Tactics and Action Plan9 Product Action Plan9 Price Action Plan9 Place Action Plan9 Promotion Action Plan9 Monitoring Procedures10 Introduction Company G offers high quality, cost effective, reliable products that will improve the lives of consumers. The company has created a place in the industry by creating new and exciting electronics. Company G strives in meeting a goal of guaranteeing customer satisfaction. We believe our new computer phone will allow consumers to enjoy the convenience of working on the computer and not missing a phone or having to stop what you were doing to answer the phone.
Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions. ” The Product The features of the computer phone include a wireless laptop, built in webcam and microphone, speakers, medium in size for portability, light weight, 10 hour battery, power cord, USB outlets for other devices to plug into computer, and easy to operate keyboard with built in mouse. All incoming and outgoing telephone calls are done directly from the computer.
The microphone lets you talk to the person on the line, the speakers allow you to hear what they are saying, and the webcam allows you to see the person on the other end of the phone call. You can go anywhere with this new computer never miss a phone, never get interrupted, and still be able to do your work all at the same time. Consumer Product Classification Target Market Our focus is on business individuals who are always on the go, which includes men and women typically between the ages of 25 and 60.
The Business plan on Intro To Business Businesses Product Consumers
Introduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living. It is a way for individuals to provide goods and services to ...
Majority of our consumers work full time jobs, have children, busy schedules, and many appointments. We want to make life easier when they are on the go and ensure they never miss an important meeting, game, or appointment. We will market to businesses as well as consumers who look for value in the cost of electronics as well as their functions. The consumers purchasing our product typically have a limited amount of space for many different products and will be looking for a product that can combine a variety of their electronic needs all in one device.
Competitive Situation Analysis Analysis of Competition using Porter’s 5 Forces Model Competitive Rivalry -The amount of products available shows that rivalry intensity is high. High intensity rivalry includes competitors that aggressively target each other’s market and pricing of products. Competitors are equal in size, market share and industry growth is slow, and fixed costs are high which creates competitive rivalry. Companies such as Dell, Apple, and Microsoft are among the list of rivalries for the company.
Threats from New Entrants -Threats from new entrants are low. The reason behind this is because of the upfront capital investments required to start this type of business. New entrants may be able to duplicate a similar product at a lower cost, but these are not seen as a major threat to the company. Distribution channels are difficult to access which causes low barriers of entry. The internet has very little impact because of high technology development costs and manufacturing costs. Threat from Buyers –There is a minimal threat to the company from buyers.
Company G’s product is priced reasonable and the quality as well as the features are unmatched. Consumer switching prices are high which would not make it easy for buyers to produce this product themselves. The internet could have an impact if buyers came together online and made demands such as discounts. Threat from Suppliers- Company G has had a long and good relationship with its current suppliers. However, the new technology that is used to produce the new product is not mass-produced. There are very few suppliers compared to the amount of buyers.
The Research paper on General Electric Medical Systems – Global Product Company Concept
The Global Product Company concept means ”to concentrate manufacturing – and ultimately other activities – wherever in the world it could be carried out to GE’s exacting standards most cost-effectively”. That means that the production is moving to countries where people are mostly underutilized (the example given in the case study tells about engineers from Eastern Europe, who cost only $1,5/h). ...
Suppliers could come together and begin producing this product themselves. This would impact how Company G would continue producing the product at a reasonable price because suppliers could start selling directly to online consumers. This would impact the product price, distribution, and marketing processes. Threat from Substitutes – The threat of substitute products in the market is high. Consumers have the option of purchasing similar laptops that have basic features with a lower cost. The basic laptops are cheaper than Company G’s product which makes them a high threat substitute.
Company G’s Recognition Company G is a well-established firm in the electronics market. Consumers know what to expect when they purchase a product from this company. Recognition also includes the designers who develop the products. Recognition shows great strength to the company. Weaknesses Economy Consumers are looking to save money in the current economic environment. Most of the products that Company G produces are priced higher than most competitors. The economy is seen as a weakness if consumers look at the price of the product over the quality. Substitutes There are a few substitute products in the market that are similar to Company G’s product.
If consumers don’t feel the need to have an all in one product with a combination of features then the substitutes would be considered a weakness. Production Company G’s success is dependent on production. If there is a slowdown in production then the company will suffer the consequences; which is why production can be a weakness for the company. Opportunities Unique Features Company G has an opportunity for success by introducing new unique features in its product. With an outstanding design team, the company has the opportunity to use this to their advantage. The product will be the first of its kind that offers an all in one computer and phone while on the go. Increase Market
The Term Paper on Red Bull Product Company Brand
I. RED BULL'S HISTORY. Corporate legend has it that in the early 1980 s, while traveling to Asia on business, Austrian Dietrich Mateschiz came across some very popular "energy drinks." With his (self-describe) "uncanny instinct for successful product innovations", he schlepped a small sample of energy beverages back to Europe along with a big idea. Then with a clear vision and a lot of scientific ...
Company G has the opportunity to increase its market share with its dedication to quality and innovation. The designers at Company G are dedicated in producing products that improve the daily lives of consumers. Widen Product Line Company G has the opportunity to expand its product offerings through its innovation and quality. The company strives on producing multiple products. Company G can use their innovations and make several electronics that will benefit consumer’s lives. Threats Substitutes A threat to Company G is substitute products. Although Company G makes products that improve the daily lives of consumers, some may choose lower priced products which offer only basic features. Buyers Buyers can be a threat to the company’s success.
The company strives on the availability of its products in a number of stores as well as online, and the price for the quality of its products. However, if buyers come together and demand discounts it could lead to a failure for the company and the product. Competition Competition will always be a threat for the company. Although Company G produces a one of a kind unique product with advanced features, there may be a competitor that produces something even better and of higher quality in the future. Market Objectives Product Objective The product objective is to inform potential consumers about the value the product brings along with a list of unique features leading to a 17 % gain in sales for one year.
