Background chchh equipment. Concentrations of VOCs are typically higher in indoor than outdoor environments, and exposure...

  

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Background chchh equipment. Concentrations of VOCs are typically higher in indoor than outdoor environments, and exposure to VOCS has been linked to a range of short- and long-term health conditions, including allergies, aggravation of asthma symptoms, throat irritation, and even cancer. Moreover, VOCs are typically too small to be captured by many air purifiers, such as those with HEPA filters. Product Neoplants - a biotech startup - has developed the Neo P1, a bioengineered variant of golden pathos, a common indoor plant. The Neo P1 has been designed to capture and safely recycle four of the most dangerous VOCs commonly found in indoor environments: formaldehyde, benzene, toluene, and xylene. Product design According to Neoplants, the Neo P1 is 30 times more effective at removing the four target VOCs (formaldehyde, benzene, toluene, xylene) than regular plants. To enhance VOC removal, the Neo P1 also comes with a special soil containing harmless bacteria and fungi that have been bioengineered to turn VOCs into safe compounds, such as sugar and amino acids. Each month, owners are encouraged to add specialised Power Drops to the soil to replenish the bacteria and fungi needed to maximise VOC removal. The Neo P1 is sold in a specialised container that: - Is designed to maximise airflow around the plant, allowing it to more effectively remove VOCs from the surrounding air. Features an internal water tank with inbuilt water level indicator to make it easier for owners to maintain the plant. The internal water tank means that the Neo P1 only needs to be watered every 2-3 weeks. Is made from a mix of polylactic acid and flax, which reduces fossil fuel use by 20- 50% relative to conventional plastics. For every Neo P1 sold, Neoplants will invest a minimum of US$20 in further research and development aimed at using their bioengineering efforts to address climate change. Product positioning The Neo P1 is targeted at consumers interested in health, wellness, and interior design. Product pricing Each plant is priced at US$179 (approx. AU$270). The cost of the Power Drops has not yet been announced. Question 3. Background The Neo P1 has a high price point (approx. AU$270) compared to non-bioengineered golden Rothos plants, which can sell at Bunnings for AU$6 - AU$25 depending on their size. Marketing strategy and justification - 20 marks Develop a strategy that could be introduced to reduce the likelihood that buyers of the Neo P1 will experience post-purchase regret. As part of your answer, explain how and why this strategy will reduce the likelihood that consumers will experience post-purchase regret. Background chchh equipment. Concentrations of VOCs are typically higher in indoor than outdoor environments, and exposure to VOCS has been linked to a range of short- and long-term health conditions, including allergies, aggravation of asthma symptoms, throat irritation, and even cancer. Moreover, VOCs are typically too small to be captured by many air purifiers, such as those with HEPA filters. Product Neoplants - a biotech startup - has developed the Neo P1, a bioengineered variant of golden pathos, a common indoor plant. The Neo P1 has been designed to capture and safely recycle four of the most dangerous VOCs commonly found in indoor environments: formaldehyde, benzene, toluene, and xylene. Product design According to Neoplants, the Neo P1 is 30 times more effective at removing the four target VOCs (formaldehyde, benzene, toluene, xylene) than regular plants. To enhance VOC removal, the Neo P1 also comes with a special soil containing harmless bacteria and fungi that have been bioengineered to turn VOCs into safe compounds, such as sugar and amino acids. Each month, owners are encouraged to add specialised Power Drops to the soil to replenish the bacteria and fungi needed to maximise VOC removal. The Neo P1 is sold in a specialised container that: - Is designed to maximise airflow around the plant, allowing it to more effectively remove VOCs from the surrounding air. Features an internal water tank with inbuilt water level indicator to make it easier for owners to maintain the plant. The internal water tank means that the Neo P1 only needs to be watered every 2-3 weeks. Is made from a mix of polylactic acid and flax, which reduces fossil fuel use by 20- 50% relative to conventional plastics. For every Neo P1 sold, Neoplants will invest a minimum of US$20 in further research and development aimed at using their bioengineering efforts to address climate change. Product positioning The Neo P1 is targeted at consumers interested in health, wellness, and interior design. Product pricing Each plant is priced at US$179 (approx. AU$270). The cost of the Power Drops has not yet been announced. Question 3. Background The Neo P1 has a high price point (approx. AU$270) compared to non-bioengineered golden Rothos plants, which can sell at Bunnings for AU$6 - AU$25 depending on their size. Marketing strategy and justification - 20 marks Develop a strategy that could be introduced to reduce the likelihood that buyers of the Neo P1 will experience post-purchase regret. As part of your answer, explain how and why this strategy will reduce the likelihood that consumers will experience post-purchase regret.