Mitsubishi Elevators Essay

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1. EXECUTIVE SUMMARY This three year marketing plan for Mitsubishi Corporation has been created by Villa College Students Market Research Association. This marketing plan was conducted to determine the feasibility to introduce the Mitsubishi elevators to the Maldivian market. Although a competitive product is currently in the market, there is opportunity for the Mitsubishi elevators to penetrate into the market. The reasons being that the target market has a demand for more advanced high tech and prestigious products, the construction industry is currently booming, there are uncertainties regarding the efficiency and the reliability of the competitor’s products and the country is targeting to become a carbon neutral country by 2020. The Marketing mix was determined based on the research of the market. Accordingly, the product strategy is to inform the market of the advantages of Mitsubishi elevators and to label and pack the product in a user friendly manner, the place strategy is to distribute the product through an exclusive distributor, the pricing strategy is to use price skimming and the promotional strategies includes the use of advertising, public relations and discount offers. Therefore, this is the precise time to introduce the Mitsubishi elevators to Maldivian market. 2. INTRODUCTION This marketing plan was conducted by Villa College Students Market Research Association, for the Mitsubishi Corporation, Japan. The purpose of this marketing plan is to provide information and strategies to Mitsubishi Corporation, to facilitate them to introduce Mitsubishi elevators to the Maldivian market. However, there were limitations in conducting the market research. Firstly, since we are students we do not have sufficient funds to conduct primary research and collect primary data. Therefore, this research was completed based
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