Business Pl Marketing Plan - 1854 Words

3-YEAR MARKETING PLAN As you may already know Company G is looked up at in the world of electronics. Company G is at it again with its latest convenience in the kitchen. Company G is proud to announce its new â€Å"Voice Activated Spice Rack (VASR)†. Mission Statement: â€Å"We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.† Product Description and Classification: The VASR comes in two different styles, black and the limited wood trimmed edition. Each can hold 32 different kinds of spices. Inside the spice rack is 32 separate holding cells for your selected spices. The spice is 6 inches tall, 8 inches wide and 12 inches long which take less space in your†¦show more content†¦Competitive situation analysis: Company G is an innovative company that listens to consumer needs and wishes with state of the art technology to plan, build up, and create a number of the mass innovative electronics in the world. With the new VASR, consumers can expect nothing less than a high quality product at a competitive price. Examination of opposition by means of Porter’s 5 forces model: 1. Competitive Rivalry: The main competitors are Coffee Mate, Cuisine art, and Kitchen Aid. Kitchen Aid is the current leader controlling roughly 53% of the market. Competitors use the TV and the internet to market their product to a wide range of customers. 2. Threat from New Entrants: The small appliance market is already well established and has maintained an average annual growth of 9% over the last 15 years. The potential threat level from new entrants is small, because competition in this market is already high which can be discouraging for a startup competitor. 3. Threat from Buyers: Retailers are the main buyers of Company G’s products. Retailers most often demand lower pricing in exchange for them to stock large quantities of Company G’s products. Retailers sell their products to a well diverse customer base that consists of distributors, end consumers, and generic producers. Internet retailers sell to an even bigger customer base, because they can reach to customer around theShow MoreRelatedBusiness Pl Marketing Plan2493 Words   |  10 Pages BUSINESS PLAN Bradkir Foods Derek A Rotz, Owner August 21, 2016 â€Æ' 1. EXECUTIVE SUMMARY 1.1 Product Bradkir Foods will make premium pie filling for every pie filling need. All different types of pie filling will be made with only the best fruit and ingredients. 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