WGU MKT1 Marketing Plan
Company Q
3-Year Marketing Plan
Table of Contents
Table of Contents 2
Introduction 4
Mission Statement 4
The Product 4
Consumer Product Classification 5
Target Market 5
Competitive Situation Analysis 5
Analysis of Competition using Porter’s 5 Forces Model 5 The threat from substitute products is low as there are not too many substitute products available. The price of QWell Air Purifiers is competitive and the quality is differentiated and better from other products of the same classification in the market. 6
SWOT Analysis 6
Strengths 7 Another weakness of Company Q is in marketing and promotions. Even the best products have to be marketed and sold. Since the major stockholders of the company are technology and production experts, there is a need to find competent marketing and sales personnel for the promotion and revenue generating aspects of the business. 8
Opportunities 8
Threats 8
Market Objectives 9
Product Objective 9 The Product Objective is to launch QWell Air Purifier to be the best selling Air Purifier within the year. This can be accomplished by ensuring the production conforms to quality and productivity standards, and that the product development is continuing through research and innovation. The products are also designed attractively to blend well with any home décor. 9
Price Objective 9 The Price Objective is to sell QWell Air Purifiers at the lowest Cost Plus possible to be competitive with other products in the same category. This can be accomplished by reducing production costs through efficient and effective raw material sourcing and reducing production costs through efficiency and maximized productivity. Overhead costs will also be analyzed for maximum savings on overall costs. 9
Place Objective 9 The QWell Air Purifiers will be distributed nationwide, through the network of major appliance stores in major cities. This will be accomplished through reaching an agreement with national network of major
3-Year Marketing Plan
Table of Contents
Table of Contents 2
Introduction 4
Mission Statement 4
The Product 4
Consumer Product Classification 5
Target Market 5
Competitive Situation Analysis 5
Analysis of Competition using Porter’s 5 Forces Model 5 The threat from substitute products is low as there are not too many substitute products available. The price of QWell Air Purifiers is competitive and the quality is differentiated and better from other products of the same classification in the market. 6
SWOT Analysis 6
Strengths 7 Another weakness of Company Q is in marketing and promotions. Even the best products have to be marketed and sold. Since the major stockholders of the company are technology and production experts, there is a need to find competent marketing and sales personnel for the promotion and revenue generating aspects of the business. 8
Opportunities 8
Threats 8
Market Objectives 9
Product Objective 9 The Product Objective is to launch QWell Air Purifier to be the best selling Air Purifier within the year. This can be accomplished by ensuring the production conforms to quality and productivity standards, and that the product development is continuing through research and innovation. The products are also designed attractively to blend well with any home décor. 9
Price Objective 9 The Price Objective is to sell QWell Air Purifiers at the lowest Cost Plus possible to be competitive with other products in the same category. This can be accomplished by reducing production costs through efficient and effective raw material sourcing and reducing production costs through efficiency and maximized productivity. Overhead costs will also be analyzed for maximum savings on overall costs. 9
Place Objective 9 The QWell Air Purifiers will be distributed nationwide, through the network of major appliance stores in major cities. This will be accomplished through reaching an agreement with national network of major