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Current Market Conditions Competitive Analysis University of Phoenix ECO 365

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CURRENT MARKET CONDITIONS COMPETITIVE ANALYSIS 2 Current Market Conditions Competitive Analysis The company of YETI coolers has given the outdoor industry a new meaning to innovative products. YETI... coolers had a frustrating beginning with creating a product recognized for durability instead of discount retailers. Two brothers named Roy and Ryan Seiders designed the YETI cooler, they were inspired by the desire to enjoy outdoor activities with their father and family. Roy and Ryan Seiders are the founders of YETI coolers in Austin, Texas, which changed the perception and quality of outdoor lifestyle products in 2006. (YETI, 2016) The beginning process of creating such a durable cooler for outdoor usage was frustrating to start but proved to be efficient and effective in the long run. Roy and Ryan Seiders wanted to create a product that would appeal to consumers who shared the same passion for outdoor activities and demanded a better quality cooler for everyday use. Our Story Roy and Ryan Seiders learned the interest of entrepreneurship from their father being a teacher turned entrepreneur himself. (YETI, 2016) The YETI cooler was produced to withstand the test of outdoor activities including fishing, hunting, and other everyday uses without breaking down from wear and tear. YETI Coolers use a one-piece construction similar to the material used on whitewater kayaks to withstand the pressure of multiple applications. The material used on the YETI cooler could be dropped, kicked, and put through much more without the concern of the cooler itself becoming damaged or broken from consistent wear and tear. The damage and breaking of a cooler are considered frustrating for an outdoor enthusiast who purchased a cheap cooler for forty dollars with competitors like Rubbermaid, Coleman, and Mammoth for a quality cooler. Coolers created from competitors were produced with a less durable material of plastic. In some cases, coolers are known to be made from the metal steel, but that attribute did not appeal to consumers when transpo [Show More]

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