Nest Smoke Detector Project Essay Example | Topics and Well Written Essays - 1500 words

Nest Smoke Detector Project - Essay Example Nest has attempted to create a smoke detector with a brain. The Protect is aimed at replacing the common traditional alarm systems as a smarter and technologically advanced device. The Protect has many distinctive features which gives it much competitive advantage over any other traditional smoke detector. The Protect has the feature of alerting the user via a Smartphone as well as by glowing with a green light when battery is full and yellow light when it has to be charged. This replaces the traditional beeping alert on low battery for security alarms. The company has carefully applied the marketing mix in the development and introduction of the product. Product: For developing the right product, Nest has taken up a perfectionist approach. It has also pursued a restrained product development strategy, similar to the strategy used by Apple. The Protect has been launched as a consumer friendly, high innovation smoke detector alarm system. The Protect has been designed with a balanced blend of emotional and rational thinking. The product is enabled with different new features which will solve many of the problems that the consumers have been facing for decades with the traditional smoke detectors. The look of the product is designed to be attractive and compact. The Protect is precisely an intelligently reinvented product.Place: The Protect is aimed at adding to the already accelerating growth of the company. The company has launched the Protect in a hugely crowded market. The Protect has been made available for selling in more than 5000 retailers. The product has been made available for sell in reputable electronic stores like Best Buy, Amazon, Home Depot and the Apple stores (Bloomberg, 2013). The market place for smoke detector alarms is getting more crowded and there are different types of smoke detectors available from a number of companies in the market. Price: The Protect is very highly priced at $129 per piece compared to the price of the prevalent smoke detectors in the market which can be bought at an average price of $30. Though the Protect is loaded with advanced functionalities, still at $129 it is considered overpriced and is positioned as a more novelty product than a conventional smoke detector. But the company has weighed the price of the Protect carefully. The high price has been set keeping in mind the pattern of consumers paying a much higher price for a better technology and better performing alternative of a