Wgu Mkt1 Marketing Plan Essay - 3383 Words

Company Q 3-Year Marketing Plan Table of Contents Introduction 3 Mission Statement 3 The Product 3 Consumer Product Classification 4 Target Market 4 Competitive Situation Analysis 4 Analysis of Competition using Porter’s 5 Forces Model 4 SWOT Analysis 5 Strengths 6 Weaknesses 6 Opportunities 6 Threats 7 Market Objectives 8 Product Objective 8 Price Objective 8 Place Objective 8 Promotion Objective 8 Marketing Strategies 8 Product Strategies 9 Price Strategies 9 Place Strategies 9 Promotion Strategies 9 Tactics and Action Plan 10 Product Action Plan 10 Price Action Plan 10 Place Action Plan 11 Promotion Action Plan 11 Monitoring Procedures 11 Introduction Company Q produces the GWell Air†¦show more content†¦Mission Statement â€Å"We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.† The Product The QWell Air Purifier is an electronic product that has a multistage filtration system and an ultraviolet bulb for detecting bacteria and germs. The system effectively cleans the air in enclosed spaces like the rooms of the house of dust, pollen, or smoke at high or low speed, without impeding airflow of the forced-air heating and cooling systems in the home. The QWell Air Purifier enables consumers to improve the quality and convenience of their lives by making it easy to purify the air using electronically controlled systems. The unit automatically adjusts its fan speed to the appropriate setting suited to the current level of dust in the room. It is a very useful appliance for people with young children in the home or elderly people who are very sensitive to particles suspended in the air which can cause allergies, respiratory problems and asthma attacks. Consumer Product Classification The QWell Air Purifier falls under the Shopping Products classification in the Marketing Mix Factors and falls under mix Specialty Products and Shopping Products in the Consumer Factors. The Air Purifier is a Shopping Product because it typically cost more than convenience goods and consumers will purchase the product only after comparison with competing products on its price and quality. As aShow MoreRelatedWGU MKT1 Marketing Plan3771 Words   |  16 Pagesï » ¿Company Q 3-Year Marketing Plan Table of Contents Table of Contents 2 Introduction 4 Mission Statement 4 The Product 4 Consumer Product Classification 5 Target Market 5 Competitive Situation Analysis 5 Analysis of Competition using Porter’s 5 Forces Model 5 The threat from substitute products is low as there are not too many substitute products available. The price of QWell Air Purifiers is competitive and the quality is differentiated and better from other products of the same classification