Company G

3-Year Marketing Plan

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Table of Contents

Introduction3

Mission Statement3

The Product3

Consumer Product Classification4

Target Market4

Competitive Situation Analysis5

Strengths7

Weaknesses8

Opportunities8

Threats8

Market Objectives9

Product Objective9

Price Objective9

Place Objective9

Promotion Objective9

Marketing Strategies9

Product Strategies9

Price Strategies10

Tactics and Action Plan11

Price Action Plan11

Place Action Plan12

Promotion Action Plan12

Monitoring Procedures12

References13

Introduction

Technology advancement has increased the standard of life. Latest electronic products not only fulfill the need of consumers but also provide them satisfaction. Seeing the orientation of consumers towards handy gaming electronic products, Company G has introduced a hybrid refrigerator “HIZONE” that is a powerful brand of refrigerators providing the cutting edge technology for electronic appliances used in houses. Company G's HIZONE is a portable hybrid refrigerator supporting various hybrid functions with high definition category.

Objectives

Apply Porter's Five Forces model to an analysis of the competitive environment for a given business situation.

Define the target market as part of a marketing plan for a given situation.

Classify a specified consumer product using the three-way consumer products classification system.

Develop an appropriate set of marketing objectives that support a given mission statement.

Develop a SWOT analysis for a given business situation.

Select an appropriate distribution channel for a given marketing situation.

Select an appropriate pricing strategy for a given marketing situation.

Select an appropriate promotion strategy for a given marketing situation.

Develop a tactical marketing plan that supports specified elements of a strategic marketing plan.

Identify monitoring and control activities appropriate for a specified tactical marketing plan.

Mission Statement

“We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.”

The Product

“HIZONE” is the latest hybrid refrigerator developed by Company G is differentiated from other major hybrid refrigerators currently present in market. Main features of this hybrid refrigerator are as follows:

This hybrid refrigerator is portable and can be taken anywhere easily. It enables the user to enjoy fresh and cold stored foods as they go from one place to other

Supports multiple cooling features

Gaming console dimensions are: 6”x3.5”

Fully customizable video display support

HDMI connection for optimum output on HDTV

These features fully support the mission of giving convenience to one's life. Company G has invented this hybrid refrigerator with multiple features in addition to cooling and ozone-friendly defrosting technology. It enables user to have flexibility in their life while keeping everything they need in one product (Juul, 2009).

Consumer Product Classification

Company G's hybrid refrigerator will be classified as a high-definition electronic product.

Target Market

Segmentation approach will be used to reach targeted customers. Main target market for Company G is household customers, who tend to use refrigerators for food storage (Juul, 2009).

Competitive Situation Analysis

Porter's Five Forces

Bargaining power of suppliers

Suppliers of electronic accessories have a reduced because of industry concentration and the effect of electronic appliances. They realize, indeed, many commands and eligible for preferential tariffs or put pressure on suppliers in terms of quality, deadlines, innovation. In these crunching times, other potential players have tended to "sell out" products. This non-compliance of the tariff policy of the company can result in a drastic selection among its distributor firms, keeping only the most serious of them.

Bargaining power of customers

The main customers are distributor groups ...