Company G is a successful leader in the electronics market. We will now take the initiative towards the growth of Company G by introducing a new line of small appliances. Specific focus will be on one particular product aptly named the Champion Juicer.
The Champion Juicer is uniquely designed for the consumer as a high quality, durable product keeping in line with the electronics division. Company G is highly revered in the industry and we will continue on this path with our Champion Juicer. Consumer reviews note deficiencies in our competitor products. With our unique design these concerns have been eliminated. Additionally, we include four color schemes to compliment the consumers existing surroundings adding to the uniqueness of our product. Our design is comprised of a pressurized extractor, ensuring all juice is extracted, two filtering systems sitting on top of a sealed container. This allows the juice to flow directly into the container, eliminating spillage and loss of juice. Company G is well established and recognized in the electronics arena. This is a benefit and will assist with our movement into the small appliance market. Our products offer value in their ability, built with quality materials to withstand stress of long term usage, the convenience of eliminating store bought containers, products with additives, limited color variations and the consumer cost is comparable to our competitors.
“We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.”
The target market for the Champion Juicer is not refined to just one market. We have the athletic groups, health conscious adults and baby boomers, all looking at ways to live a healthier lifestyle. For our product, our main focus is on the health conscious families and individuals.
We will target highly populated cities on the east and west coast as well as larger cities in the Midwest as these areas represents our primary consumers. Women are more likely to establish the purchasing decisions of the household and will be our primary focus in marketing. Women between the ages of 18 – 45 with household incomes of $45,000 and up There is minimal access to the suburbs and the fresh outdoors placing a higher importance on living a healthier lifestyle both as an individual and the family unit as well. This puts a focus on the need to eat healthier, fresh and organic foods. They have busy lifestyles with limited time. Juice fits into the lifestyle by offering freshly squeezed juices containing all the natural benefits, using a variety of vegetables and fruits of their choice, in the combination of their choice, with the elimination of artifical additives and preservatives found in the majority of packaged substitutes.
- Launch Champion Juicer increase revenue 30% within 3 years.
- Initially implement Penetration Pricing for the 1st quarter and increase to our full market price and monitor the progress for increases quarterly for the 3 year period.
-Sold in specialty stores for the first quarter.
-Use various marketing activities to increase demand within the first year.
Competitive Situation Analysis
Champion Juicer is a shopping product. Comparison shopping is included in area of the style, price and quality, all solid in our product. Company G’s credibility in the electronics market will enhance the decision of the buyer.
The competition for this market is minimal for juicers. There are few well-known brands on the current market and these competitors hold the market share equally. Brand image, sense of loyalty are the primary decision for consumer purchase of this product.
Threat from New Entrants
The small appliance arena...