Mkt1: Marketing Prnc and Apps
Company G
3-Year Marketing Plan
Assessment Code: Task 318.1.5-06-15
Student Name: Sandra Edwards
Student ID: 000175429
Date: 10/15/10
Mentor Name: Donna Pope
Table of Contents
Introduction 3
Mission Statement 3
Market Objectives 3
Target Market 3
Product Objective 3
Price Objective 3
Place Objective 4
Promotion Objective 4
Competitive Situation Analysis 4
Consumer Product Classification 4
Analysis of Competition using Porter’s 5 Forces Model 4
SWOT Analysis 5
Strengths 5
Weaknesses 6
Opportunities 6
Threats 6
Marketing Strategies 6
Product Strategies 7
Price Strategies 7
Place Strategies 7
Promotion Strategies 7
Tactics and Action Plan 7
Product Action Plan 7
Price Action Plan 8
Place Action Plan 8
Promotion Action Plan 8
Monitoring Procedures 8
Introduction
Company G currently enjoys a solid history of leading the small home appliance market but in recent years the market has became stagnant along with Company G’s market share. As the consistent market leader, Company G is looking for a way to create some movement in the market by launching a new product line that focuses on energy and space saving principals. The ECOSPACE line will offer energy star rated small counter top appliances. The cornerstone principal of the line to minimize counter space and passive energy consumption by creating one base pad which remains on the counter top plugged into an outlet and several appliances which can be placed upon the base pad when needed for use. This design will make using and storing different appliances simple and will reduce passive energy consumption by not having multiple appliances plugged in when not in use.
Mission Statement
Company G seeks to enrich the lives of its consumers with high quality, low price small appliances that are stylish and elegant.
Market Objectives
Target Market
The target market of the new ECOSPACE line is late twenty to mid thirty couples
3-Year Marketing Plan
Assessment Code: Task 318.1.5-06-15
Student Name: Sandra Edwards
Student ID: 000175429
Date: 10/15/10
Mentor Name: Donna Pope
Table of Contents
Introduction 3
Mission Statement 3
Market Objectives 3
Target Market 3
Product Objective 3
Price Objective 3
Place Objective 4
Promotion Objective 4
Competitive Situation Analysis 4
Consumer Product Classification 4
Analysis of Competition using Porter’s 5 Forces Model 4
SWOT Analysis 5
Strengths 5
Weaknesses 6
Opportunities 6
Threats 6
Marketing Strategies 6
Product Strategies 7
Price Strategies 7
Place Strategies 7
Promotion Strategies 7
Tactics and Action Plan 7
Product Action Plan 7
Price Action Plan 8
Place Action Plan 8
Promotion Action Plan 8
Monitoring Procedures 8
Introduction
Company G currently enjoys a solid history of leading the small home appliance market but in recent years the market has became stagnant along with Company G’s market share. As the consistent market leader, Company G is looking for a way to create some movement in the market by launching a new product line that focuses on energy and space saving principals. The ECOSPACE line will offer energy star rated small counter top appliances. The cornerstone principal of the line to minimize counter space and passive energy consumption by creating one base pad which remains on the counter top plugged into an outlet and several appliances which can be placed upon the base pad when needed for use. This design will make using and storing different appliances simple and will reduce passive energy consumption by not having multiple appliances plugged in when not in use.
Mission Statement
Company G seeks to enrich the lives of its consumers with high quality, low price small appliances that are stylish and elegant.
Market Objectives
Target Market
The target market of the new ECOSPACE line is late twenty to mid thirty couples