Executive summary
Our mission is to create delicious flavor, save on cost, and reduce the time needed to prepare food by providing high-quality smart kitchen appliances that make cooking a quick and enjoyable experience while meeting sustainable goals. Connected Kitchens provides high-quality, innovative appliances to improve consumers’ convenience.
Company Description
SuperSmart Connected Kitchens is established by McCarthy Cindy, John Mwangi, Alberto Moreno, and Kennedy Soanes. Cindy has an undergraduate degree in Marketing. Moreno holds an undergraduate degree in Business Management. Mwangi has worked in the retail industry for four years while Soanes operated Oasis Appliances before selling it. SuperSmarket Kitchens is located in Lakeland, Polk County, Florida. It is a limited company established by four members. McCarthy Cindy and John Mwangi are in charge of the marketing department, while Alberto Moreno and Kennedy Soanes are responsible for management roles.
SuperSmart Connected Kitchens provides a perfect solution to consumers seeking to improve the convenience and quality of their lives through kitchen appliances. SuperSmart provides smart kitchen appliances such as Smart Air Flyers for healthy cooking and efficiency.
Additionally, SuperSmart Kitchens is committed to meeting sustainable goals.
Our Competitive Advantage
While our competitors provide high-quality, regular kitchen appliances for those seeking to improve efficiency, our smart air flyer offers a perfect solution to healthier cooking, higher energy efficiency, and cost savings. Unlike regular kitchen appliances, consumers can control and monitor smart air fryers remotely from anywhere through mobile apps. In addition, a smart air fryer displays calories, fats, sugars, proteins, and carbohydrates while preparing the meal (Watson n.p).
Pricing, Supplier, and Promotions
Our Digital Air Fryer will be priced at 120% the cost price. The product will be stored and sold directly from our stores after receiving it from our supplier, Cuisinart. Online selling is also offered. The company will use its YouTube account and other social media platforms to promote the offering.
Mission Statement and Goals
Our mission is to create kitchen products that support healthy eating and sustainable living. We aim to make the kitchen more efficient and convenient by streamlining cooking processes and optimizing energy consumption and time while achieving sustainable living. We want to improve efficiency, enhance convenience, change traditional kitchens, and change consumer lifestyles. The rising cases of health conditions because of unhealthy eating lifestyles are making people more conscious of their lifestyle and health choices and practices. They are changing their diet and seeking healthy food equipment that makes food crisper and healthier. Smart Air Flyer provides a perfect solution by making cooking tasty and delicious food easier with less oil, time, and energy.
We aim to empower consumers to create more efficient kitchen systems and make life easier. Smart technology is revolutionizing the way people cook and organize their culinary spaces. We want to enable consumers to control and monitor their kitchen appliances from anywhere through mobile apps. An Air Fryer can simplify daily routines, save time and money, and lead to an environmentally friendly culinary kitchen. The product makes food crisper, better, and healthier. The main drawback to this product is that it cannot cook large amounts of food.
The product is priced slightly higher than regular Air Fryers due to the inclusion of additional automation features for remote controlling and monitoring. In Smart Air Fryer, you will be getting value for your money. The product will be sold through chain stores and online.
Product Review
The Air Fryer is used for baking, frying, grilling, roasting, and reheating. It has cooking applications and technologies to help regulate the number of calories, proteins, carbohydrates, sugars, and saturated fat. Air fryers ensure delicious meals with less saturated fat and fewer calories. Air fryers use less energy than both electric ovens and gas ovens. Air fryers reduce time and save money while consuming less oil for healthy food (Yu et al. n.p). The Smart Air Fryer is simple to operate. The Digital Display contains pre-programmed cooking programs. The Quick Control dial is for adjusting cooking time and temperature.
SWOT Analysis
SWOT identifies internal strengths, weakness, opportunities and threats of an organization.
Strengths
- The market is ripe for digital air fryers. Customers want high-quality products and are ready to pay high prices for efficiency and convenience. Smart Air Fryer has additional features and modern functionalities that attract consumers.
- Another strength is that the founders of SuperSmart Connected Kitchens understand the product and the target market. They are committed to meeting customer needs. The Air Fryer cooks crisper and better food with less oil while saving time and cost.
- Another strength is that SuperSmart Kitchens works with a single supplier/manufacturer to ensure optimum quality control and high-quality products.
- 12-month warranty to make customers happy
Weaknesses
- The first weakness is the inflexible price that might turn away potential customers.
- The other area for improvement is limited product variety. The product is sourced from a single manufacturer.
- Low budgeting resources to enhance promotional strategies
- The high price of the product. Higher product price target compared to regular air fryer. Consumers prefer high-quality yet affordable products. The high price may keep away potential consumers who need attention to recognize why the product is expensive. The additional features cause the product to be priced highly.
Opportunities
- Expanding our stores
- Collaborating with retail stores
- There is increasing demand for digital air fryers in the market. Substantial market growth for Air Fryers due to changing consumer lifestyles and adoption of smart kitchen technologies
- Grow customer base by capitalizing on high demand for eco-friendly and energy-efficient solutions
- Expanding online sales.
- Technological advancements
Threats
- Stiff competition from e-commerce retailers like Amazon
- Poor customer reviews
Customer Identification
Our target market will be students, parents, couples, singles, and millennials, ages 15 to 64, who live in urban settings and are looking for efficiency and convenience. People in urban centers carefully purchase sophisticated, appealing, and expensive goods. Because of increasing household and disposable income, the population living in urban areas is more likely to buy air fryers. The working- and middle-class population is driving the demand for cookware, including smart air fryers. Consumers who are conscious about their lifestyle and eating habits demand healthy food and cooking equipment.
In addition, the demand for fat-free food has affected the hospitality industry in a significant way. As a result, restaurants and hotels have shifted towards the adoption of smart cooking appliances. Hospitals have not been left behind, too. Patients’ stringent dietary requirements have caused hospitals to offer low-oil, healthy cooked food, further creating demand for the product. Therefore, our targeted market potential is hospitals, hostels, and restaurants.
The company will sell the offering directly from its stores and online. With most people on social media platforms, increasing our presence and visibility will grow our customer base. The product life cycle will take off quickly owing to the growing demand for air fryers with advanced technological features. The VAL survey reveals a growing and read market for air fryers. In addition, the survey reveals that they are lovers of air fryers and are innovators who seek high-quality cookware to buy. They are into new technologies and seem future-oriented. We aim to sell about 43,000 air fryers by the end of the fiscal year and achieve a 30% profit margin from the sales.
Marketing Mix
Marketing mix refers to a firm’s activities to execute its marketing strategy. Firms use various marketing mix elements to achieve a competitive advantage and differentiated positioning in the market. Product, pricing, place, and promotional strategies are the most commonly employed elements of the market mix.
Product Strategy
The product strategy focuses on the product value offered to consumers. Digital air fryers are associated with efficiency, convenience, reduced cooking times, food texture and flavor consistency, and healthy cooking. SuperSmart Connected Kitchens’ product offerings are Smart Kitchen Appliances such as the Smart Air Fryers that help improve efficiency and convenience by enabling healthy cooking and sustainable living. Air Fryer can help save time and cost while allowing fried food lovers to enjoy a fat-free diet. It has advanced technological features for automation and control. The company has researched digital air fryers and learned consumer preferences regarding air fryers.
SuperSmart Kitchens provides high-quality air fryers that meet customer needs. The company works closely with the supplier to ensure the product meets quality control standards. Aspects of design appearance such as product advantage, detail appearance, styling, and technological features appeal more to consumers. Our target consumers love the styling and technological features of the product. John Mwangi is currently conducting exhibitions in colleges to provide digital air fryers on a promotional basis and create awareness.
Pricing Strategy
Pricing strategy is determined by market forces as well as competition. As mentioned above, SuperSmart Connected Kitchens has identified its specific target market., which includes parents, singles and newly married couples, college students, and millennials between the ages of 15 and 64. The product is priced with competitors in mind, offering a good value against rivals. In addition, the pricing would be determined by the amount we pay the manufacturer, Cuisinart. SuperSmart Kitchens will set a 20% markup on the cost price to generate a profit margin. Additionally, the digital air fryer will sell for $15 more than the regular air fryer due to its additional advanced technological features. Further, the company would offer volume discounts. Customers who buy in bulky would get bulky pricing. Additionally, Air Fryer would be offered at 5% off when combined with one of the company’s other products.
BEP Analysis
Break-even analysis evaluates average cost, fixed cost, and product prices to ascertain the profit margin of a product per price point. The company researched and worked out calculations to determine monthly operating costs. The figures show that the monthly operating cost for the first month would be $2,993, as detailed in the table below. These costs are expected to reduce in subsequent months due to removing some expenses, such as licensure fees.
| Operating Cost (First Month) | Amount |
| Florida State Business Licensure | $62 |
| Insurance Cost | $270 |
| Office Rent | $840 |
| Warehousing | $410 |
| Utilities | $350 |
| Wages | 721 |
| Web designer | $110 |
| Other | 230 |
| Total | 2,993 |
The operating cost for subsequent months is estimated to be in the tune of $2,862. Therefore, the annual operating costs are expected to total 34,475.
First month =$2,993
The next 11 months = 2,862×11= $31,482
Placement Strategy
SuperSmart Connected Kitchens uses both traditional distribution channels and indirect marketing. We share distribution and storage costs with the manufacturer. Our manufacturer is responsible for delivering finished products to our storage facilities while we provide warehousing services. All units will be stored in one warehouse to cut costs and track units sold. From the warehousing, the product will be offered through direct sales and through online. Online orders are delivered to the customer’s door at a fee. Two technical sales representatives will be hired and stationed at the store to provide product demos, answer customer queries, and receive returned products from customers.
Promotional Strategy
The SuperSmart Connected Kitchens will communicate with consumers about air fryers in several ways. It will rely on its YouTube account to promote the product. The company intends to increase its presence on other social media platforms like Facebook, Instagram, and WhatsApp to increase its reach. Additionally, the company will involve influencer marketing by hiring influencers and leveraging their fans. Social media influencers have a large fanbase that can be leveraged to promote our product. Honest product reviews and feedback by influencers influence consumer perception to buy the product. Seeing famous chef use the product as their cooking tool affect the customer’s perception toward the product (Hudders et al. p.154). Product demo in the stores by sales representatives is another promotional strategy the company uses to attract customers
SuperSmart Connected Kitchens sales representatives will visit colleges, hospitals, restaurants, and hotels to promote the product. The one-year warranty is a strategy to build our reputation and consumer trust. Offering a year warranty ensures the customers that our products are of high quality. 30-day Product Recall period: consumers are encouraged to return the product within 30 days of buying if they feel less satisfied with it or if the product is defective.
Promotion Action Plan
| Promotion | Timeline | Responsible Party |
| Research cost for YouTube ads | Jan 4 | Advertising and promotional Manager |
| Research costs for Facebook, Instagram, X, and WhatsApp ads | Jan 5 | Advertising and promotional Manager |
| Set up dates for Exhibitions | Feb 2 to Feb 20 | Advertising and promotional Manager |
| Research cost for influencer marketing | March 5 | Advertising and promotional Manager |
Measuring Success
Sales reports, profit margins, and customer satisfaction surveys will measure whether the business has achieved its goals. Sales reports provide important information on sale volume, costs and revenue for a specified period, and leads. Sales volume measures the performance of sales. Sales data analysis provides forecasts and progress toward goals (Sisakhti n.d). It also identifies how quickly products sell and generate revenue. Managers use sales reports to plan sales strategies and improve sales cycles. A satisfaction customer survey is another tool that can be used to measure success. These surveys provide information about customer perceptions. High customer satisfaction increases sales by helping boost retention and attract new markets. Profit margin measures a business’s profitability (Ranger 41). SuperSmart Connected Kitchens will use the profit margin to determine how the business is performing.
Work Cited
Hudders, Liselot & Chen Lou. The rosy world of influencer marketing? Its bright and dark sides, and future research recommendations. International Journal of Advertising 42,1(2022), 151-161, DOI: 10.1080/02650487.2022.2137318
Ranger, Eon. Mastering Business Strategy: Unlocking Success in the Competitive Marketplace. N.p., First Class Consulting Corporation, 2023.
Sisakhti, Reza. Success in Selling: Developing a World-Class Sales Ecosystem. United States, Association for Talent Development, 2015.
Watson, Stephanie. Do Air Fryers Have Health Benefits? 2023.https://www.webmd.com/food-recipes/air-fryers
Yu, Xina et al. Effect of air-frying conditions on the quality attributes and lipidomic characteristics of surimi during processing. Innovative Food Science & Emerging Technologies, 60(2020), 102305. https://doi.org/10.1016/j.ifset.2020.102305