Marketing Plan for Markstrat

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  • Topic: Marketing, Noble gas
  • Pages : 6 (1638 words )
  • Download(s) : 324
  • Published : April 18, 2013
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Executive Summary
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As the marketing team for AY, we have developed an effective marketing strategy that has led to our current lead in stock market price and overall revenues. Our current phased strategy of capturing three market segments with three distinct products will extend our market dominance and provide long term stability through diversification. * -------------------------------------------------

In the initial phase, each of our Sonites are targeted to specific, growing groups in the market: SYGU to Singles and SYCA to High Earners. By focusing our advertising dollars to these segments, highlighting features they desire, and concentrating our sales people to the places they like to shop, our Sonite market share has increased from 18.5% to 27.7%, with SYCA notably doubling its overall market share from 8.9% to 16.6%. Every two periods Research and Development (R&D) will deliver enhancements that will retain market dominance by updating the products to suit customer desires. * -------------------------------------------------

Our secondary strategy involves entry into the Vodite market. To capture the potential long term growth and profitability in the Vodite market, VTYL was developed and will be released in Period 3. VYTL will capture a majority market share of Early adopters through a blended marketing effort targeted towards early purchase intention from Innovators and brand awareness for Early Adopters. In Period 5, a newly developed VYTL will be released to target the desired qualities of Early Adopters, leveraging the built-up brand awareness. * -------------------------------------------------

Our existing strategy has led to market success, and our current market leadership gives us a strategic advantage in execution in these three strategic markets. Based on our projections of marketing impact, market growth, and purchase intentions, the Vodite and Sonite strategy will result in a Net Market Contribution of $79,416K in Period 3, and a Net Market Contribution of $97,845K in Period 4. * -------------------------------------------------

This marketing strategy is clear, focused, well researched, and will lead to continued success and market leading revenues. * -------------------------------------------------

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High Level Strategy
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Our marketing strategy focuses on three distinct products: SYGU, SYCA, and VYTL. These three product lines are each targeted to specific market segments based on the size of segments, the wants of particular segments, and how closely our initial product characteristics matched the desired characteristics of the targeted segment. SYCA is focused on dominating the profitable High Eearners market, which is projected to grow to 489K individuals in five periods. Next, SYGU will capitalize on the long term market growth of Singles, which are projected to grow to 600K individuals in five periods. Finally, VYTL will move as quickly as possible into the Vodite market to capture the Early Adopters and Followers market. The Vodite market has an extremely attractive growth potential and is projected to have 1,201K potential customers in 5 periods. * -------------------------------------------------

Product Segments
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The High Earners market is top priority with a high margin potential, and a 156.6% anticipated growth over the next five periods. SYCA has good initial positioning and has successfully been targeted to the High Earners market, with SYCA having a 63.6% purchase intention for Period 3. The High Earners have three major qualities in mind according to Semantic scales: Power, Cost, and Design. SYCA started out with good...
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