The Benefits Of Smart Home Devices

1610 Words7 Pages
The smart home devices include devices that help make home stay a more enjoyable activity. The paper delves on the discussion of smart home devices. The same paper focuses on the importance of incorporating the economic principles in the marketing of the smart home devices. Economic principles contribute to the successful increasing demand for the smart home devices. Smart Home Devices The smart home is classified as home automation in the purest sense. Several software and completing hardware devices make the life of living within a home more comfortable and safe. One of the popular security (safety) devices is the CCTV camera. The same camera collects in video form the entry or exit of suspected criminal elements. The home owners do not…show more content…
The smart home market segment has unlimited opportunities to increase product-based revenues. The marketing strategy of the competitor in the home automation industry is to continue pouring the latest smart (home) devices into the market (Shapiro & Varian, 1999). With the proliferation of new devices, the current & future clients receive more and more benefits for their dollars’ worth of purchases. To succeed the competitors’ new products are geared towards supplying the special needs of all diverse users. The industry players initially conduct surveys on the most popular needs of the target markets. Next, the industry players research (and) develop new products that offer better features and benefits compared to the features and benefits being currently offered by the competitors within the same smart (home) products market segments. By supply products that fill the most popular economic needs of the present and future customers, there is an increasing demand for the customer-responsive smart (home) devices (Chuan et al.,…show more content…
The partnership includes those brokered between the suppliers and the smart home product sellers. The suppliers of the smart home products include the sellers of the parts used in the production of the smart home devices. The marketing partners of the smart home devices include the stores, malls, hardware stores, construction supply stores, and other entities that sell the smart home devices. The marketing partners of the smart home technology devices include the trucking companies. The trucking companies deliver the smart home technology devices from the production plants of the smart home products to the stores, malls, construction supply stores, and other sellers of the smart home
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