Mkt1 Essay

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A. Product Support of Mission Statement Company Mission Statement: “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” 1. The “Make It All” provides it’s customers with the newest technology in kitchen appliances. The new processor can actually do the job of five different kitchen appliances. The Make It All is a food processor, blender, smoothie maker, coffee grinder, and juicer all rolled into one sleek machine to not only help the consumer make things quick and easy but it also frees up a tremendous amount of counter space. 2. Classify Company G’s products using the three-way consumer product classification system. 3-Way Consumer product classification system: Convenience Goods: Convenience goods are inexpensive goods that are purchased often and there is little effort needed in purchasing them Shopping Goods: Shopping goods are usually high risk products that consumers like to shop around to find the best features and price for the given product. Specialty Goods: Specialty goods are goods that are purchased infrequently. With that being said when purchasing these goods consumers conduct extensive research to ensure that their decision is right due to the price and infrequent purchases. The “Make It All” would fall under the Shopping goods area as it is something that could be high risk. Given that this item is multifunctional the prospective consumer is going to have to be informed on all of the functions so that they can understand the “need” to have it and therefore they will know that it is well worth the money spent. B. Target Market 1. Describe the target market for the company’s product. The target market for the “Make it All” is very wide. This small appliance is good for everyone from the starting out college student all the way to the educated

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