First:
BillerudKorsnäs announced that it plans to invest $1 billion to converting one of Verso’s largest facilities in Michigan to entirely produce paperboard. (Yahoo!Finance, 2021). I’m assuming at this cost, they intend to install entirely new machines and tie into the company’s existing pulp mill, waste and water treatment facilities. That makes sense because the permits to establish new water and waste treatment facilities makes barriers to entry extremely difficult for companies that want to build a new plant at a new site.
Paperboard is brown packaging paper that is thicker than ordinary paper and can be converted to finished products like corrugated card board, paperboard tubes or container boxes (BillerudKorsnäs, 2022). Many paper companies are actively seeking out ways to phase out of their old product lines because of decreasing demand and venture into production of a product that is currently in demand and with expected growth. I proposed that shipping paper was a good product to steer towards because of the rise in internet ordering and shipping in general. As paper mills have continually faced declining markets in recent decades, it is no wonder that companies are rapidly turning to produce varied products with existing facilities.
Pitney Bowes is a company that tracks and measures parcel volume around the world using their “Pitney Bowes’ Parcel Shipping Index” (Pitney Bowes, 2022). Pitney Bowes measured that 131 billion packages were shipped globally in 2020 and they project that to double by 2026. They project this by looking at the last seven years of shipped parcels that showed a compound annual growth rate (CAGR) of 21% and a continued upward trend (Pitney Bowes). . Companies like Verso can then use this information to see an increased demand for packaging paper and paperboard.
Post 2:
Susannah:My chosen business product is a top-notch Nike stroller that offers a built-in workout tv with a one-year membership to the Nike Training Club (NTC). Not only will loyal consumers be surprised and likely excited to see a new niche product at Nike, but the product innovation will exceed expectations. With a considerable amount of research and development committed to the style of the stroller, both new and long-time consumers will be attracted to the ease of use of the stroller in addition to the built-in workout tv element. The service the stroller provides is unique and attractive to new young Mom’s that are looking for motivation to get back into shape while getting their kids outside. The variety of maternity classes the NTC will offer will be exceptional, aligned with the product itself and both the vision and purpose of Nike. Nike’s “purpose is to move the world forward through the power of sport – breaking barriers and building community to change the game for all” (Nike, 2021). Nike technology and innovation are key initiatives that define Nike products; the Nike stroller is like no other product on the market globally.
A key differentiator is the addition of technology to a stroller. Stevenson (2021) says, “many productivity gains in the past have come from technological improvements” (p. 60). Why stop at a simple jogging stroller when Nike technology can make it so much more? “Technological advancements in baby care products in the form of multi-functional features and customization as per parent’s requirements is a key factor driving demand for baby strollers” (Grand View Research, 2019). I believe this new Nike stroller will far exceed expectations through the addition of the workout tv offering a membership to NTC. Not only is this an immediate differentiation and attraction for consumers, but it encourages long-lasting commitment from consumers who will find comfort in their new workout routine at NTC and will choose to stay members well after the stroller has been retired.
“The market is saturated with all different types of models and prices that vary widely” (Earley, 2020). However, there is no stroller that offers a built-in workout option. In the face of global competition, Nike would be at the cutting edge of fitness innovation for the consumer that they’ve only just begun to cater to. There is an opportunity for Nike here that could potentially unlock lifetime loyalty and excitement from women that have not received much attention from Nike. The differentiation will attract new consumers while deepening the loyalty of current consumers that are going through a life change.
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