Mkt1 Company G Essay examples

2041 Words Jan 6th, 2014 9 Pages
Company G

3-Year Marketing Plan

Assessment Code: 318.1.5-06-15

Student Name: Cheri’ Mathews

Student ID: 000274594

Date: 08/21/13

Mentor Name: Eric Ansah-Antwi

Table of Contents

Introduction 3
Mission Statement 3
Product Description and Classification 3
Consumer Product Classification 3
Target Market 3
Competitive Situation Analysis 4
Analysis of Competition using Porter’s 5 Forces Model 4
SWOT Analysis 4
Strengths 5
Weaknesses 5
Opportunities 5
Threats 5
Market Objectives 6
Product Objective 6
Price Objective 6
Place Objective 6
Promotion Objective 6
Marketing Strategies 7
Product Strategies 7
Price Strategies 7
Place Strategies 7
Promotion Strategies 7
Tactics and Action Plan 8
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Consumer Product Classification

Cinelens would belong in the shopping category based on consumer product classification. It would not be a frequently purchased product. The product would be sold exclusively through electronic stores, or online through electronic stores.

Target Market

One target market for the Cinelens would be teenagers, for ages 13-18. This would involve those that are highly interested in video games, live in suburban areas, and live in both single and muli-family situations.

A second target market would be families, ages 25-40, live in suburban and urban areas, have an income of $30,000, and enjoy movie entertainment.

Competitive Situation Analysis

Analysis of Competition using Porter’s 5 Forces Model

Competitive Rivalry - At this time, this is a new product and competitive rivalry would be low. However, that will change in the next 3 years, as other electronic companies will see this product and try to create something similar, making the threat moderate.

Threat from New Entrants - The threat of new entrants is very low, as there is already an abundance of electronic companies doing business.

Threat from Buyers – The Cinelens product would be under contract to specific retailers. Therefore, the buyers may determine that they would want a discount in order to gain a profit. Buyers could opt not to purchase the product due to the lack of

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