TITLE:
Ripe & Ready KitchenAid Appliance
AUTHORS:
Rasha Ali Mueed Alshehre
KEYWORDS:
KitchenAid, Appliance
JOURNAL NAME:
Open Journal of Business and Management,
Vol.8 No.1,
December
17,
2019
ABSTRACT: Time and time again, people have expressed their
frustrations regarding spoiled produce. Most claimed that they did not realize
the food had passed its ripest stage or that it would expire before they had
the chance to consume it. From there, I identified an opportunity to solve the
lack of knowledge consumers have regarding the ripeness of their fruits and
vegetables. The target market is identified as health-conscious young
professionals living in the US, between the ages of 25 and 34. There are over
41 million men and women in this age group (US Census Bureau). Most are single
purchasers in such a way that a lot of what they spend goes to their own food
consumption. Those with at least a bachelor’s degree have an average salary of
$51,000 and will have more discretionary income than other possible market
segments REF
_Ref27118197 \r \h [1]. I developed a countertop kitchen appliance and
formed a brand alliance with KitchenAid to solve the need for food waste
reduction. Appliances seamlessly fit in with consumers’ usage of produce, which
predominantly occurs in the kitchen. Using ethylene detecting sensors in a
device with similar dimensions as a blender, consumers will be able to figure
out the stage of ripeness of their fruits and vegetables. Not only will our
product tell consumers when produce is ripe or not, but it also includes a
feature that indicates how many days are left until something is ready to eat.
The product only works for fruits and vegetables that release ethylene gas
because that is what the sensors detect and use to inform the consumer. Forecast
sales within the first-year total 806,907 units at a retail price of
$249.99. My net income in the first year will be $15,445,454.87. With an
initial investment of $24,350,000 due to fixed costs and a large advertising
budget, the forecasted payback period is 1.57 years. After a year and a half,
it will contribute to KitchenAid’s net income, increasing the appeal of the
product.