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Marketing and Product Essay

Decent Essays

Company G

3-Year Marketing Plan

Valerie Wilson

000236748

05/20/2013

Table of Contents

Introduction 3
Mission Statement 3
The Product 3
Consumer Product Classification 3
Target Market 3
Competitive Situation Analysis 4
Analysis of Competition using Porter’s 5 Forces Model 4
SWOT Analysis 4
Strengths 5
Weaknesses 5
Opportunities 5
Threats 6
Market Objectives 6
Product Objective 6
Price Objective 6
Place Objective 6
Promotion Objective 7
Marketing Strategies 7
Product Strategies 7
Price Strategies 7
Place Strategies 7
Promotion Strategies 7
Tactics and Action Plan 8
Product Action Plan 8
Price Action Plan 8
Place Action Plan 8
Promotion Action Plan 8
Monitoring Procedures 9

Introduction …show more content…

Several threats exist. Company G is a well-established and respected company. Although this is a factor, rival companies eager to capitalize exist. Companies will make product closely resembling Company G’s and may offer at a lower price or with more incentives. Market growth will not be slow and low fixed cost to produce item will decrease rivalry. Since customers somewhat easily and freely switch from one product to another, this will increase rivalry. There are quite a few rivals in the same market.

Threat from New Entrants : Threats to company G success are possible. New companies may enter the market, looking to take advantage of producing a product to challenge Company G’s product. They may have access to lower cost distribution, which in term may offer their product at a lower cost. Startup is not that expensive, which may encourage new entrants.

Threat from Buyers : There could be a possible threat to Company G’s success from the buyers, depending on how they react to the new product. Buyers may not embrace the technology . some may not feel comfortable with the new product or the pricing of item. Buyer volume may at times be slow. Also, consumers may be a little hesitant with purchase because this product is a little pricier than the substitute product that may become available.

The threat is not that significant because consumers are always looking for new and innovative products on the market. People

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