products in different segments. Even if the product caters for a certain customers need, it wouldn’t stop a rival company from bringing new features that customers never imagined and now customers have changed their quality definition.
When assessing the quality of a product it is important to understand the thought process of a customer as sales are generated through them. A customer generally has a preconceived idea about the product or service, after consuming they would have perception on how the product or service performed; if the product or service does perform to expectation or even beyond, it would be perceived as a quality product.
Evaluation of the LG Refrigerator (GL-M252VM) using the Garvin’s eight product dimensions framework.
Dimensions of LG Refrigerator - GL-M252VM
It is important to understand that quality varies when product evolves through time. Consider this, when refrigerators were introduced newly it contests on the level of performance and when all competitors are close enough to a certain level customers expect all products to perform (maintain a necessary temperature to keep bacteria away).then competition goes to the reliability stage where they compete on reliability, Durability, Conformance and Perceived Quality once these aspects are meet or even close to judge the completion moves on to convenience stage Features, Serviceability and Aesthetics will be their success factors and product is considered to be a commodity that is contested on price.
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Works Cited
1) Miner (2010) Re: 8 Dimensions of Product Quality according to Garvin. [online]. Last accessed 3 April 2012 at: http://elsmar.com/Forums/showthread.php?t=45292
2) Press Releases (2011) LG’s Linear Compressor Refrigerators: Technology that Preserves. [online]. Last accessed 3 April 2012 at: http://www.lg.com/za/press-release/article/lgs-linear-compressor-refrigerators-technology-that-preserves.jsp
3) Module 11: Quality Management (2010). [online]. From YouTube last accessed 4 April 2012 at: http://www.youtube.com/watch?v=QJNVrY_Z2NM&feature=related
4) Product Support for GL-M252VM.AMDQABN. [online]. Last accessed 3 April 2012 at: http://goo.gl/ziWk1
5) James R. Hood (1998) Consumer Complaints & Reviews [online]. Last accessed 3 April 2012 at: http://www.consumeraffairs.com/homeowners/lg_refrigerator.html
Ruth Schwartz Cowan wrote “How the Refrigerator Got Its Hum” in 1983. It was included in the section, “Failed Machines” of her book. I never thought about why most refrigerators are electric. We have owned gas stoves and dryers, but never a gas refrigerator. Gas appliances cost more upfront, but are inexpensive to run over time. Personally, I would rather have gas appliances than electric and believe many other people would too; however, there are major factors that caused the gas refrigerator to fail.
Barry first discusses the impracticality of appliance manufacturers' desired features. They envision refrigerators which alert the consumer when they have run out of milk, transmits their weight to the gym, and allows the sharing of information on the internet. "I frankly wonder whether the appliance
One of the greatest accomplishments and innovations of human history thus far is the invention of the electric refrigerator. Such a simple concept has literally changed how the entire world stores food and has saved millions of lives in the process. Refrigeration as we know it has only been around since the 1930’s, and in less then a hundred years has been greatly taken for granted. Since the influence of electrical engineering in the modern refrigerator, refrigeration has gone from storing food in an ice cellar to being able to have two dedicating refrigeration units with controllable temperatures and even an ice machine attached. Without electricity modern refrigeration would be drastically different, using instead previous refrigeration
Larry Barr has recently been promoted to the district sales manager position for G.E. Appliances. One of his more important duties was the allocation of his district sales quota among his five salesmen. He received his 2002 quota in October 2001 at which time his immediate task was to determine an equitable allocation of that quota. This was important because the company’s incentive pay plan was based on the salesmen’s attainment of quota and a portion of his remuneration was based on the degree to which his sales force met their quotas.
For this assignment, I have decided to focus on what makes a good quality
Clery, R. G. "ISO 9000 Quality Systems: Application to Higher Education." October 4, 1993. (ED 363 163)
Garvin, David A., "Quality on the Line," Harvard Business Review, September October 1983, pp. 64-75.
Threat of substitutes in market as best quality is not always a priority for some customers as they are price sensitive.
In thermodynamics Refrigeration is the major application area, in which the heat is transferred from a lower temperature region to a higher temperature region. The devices which produce refrigeration are known as Refrigerators and the cycle on which it operates are called refrigeration cycles. Vapour compression refrigeration cycle is the most regularly used refrigeration cycle in which the refrigerant is alternately vaporized and condensed and in the vapor phase it is compressed. Gas refrigeration cycle is the well-known refrigeration cycle in which cycle refrigerant remains in the gaseous phase throughout the cycle. Cascade refrigeration are the other refrigeration cycles discussed in this chapter; absorption refrigeration is the one more refrigeration cycle which is used where the refrigerant is dissolved in liquid before it is compressed. One more refrigeration in which refrigeration is produced by passing the electric current through two dissimilar materials is called as the thermoelectric refrigeration.
In this time of age, things have been consuming a lot of electricity compared to the old electrical appliances. People have been innovating different types of electrical appliances to reduce the amount of electricity used by the household such as air conditioner, refrigerator, television, and other appliances. One way of saving electricity which have been introduced in the new era is the Bio Robot Refrigerator introduced by a student from Russia, Yuriy Dmitriev, which is one of the 25 finalists in the Electrolux Design Lab competition. The competition is to challenge the entrants to redesign the modern appliances for the future.
The scientific principle behind how a refrigerator actually works is quite basic. The refrigerator uses the evaporation of a liquid to absorb heat. This liquid is often known as the refrigerant, and when used in the refrigerator, evaporates at a fairly low temperature. This causes the cold temperatures within.
Refrigerators and stoves are the main product lines in which Atlas Eléctrica has its core competences. They are also working fine due to the production system.
The factors for exponential growth for air-conditioning are the HVAC Market, energy, environment, communication, societal, political, preparing for the future, looking ahead, and the conclusion. Buildings of the U.S. use approximately 35% of the nation’s precise total of energy consumption. The worth of shipments by U.S. HVAC manufacturers was over $28 billion of 1996. Since there are 52,000 CHC chillers needed to be replaced among the U.S., there’s a large opportunity for new chillers, new technology for the HVAC industry. The ozone depletion is an international issue in which is currently being resolved. The 3rd world countries are still allowed to manufacture CFC’s. Illegal imports of CFC’S to the U.S. is a consistent concern. Many illegal imports are virgin CFC’s. Those whom have a political overtones are specifically the ones whom create a protectionism of local commerce, having a negative impact on those inside and out of the country.
Pricing. Our product is priced lower than our competitors in our industry. Even though our competitors have a different kind of product compared to us.
We commonly view quality as a physical property of our product and therefore see our task as producing a product that meets these physical characteristics.