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Mathew Griffin – St20077414 Subject Project – Smoke Alarms Weekly Tutorial – 06/12/2017

Explore the two types of buyers for smoke alarms: Time-Short and Bargain Hunters, the key customer demographics, and the market strengths and weaknesses. Discover potential strategies for reaching the targeted market in affluent Cardiff, catering to varying design preferences and income levels.

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Mathew Griffin – St20077414 Subject Project – Smoke Alarms Weekly Tutorial – 06/12/2017

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  1. Mathew Griffin – St20077414 Subject Project – Smoke Alarms Weekly Tutorial – 06/12/2017

  2. Juliette – Homeware Manager Two types of buyer: Time short and Bargain hunters. Key customers. Sell items at a high price but they get more customers when there’s a sale. Typical Demographic: Mixed gender, 50/50. Cardiff is an affluent city. People look for modern items. Different range of design styles. They remain consistent throughout the year. Different types of customer like different styles. E.g. Older people typically like oak and wood. Younger people perceive it as vintage.

  3. Median UK Income –Provisional Estimates FYE 2017 Ons.gov.uk. (2017). Non-Retired Households - £29,300 (Provisional FYE 2017) Retired Households - £22,400 (Provisional FYE 2017)

  4. Monster Career Advice. (2017).

  5. Median Disposable Income - UK Ons.gov.uk. (2017). £26,300 (FYE 2016) £27,200 (FYE 2017)

  6. Ons.gov.uk. (2017). 15 – 19 - £16,032 20 – 24 - £23,216 25 – 29 - £31,059 30 – 34 - £33,844 35+ - £31,578 Average - £27,146

  7. Evans, T. (2017)

  8. Average First-Time Buyer Age: Cardiff - 32 Fraser, I. (2016).

  9. 1. Aldi 2. Lidl 3. BBC IPlayer 4. John Lewis 5. Dyson 6. Marks and Spencer 7. Yorkshire Tea 8. YouTube 9. MoneySavingExpert.com 10. Apple, Waitrose Sheffield, H. (2016).

  10. 1. YouTube 2. Google 3. Cancer Research 4. Netflix 5. BBC iPlayer 6. Spotify 7. Amazon 8. Heinz  9. PayPal 10. Macmillan Cancer Support Tobin, B. (2016).

  11. Strengths and Weaknesses in the Market - Home security - UK - May 2014 • Strengths • Landlords are required to fit smoke detectors in certain types of accommodation. • Ownership of some types of equipment remains relatively low, indicating scope for increasing penetration into more homes. • People want to keep their homes and families safe from fire or carbon monoxide leaks and so are likely to respond well to marketing of detection alarms. • Weaknesses • Even though ownership of smoke alarms is high, people do not check them regularly to see if they work. So there is more opportunity for self-diagnostics. • Some consumers are given free smoke alarms by local fire services. Competes with consumer sales. While this may be beneficial to the makers and suppliers, it hits the sales potential of retailers/installers. • There is high ownership of smoke alarms so this may mean slow demand for replacements or extras. So the industry should aim to encourage people to trade up to better products and replace existing alarms, as well as to have extra ones around the home. Mintel, (2014)

  12. Internal Market Environment - Home security - UK - May 2014 The 1991 Smoke Detectors Act requires that all new houses built since 1992 must by law have a smoke detector installed. Letting agents recommend smoke alarms connected to the mains, reducing the likelihood that batteries will be removed or allowed to fail by tenants. 27% of alarms in 2011-12 failed to operate. This failure was more prevalent among battery-operated alarms (39%) than mains-powered (19%). The reasons for failure include the smoke failing to reach the alarm (45%) and missing or flat batteries (30% of battery alarms). No alarm in 34% of dwelling fires. So there is an opportunity to encourage households to install their alarms in more suitable places, or to install more than one device. Mintel, (2014)

  13. Sprue Aegis Fire AngeI – Best selling alarm in 2013 (UK), ST-620 Thermoptek . First Alert – World’s largest manufacturer of Smoke and Carbon monoxide alarms, 30 countries, 14 UK retailers. BRK - Professional Standard Dicon – Trade Brand Mintel, (2014)

  14. Target Market 20 – 35. All genders. New house buyers. Rent or buy. Bargain hunter.Brands and income emphasise this. Eye for modern, affordable products. Want to protect home is protected but they want to make sure that its their own. Average income: £20,000 – £30,000 Average disposable income: £15,000 – £20,000 Lifestyle: Work or study 9 to 5. Schedule means that testing alarm is last thing on their mind. Social Media. Streaming. Prominent social life. Issues: Aware of fire safety to an extent. Keep forgetting to test it or they are not aware that it should be tested in the first place. Little experience as they don't know when and how it should be tested. Believe that smoke alarms are unreliable. Wake up. Breakfast. Catch up on current events and social feeds. Prepare to start the day. Get ready for bed. Catch up on social feeds. Work/Study 9 to 5. Focused on work. Socialise with peers. Dinner. Cook/Takeaway. Relax. Go out and socialise with friends.

  15. Where do I go from here?

  16. Bibliography Companies and Products. (2014). Home Security - UK - May 2014. [online] Mintel. Available at: http://academic.mintel.com/display/703884/?highlight#hit1 [Accessed 6 Dec. 2017]. Evans, T. (2017). How rich is your area? Interactive map reveals average disposable income around the UK. [online] thesun.co.uk. Available at: https://www.thesun.co.uk/money/3649334/how-rich-is-your-area-interactive-map-reveals-average-disposable-income-around-the-uk/ [Accessed 5 Dec. 2017]. Ferguson, K. (2017). Interactive map shows spending power of regions of the UK. [online] Mail Online. Available at: http://www.dailymail.co.uk/news/article-4537112/Interactive-map-shows-spending-power-regions-UK.html [Accessed 5 Dec. 2017]. Fraser, I. (2016). Where are the youngest first-time buyers in the UK?. [online] The Telegraph. Available at: http://www.telegraph.co.uk/property/buy/where-are-the-youngest-first-time-buyers-in-the-uk/ [Accessed 5 Dec. 2017]. Internal Market Environment. (2014). Home Security - UK - May 2014. [online] Mintel. Available at: http://academic.mintel.com/display/703878/?highlight#hit1 [Accessed 6 Dec. 2017]. John Lewis. (2017). Home Spring Summer Trends SS17 | John Lewis. [online] Available at: https://www.johnlewis.com/home-garden/home-design-trends/c600003330?rdr=1&intcmp=cp_hom_homeandgarden_smbl1_top_aw17designstyles_x210817 [Accessed 5 Dec. 2017]. Monster Career Advice. (2017). Average Salary Information for the UK. [online] Available at: https://www.monster.co.uk/career-advice/article/uk-average-salary-graphs [Accessed 5 Dec. 2017].

  17. Bibliography Cont. Ons.gov.uk. (2017). Household disposable income and inequality in the UK - Office for National Statistics. [online] Available at: https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/householddisposableincomeandinequality/financialyearending2016 [Accessed 5 Dec. 2017]. Ons.gov.uk. (2017). Nowcasting household income in the UK - Office for National Statistics. [online] Available at: https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/nowcastinghouseholdincomeintheuk/financialyearending2017 [Accessed 5 Dec. 2017]. Ons.gov.uk. (2017). UK average income by age bands - Office for National Statistics. [online] Available at: https://www.ons.gov.uk/aboutus/transparencyandgovernance/freedomofinformationfoi/ukaverageincomebyagebands [Accessed 5 Dec. 2017]. Sheffield, H. (2016). The UK's 10 favourite brands from Yorkshire Tea to BBC iPlayer. [online] The Independent. Available at: http://www.independent.co.uk/news/business/news/bbc-iplayer-yorkshire-tea-and-dyson-top-list-of-the-uks-favourite-brands-a6808736.html [Accessed 5 Dec. 2017]. Strengths and Weaknesses in the Market. (2014). Home Security - UK - May 2014. [online] Mintel. Available at: http://academic.mintel.com/display/703881/?highlight [Accessed 6 Dec. 2017]. Tobin, B. (2016). YouGov | YouTube is highest rated brand among 18-24s, as streaming services dominate. [online] YouGov: What the world thinks. Available at: https://yougov.co.uk/news/2016/07/21/youtube-highest-rated-brand-among-18-24s/ [Accessed 5 Dec. 2017].

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