MARKETING PLAN

Marketing Plan of Company G



Contents

INTRODUCTION1

COMPANY G1

TARGET MARKETS1

PORTER 5 FORCES ANALYSIS2

Threat to competition2

The threat of new entrants2

The threat to the bargaining power of suppliers.3

The threat of substitute products3

MARKET DEMOGRAPHICS3

Geographic3

Demographics3

Psychographic Factors4

MARKET NEEDS4

SWOT ANALYSIS4

Strengths4

Weaknesses5

Current or Potential Opportunities5

Current or Potential Threats5

MARKETING OBJECTIVES6

MARKETING STRATEGIES6

Product strategy6

Pricing strategy6

Placement strategy6

Promotional strategy7

TACTICS AND ACTION PLAN7

Financial Objectives7

Positioning7

Segmentation7

MONITORING PROCEDURE8

REFERENCES9

Marketing Plan of Company G

Introduction

The aim and objective of this assignment is to devise a marketing plan for Company G which includes analysis of porter's five forces for the business environment, target market situation, and developing a market driven consumer strategy for the new product of company G that is a Toaster. Moreover this assignment will include SWOT analysis of the company, distribution channel for the proposed marketing strategy, successful promotion strategy and a consolidated marketing plan. Furthermore, this assignment will also cover monitoring and control activities which will be in accordance with the marketing plan.

Company G

The chief objective of the company G is to provide the superior quality appliances at the best affordable prices to the consumers. Technology advancement has increased the standard of life. With this in mind, Company G has developed a high-quality and durable toaster which is the need of every individual. The Company G not only focuses on their technologies but also focuses on their quality.

Target Markets

Company G is a renowned firm that is highly regarded in the electronics market. The target market of their new electronic toaster includes individuals, households, college students and people living alone. It is a basic product and is a need of everyone. The target market for this product is very vast; therefore, the company has advantage in the competitive market due to its brand name. The use of toasters is mainly in the homes. House wives are the main target of the company G. Moreover, Company G will also cater individuals living alone, university or college students living in hostels and people living bachelors. All the age groups come under the target market. The initial launch will take place in U.S. only and company will focus on attaining the market share in the first phase, then move to expand their product in different countries.

Porter 5 Forces Analysis

Threat to competition

It may be more important if the input is facilitated. There is the threat of product substitution, and that of suppliers and customers who try to control the electronic market. That is why we always see the center of the diagram.

The threat to the bargaining power of customers

It is important where there are few large market players (e.g., large grocery chains)

There are a large number of small undifferentiated providers (e.g., small enterprises providing appliances)

The cost of switching is low.

The threat to the bargaining power of suppliers.

The bargaining power of suppliers tends to be inversely proportional to the clients.

The cost of switching is high (e.g., change of provider services)

Power is higher if the brand is important in its sector (e.g. Black & Decker etc)

The threat of substitute products

There is substitution of one product by another (e.g., email replaces the ...