G Marketing Plan

Words: 3143
Pages: 13

Company G

3-Year Marketing Plan

Valerie Wilson



Table of Contents

Introduction 3
Mission Statement 3
The Product 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 6
Market Objectives 6
Product Objective 6
Price Objective 6
Place Objective 6
Promotion Objective 7
Marketing Strategies 7
Product Strategies 7
Price Strategies 7
Place Strategies 7
Promotion Strategies 7
Tactics and Action Plan 8
Product Action Plan 8
Price Action Plan 8
Place Action Plan 8
Promotion Action Plan 8
Monitoring Procedures 9

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Suppliers may increase the price of raw material to get some extra profit. Suppliers who produce parts that are not easily gotten from other suppliers will be the ones to take advantage of this. These companies, having the knowledge that Company G will have issues finding another supplier to produce the same part will raise there price for these goods. This risk is not that significant, since most of the parts used to produce product are easily manufactured by suppliers which will help eliminate this risk.

Threat from Substitutes : there is a significant threat of companies producing substitute product. Companies will try to compete by producing items similar to Company G’s. This threat is very significant due to the fact that many companies want to make a profit out of new ideas and technologies. Companies may also offer substitutes at a cheaper price.

SWOT Analysis

Great opportunities exist in the marketing environment for Company G. Although this is true, Company G faces many challenges. Here on this SWOT Analysis chart we have highlighted some of the strengths, weaknesses, threats, and opportunities for Company G’s new product.

|STRENGTHS *indicates core competency |WEAKNESSES |
|Company G key area of expertise is in the overall simplicity and |Other companies offering similar product. |