Cumberland Metals Case - 1048 Words

1 We recommend Cumberland Metal Industries capitalize on their evolving position as a leader in the curled metal industry and effectively launch their new curled metal cushion pads to be positioned as the â€Å"new industry standard† in the pile driving market. In order to successfully launch this product, we first and foremost recommend that CMI acquire a patent to prevent this product from being copied and imitated, thus avoiding the entry of competitors. The associated value and advantages of CMI’s metal cushion pads are evident from the results of the two comparative performance tests by Colerick and Fazio. CMI pads drove piles 33 percent faster than asbestos per hour and lasted the entire job while also eliminating the downtime required†¦show more content†¦We encourage CMI to identify the top contractors and dispatch sales representatives to educate these companies on the benefits of the new CMI metal cushion pad in comparison to what is currently being o ffered in the market (asbestos pads). The sales representatives can use the results from the Colerick and Fazio tests to demonstrate the advantages of switching to CMI metal pads. Allowing them to test the product before paying will only improve brand reputation and overcome price objections. We know they are very interested in making money, thus we can assume they are interested in saving as much time and money as possible throughout each pile driving job. Contractors bid on job contracts by estimating the amount of time it would take to drive the specified piles the distance required, and by utilizing the new CMI metal pads and simultaneously minimizing the associated time per job, these contractors can win more jobs and produce more efficient work overall. Once independent pile-driving companies such as Colerick and Fazio try the product and see the unique value and advantages that CMI pads offer, they can promote the product through word of mouth and by exemplary job execution w hich will in turn help aid in making CMI pads the new industry standard and most well-known pile-driving pad brand. 7 Knowing that some independent contractors will be apprehensive in switching to CMI metal cushion pads due to cost and lack of information on the value added benefits, weShow MoreRelatedCase 2: Cumberland Metal Industries1070 Words   |  5 PagesIndustrià «le Marketing Prof. dr. Muylle Steve Case 2: Cumberland Metal Industries: Engineered Product Division, 1980 Deadline: Friday 14/10/2011, 18h Group1: Team 07: Michiels Verona Moortgat Jonas Moravcovà   Alexandra Mortier Nick Seffers Raphaà «l 1. What is the worth of the CMI cushion pad relative to the incumbent asbestos cushion pad? Build a customer value model including value elements, word equations, assumptions, and calculations based on the test results of both ColerickRead MoreCumberland Metal Industries : Case Study1144 Words   |  5 PagesCumberland Metal Industries – Case Study Aayush Koradia Issues: Following were the issues being looked by Cumberland metal ventures:  ¥ How to value the item which does not exist in market to guarantee individuals would end up buying?  ¥ How to promote, teach and decide the appropriate channel to dispatch the item  ¥ How to approach the influencers?  ¥ Demand estimates  ¥ How to create a market for the pads?  ¥ Product mix - What all items will be offered as they are as of now concentrating just onRead MoreCumberland Metals Case Study Essay1870 Words   |  8 PagesThe â€Å"Cumber-Coil†: A Revolutionary Product for the Value-Conscious SITUATION ANALYSIS Cumberland Metals Industries developed a new type of cushion pad for pile drivers made of curled metal. 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This elimination is done by doing the matching exercise, in whichRead MoreCumberland Case2007 Words   |  9 Pages Q1-1) What price would you charge for the Cumberland pad? According to the six stages of setting price, â‘  we have to select the pricing objective. Since Cumberland is in the level of introducing CMI, they have to pursue product-quality leadership which is to offer â€Å"affordable luxuries† for now and consider about maximizing profit later. â‘ ¡The second stage is to determine demand. So, Cumberland has to consider consumers’ price sensitivity - in this case sensitive to quality. Therefore, we should thinkRead MoreCumberland Metal Industries Analysis Essay example1301 Words   |  6 PagesExecutive Summary Cumberland Metal Industries (CMI), which was historically one of the largest manufacturers of curled metal products in the country, has developed a new product. This product is a metal cushion pad which is to be used with large crane-pile driving activities. 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