Mkt1 3yr Mkt Plan

Company 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

Company G is introducing a new product in the XG line of products. It encompasses many of the features used in the ceramic heating elements of other XG small appliances. It is the XG Flat Iron. It is a new innovation in beauty.

Mission Statement

“We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.”

The Product

The XG Flat Iron is the elite of all small appliances for hair. It is made from the highest quality ceramic and heating elements available on the market. The XG Flat Iron is fully heated and ready to use in less than 10 seconds for superior convenience. It straightens all types of hair with an anti frizz technology that is unavailable with any other competitors Flat Iron. The XG Flat Iron is the lightest weight flat iron made to date.

Consumer Product Classification

The XG Flat Iron will be purchased with comparison through research of product and other brands. The brand awareness and highly regarded reputation of Company G along with availability in major chains would classify the XG Flat Iron as a shopping product according to the 3-way Consumer Product Classification system.

Target Market

The target market for the XG Flat Iron will be a female of all ethnicity,...