Marketing Plan Assignment

Marketing Plan Assignment Words: 786

Features include the following: if – 7 foot steam hose that is convenient for steaming hanging drapes and curtains. F – Fully retractable Jam proof swivel cord which stays out of the way during use and makes storage easy and the swivel cord Is less likely to crinkle or twist. This Is a feature that sakes the iron more attractive to customers if- Clear removable water tank The water tank is clear so that the user can see the water level. It can be removed to make filling easier and eliminates the mess and safety issues associated with pouring water directly into the tank however, this still can be done if the iron is in use when more water Is needed.

This feature is not found on many appliances of this type. If – Titanium soleplate with holes at tip. Titanium heats quicker and evenly while the extra holes provide steam In hard to reach areas where it Is needed. Consumers ant to get their ironing done as quickly and thoroughly as possible. An iron that heats quickly provides the speed that consumers would want, especially for those who iron in the morning before they go off to work. If – Programmable automatic shutoff and skin sensor.

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Can be programmed to automatically shutoff after various time lengths of Inactivity at the users discretion or If Iron falls or sits on soleplate without human touch. This feature Is unique to our product In that It Is programmable. If – Nozzle attachment for use on Items made of delicate materials and also for steaming drapes . With most iron/steamers the user must use the iron itself which is presents a problem due to weight when steaming drapes and curtains that are hanging. A nozzle attachment alleviates this issue. F – Programmable automatic self cleaning feature. This feature allows the user to program the iron to self clean on Its own without having to hold down a button. Automatically shuts off after cleaning. This Is another unique convenience feature that only our Iron provides. If – Programmable steam controller While many irons do not produce steam when set at low temperatures, this feature allows the user to set the manner n which the steam is ejected during low temperatures as well as high.

It can also be set to provide continuous steam or manually controlled bursts of steam. Consumer Product Classification The GO Is a specialty product that also fits Into the shopping product category. Compare product features and prices before making a purchase. Target Market There are two target markets in which the 6100 would be an excellent product. The first target market would be households with at least one parent working at the executive level and an income starting at $60,000. The convenience would be appealing.

Threat from New Entrants There is always the possibility of new companies creating a product similar to the 6100 however, the engineers and designers that work for Company G have proven to be very creative which keeps the Company ahead in the market. The only real threat would come from Tyson which, although specializing in vacuum cleaners and most recently blameless fans is dedicated to breaking new ground in electronics.. Most electronic companies avoid the small appliance market because they do not see profit in it. Threat from Buyers Consumers hold much power today due to the economy but I forecast no negative issues in this category.

A large majority of Company ;??was buyers are repeat customers who place great value on our products, our service, and our reputation. As long as Company G continues to produce quality products with features that appeal to current customers as well as potential customers we will succeed in the small appliance market as we have done with our other electronics. Threat from Suppliers Company G has a good rapport with current suppliers which will continue but the 6100 along with its sister products will quire new materials and components for which we will need new suppliers.

Because of this factor Company G runs the risk of having to new suppliers set prices higher than what their current purchasers are paying. Threat from Substitutes On any given day, a garment steamer would be a substitute for an iron and vice versa. The 6100 can be used as one or the other therefore has no substitute. There are of course other brands of irons that cost less and there may be other garment steamers that cost less but none have the unique features that can be found on the GIG 00. STOW Analysts The following is a STOW analysis of Company G.

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