3-Year Marketing Plan
Assessment Code: MKT1
Student Name: Jaime Persinger
Student ID: 000209646
Mentor Name: Indria Woods
Table of Contents
Consumer Product Classification3
Competitive Situation Analysis4
Analysis of Competition using Porter’s 5 Forces Model4
Tactics and Action Plan9
Product Action Plan9
Price Action Plan9
Place Action Plan9
Promotion Action Plan9
Company G offers high quality, cost effective, reliable products that will improve the lives of consumers. The company has created a place in the industry by creating new and exciting electronics. Company G strives in meeting a goal of guaranteeing customer satisfaction. We believe our new computer phone will allow consumers to enjoy the convenience of working on the computer and not missing a phone or having to stop what you were doing to answer the phone.
“We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.”
The features of the computer phone include a wireless laptop, built in webcam and microphone, speakers, medium in size for portability, light weight, 10 hour battery, power cord, USB outlets for other devices to plug into computer, and easy to operate keyboard with built in mouse. All incoming and outgoing telephone calls are done directly from the computer. The microphone lets you talk to the person on the line, the speakers allow you to hear what they are saying, and the webcam allows you to see the person on the other end of the phone call. You can go anywhere with this new computer never miss a phone, never get interrupted, and still be able to do your work all at the same time.
Consumer Product Classification
Our focus is on business individuals who are always on the go, which includes men and women typically between the ages of 25 and 60. Majority of our consumers work full time jobs, have children, busy schedules, and many appointments. We want to make life easier when they are on the go and ensure they never miss an important meeting, game, or appointment. We will market to businesses as well as consumers who look for value in the cost of electronics as well as their functions. The consumers purchasing our product typically have a limited amount of space for many different products and will be looking for a product that can combine a variety of their electronic needs all in one device.
Competitive Situation Analysis
Analysis of Competition using Porter’s 5 Forces Model
Competitive Rivalry -The amount of products available shows that rivalry intensity is high. High intensity rivalry includes competitors that aggressively target each other’s market and pricing of products. Competitors are equal in size, market share and industry growth is slow, and fixed costs are high which creates competitive rivalry. Companies such as Dell, Apple, and Microsoft are among the list of rivalries for the company.
Threats from New Entrants -Threats from new entrants are low. The reason behind this is because of the upfront capital investments required to start this type of business. New entrants may be able to duplicate a similar product at a lower cost, but these are not seen as a major threat to the company. Distribution channels are difficult to access which causes low barriers of entry. The internet has very little impact because of high technology development costs and manufacturing costs.
Threat from Buyers –There is...