1-Year Marketing Plan
Assessment Code: 318.1.5-06-15
Student Name: Matt Dee
Date: April 2015
Note: This is the version that was accepted in Taskstream. I highly recommend to participate in the WGU cohort for this assignment.
Table of Contents
Product Description and Classification 3
Company G Mission Statement 3
Consumer Product Classification 3
Target Market 4
Competitive Situation Analysis 4
Analysis of Competition using Porter’s Five Forces Model 4
SWOT Analysis 5
Market Objectives 7
Product Objective 7
Price Objective 7
Place Objective 7
Promotion Objective 7 …show more content…
They seek an effective way to deal with the cold vehicle interior during the winter months. The average income for this demographic group will range between $45,000 and $100,000. They can be either married or single, male or female. The education level is a high school diploma or higher. Despite being relatively successful and earning a comfortable income, this group is still price sensitive. They like high-quality products at a fair price, and are willing to spend a little more for a quality produce. The target geographical area is anywhere where it is cold in the winter. For example New England, but less in Southern California.
Competitive Situation Analysis
1 Analysis of Competition using Porter’s Five Forces Model
Competitive Rivalry: This threat is medium. There are very few direct competitors to the electric vehicle warmer. There are several substitute products, which are discussed below, but only little direct competition on the proposed product design.
Potential New Entrants: This threat is high. The product is of simple design (electric heater, rechargeable power pack, control unit). It would be fairly easy to reverse engineer the product. The barriers to manufacturing are low. All the components are simple, and readily available in different shapes and forms on the market today. The barriers for a competitor