WGU MKT1 Marketing Plan - 3771 Words

Company Q 3-Year Marketing Plan Table of Contents Table of Contents 2 Introduction 4 Mission Statement 4 The Product 4 Consumer Product Classification 5 Target Market 5 Competitive Situation Analysis 5 Analysis of Competition using Porter’s 5 Forces Model 5 The threat from substitute products is low as there are not too many substitute products available. The price of QWell Air Purifiers is competitive and the quality is differentiated and better from other products of the same classification in the market. 6 SWOT Analysis 6 Strengths 7 Another weakness of Company Q is in marketing and promotions. Even the best products have to be marketed and sold. Since the major stockholders of the company are technology and production†¦show more content†¦In addition, the company’s production process is very efficient and results in a minimal amount of raw material waste. These factors and the small-front investment for the product will enable to company to offer the products at the lowest possible cost in relation to similar products in the market. The debt-to-equity ratio of Company Q is very low while its credit rating is high. The relationship of the company with current suppliers is excellent, but raw materials are also sourced from other suppliers. The credit terms offered by Company Q to intermediaries in their distribution channel are typical for the industry. According to marketing research, the QWell brand and logo are readily recognized by most categories of electronics product consumers. Mission Statement â€Å"We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.† The Product The QWell Air Purifier is an electronic product that has a multistage filtration system and an ultraviolet bulb for detecting bacteria and germs. The system effectively cleans the air in enclosed spaces like the rooms of the house of dust, pollen, or smoke at high or low speed, without impeding airflow of the forced-air heating and cooling systems in the home. The QWell Air Purifier enables consumers to improve the quality and convenience of their lives by making it easy to purify the air using electronically controlled systems. The unit automaticallyShow MoreRelatedWgu Mkt1 Marketing Plan Essay3383 Words   |  14 PagesCompany Q 3-Year Marketing Plan Table of Contents Introduction 3 Mission Statement 3 The Product 3 Consumer Product Classification 4 Target Market 4 Competitive Situation Analysis 4 Analysis of Competition using Porter’s 5 Forces Model 4 SWOT Analysis 5 Strengths 6 Weaknesses 6 Opportunities 6 Threats 7 Market Objectives 8 Product Objective 8 Price Objective 8 Place Objective 8 Promotion Objective 8 Marketing Strategies 8 Product Strategies 9 Price Strategies 9 Place