Scenario
As a consumer electronics company, Acme Company manufactures and markets smart
home products such as heating, ventilation, and air conditioning (HVAC) thermostats,
video surveillance, and other similar products. These products are sold to consumers
through a variety of direct and indirect channels including company website, home
improvement retailers (such as Home Depot, Lowes, and Menards), consumer
electronics and appliance outlets (such as Best Buy), as well as several online
marketplaces (such as Amazon). These products can be self-installed, or customers have
the option to utilize authorized third-party installers many of whom are also affiliated
with the manufacturer and retailers. From a marketing standpoint, the company
employs traditional and digital channels/platforms to promote or advertise its products
to consumers across the US.
One of Acme’s flagship products is a line of technologically advanced, smart HVAC
thermostats (similar to Google Nest) which can be connected to the Internet through inhome Wi-Fi and ranges in price from $129 – $299 per unit. These smart thermostats
offer a variety of options to consumers including being able to program, monitor, and
control the device through an embedded interface as well as a mobile app.
Furthermore, these smart thermostats can also be integrated with other household
devices such as digital assistants which allows users to change settings via voice
commands. The smart thermostats also provide users with a plethora of information
including energy consumption by day of the week as well as monthly usage trends,
temperature across different zones in the house, etc.
The smart thermostat product has been around for a few years and is currently in the
growth stage of its life cycle. Moreover, the smart thermostats account for a growing
portion of Acme’s home automation product line revenue and profitability and are
increasingly being sought by consumers for various reasons including their energy
efficiency benefits, convenience, contemporary style and aesthetic appeal, etc.
Acme has just launched a third-generation model and is trying to attract new customers
while also encouraging existing ones to upgrade to the new product. Acme has decided
to utilize its existing channel and independent installer network to launch the new
product while also persuading existing customers to upgrade to the newer product
which retails for $299/unit.
As the product manager for Acme, you have completed your internal research and
planning and found that you have a large installed base of first generation thermostat
users as many never upgraded to the second version for various reasons such as hassles
of installing a new device, higher pricing for the newer version, perceived lack of need to
upgrade on the part of the customer, etc. Your research also shows that the smart
thermostat market is becoming increasingly competitive as several companies have
launched lower-cost devices which offer many of the same features and functionality as
your products. However, since many of these competitors are new to the market, they
do not have a legacy customer base, nor do they face the same marketing challenges of
supporting multiple product versions.
ASSIGNMENT
Develop a consumer-focused email (minimum 2-pages) which is to be sent to existing
product owners, both first and second generation smart thermostat customers. Assume
you have their contact information from when they purchased or registered the
product.
The email should focus on accomplishing the following objectives:
a) Persuades recipient to open the email.
b) Provides information about the new product.
c) Prompts specific action such as visiting your website or clicking on certain links
to find more information about the new product.
d) Persuades customers to upgrade to the new product.