MKT1 CompanyG Marketing Plan

Topics: Marketing, Strategic management, Management Pages: 9 (2537 words) Published: May 31, 2015
Company G
3-Year Marketing Plan
Assessment Code:VZT1/MKT1
Date:04/27/2014
Table of Contents

Introduction3
Mission Statement3
Product Description and Classification3
Consumer Product Classification3
Target Market3
Competitive Situation Analysis4
Analysis of Competition using Porter’s 5 Forces Model4
SWOT Analysis5
Strengths5
Weaknesses5
Opportunities6
Threats6
Market Objectives6
Product Objective6
Price Objective7
Place Objective7
Promotion Objective7
Marketing Strategies7
Product Strategies7
Price Strategies7
Place Strategies7
Promotion Strategies7
Tactics and Action Plan8
Product Action Plan8
Price Action Plan8
Place Action Plan8
Promotion Action Plan9
Monitoring Procedures9
Introduction
Company G is a world renowned consumer electronics company known for bringing innovative products that aid in the quality and convenience of life. In continuing with this innovative tradition, Company G is introducing the new XG-PVIE or Portable Virtual Immersion Environment. The new PVIE will allow anyone from the casual to the hardcore gamer to partake in and experience and entirely immersive, highly interactive level of game play consisting of stunning, realistic visuals and enhanced, pulse pounding audios. The XG-PVIE is the next generation in gaming innovation and a must have for ALL gamers seeking the next adventure. Mission Statement

“We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.” Product Description and Classification
The XG-PVIE is a next generation, portable, VR display unit, constructed of lightweight carbon-fiber material. The visually stunning design is slightly larger than a pair of ski goggles, yet the streamlined, futuristic design The XG-PVIE provides an immersible VR experience through its innovative design and function. The VIU (visual simulation unit), utilizing ocular technology which mimics the function of the human eye, provides the user with depth and scale in a stunning three dimensional environment. The attached AIU (audio immersion unit), enhances the user experience as the noise eliminating auditory input, allows the user to completely remove outside sounds and distractions. The XG-PVIE utilizes next generation bluetooth technology which enables it to connect to existing games consoles, tablets, and smartphones. can be utilized with the current camera technology for enhanced game play. It Consumer Product Classification

The XG-PVIE is a shopping product used as an add on to enhance the gaming experience. It is relatively expensive and therefore would be purchased less frequently than some convenience gaming products. Image is an important factor in owning the PVIE and therefore a convenient, high visibility location is necessary. Target Market

The target market for the XG-PVIE is 23-38 year old male/female gamers who are gainfully employed, technically savvy, have at least an associate’s degree, with earnings of at least $35,000 per year or more. Those gamers who focus on online RPG (role playing) games will be a focal point. Competitive Situation Analysis

Analysis of Competition using Porter’s 5 Forces Model

Competitive Rivalry

The VR gaming device market is in its relative infancy with only a few organizations currently researching or offering viable devices for use. Companies such as Sony and Oculus are the primary competitors as they are currently in development of similar VR devices. As such, Company G, through its’ innovation and reputation for quality, has the opportunity to be first to market and establish an equity position in what is currently predicted to be an expanding market segment. Threat from New Entrants

As the cost of researching, capitalizing, and bringing to market a viable VR device is prohibitively expensive, I anticipate that there will be very few organizations entering this market arena. Those that are able to enter...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on WGU MKT1 Marketing Plan
  • Marketing Plan Essay
  • Essay about MARKETING PLAN
  • Essay about Marketing Plan
  • Marketing Plan Essay
  • Marketing plan Essay
  • Marketing Plan Essay
  • Essay on Marketing Plan

Become a StudyMode Member

Sign Up - It's Free