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Essay / Starlight Stove Case Study - 1173
Wanting to meet everyday consumer needs for safe cooking and electricity for people living in provincial societies, Bright Light Innovations at Colorado State University developed a new product in which its business management team and engineering students considered a definitive solution through their revolutionary product called Starlight Stove. After identifying the daily problems people face in third world countries, the Bright Light Innovations team then identifies Nepal as its opening target market; in the hope that the Starlight Stove can improve the quality of life and well-being of those less fortunate. To benefit the lives of Nepalese people, the Starlight Stove features the unique ability to convert heat. When it comes to price, they need to find other ways to make the product more affordable than just microfinancing. Because this product was conceptualized with such noble reasons, they were able to present the award in the same noble material. If the product is first presented as free samples to entice their target market to accept their innovative product, not only can they promote the number of consumers who can purchase their product (and through the many financing options in which they can), the company can also increase product awareness and exposure for promotion. While this may initially come at a cost to the company, to generate more funds to achieve such a thing, Bright Lights Innovation can reach out to higher income countries who can potentially help invest in it through online promotion and social media. As a student company, promotion can be made easier thanks to the large network they already have. Further in time, Bright Light Innovations can hire experienced and well-trained staff to translate, teach and ensure customer satisfaction regarding the Starlight Stove in the international market. When it comes to space, they need to establish adequate distribution centers in Nepal as well as a distribution network in order to transport the goods internationally. To start, the company could ask the Nepalese government which distribution networks to use, and/or perhaps appeal to global organizations such as Peace Corps. make the product as accessible to consumers as the company needs it to be. Nonetheless, the Starlight Stove opens the door for Bright Light Innovations students to truly show the importance of execution for success.