Markstrat Marketing Plan Essay

1206 Words Apr 13th, 2012 5 Pages
1.0 Executive Summary
Company U’s primary focus is creating products that create value and fill a need in growing markets – it currently has three products. SUSI is the lower quality offering which focuses on weight and volume, marketed towards Singles and Others who are the most price-sensitive and are projected to have the highest growth rates over the next five years. SULI is the high quality electronic offering, distributed primarily to Professionals and High Earners who are driven by performance and convenience. VUGO is a product that was created for the Followers segment of the Vodite market which is projected to have the largest growth over the next five years at over 3300%. Followers require a high performing product, but at an
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As of Year 4, the Vodite market is much smaller at 200,000 people, however it has a huge forecasted growth potential of more than 200% over the next five years.
Demographics – Sonite customers are generally adults who have similar needs and purchasing behaviors. The market can be divided into five major segments: Buffs, Singles, Professionals, High Earners and Others. Buffs and Singles are price sensitive and do not necessarily have high incomes. Buffs demand a high-performance product while Singles are amenable to average levels of both performance and convenience. Professionals and High Earners have high levels of income and use the Sonite products for both personal and professional reasons. Both segments demand performance and convenience from their products and tend to equate the price of a product with quality or social status. Others are the largest segment in the Sonite market and include consumers who do not belong to the above groups - they have similar needs and are looking for cheap, low-performance products with average convenience. Potential Vodite consumers are the same as those who buy Sonites, however each product type serves different needs and therefore they do not compete. The Vodite market focuses on consumers who tend to adopt new products and is segmented into three groups: Innovators, Early Adopters, and Followers. Innovators have an above average

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