Marketing Plan

Table of Contents

Introduction4

Discussion4

General Business Situation Analysis4

Strengths5

Weaknesses6

Opportunities6

Threats7

Industry Trends7

Direct and Indirect Competition8

Organizational Mission8

Forecast of performance goals9

Marketing Objectives9

Marketing Strategy10

Market Segmentation10

Demographic Segmentation10

Behavioral Segmentation12

Target Market12

Product differentiation12

Integrated Marketing Mix12

Product13

Price13

Promotion13

Distribution14

Recommendations14

Summary16

References17

Marketing Plan

Introduction

Marketing is a procedure of making and implementing a plan to identify, analyze and satisfy customer's needs and wants to maximize profit. We make a marketing plan to describe market strategy of a business, and its existing market position. The reason of generating this plan is to identify the steps that the company will take to attain organization's marketing objectives (homebusiness.about.com).

Marketing plan allows you to take necessary actions to attract and influence your potential customers to purchase your product or service. Marketing plan executes the strategy which allows you to get the road map to achieve your future goals (www.sbinfocanada.about.com).

Discussion

General Business Situation Analysis

Glow is a start-up company, and its first product is Shimmer-E, an automatic oscillating electric toothbrush. Shimmer-E will be competing with Oral-B, Philips, Colgate and Panasonic. The product has comparatively advanced features with high functionality, specially designed teeth shiner, germs defender, effective pressure sensors and oscillating bristles with value added price. We are targeting large segments of the consumer market, taking benefits of the opportunities like high demand for advanced and efficient electric toothbrush.

The basic aim of marketing is to achieve sales of 700,000 units in the first year. The basic financial aim is to attain $80 million in the first year; keep loses under $5 million and break even in the first quarter of the second year. There will be aggressive promotion in the beginning so that brand image and recognition could be formed. SWOT Analysis

SWOT analysis contains analysis of both internal and external environments. Analysis of the internal environment is done through identifying strengths and weaknesses of the organization, whereas external environment is analyzed through identifying potential and present opportunities and threats within the market.

Glow has numerous strengths as it has new and innovative specifications; the main weakness is unawareness of the existence of brand. Major opportunity is the high demand of electronic toothbrushes since automatic toothbrushes have taken over manual ones. Glow also faces the threat of tough competition in the market since there are already strong brands in the market like Oral-B, Philips, Panasonic, and Colgate.

Strengths

Glow can be formed on the following five strengths:

New features: Shimmer-E has add-on features that include carefully designed specialized bristles to add teeth shine and 12 hour germ defender.

Price: Introductory price of Shimmer-E would be low as compare to the other brands already existing in the market

Advanced technology: Glow has highly advanced infrastructure, which would enable them to produce more efficiently and effectively in less time.

Experienced work force: Glow has hired highly skilled employees and work force. It has strong human resource which is a major asset for them.

Product Differentiation Strategy. It has unique features in its product with high quality and attractive packaging.

Weaknesses

Glow has identified it's weaknesses by analyzing and comparing itself with its competitors as it has learned from the failures and successes of other ...