C/M/410. Coolfast Case Study: a case of appropriate product design process and market segmentation, research and strategy

This work looks at the Coolfast case study, which is a product initially developed to transport pharmaceuticals and medical products that needed to be kept cool throughout the world. In this work there is a detailed analysis of the design process, suggestions of how the European market for Coolfast can be segmented, a proposal for market research to assess the potential demand across Europe and a proposal for an appropriate marketing strategy for the launch of Coolfast in the UK. There is particular reference to the economic theory and optimal approach to market segmentation and the use of ethnography as a market research method vital for understanding the needs of the market and consequently how companies can adapt to potential customers' feedback in creating a product even more focused on customer needs. The paper answers the following assignment tasks: Evaluate the design process used by the three companies in the case and compare this with best practice as outlined in the literature. In this, state what they should have done and why and consider aspects of the process, people and leadership. With reference to the appropriate theory suggest how the European market for Coolfast could be segmented. Draw up a proposal for market research to assess the potential demand across Europe. Propose an appropriate marketing strategy for the launch of Coolfast in the UK.