3-Year Marketing Plan
Table of Contents
Table of Contents
Consumer Product Classification
Competitive Situation Analysis
Analysis of Competition using Porter’s 5 Forces Model
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
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.
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
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
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 retailers with branches in major cities. Other retailer outlets with fewer branches will have to be visited and arrangements made for efficient deliveries. An internet presence must be established to inform the consumers/public about the product and so that they can make inquiries and place online orders.
9 Promotion Objective
The QWell Air Purifier will be promoted as a product to help alleviate health problems. This will be accomplished by designing flyers and brochures focusing on the problems with contaminated air. The product will also be introduced and promoted in health and wellness trade fair and exhibit and other related trade fairs. A writer should also be engaged to write about the dangers of air pollutants. These should be submitted as articles in informative websites and to major newspapers and magazines as press releases.
9 Marketing Strategies
Marketing Strategies are steps and processes undertaken by organizations so that their resources are concentrated on opportunities to optimize growth, increase sales, and achieve competitive advantage. The marketing strategies consist of short and long-term activities dealing with analysis of the start-up situation of the company, and the formulation, selection, and conduct of market-oriented course of action to reach the goals of the company.
9 Product Strategies
Tactics and Action Plan
Product Action Plan
Price Action Plan
Place Action Plan
Promotion Action Plan
Company Q produces the GWell Air Purifier which effectively removes smoke in the air, dust particles, pollen, and other particulates that may cause allergic reactions to young children and sensitive adults.
Compay Q’s team of engineers and designers developed the GWell Air Purifier through concept and prototype testing. They found that the visual design and features of the appliance is very appealing to...
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