Company G – New Product One Year Marketing Plan – Electric Toe Nail Clipper with Extended handle for toes.
Create a marketing plan for ‘Company G’ it must think of a small appliance invention to make consumers lives more convenient.
Prepare a one-year marketing plan (suggested length of 5–7 single-spaced pages) using the attached “Company G One-Year Marketing Plan Template” for one of the small appliances from the new line.
Examine the details provided in the given Company G marketing scenario and identify the specific information that should be considered while developing the plan.
Target Market.
Describe the target market for the company’s product, including two variables related to demographic information, psychographic information, or geographic information.
Analysis of Competitive Environment.
Analyze Company G’s competitive environment, addressing each of the components of Porter’s Five Forces Model.
SWOT Analysis
Describe three of Company G’s strengths that would support the marketing of the new product.
Identify two strengths that should be considered core competencies.
Describe three of Company G’s weaknesses that would undermine the marketing of the new product.
Describe three current or potential opportunities that would support the marketing of the new product.
Describe three current or potential threats that would undermine the marketing of the new product.
Marketing Objectives.
Identify one SMART (specific, measurable, achievable, realistic, and time-bound) marketing objective for each of the following marketing mix elements:
a. product
b. place
c. price
d. promotion
Marketing Strategies and Implementation.
Describe three distinct strategies for each of the following market mix elements that are appropriate for the target market and supportive of the related objective:
a. product
b. place
c. price
d. promotion
Explain why this is the best collection of strategies to achieve the objectives identified in part E.
Describe one implementation tactic for each of the strategies identified in parts F1a-F1d.
Include a due date and responsible party for each implementation tactic.
Monitoring Procedures
Describe the specific actions that will be taken to measure the progress toward the objectives identified in the plan.
Describe the frequency for each of the actions described in part G1.