Company G - Three Year Marketing plan

Company G - Three Year Marketing plan

Introduction

The appliance chosen from the new line of small appliances from Company G is a battery powered SmartWatch which looks like a normal wrist watch, but in reality is far much more than just an ordinary watch. It has features such as WiFi, a LED display, a MicroUSB connector which allows data to be transferred to it from any computer, as well allows the SmartWatch to be charged. It has a voice detection feature where a user can activate his voice on watch. It has an internal memory of about 5000 songs and software which allows the user to be connected to all the happenings on their social media round the clock. The watch has a Bluetooth which syncs with the mobile phone of the user and allows all text updates, mails and other notifications to be displayed on the watch's display.

Discussion

Product Support of Mission Statement

Part A

This appliance fits in well with the mission of Company G as their goal is to enhance the quality of their consumer's life by providing technologically advanced products which provide innovative solutions for daily issues. This SmartWatch is a unique idea where a customer can check all of their text messages, mails and social media updates with a few voice commands. Considering the utterly busy life of today, this gadget can largely safe valuable time and effort of the users. This appliance is innovative because its like wearing your cell phone on your wrist. Moreover, it would largely cut any physical efforts on the part of the user as it can be entirely operated by the voice commands. Though, the user may also operate it with the buttons present on the either side of the watch, but it would completely depend on the convenience of the user.

Part B

The three way consumer classification system divides the consumer goods into three specific categories (Bucklin, 1963). Anything that is bought by consumers for personal usage can fall under the definition of consumer goods. These goods can further be divided into three categories depending upon their salient features which include the frequency and complication in the purchase process, the price and importance of the product. Thus, keeping these factors under consideration, Company G's product would fall under the Shopping Consumer Goods category. This is because shopping consumer goods are those goods which involve a lengthier selection and comparison process on the basis of costs and competitive offerings in the market. Before buying such appliances, customers usually tend to scan the market for competitive offerings and evaluate if the price they are being charged for a particular brand is worth for the features it has. Therefore, Company G's products fall under the shopping goods classification system.

Target Market

The target market for Company G's product would be technology savvy individuals who like to stay updated with the state of the art technology. It can include Individuals who prefer high quality small appliances at an affordable ...