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Marketing Plan Essay

4430 words - 18 pages

Company G
3-Year Marketing Plan
Assessment Code: 318.1.5-06-15
Student Name: Bob Reichardt
Student ID: 000315522

Date: 02/10/2014
Mentor Name: Janie Chromacak
Version: 1.1
Table of Contents
Introduction 3
Mission Statement 3
The Product 3
Consumer Product Classification 4
Target Market 5
Competitive Situation Analysis 5
Analysis of Competition using Porter’s 5 Forces Model 5
SWOT Analysis 6
Strengths 7
Weaknesses 7
Opportunities 8
Threats 8
Market Objectives 9
Product Objective 9
Price Objective 9
Place Objective 9
Promotion Objective 9
Marketing Strategies 10
Product Strategies 10
Price Strategies 10
Place Strategies 11
Promotion ...view middle of the document...

The Product
Company G’s Infant Monitoring System is the next evolution in infant care. Our new system goes beyond infant monitoring. Standard is high quality audio monitoring, however, our new infant care system also monitors the heart rate, breathing rate and temperature of an infant as he or she lies sleeping. This gives the parents a wide spectrum of statistical and vital infant information remotely, thus giving the parents greater flexibility of time and mobility around the home while the infant sleeps.
There are many products entrenched in the marketplace today which monitor a child. However, their capabilities are limited to audio/visual monitoring only. Basic in nature, a transmitter is placed in the infant’s room and a receiver is placed near the parents. The range is limited to the confines of the same house or apartment, and often, these devices can be cumbersome and awkward to carry around. Our product however, evolves infant monitoring to the next level. At the heart of this innovative system is a processor, approximately the size of a SD card. Rather than placing a large audio transmitter next to the infant’s bed, this processor gives parents the ability to place a small monitor directly on the infant’s clothing. Vital statistical information is then transmitted live time to a monitor via blue tooth, or Wi-Fi to a display monitor. Via Blue Tooth, the approximate coverage is 30 feet from the infant. However, with Wi-Fi, the infant monitoring system’s range is limited only by the extent of the bandwidth. The information is transmitted to a monitor that displays the heart rate, breathing rate and temperature of the sleeping infant. When combined with the audio component that monitors the sounds made by the infant, new infant monitoring system offers a fully remote comprehensive vital statistic overview of sleeping infants .
Additionally, our engineers designed two accompanying accessories to further enhance the monitoring system. First, a unique mug that communicates to the parent anytime the infant cries. When the infant cries the system sends a signal to an embedded LED, alerting the parent to the infant’s crying. The second accessory is an infant bottle that is capable of warming milk or formula remotely. When the infant begins crying, our infant monitoring system transmits a signal to a microprocessor embedded in the infant bottle. This in turn switches on the warming element that enables the infant bottle to warm the milk or formula to a comfortable drinking temperature for the infant. As a whole, Company G’s innovative Infant Monitoring System gives parents the ability to safely monitor their infants by offering a wide spectrum of vital information while simultaneously allow parents the freedom and convenience to pursue daily activities around the home as the infant sleeps safely in their beds.
Consumer Product Classification
Given the prototypical design of Company G’s innovative Infant Monitoring System, by...

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