Strategic Marketing Plan for Fisher & Paykel in China

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  • Topic: Marketing, Household income in the United States, Customer service
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Fisher & Paykel Appliances
Strategic Marketing Planning Report
School of Marketing and International Business

(MARK 311)
Lecturer: (Peter Thirkell & Martyn Gosling)

Submitted by:
Penghui Zhang
ID: 300181135
Tutor: Martyn Gosling

Date of submission: 4/10/2010
Word Count: 3987

Executive Summary

New Zealand based appliances manufacturer Fisher & Paykel has chosen the Chinese Appliances Market for product penetration as a part of their global expansion plan. Considering the fierce competition within the Chinese appliances market, Fisher & Paykel focused on the diffusion of sustainability to educate customer and position their products as “Sustainable Appliances” which require less energy consumption compared to other appliances products. Advanced technology and innovative industry design are the most remarkable advantages for Fisher & Paykel, these two advantages were widely adopted in the marketing mix strategies, as well as the new concept of “Sustainable Appliances”. The key strategies are summarized as follows:

* Production design: simple operation, high technology content, low energy consumption. Recycled materials are widely used. * Pricing strategy: Skimming pricing—begin with a high price, and then gradually drop the price over time. * Promotion strategy: “Education—introduction” strategy. Educate the customers first, and then introduce related products. * Distribution channels: Mix distribution channel adopted. Both direct online marketing and channel intermediaries are used. * Slogan for the marketing campaign: “Live a sustainable life, in an innovative way”

Table of Content

Executive Summary ------------------------------------------ 1 Company Situation Analysis ------------------------------- 4 Target Market Analysis -------------------------------------- 5 Marketing Objectives ---------------------------------------- 8 Marketing Strategy Statements ---------------------------- 8 Marketing Mix Programmes ------------------------------- 11 Marketing Tactics --------------------------------------------- 14 Marketing Budget --------------------------------------------- 15 Contingency Plan ---------------------------------------------- 15 Recommendations --------------------------------------------- 16 References ------------------------------------------------------ 18 Appendices ------------------------------------------------------ 21

Company Situation Analysis

Background Introduction
Founded in 1934, Fisher & Paykel Appliances has a history of over 75 years manufacturing household appliances. Famous for their innovative product designs and experience, their brand Fisher & Paykel was voted as one of the most trusted brand in New Zealand in the year 2010 (Readers Digest, 2010). The company owns three subsidiary companies in different countries producing production equipments and cooking products adjusted to the local markets. The company’s current major target markets are New Zealand, North America and Europe (F & P Annual Report, 2009). As a part of the global manufacturing strategy, the company has manufacturing sites in New Zealand, Italy, Thailand, and Mexico. In the year 2009, Fisher & Paykel Appliances held the first place in the New Zealand household appliances market, occupying 55% market share. Meanwhile, Fisher & Paykel also has delightful marketing performance in Australia and the USA. It was the second largest appliances company in the Australian market, occupying 18% totally (Businesswire, 2010). In the next section, three major issues Fisher & Paykel is recently confronting are summarized.

Key Issues
The most remarkable external issue Fisher & Paykel confronted is the Global Economic Crisis started 2007. Firstly, the global recession has proven brought significantly negative...
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