Prepared For: CedarWorks
Company
CedarWorks is
- Family-owned
- Maine-based
- A company that creates premium outdoor and indoor play sets
They pride themselves on using sustainable and high-quality materials to craft their products.
Target demographic: Middle-class parents
- This market may be especially intrigued by this due to the longevity that it translates to. Parents across the country purchase from CedarWorks; however, most of their market is in New England.
While many consumers view quality materials as a benefit, it also presents a unique challenge as CedarWorks struggles to emphasize the importance of these quality materials. Play structures at a lower price point are CedarWorks’ main competition, particularly given that their children are going to grow. Therefore CedarWorks must convey the benefits of using cedar wood as well as the importance of a quality playset that is infinitely customizable. The longevity of these play structures is key to creating the experiences and memories that come with making the right choice in buying a playset.
SWOT Analysis
Strengths
Customization – Cedarworks allows customers to create the perfect playset for their needs. They offer many standard models that can be bought outright or personalized. They also allow you to create playsets from scratch with their website tool.
Sustainable Materials – Consumers are becoming increasingly pulled towards products that have a sustainable impact on the environment. CedarWorks uses Northern White Cedar, a timber that is native to North America that is processed and used to make their playsets with no harmful chemicals.
Quality Materials – Northern White Cedar is a durable wood only found in North America. This type of wood stands the test of time and doesn’t splinter easily, creating a safer play environment.
Weaknesses
Price Point – CedarWorks
Opportunities:
Growing Demand for Eco-Friendly Products – With rising environmental consciousness, CedarWorks can leverage its eco-friendly materials as a key selling point.
Expansion into New Markets – There is potential to target schools, parks, and other institutions that prioritize quality and durability in play equipment.
Threats:
Competition from Lower-Cost Alternatives – The market is saturated with lower-cost playsets, and many parents may opt for cheaper, less durable products.
Economic Downturn – A weakening economy may make it harder for customers to invest in higher-end, luxury playsets.
Customer
The target demographic for CedarWorks is impacted by several factors, mainly lifestyle and financial standing. CedarWorks is positioned as a luxury product within the play structure industry. Because of this positioning, the target demographic for this brand is middle-class and upper-class parents in the United States. Within this target demographic are two distinct demographics based on their respective financial status: middle-class and upper-middle-class parents. Those in the middle-class category view this purchase as an investment and are focusing on the longevity and adaptability of the product. Because these parents are likely saving up for this purchase, they are more likely to purchase it as a gift for the winter holidays. Upper-class parents can easily afford CedarWorks products and are therefore more focused on the company’s ethics and the status element. Some of these components include the company’s donations to non-profits, the partnerships with the Make-a-Wish program, and the healthy work environment CedarWorks continues to be praised for. Other consumers are purchasing this product as a status symbol due to the luxury positioning of the brand as well as the celebrity endorsement by Drew Barrymore.
CedarWorks has developed a unique buying process. Because CedarWorks offers predominately custom-built play structures, they have chosen not to advertise their prices on their website. This creates an issue within both buyer segments. For upper-class parents, it takes away from the luxury experience of the purchasing process. Instead of purchasing a play structure as a seamless process, you must email the company and wait for a response to get a quote before eventually placing your order. Middle-class parents may feel embarrassed or frustrated at having to reach out to someone for a quote and be forced to have the inevitable awkward conversation about the cost of the play structures and their budget.
Looking into the specific search for CedarWorks using Google Trends, we see a lack of brand awareness outside New England. Maine, Massachusetts, and Connecticut have the most frequent searches, with very little interest outside those areas. This demonstrates a greater interest in playsets outside of New England that needs to be catered to. The buying trends showed a significant increase in purchases around the winter holidays as well as just before summer. Google Trends also provided information about phrases commonly searched with CedarWorks, most of which were regarding pricing.
Context
Google Trends data shows that the general term “playsets” is searched relatively frequently, with significant peaks in early spring and just before the winter holidays. There was also a notable increase in searches during the COVID-19 lockdown, indicating that individuals were searching for activities to entertain their children at home. Insight into the locations that demonstrated the most interest in playsets included predominately warmer or more rural states such as Indiana and Kentucky.
This information provides vital insight into the trends that consumers have created in the past. This information will allow our agency to create a more effective integrated marketing plan that tailors to geographic areas already showing interest in CedarWorks products and playsets in general.
Competitors
Due to CedarWorks’s luxury positioning, competitors are not a prominent concern. Cost-friendly options such as those that can be purchased at Lowes or Home Depot present the biggest competition. With this knowledge, it is important to continue to show CedarWorks as a luxury brand and highlight its longevity and environmental sustainability. This is especially instrumental with middle-class parents as they are more likely to purchase a cheaper alternative than wealthier parents with more disposable income.
References
Cedarworks. (n.d.). Press. Retrieved October 8, 2024, from https://www.cedarworks.com/press
Google. (n.d.). Google Trends: Cedarworks [Data]. Retrieved October 8, 2024, from
https://trends.google.com/trends/explore?date=today%205-y&geo=US&q=cedarworks&hl=en
Google. (n.d.). Google Trends: Playsets [Data]. Retrieved October 8, 2024, from
https://trends.google.com/trends/explore?date=today%205-y&geo=US&q=playsets&hl=en