Marketing Plan.docx - Company G 1-Year Marketing Plan...

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Company G 1-Year Marketing Plan Student Name: Erin L Hayden Student ID: 000909784 Date: 12 August 2019 Student Mentor Name: GK Morrell v. 201103
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Table of Contents Introduction ................................................................................................................................................. 3 Product Description and Classification ........................................................................................................ 3 Company G Mission Statement ................................................................................................................... 3 Consumer Product Classification .............................................................................................................. 3 Target Market .............................................................................................................................................. 4 Competitive Situation Analysis .................................................................................................................... 4 Analysis of Competition using Porter’s Five Forces Model ....................................................................... 4 SWOT Analysis ............................................................................................................................................. 5 Strengths ................................................................................................................................................. 5 Weaknesses ............................................................................................................................................. 6 Opportunities ........................................................................................................................................... 7 Threats ..................................................................................................................................................... 7 Market Objectives ....................................................................................................................................... 8 Product Objective .................................................................................................................................... 8 Price Objective ......................................................................................................................................... 8 Place Objective ........................................................................................................................................ 8 Promotion Objective ................................................................................................................................ 8 Marketing Strategies and Implementation .................................................................................................. 8 Product Strategies ................................................................................................................................... 8 Price Strategies ........................................................................................................................................ 8 Place Strategies ....................................................................................................................................... 8 Promotion Strategies ............................................................................................................................... 9 Marketing Implementation .......................................................................................................................... 9 Product Action Plan ................................................................................................................................. 9 Price Action Plan .................................................................................................................................... 10 Place Action Plan ................................................................................................................................... 10 Promotion Action Plan ........................................................................................................................... 10 Monitoring Procedures .............................................................................................................................. 10 v. 201103
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Introduction Company G is a company dedicated to making innovative products for a broad spectrum of consumers who are looking to enhance their quality of life. Company G strives to ensure it consumers will exhibit brand loyalty once they purchase a Company G product like the all new smartwatch accessory the PowerBand. Product Description and Classification Company G Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high- quality, innovative electronics solutions.” PowerBand is a watchband style backup battery that fits on to any current smartwatch on the market, the PowerBand has a built-in connector so you can give your smart phone a charge up to 50% (dependent on usage) when you are not in range of a power source. PowerBand comes in multiple designs from premium leather, metal and mylar plastic, each PowerBand has a hidden connector that will plug in to the consumers smart phone providing an on the go charge. PowerBand is ideal when just do not have time to sit around waiting for your smart phone to charge or in an emergency and your smartphone battery is dead. PowerBand falls squarely in line with our mission statement by providing a product that will enhance the quality of life for our consumers by providing extra battery life when they are on the go and cannot stop to charge their smartphone or carry the added weight of a portable battery. The PowerBand blends seamlessly into your smartphone and your wardrobe by offering a wide array of materials and band designs. Consumer Product Classification The PowerBand is classified as a shopping product. PowerBands blends in seamlessly in to a product the consumer is already wearing and will allow personalization, customers will want to take time on selecting a band that fits their style, attitude and function. Due to the nature of some of the PowerBands ranging from $40.00 to over $1000.00 customers will make sure that their purchases are well informed prior to buying a PowerBand. PowerBand will be sold in all markets from mall merchants (i.e. Hot Topic/Spencer’s) to high end merchants that specialize in luxury items (i.e. Coach/Gucci/Prada).
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