3-Year Marketing Plan
October 8, 2012
Mission Statement 3
The Product 3
Target Market 4
Marketing Objectives 4
Analysis of Competition using Porter’s 5 Forces Model 5
SWOT Analysis 6
Marketing Strategies 8
Tactics and Action Plan 10
Monitoring Timeline 12
Company G has been the leading Manufacturer of Top ...view middle of the document...
The target market for this brewing station would be Middle Class working adults, females and males ages 25-60, with a college education, and an estimated annual income of $35,000 or more.
To launch a new product! Bring new customers into the brewing system, and increase product purchasing in stores and on web site by 25% in first 6 months
To be moderately priced and attract Target Market to purchase and increase sales by 20% in the first quarter.
Increase Suppliers to increase distribution by 15% In first year.
To educate and increase awareness of the product and its features to the Target Market. Reaching a customer base of 5000 in first 60 days.
Competitive Situation Analysis:
Consumer Product Classification
The Quick Cup Brewing system is a ‘Shopping’ good. It is a product that a consumer will do their research on, compare brands and features, and look up information on how consumer reports rates this type of Brewer.
Analysis of competition using Porter’s 5 Forces Model
Competitive Rivalry: As with most new products on the market, Quick Cup will have its share of competition and rivalry, this will come by way of less expensive brewers who want to capture the consumer with lower price, yet a lesser quality product.
Threats from New Entrants: Threat may always arise from new entrants trying to offer a more affordable version and Unique features that Company G has used in the designing of this product.
Threat from Buyers: Buyers have the ability to drive your prices down. This will depend on the number of buyers you have, how important that buyer is , and how much would it cost them to switch to a competitor, and how few buyers you have can give them a lot of bargaining power.
Threat from Suppliers: Suppliers are powerful if you have few choices and need their help. They can easily drive up prices of supplies needed , and thus have power over you.
Threat from Substitutes: Coffee Shops, convenience store specialty coffee machines, and the largest of all coffee chains, Starbucks, can definitely be threatening substitutes for Company G.
* Company G’s Marketing Expertise
* Company G’s Brand name
* A New innovative product
I believe one of Company G’s Strengths is the expertise behind the Marketing Team. They have successfully reached many consumers and saturated the market with previous appliances, increasing sales and making Company G profitable.
Company G’s Brand name is reputable for the sale of a high quality, yet affordable product. Providing excellent service to consumers for years.
The New Quick Cup is a new product that is one of its kind! Like previous products and sales numbers, Company G has a reputation to deliver a unique product to its customers.
Company G’s two strengths that are its core competencies, is...