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Marketing Extension Gb530 Essay

3588 words - 15 pages

Kaplan University
Graduate School of Business and Management
GB530 Marketing Management: Brand Extension Marketing Plan

Brand Extension Marketing Plan
A MARKETING PLAN IS THE FOUNDATION FOR ALL MARKETING EFFORTS
The new product I plan on implementing is a non-touch toilet flush. The flush will be controlled by the sound of a clap, with a double clap indicating for a full flush, while a single clap would indicate a half flush. It is a simple idea that will be called a simple name “CLAP2FLUSH”. This will be an additional option along with the traditional style of flushing currently in markets with goal of eliminating the traditional style. The intent is to save ...view middle of the document...

The target market target will be the bill payer of the house hold, typically the working class homeowner. The age group will be 25 and up.

2.0 SITUATION ANALYSIS

CLAP2FLUSH is an extension product of the family owned company MAYAT’D. MAYAT’D products have typically been well received in the market, and like most extensions, marketing will be imperative to the success of the CLAP2FLUSH as well as targeting the correct customer base while expanding that base. CLAP2FLUSH will be introduced to the market by getting a large discount sale on some of the older products up 50 and 75% off.

2.1 Market Summary

CLAP2FLUSH possesses good information its market and possesses a great detail about its most common customer. This information will be used for more marketing and how to serve the current customers better. This is information will also be used to the specific needs of the customer, like areas with high water bills and marketing and specific detail of we can help the bill payer on cost.

2.1.1 Market Demographics

• Demographics

The ratio of male to female users in the demographic is about 2:1

The Ages of our respective customers are about 18-55, which is a fairly large range, but 80% is concentrated around 25-55 years of age because those are the majorities of homeowners and bill payers. The other 20% of 18-25 years are usually people supporting to pay bills. Our customer is pretty straight forwards. We have the money savers and then the innovators (customers that enjoy the newest products).

The average salary for our customers between ages 22-55 is $38,000 a year.

The married customers within our customers average 45,000 per household

• Geographics

For now, CLAP2FLUSH is still focused on the mainland United States, with the focus expanding to Hawaii, and Alaska. Our internet access also makes our market viewed worldwide, but only servicing 48 states in North America currently.

The targeted total amount of every household is in the continental U.S. by the year 2015.

• Behavioral Factors (Psychographics and Lifestyle considerations)

The behavior of most of our customers is looking for a new toilet flush when it needs to be replaced.

Users look for ways to get the best product for the least amount.

2.1.2 Market Needs

Customer Service
The value of service we give our customers is imperative to sustaining and increasing our customer base.

Quality Product

Customers deserve their money’s worth of product. Many of the customers trust our products and rely on our professional advice. It is equality important that we deliver to the customer to retain customer loyalty

Innovative Ideas

The market here need a new ideas and ways to help them save money, keep bathroom looking modern and integrating technology. This is what our product is providing.

2.1.3 Market Trends

CLAP2FLUSH is a...

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