Mkt1 Essay

2224 WordsJun 12, 20149 Pages
MKT1Western Governors University Table of Contents The Product .........................................2 Target Market ......................................2 Competitive Situation Analysis ...........2 SWOT Analysis....................................3 Market Objectives ................................4 Marketing Strategies ............................4 Tactics and Action Plan ........................5 Monitoring Procedures .........................7 The Product Company G has striven to make some of the best mixing products at the least cost to the company and consumers. The Little Wonder, Company G's new, smaller, mixing product comes with characteristics that are hard to ignore and a 4 year warranty that is double that of competing products. Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” Some features of the Little Wonder that support Company G's mission statement: - An auto-stop mixing and ice filling feature that makes sure the Little Wonder makes the easiest, smoothest, and most delicious concoctions. This feature makes it clear that Company G is sticking to it's mission of providing consumers with high-quality, innovative electronic solutions. - A 4 year warranty that allows customers to easily return or exchange the Little Wonder no matter what the issue. This important feature shows that Company G stands behind it's product and also demonstrates it's mission to improve customer's lives with quality and convenience. Consumer Product Classification Considering both consumer and marketing mix factors, the Little Wonder falls under the convenience classification. Convenience attributes like locale, image, purchase amount, distribution, outlet numbers, and promotion will be defined by client's and their budgets. Target Market Company

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