This report is based on the introduction of an alarm clock by a company named Rekofa. It is new to the market. This new product will fall into the category of durable products. The target markets for the product have a broad range of ages from trendy teenagers to the office goers; each market needs a different marketing mix to suit their needs. Benefits include: having an alarm clock for all the basic needs of today's life.
An early prototype of the alarm clock was invented by the Greeks around 250 BC. The Greeks built a water clock where the raising waters would both keep time and eventually hit a mechanical bird that triggered an alarming whistle.
The first mechanical alarm clock was invented by Levi Hutchins of Concord, New Hampshire, in 1787. However, the ringing bell alarm on his clock could ring only at 4 am. On October 24, 1876 a mechanical wind-up alarm clock that could be set for any time was patented (#183,725) by Seth E Thomas (http://inventors.about.com/od/cstartinventions/a/clock.htm).
With the change in technology, the function of an alarm clock has also changed dramatically.
Rekofa alarm clock is committed to its philosophy of "a better product with better options" to keep up with the modern day technology keeping in mind the customer's needs and wants.
Rekofa alarm clock will enter Australia's rapidly growing to compete with Panasonics, Sony, TEAC and other more alarm clock companies.
This report will examine the companies that are already in this market. We will also look at what features they are providing to the customers, and what benefits Rekofa alarm clock can add to the market.
Rekofa alarm clock will be introduced into the Australian market as a durable product keeping in mind the consumer's wants and needs with...