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3 Year Marketing Plan Essay

3271 words - 14 pages

Table of Contents

Introduction and Company Description Pg 2
Mission Statement Pg 2
Product Description and Classification Pg 2-3
Consumer Product Classification Pg 3
Target Market Pg 3
Analysis of the Competitive Environment Pg 3-4
SWOT Analysis Pg 4-5
SWOT Strengths and Support Pg 5
SWOT Core Competencies Pg 5
SWOT Weakness and Support Pg 5
SWOT Opportunites and Support Pg 5-6
SWOT Threats and Support Pg 6
Marketing Objectives Pg 6-7
Marketing Strategies and Explanation Pg 7-9
Tactics and Action Plan Pg 9-10
Monitoring Procedures Pg 10
Sources Pg 11

Introduction

Company G is offering a Single Serve Coffee maker that is able to provide the consumer improve their ...view middle of the document...

This is also convenient for the consumer on the go because they will also have the ability to program the appliance to start making their cup of coffee at a specified programmed time.

Consumer Product Classification

Being a special product in a sea of other coffee makers, this product would classify as being a “shopping” product under the three-way consumer product classification system. Although this product is unique, this appliance would fall under this category due to the fact that there are so many other coffee makers available. The consumer will be apt to do some comparison shopping before making their final choice.

Target Market

The target market that Company G is aiming toward for this product is for individuals between the ages of 25-65, mainly adults that enjoy a good cup of coffee. These individuals The target market also are single or married that can appreciate drinking coffee with convenience. The target market would be active individuals and working individuals that look for convenience items that make every day tasks easier.
The target market would be in a group of educated individuals have an income of between $40,000 - $100,000 on an annual basis. For those on the lower part of the income spectrum, this coffee maker would be a treat and chosen to be bought carefully as to not over stretch budget. For those in the middle of the income spectrum, this product would be a great buy for the hard working class that typically has value for their time and this coffee maker would definitely provide a savings of time. For those on the higher end of the income spectrum, this coffee maker would be an easy buy and would simply be another appliance for everyday use. The target market would mostly be in suburban and urban areas where the target market is more densely populated.

Analysis of the Competitive Environment

The coffee industry itself is a multinational industry as people all over the world enjoy drinking coffee. In the United States alone, single-serve coffee makers have become really popular as you can make yourself various types of cups of coffee without the inconveniences of cleaning up coffee grinds each time. Between 2006-2010 sales went from 1.2 million units sold to 4.1 units sold. (Department of Energy, 2011) These single-serve coffee makers are sold in different stores including Target, Walmart, Sears, Fry’s Electronics, Best Buy and many other large and small stores where small appliances are sold. With large stores like those listed, Company G has to stay aware of the needs of those stores to keep their business. For example, if one of these very important big stores want something like a discount on the product to sell, Company G should plan on making an attractive offer to keep their business. These types of coffee makers are also making appearances in coffee shops like Starbucks.
These stores will also carry competing products made by companies like: Kuring, Mr. Coffee,...

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