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three-year marketing plan - Essay Example

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Marketing
Pages 6 (1506 words)

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Three-year marketing plan A. Product Support of Mission Statement 1. Explain how the small appliance, you have selected, supports Company G’s mission statement provided in the introduction. The mission statement of Company G depicts its long-run intention to “enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions”…

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three-year marketing plan

2. Classify Company G’s products using the three-way consumer product classification system. Small appliances, such as ice-cream makers are now-a-days becoming tremendously popular. Applying the three-way consumer product classification system, Company G’s products can be categorized as convenience goods by a large extent. Notably, the classification system divides commodities into three categories, i.e. convenience goods, shopping goods and specialty goods, among which, the offered product as Company G’s ice-cream maker satisfies the characteristics of convenience goods. However, a few of its characteristics can also be observed as satisfying the characteristics of specialty goods (Boone & Kurtz, 2011). B. Target Market 1. Describe the target market for the company’s product. It has been mentioned above that Company G will aim at launching an ice-cream maker for the convenience of its customers with added technology features and quality. In this regard, the company will be targeting the middle-level economic groups, especially the households or families with children. ...
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