Vzt- Marketing Applications
2043 words 9 pagesCompany G
3-Year Marketing Plan
Assessment Code: VZT1
Table of Contents Introduction 3 Mission Statement 3 The Product 3 Consumer Product Classification 3 Target Market 3 Competitive Situation Analysis 3 Analysis of Competition using Porter’s 5 Forces Model 3 SWOT Analysis 4 Strengths 5 Weaknesses 5 Opportunities 5 Threats 5 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 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 …show more content…
This threat is considered low because most companies do not have the money available for the research and development of such a superior product.
An analysis has been done to evaluate the internal and external strengths and weaknesses facing Company G and the new XG Flat Iron. Over all, Company G and the XG Flat Iron looks promising with strong internal strengths and manageable weaknesses. Externally there is an abundance of opportunities with very manageable outside threats. STRENGTHS *indicates core competency * Brand recognition* * Financial resources * * Patent on technology | WEAKNESSES * Suppliers for raw materials * New market segment * Lack of experienced account representatives | OPPORTUNITIES * Introduce several new exciting colors * Market to Canada and Europe * Acquire company the produces element part | THREATS * New Competitors * Style trends change * Government regulations |
Company G’s brand recognition is highly regarded in the electronics market. The favorable recognition will help the XG Flat Iron to be seen as a high quality product by potential consumers.
Company G’s low debt-to-equity ratio and high credit rating gives them a strong financial position in this market segment. Their strong financial position and the fine tuned production processes allow for large scale profit margins.
A Patent is