Marketing Plan

1716 words 7 pages
Compact Nutribullet Pro
1-Year Marketing Plan
Student Name: Catherine O’Brien
Student ID: 000296377
Date: July 18, 2015
Student Mentor Name: Janie Cromcack

Table of Contents

Introduction 3
Product Description and Classification 3 Product Support of Mission Statement……………………………………………………………………………………………….….3
Consumer Product Classification 3
Target Market 3
Competitive Situation Analysis 4
Analysis of Competition using Porter’s Five Forces Model 4
SWOT Analysis 4
Strengths and Core Competencies 5
Weaknesses 5
Opportunities 6
Threats 6
Market Objectives 6
Product Objective 7
Price Objective 7
Place Objective 7
Promotion Objective 7
Marketing Strategies and Implementation 7
Product Strategies 7
Price Strategies 8
…show more content…
The product is available for purchase online at stores and at trade shows.
Bargaining Power of Suppliers: The NutriBullet has all its own components and replacement components making this product a fair market priced product.
Substitutes: The substitute was the old fashioned blender – which then the consumer would blend then place in another container to take with them. The NutriBullet has a variety and can be taken with to competitions for athletes and competitors after blending it becomes the drinking glass/mug to drink out of or has lids to wait for after competition
SWOT Analysis
.
STRENGTHS *indicates core competency * Marketing to a big Audience * Unique Ability to Develop Their Product * Capable carrying a large inventory * Customer Loyalty | WEAKNESSES * Cost of Product Production * Changing Technologies * Keeping up with demand | OPPORTUNITIES * Social Trends in Health & Fitness * Developing New Features * International Sales | THREATS * Poor Economy * Foreign Products * Buyers Change Their Tastes |

Strengths * Marketing to a big audience through the doing trade shows at the Physical Fitness and Bodybuilders events captures a wide variety of consumers and customers * Unique Ability to Develop Their Product to a smaller compact size to travel wit to major events and fit into carry-ons * Capable of carrying a large inventory to accommodate the demand of their products that range in different

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