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Mkt1 Essay

3089 words - 13 pages

Company G
3-Year Marketing Plan
Jessica Chapman – 000200084
Western Governor’s University
MKT1

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 7
Threats 8
Market Objectives 8
Product Objective 8
Price Objective 8
Place Objective 9
Promotion Objective 9
Marketing Strategies 9
Product Strategies 9
Price Strategies 9
Place Strategies 9
Promotion Strategies 9
Tactics and Action Plan 10
Product Action Plan 10
Price Action ...view middle of the document...

Consumers will find the Shop Smart line convenient and innovative, but they will also find quality. The devices themselves are made durable and made of higher quality materials like carbon fiber, gorilla glass and aluminum accents.
Firstly the Shop Smart line consists of a device named Tally. In a supermarket or retail store, Tally is a device that is easily attachable to the user’s cart. Tally can scan and tally the cost of purchases in the cart of the consumer. Tally has a detachable pen for convenient scanning, a 7.5” LED screen to display various information, and a built in card swiper. If the other item in the line, Hub, has been purchased the customer will also be able to see what items they have in the kitchen at home, and what items they still need to purchase for specific recipes. Tally will be able to let (pre-approved) users purchase the items in their cart without the need to get in line. Once the user is ready to leave the store, the user just swipes their card and ID and they can leave.
The second item in the Shop Smart line is called Hub. Hub is usually placed in the kitchen or on the refrigerator and has a 15” display. This device, in conjunction with Tally, displays the inventory of the user’s kitchen, keeps shopping lists, and will tell the user if anything in the kitchen is past its expiration date. Hub also has its own scanner that can be used when throwing objects away, thus removing them from the user’s inventory. Additionally, Hub can be used to put together recipes using only the ingredients from the inventory.
Company G has already partnered with several major grocery/mega stores like Target, Walmart, Costco, Pavilions, and Whole Foods to compile and maintain accurate price systems and advertising. The partnerships with Costco, Target and Walmart are the strongest as they will be our major sellers of the system as well. Although the Shop Smart will not have regular ads, it can recommend products based on items that are already in customer’s carts, giving retail stores an avenue for revenue. These contracts will quell most competition for a number of years, unless competitors use other retailers. These partnerships allow Shop Smart to go beyond just food items, Tally will contain appropriate prices for these items as well (although these items would be omitted from the kitchen inventory).
In summation, consumers will find the Shop Smart system maintains the company mission in three ways:
1. It is convenient because there are no more check-out lines to wait in and users know what they need to purchase.
2. The Shop Smart line is innovative, there are no other electronic shopping assistants out there.
3. The line is made of high-quality materials like carbon fiber and gorilla glass with large screens.
Consumer Product Classification
The product classification for the Shop Smart system is definitively the shopping category. The system is fairly pricy, there is going to be a lot of thought put into the...

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