Company G 3 Year Marketing Plan

3503 words 15 pages
Company G
3- Year Marketing Plan

MKT1

Table of Contents
Introduction ……………………………………………………………………………….3
Mission Statement ...………………………………………………………………………3
The Product ....…………………………………………………………………………….3 Consumer Product Classification …...……………………………………………3
Target Market ……………………………………………………………………………..3
Competitive Situation Analysis …………………………………………………………..4 Analysis of Competition using Porter’s 5 Forces Model …………………………4
SWOT Analysis …………………………………………………………………………..5 Strengths ………………………………………………………………………….5 Weaknesses ……………………………………………………………………….5 Opportunities ………….……………………………………………………….....5 Threats ……………..…….……………………………………………………….6
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Sellers are concentrated compared to buyers and there are few sellers with many buyers, which makes buyer power low. Furthermore, consumer switching costs are relatively high and buyers would not easily be able to produce our products themselves, further supporting that the threat from buyers is low. The Internet can have an impact should buyers ban together on social networking sites to demand discounts.

Threat from Suppliers: Threats from suppliers are high. The new technology that has gone in to producing our new product has been developed and is not mass-produced. Suppliers are few and buyers are many. Suppliers can also forward integrate and begin to produce our product themselves. This will impact how our company will be able to continue delivering our product at a reasonable price because suppliers can use the Internet to sell directly to online shoppers. This will have an impact not only on product price but also our distribution and marketing process.

Threat from Substitutes: The threat of substitute products in the market is high. Consumers have the option of purchasing similar radios that record on cassette tapes with low switching costs. Also, the cassette radio recorders are cheaper than our product, which also makes a high threat substitute. But, when it comes to quality of both our product and the substitute product the threat of the substitute is low because our product is of higher quality. Before

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