Competitive Situation Analysis Research Proposal

Marketing

Company G. wishes to launch a line of small appliances. The marketing plan is designed to guide the process of bringing that line to market. The line will initially begin with a couple of products, but will eventually expand to fill a broad portfolio of products. Within Company G, the small appliances line has been developed not only to take advantage of an opportunity in the market, but is designed to give Company G. A growing product line in order to bolster stagnating revenues. This plan will outline the process by which the line will be marketed.

Mission Statement

With its new line, Company G. has the objective of becoming a premium player in the small appliance industry. These new appliances will bring professional quality into your kitchen, but at domestic prices. Our mission is to help you cook your best.

Market Objectives

The target market for the company’s new line is the middle-income younger consumer. This consumer will be university educated, but not in a financial position to purchase the high end kitchen products currently on the market. Yet, this consumer has a high degree of knowledge about food. He or she watches cooking shows, and has a high level of exposure to global food, if not fine dining. Our target consumer will range from 25-35, and may be starting a family. This consumer is urban, and prefers to shop in boutique stores or online, rather than in traditional department stores or discount stores. This customer wants to have a wide range of kitchen gadgets, but needs to be able to afford them. A professional by trade, our target consumer places emphasis on variety in cooking, and seeks to make the most of his or her limited time in the kitchen.

There are four main marketing objectives. The first is to develop a range of at least one dozen products. At present, the first product will be a blender, but this will be followed by hand mixers, coffee and spice grinders and other similar motorized products. The target price for the range will be 20% higher than the baseline product but 50% lower than the super-premium benchmark, to the extent that these objectives are not mutually exclusive. Distribution should be nationwide within three years in stores, but initially will be focused on the West Coast markets. Internet distribution will be national immediately through a deal with either UPS or FedEx. The product’s promotions should reach at least 40% of the target market within the first year, and the objective is that brand recognition will be achieved with at least 50% of the target market within two years.

Competitive Situation Analysis

The small appliance industry is subject to intense competition. There are a number of players in the market, covering all different segments. Some competitors compete broadly — firms like Braun or Procter-Silex for example — while others specialize. Many compete as low cost producers, while there is also intense competition in high end as well. The middle — where our company intends to compete — is not as intense but still faces competition from the highest products of the low-end producers and the lowest products of the high-end producers.

Porter’s five forces model helps to understand the forces that impact a firm’s pricing power. The forces are the power of buyers, the power of suppliers, the threat of new entrants, the threat of substitutes and the intensity of industry rivalry. In this industry, buyers have high power. They are well-educated about the products, and comparison shop, giving the buyers bargaining power. They are often price sensitive as well. Suppliers have relatively low power. These include manufacturers and parts makers. They tend to be located in Asian countries and compete vigorously with one another for contract manufacturing and assembly business. Low switching costs for small appliance marketers gives them high power over suppliers as well. There are few barriers to entry. Distribution and capital intensity are among the bigger barriers, but are not difficult for a large multinational to overcome. There are some vague substitutes — non-electric devices, eating out, etc. — but these are generally weak. Thus the threat from substitutes is relatively low. Within the industry, there is only limited intensity of rivalry. The industry is not especially concentrated, many firms operate in other businesses and there is a healthy diversity of rivals. Overall, the industry is relatively positive with respect to the five forces. Firms in the industry should be able to enter the business and develop some degree of pricing power. That said, most positions in the industry have already been staked out, meaning that for a new firm to become established will take a lot of hard work.

SWOT Analysis

Company G. is a long-established company with a solid brand name and a deep war chest. Although it has never competed directly in small appliances, it has competed in complementary businesses so its brand will be well-known to consumers. G has put a significant amount of resources, both human and financial, behind this effort, including some top R&D staff to develop the best products. The company has strong arrangements with manufacturers overseas because of prior contractual arrangements with these companies. That said, there are a number of weaknesses. Company G. does not have strong distribution for small appliances as these pass through channels the company has not traditionally used. Its brand has suffered in recent years due to quality defects, which is one of the reasons the firm wants to differentiate. In addition, its products have not established themselves among consumers, as this is a new line of business for G.

The move into small appliances is to capture an opportunity that G. believes is in the market. The so-called ‘baby boom echo’ is now passing into adulthood, representing a large demographic with sophisticated food tastes and experience as a result of growing up with food television, online recipes and a plethora of ethnic dining. The needs of this generation are generally not being met by the current crop of small appliance makers — they cannot afford high end equipment but require something more sophisticated than what might be found at Wal-Mart. There are also opportunities to take the line overseas to countries with similar characteristics, such as Canada, the UK or Australia, or even to developing nations with similar economic profiles to 20-something adults in the U.S. That said, the existing players in the industry represent a significant threat to all new entrants. The existing distribution channels pose a threat as the best of them do not reach this target audience to an ideal degree. In addition, the prolonged economic downturn threatens our target market as younger workers often suffer more during economic distress, and would therefore be forced to cut all unnecessary items from their budget, small appliances included.

Marketing Strategies

Three product strategies are: to launch multiple products; to position those products in the desired place as measured by customer surveys; to have the products fall within specs for defects and returns. Three price strategies are the 20% premium to the standard products, the 50% discount to the high end benchmark products and to maintain the target gross margin. Distribution should be regional in the first year; national online in the first year; and 80% of the target market should have to travel no more than 30 miles to find one. Promotion strategies will include achieving targeted brand exposure levels, to achieve targeted brand positioning levels and to bring the promotion in line with the promotion budget.

These strategies work together in a number of ways to help the company achieve its goals. For example, the productions specs element of the product strategy will support the efforts made with respect to product positioning. The desired positioning for this product is supported also by the containment of the gross margin, as this will prevent prices from rising too high for out target market. The product line is intended to reach the mass market, and this is supported in the distribution strategy. Most of the strategies are specifically actionable and contain elements that can be measured. The latter is necessary for the development of strong control mechanisms that will ensure optimal performance.

Tactics and Action Plan

The action plans relate to specific activities that need to be conducted in the context of this marketing effort. The elements of the action plan will include the action, the time frame and the party responsible. The objective of the action plan is that it will help the firm to divide the responsibilities, coordinate the efforts of different departments and understand how the work of the different departments complements the work of the other departments. The plans at this stage are outlined, but eventually there will be dozens if not hundreds of responsibilities contained in these plans, leading to job descriptions composed by human resources that will ensure each task has the adequate human resources designated for it, and a budget from finance that will ensure adequate financial resources are given to ensure that all relevant tasks are completed.

Product Action Plan

Tactic

Due Date

Responsible Party

Launch blenders

Within 2 months

R&D

Launch hand mixers

Within 6 months

R&D

Achieve quality specs

Immediately

Production, R&D

Price Action Plan

Tactic

Due Date

Responsible Party

Define low end benchmark

Within 1 month

Marketing

Define high end benchmark

Within 1 month

Marketing

Drive down production costs

Within 2 months

Production

Place Action Plan

Tactic

Due Date

Responsible Party

Sign regional distribution deal

Within 1 month

Marketing

Sign Internet shipping deal

Within 2 months

Logistics

Set up website

Within 1 month

IT

Promotion Action Plan

Tactic

Due Date

Responsible Party

Develop advertising philosophy

Within 2 weeks

Marketing

Develop advertising budget

Within 1 month

Finance, Marketing

Develop performance measures

Within 2 months

Marketing

Monitoring Procedures

Monitoring procedures help to ensure that the plan is functioning as it is intended. The monitoring procedures cover all the different dimensions of the plan, including the budget, the reach, the message and other facets. The procedures will include a range of feedback mechanisms that will deliver information in a timely fashion to management with respect to a number of aspects of the marketing plan.

Monitoring Activity

Due Date/Frequency

Responsible Party

Budget monitoring

Weekly

Finance

Reach and positioning surveys

Monthly for the first 2 years

Marketing

Product testing for defects

Constant

Production

Returns and complaints investigation

Constant

Production, R&D

Conclusion

The marketing plan is designed to help the company meet its stated objectives in launching a new line of small appliances. Armed with a budget, staff, a concept and a target market, Company G. aims to help a new generation of consumers help to cook better. There is reason to believe that the needs of these consumers are not being adequately met by the competitors in the market. That said, the market is saturated and there are a number of strong competitors at both the high and low end. This marketing plan shows how Company G. will reach its target market and avoid directly competing with any of the major established firms in the industry.


Get Professional Assignment Help Cheaply

Buy Custom Essay

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently
 

Online Academic Help With Different Subjects

Literature

Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.

Finance

Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!

Psychology

While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.

Engineering

Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.

Nursing

In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.

Sociology

Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.

Business

We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!

Statistics

We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.

Law

Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

  • When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
  • We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

  • The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
  • We will have a different writer write the paper from scratch.
  • Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment  Help Service Works

1.      Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2.      Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3.      Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4.      Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

smile and order essaysmile and order essay PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!

order custom essay paper