Marketing plan

 

Name

Institution

 

 

Marketing plan

Name of the company

The name of the company is G, which is highly regarded with electronics. In service and support, the business enjoys excellent relationship with current suppliers.

NATURE

The nature of the business is electronics product services

MISSION

As our company offers electronics products, we intend to more efficient in terms of labor and raw materials we offer to our clients. We aim to reach the small appliance market with our products to ensure each individual uses our products along with increasing our profits.

MARKETING OBJECTIVES

  • Increase usage of our existing clients in addition to changing our new customers to frequent shoppers.
  • Restructuring effective marketing and sales in order to develop awareness of our  products to our customers
  •   To have different distributions channels that will attract new clients for instance our electronics products to be sold in various supermarkets and shops not just in the company
  • To sell our electronics products at a cheaper price in order to attract more customers

TARGET MARKET

  • The company targets family owners who generally have electronic equipments such as television, refrigerators, microwaves and DVD players among others.
  • We intend to target professional offices that often use a lot of electronic equipment such as telephones and answering machines among others.
  • We aim to target photographers who often use some of existing products.

PRODUCT CLASSIFICATION

Our products are classified as emergency products in that they are bought immediately. Examples of such products are clocks, alarm clocks, telephones, DVD players and video game consoles among others.

COMPETITIVE ENVIRONMENT

  • What will set our company from other competitors is that we will sell our products in customer loyalty to decrease the threat of many competitors nearby.
  • We will sell quality products that in return will ensure stiff competition with other companies
  • We will encourage bargaining power of customers to attract more customer

SWOT ANALYSIS

Strength

  1. The company has developed the line of offering the best quality small appliances which in return has attracted many customers to extend of been potential buyers thus making the business to maintain competition with other companies.
  2. The Increase demand of many using our products makes many to buy our products thus making the business to grow.
  3. So many homes demand attention for our products in that, 70 % uses small household electrical goods such as DVD players and CD that posing strength in having more of such products.
  4. Our XC brand logos are highly recognized by most of our consumers thus attracting many clients to buy frequently.

Weaknesses

  • Lack of enough materials and raw materials suppliers has unable the company not to support the small appliance line thus not having effective distributors.
  • Increase awareness of counterfeit products that are all over in electronic shops has made it difficult to convince our customers that are products are of good quality.
  •  Our business lack marketing expertise thus has problems of many individuals not knowing what we offer and where we are situated.

Threats

  • Born in mind it is a business with many competitors, this is a threat to our stability.
  • Poverty becoming the major subject in a day has become one of our threats in that many cannot afford to buy our products instead can only buy basic commodities.
  • Lack of effective protection against external has become a threat in that there is certainty of financial loss incase of any external attack.

Opportunities

  • The company has developed a new market that has been vacated by ineffective competitor.
  • The company has developed a new market segment, which has offered improved profits.
  •  We have gotten various accesses of various channels of distribution, which we intend to work on it.

MARKETING STRATEGY

.Our products

  1. We will team up with various media channels to create awareness of our products in that at least 50 % of our customers will know our products in addition to the unique values.
  2. We will develop product modification with new features to attract more customers
  3. Will develop extensive website in order to enhance online buying

Prices

  1. We will ensure our prices are relatively fare to boost demand for our goods along with maintain competitive
  2. Introduce different price policies which in return will attract various types of clients thus creating new market segments
  3. Will give discounts to our products thus making many of our customers to be frequent buyers

Distribution

  1. Will use the company XC brand logos that is highly recognized by most of our consumers to build other distribution channels in the market place
  2. Different distribution channels of our products will expand our sales thus increasing our profit.
  3. The uses of sales of agent that will enhance our products are distributed all over within the country.

Promotion

  1. The company will visit various homes with our products and show the uniqueness of our products through giving some of our products thus targeting many homes to be our customers.
  2. Greater efforts of sales and marketing through campaigns of holding holiday events and inviting many to come which will create awareness of our company and what it offers.
  3. Our company will make use of User status that includes having first time, potential along with regular customers toward the growth of our business.
  4. We will distribute our products in different regions based on goods pattern common in certain regions. For instance, freezers, which is best suitable in hot regions

TACTICS AND ACTION PLAN

  • The business intends to budget for at least $50,000 for marketing to ensure that, it is fully catered for.
  • The company will ensure it has effective team that will enhance effective distribution of our products to various channels
  •  Our employees will be trained on how to treat our customers thus converting our first time customers to be frequent shoppers and our existing customers to potential.

Timeline

  1. The campaign of visiting various homes will be launched in April next year that will run through December for a total of eight months.
  2. The training for our employees on how to handle our customers will run through July for one year
  3. From two months from now, the company will ensure it has the money required for marketing

EVALUATION OF MARKETING STRATEGY EFFECTIVENESS

The success will be measured through evaluating the effectiveness of our marketing strategies by the number of customers we will receive along with any consequent increase of our profits. This will take a period of five months from when marketing plans were put in place.

 

Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.

[order_calculator]