Company G is a well-established firm that is highly regarded in the electronics market. Its mission statement is as follows:
“We enable consumers to improve the quality and convenience of their lives by providing high- quality, innovative electronic solutions.”
Company G’s engineers and designers have developed a line of small appliances that the company feels can be very successful in the small-appliance market. The company feels that the current
marketing plan for its products does not put them in a position to reach the profit potential for the small appliances.
Success with the new line will depend upon an accurate assessment of the market and a well- crafted, effectively implemented marketing plan that will fit the current market.
As the marketing manager, you are charged with the responsibility of developing a new marketing plan that will enable the company to reach the full profit potential of one small appliance from the
new product line.
The president has suggested that you use the “clean sheet of paper” concept as you develop the plan; therefore, during the time you are creating the new plan, all details of the company’s existing
electronics marketing plan are to be considered irrelevant. The intent is that current strategies, practices, etc., will be considered for relevance and possible continuance only after your new
plan has been presented to and is understood by top management.
Company G’s team of engineers and designers have developed a line of top-quality small appliances, and through concept and prototype testing, they have shown that the visual design features are
very appealing to potential buyers and give a distinct impression associated with quality and artistic elegance. Extensive testing has demonstrated that the new products may be the most reliable
line of products in the small-appliance industry. Additionally, the team has designed a production process that is very efficient in terms of labor and production-line time and that will result in
very little raw materials waste. The combination of these efficiencies and the relatively small front-end investment for this line will result in the company’s ability to produce each of the
products in the line at a cost that should enable them to emerge as the lowest-cost producer in the small-appliance industry.
Company G has a low debt-to-equity ratio and a high credit rating. It enjoys excellent relationships with current suppliers, but because of differences in material requirements, new raw material
suppliers will be needed to support the small appliance line. Company G will also need new suppliers for two component parts that will be purchased ready for assembly into some of the small
The credit terms Company G offers to intermediaries in their distribution channel are typical for their industry. Marketing research has shown that the company’s brand and logo are readily
recognized by most categories of electronics product consumers.
Prepare a one-year marketing plan using the “Company G One-Year Marketing Plan Template” for one of the small appliances from the new line.