Any commercial company looking to be a success will have a product strategy or actionable plan that marries its day-to-day operations with long-term goals. This is especially true in the lighting fixture market. There is strong competition for a share of the $142 billion consumer spending in this home improvement and home decor sector. And, when you consider the intense downward pricing from imports, the consumer’s demand for energy-efficient product lines, and the rapid evolution of new technologies, staying competitive is the key to success.
Alex Ostrovsky has spent decades bringing elevated technology to the commercial consumer goods industry as an expert in both ceiling fan and lighting product marketing. As the National Accounts and National Sales Manager for Fanimation, a leading supplier of innovative and stylish ceiling fans, he led the company’s e-commerce strategy for Amazon, Wayfair, Build.com, and specialty lighting retailers. Currently, Ostrovsky is Executive Director of Business and Product Development for Smart Fans at Modern Forms, where he is tasked with developing product strategies and execution protocols for the company’s smart home cooling and lighting product lines.
Competitive strategies that meet customer demands
Lighting product strategies that meet consumer trends
The current trend in both commercial and residential lighting has shifted from buying minimal functioning ceiling fixtures to investing in complete lighting and cooling solutions. Even in the workplace, the trend is toward holistic lighting and ventilation that supports employee mood, health, and productivity. To meet the demand of many consumers, companies must consider lighting solutions that are not only feature-rich but also stylish or artistic to meet the property owner’s personality or custom decor.
Alex Ostrovsky believes companies can remain competitive when they consider product strategies that highlight the ceiling fan and/or light fixture’s unique features. Today’s lighting products may feature advancements such as whisper-quiet operation, aerodynamic blade designs, or smart home integration. It is necessary to distinguish the product line from the competition by marketing an enhanced human experience that delivers both comfort and convenience to the end-user.
Winning the smart home lighting competition
As a product strategist at Modern Forms, Ostrovsky’s long-standing track record of driving growth is key to improving the company’s market share in the smart home lighting product sector. The company’s lighting collections stand out from the competition by answering the demand for high-end, modern fixtures that feature cutting-edge smart home technology. In this highly competitive business landscape, Alex is tasked with shaping a product marketing strategy that boasts high-quality materials, smart home connectivity, and ultra-modern designs.
Ostrovsky believes that for some companies to be competitive, they should consider a targeted and focused strategy that meets a niche customer base, instead of a wide-ranging product line. For example, home owners and CRE owners who desire energy-efficient solutions, luxury designs, and/or smart lighting automation. Smart home lighting systems that use sensors to monitor occupancy and energy usage will continue be a competitive market well into the future.
The strategy of differentiation in lighting product lines
The low-cost, import markets don’t compete with the high-end lighting fixture industry because they cater to different consumer needs, including price points and value propositions. Niche product lines such as energy-saving solutions, decorative fixtures, home security solutions, and smart technology, which may include IoT products that connect sensors, software, and Bluetooth-capable devices, are another way to distinguish a company from the competition.
Alex Ostrovsky believes these types of product strategies are essential for business success by creating a more precise vision that can be translated into actionable plans. Product strategies can create brand differentiation in a market that is characterized by intense price competition. When product decisions are customer-centric, it can keep teams focused on not just combining features, but solving real-world user problems.
