Company G. 3-Year Marketing Plan
Company G
3-Year Marketing Plan
Table of Contents
Introduction Company G is a green initiative company that is primarily focused on the health and wellness of society and how to live a more relaxed life while helping to reduce the abuse of natural resources and the waste we produce. While we are beginning our processes for invention one product we would like to start with is the “motion sensor lotion bottle” this would be used primarily by massage therapist and estheticians who need ease of access to lotions and creams without contamination of product to their clients.
Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing innovative electronic green solutions.”
The Product
The …show more content…
motion sensor lotion bottle supports our green campaign by reducing the amount of waste that is overall exceedingly increased by the salons and spas nationwide as well as internationally. We can help reduce the waste by providing reusable, energy efficient and cleaner approach to retrieval of the products that are used by all who work in this industry.
The product will have the ability to be portable for the therapist that needs mobility or stable for the esthetician that needs consistency of knowing where the product is at all times. Having charging stations will allow the portable units the time needed to recharge for the next day’s usage while the stable units will have a timer on their usage of electricity. By using the charging systems we enable the limited use of batteries as an additional expense saving the industry excessive costs and backing our product with a warranty. This will also help to support Company G’s overall mission of promoting green.
Consumer Product Classification The motion sensor lotion bottle is a specialty classification product. While the market that will utilize this specialty product is limited, it will provide consumers with a convenience factor that is currently not being addressed in this industry. By identifying this as a specialty product, we will use our brand recognition to assist with sales and promotion while building additional reputation in new markets that currently aren’t familiar with our brand name. This item borders a convenience offering, but, due to the nature of how specialized the target market is classification as a specialty offering is necessary. This could also fall under a shopping offering, as some consumers may shop around for other options that might be more cost effective, but once quality is demonstrated through product exhibits at trade shows they will be able to better ascertain their commitment to this eco-friendly, cost effective resource.
Target Market The target market for our product will be hospitals, MD Clinics, salons, spas, independent owners/operators of salon clinics, massage clinics, Physical therapy clinics, sports medicine, Athletic trainers, schools that educate health related professionals and various other health related professionals. The purpose is to provide a small appliance that is earth friendly, while convenient to use and maintains the health of their consumers by reducing the areas that are touched by the health care professional which will overall reduce cross contamination. These professionals are looking for ways they can reduce the potential for cross contamination and keep employees and consumers safe. We provide this solution as a cost effective alternative that will overall impact their bottom line.
Competitive Situation Analysis
Analysis of Competition using Porter’s 5 Forces Model
Competitive Rivalry, while we at Company G are aware that other companies have designed and are marketing products similar to ours, the variation lies in our product design. We are using rechargeable and renewable energy sources that may be preferable for the potential buyer. If a salon that is built around solar power our product adapts to meet this requirement. If they are using less energy to be efficient we offer timers that shut off use of electricity after charging is complete to reduce consumption. This puts Company G in line for direct competition with all potential rivals.
Threat from new entrants is possible, but as we are protecting our ideals with patents then we reserve certain intellectual rights over the product. However, new companies may develop something similar and we are prepared to address and adapt our product as necessary for any new information that we gain. Our current best resource is monitoring the internet for potential leaks of product information as well as the research and development of new products being tested.
Threat from buyers exists solely on the product itself. As we are offering a warranty to support the product, this is reduced, however, the target market is sometimes skeptical in trying new equipment such as this. We will run beta test groups at reduced rates in exchange for marketing with their brand testimonials. For example, if we get Massage Envy Clinics to endorse our appliance line then others health clinics will start looking to buy this appliance.
Threat from suppliers is minimal overall.
There is the exception of renewable energy sources. Moreover the solar charging systems may fluxuate in cost efficiency as the economic markets shifts with all the new eco-friendly information that we are utilizing. However, we are not producing as many of our solar options just yet that will be an even more specialized product for the specific buyers that may need such an option. At this time the impact is low but we are watching costs and will plan accordingly by purchasing supplies as we notice reduced pricing. Internet use of alternative energy sources will greatly impact the cost of product resources we need for production. At this time the costs are steadily declining, and forecasted to stay this way, but we are …show more content…
monitoring.
Threat from substitutes currently doesn’t exist since we currently hold the patents for this product. This is being monitored by our research and development team for any new or like-minded products that appear.
SWOT Analysis
The SWOT analysis, has given us valuable information to support our decision in production. We have identified our weaknesses and are working to isolate these to overcome any obstacles so that we can build the best product at the best prices and meet client needs for a greener option.
STRENGTHS *indicates core competency
Company G Brand Recognition
Low Cost to Produce Product*
Relationship with Suppliers*
WEAKNESSES
Integration of New Suppliers for products Profit Potential Limited Component part supply
OPPORTUNITIES
Global expansion and identity Social/Eco-Friendly upswing Health Awareness shift
THREATS
International Competition making product cheaper Budgets of buyers to purchase Economic health care instability
Strengths
The strengths that we have identified are Company G’s brand recognition. We stand out in the market as the leader of appliances and have a following based on the list of products we already produce.
Low cost for production is also a strength as well as a core competency. We have built the business around a low cost because we utilize the most resources purchased and have very little waste. This initiate by Company G has been a defining factor for all our practices and to enable us to go green.
Company G also has a reputation with our suppliers that is above and beyond the normal. We have a very low debt and this has assisted us in developing relationships that will guide our products into the every changing market place while gaining new supplier relationships as well. This has also been a core competency of maintain relationships with our suppliers that go beyond. Having these relationships we ensure a stable work environment for us as well as them.
Weaknesses
Our first weakness is integrating new suppliers. While we have a very good relationship with suppliers, we now are developing relationships with new suppliers for products that are not our normal purchases. While this weakness is present now, it is one that can be overcome.
The second weakness would be assessing our profit potential. While the market is expanding we need to isolate and train our staff to understand who are target group is how their business lays our budgets and how we can market effectively to them to ensure profits.
The final weakness is the potential for limited supply of the new component parts that are required for final production of the appliance. While we have built the prototypes and know in advance what parts are needed, the integration of the new suppliers understanding our supply/demand structure could be a weakness that could delay production.
Opportunities
Some of the opportunities are the potential for global recognition and expansion once the identity of our brand and product become more main stream. This will happen across the health care professionals that we are marketing to as they train internationally. Also, a shared knowledge of products and appliances used to ease their work will expand our word of mouth recognition.
Next generation buyers are very eco-friendly and socially conscience of how their products are delivered. This upswing is bringing to light the opportunity for growth potential that is expected to tip the scales in our profits.
As our society is becoming more aware of health care and related issues, our appliance provides as economical solution that ensures their needs be meet in a way they haven’t been able to address up to this point. We can help raise awareness and offer solutions.
Threats
The threat of an international company being able to produce a like product for a cheaper cost is a viable threat at this time. We are monitoring all internet activity that surrounds prototypes of like appliances and doing what we can to isolate the field as we can. Maintaining new technologies and supplies to meet the demands of the product will help us to be the consistent provider as we have the better built product by not reducing our product design to short change the appliance and deliver the best product we can.
The next threat is marketing around budget development for health care professionals. How do we introduce our product at a cost effective approach to gain momentum until we can get mass product recognition? Identify companies that are willing to try for a reasonable cost and offer incentives for using their brand in our advertising.
An additional threat is the current economic stability of the health care industry. With the changes that face cost and reimbursement dollars, companies are looking at ways to reduce expenditures. While we can overall save them money this is how we can market to them the savings that can be achieved by using our appliances as well as the overall health and safety for their clients, reducing their risk for cross contamination.
Market Objectives
Product Objective
Our Motion sensor lotion bottle will enable all health care and allied health professionals the solution they need to provide the most cost effective, hygienic, and convenient access to products they use to help in the treatment of their clients/patients. This approach will be the service-dominate approach of marketing. This appliance supports our mission of providing and innovative electronic green solution. In addition, we will offer a warranty of the appliance to back our brand name recognition for producing a quality appliance. Our anticipated growth will be a 10% revenue increase over the next 2 years.
Price Objective Profit-oriented marketing is how we will establish our price objectives. Company G will offer through a beta test a very minimal charge to gain valuable knowledge about the product. Once we have updated features then we will start by offering contract rates that will create residual income. We will also sell independently to independent business owners. Over time we can measure our pricing structure and each business quarter discuss adaptations that need to be made to achieve profits. While addressing the anticipated revenue increase within 6 months we would like to see a stable 2.5%, 5% at 1 year, and 7.5% at 18 months and by year 2 the full 10% increase.
Place Objective
Company G will utilize a selective distribution for our motion sensor lotion bottle. As we can advertise in multiple catalogs as well as trade shows we can target the selective market that we are aiming for. Market research will be done to see what interest can be placed by making our target market aware of the new appliance. We can place strategically in various market groups to get word of mouth buzz started. We can measure this by orders places over the next 6 months to the year mark and see how they heard of our product.
Promotion Objective
The objective and task method of promotion is how we will determine how to promote this appliance.
As we study our placement and pricing we can better ascertain the level of promotion and where best to promote the motion sensor lotion bottle for maximum profits. We will start with a beta test market and gain feedback on the product to tweak any issues that arise. This will take place over the next 3 months so that we have time to modify the appliance if necessary. After, the initial 3 months, we will introduce the final product based on the feedback obtained. We will monitor our publications and sales based on the selective markets over the next 6 months to see where we need to focus to ramp up our presence. We expect to have 10% market response by 6 months post initial advertising. However, if this isn’t met, we will ramp up our market presence to internet placement as well as ramp up trade show appearances. After 1 year we would like to have 55% increase from catalogs and trade shows alone, with internet supplying an addition 30% to our distribution awareness.
Marketing
Strategies Company G has decided on various approaches to this marketing plan to ensure that we gain the most profit share in the service industry we are targeting. Our selective distribution will aid us in the promotion of our new appliance with the objectives and tasks that we have set forth to ensure maximum profits in an eco-friendly environment.
Product Strategies
Provide a green solution for allied health professionals that is convenient
Explain warranty for replacement or parts as needed by product flaws.
Demonstrate hygienic qualities with educational health support showing ease of use of new appliance.
Price Strategies
Status Quo pricing will be utilized while final product development is taking place with beta test being finalized over seek production cost plus 5% profit over production.
Price structures developed under contract for larger corporations or those that purchase in bulk to create consistent income
Independent owner/operators can purchase our product under contract, or for a onetime fee.
Place Strategies
Hospital and Allied Health catalogs for brand product awareness as well as in services to clinics
Websites for allied health professionals that can expand their ease of care, salons/spas.
Independent distributors that can have a reduced rate by servicing appliances they set up in clinics
Promotion Strategies
Trade Shows to advertise to our target markets
Advertising through sales promotions to specified markets
Public Relations and direct sales will be the next step to gain more market share by increasing our presence in the market.
Company G has the potential to be the leader of the best quality eco-friendly product distributor nationally. By isolating and completing these strategies, we will advance Company G’s alignment for exceptional growth. This mix of strategies integrate well with each aspect of the process and can support each other with interdisciplinary departmental teamwork.
Tactics and Action Plan The Action plan will be utilized to ensure that we are gaining market presence as well as adapting the product for the target groups identified. All plans will be finalized beginning at 3 months before launch and ongoing at various points through the initial launch. Incorporation of the legal team will be essential in ensuring out company’s best interest while preserving out brand recognition.
Product Action Plan
Tactic
Due Date
Responsible Party
Green convenient solution description
3 months prior release
Research and Development
Define Warranty parameters
3 month prior
Legal
Health hygienic education materials
1 months before launch
Research and Development
Price Action Plan
Tactic
Due Date
Responsible Party
Finalize production costs
2 months prior to launch
Accounting
Develop Group pricing/bulk
1 month prior to launch
Accounting; Legal
Independent pricing to be finalized
1 month prior to print ads
Accounting; Legal Place Action Plan
Tactic
Due Date
Responsible Party
Demonstrations/health fairs
Launch and ongoing
Sales
Website advertising
Launch and ongoing
IT; Public Relations
Specialty groups independents/trade shows/catalogs
Launch and ongoing
Sales
Promotion Action Plan
Tactic
Due Date
Responsible Party
Demos/trade fairs
Initial Launch
Sales
Brochures, sales ads
3 months prior and ongoing
Marketing/Advertising
All print, web, magazine, catalogs, television
1 month prior to Launch
IT, Sales, Marketing/Advertising, Legal
Monitoring Procedures We will monitor all strategies and process to ensure that we are meeting out guidelines or adapting new techniques if necessary to achieve market share. We want to promote the best our company has to offer and will do so as instructed in this plan. Monitoring will enable us a measurement for success.
Monitoring Activity
Due Date/Frequency
Responsible Party
Product awareness/feedback updates needed
Every 3 months
Product Manager
Pricing analysis
Monthly at beginning of month
Sales and Marketing
Distribution/market presence
Weekly, thru customer response of referral to product
Sales and Production team
Promotions/internet feeds
Weekly, monitoring feedback on product, consumer reports type sites
IT, Sale, Marketing
REFERENCES:
Tanner, J.F, Jr., Raymond, M.A., & McLean, S. (2011). Principles of marketing and business communication (Version
1.0.2). Irvington, NY: Flat World Knowledge.
3-Year Marketing Plan
Table of Contents
Introduction Company G is a green initiative company that is primarily focused on the health and wellness of society and how to live a more relaxed life while helping to reduce the abuse of natural resources and the waste we produce. While we are beginning our processes for invention one product we would like to start with is the “motion sensor lotion bottle” this would be used primarily by massage therapist and estheticians who need ease of access to lotions and creams without contamination of product to their clients.
Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing innovative electronic green solutions.”
The Product
The …show more content…
motion sensor lotion bottle supports our green campaign by reducing the amount of waste that is overall exceedingly increased by the salons and spas nationwide as well as internationally. We can help reduce the waste by providing reusable, energy efficient and cleaner approach to retrieval of the products that are used by all who work in this industry.
The product will have the ability to be portable for the therapist that needs mobility or stable for the esthetician that needs consistency of knowing where the product is at all times. Having charging stations will allow the portable units the time needed to recharge for the next day’s usage while the stable units will have a timer on their usage of electricity. By using the charging systems we enable the limited use of batteries as an additional expense saving the industry excessive costs and backing our product with a warranty. This will also help to support Company G’s overall mission of promoting green.
Consumer Product Classification The motion sensor lotion bottle is a specialty classification product. While the market that will utilize this specialty product is limited, it will provide consumers with a convenience factor that is currently not being addressed in this industry. By identifying this as a specialty product, we will use our brand recognition to assist with sales and promotion while building additional reputation in new markets that currently aren’t familiar with our brand name. This item borders a convenience offering, but, due to the nature of how specialized the target market is classification as a specialty offering is necessary. This could also fall under a shopping offering, as some consumers may shop around for other options that might be more cost effective, but once quality is demonstrated through product exhibits at trade shows they will be able to better ascertain their commitment to this eco-friendly, cost effective resource.
Target Market The target market for our product will be hospitals, MD Clinics, salons, spas, independent owners/operators of salon clinics, massage clinics, Physical therapy clinics, sports medicine, Athletic trainers, schools that educate health related professionals and various other health related professionals. The purpose is to provide a small appliance that is earth friendly, while convenient to use and maintains the health of their consumers by reducing the areas that are touched by the health care professional which will overall reduce cross contamination. These professionals are looking for ways they can reduce the potential for cross contamination and keep employees and consumers safe. We provide this solution as a cost effective alternative that will overall impact their bottom line.
Competitive Situation Analysis
Analysis of Competition using Porter’s 5 Forces Model
Competitive Rivalry, while we at Company G are aware that other companies have designed and are marketing products similar to ours, the variation lies in our product design. We are using rechargeable and renewable energy sources that may be preferable for the potential buyer. If a salon that is built around solar power our product adapts to meet this requirement. If they are using less energy to be efficient we offer timers that shut off use of electricity after charging is complete to reduce consumption. This puts Company G in line for direct competition with all potential rivals.
Threat from new entrants is possible, but as we are protecting our ideals with patents then we reserve certain intellectual rights over the product. However, new companies may develop something similar and we are prepared to address and adapt our product as necessary for any new information that we gain. Our current best resource is monitoring the internet for potential leaks of product information as well as the research and development of new products being tested.
Threat from buyers exists solely on the product itself. As we are offering a warranty to support the product, this is reduced, however, the target market is sometimes skeptical in trying new equipment such as this. We will run beta test groups at reduced rates in exchange for marketing with their brand testimonials. For example, if we get Massage Envy Clinics to endorse our appliance line then others health clinics will start looking to buy this appliance.
Threat from suppliers is minimal overall.
There is the exception of renewable energy sources. Moreover the solar charging systems may fluxuate in cost efficiency as the economic markets shifts with all the new eco-friendly information that we are utilizing. However, we are not producing as many of our solar options just yet that will be an even more specialized product for the specific buyers that may need such an option. At this time the impact is low but we are watching costs and will plan accordingly by purchasing supplies as we notice reduced pricing. Internet use of alternative energy sources will greatly impact the cost of product resources we need for production. At this time the costs are steadily declining, and forecasted to stay this way, but we are …show more content…
monitoring.
Threat from substitutes currently doesn’t exist since we currently hold the patents for this product. This is being monitored by our research and development team for any new or like-minded products that appear.
SWOT Analysis
The SWOT analysis, has given us valuable information to support our decision in production. We have identified our weaknesses and are working to isolate these to overcome any obstacles so that we can build the best product at the best prices and meet client needs for a greener option.
STRENGTHS *indicates core competency
Company G Brand Recognition
Low Cost to Produce Product*
Relationship with Suppliers*
WEAKNESSES
Integration of New Suppliers for products Profit Potential Limited Component part supply
OPPORTUNITIES
Global expansion and identity Social/Eco-Friendly upswing Health Awareness shift
THREATS
International Competition making product cheaper Budgets of buyers to purchase Economic health care instability
Strengths
The strengths that we have identified are Company G’s brand recognition. We stand out in the market as the leader of appliances and have a following based on the list of products we already produce.
Low cost for production is also a strength as well as a core competency. We have built the business around a low cost because we utilize the most resources purchased and have very little waste. This initiate by Company G has been a defining factor for all our practices and to enable us to go green.
Company G also has a reputation with our suppliers that is above and beyond the normal. We have a very low debt and this has assisted us in developing relationships that will guide our products into the every changing market place while gaining new supplier relationships as well. This has also been a core competency of maintain relationships with our suppliers that go beyond. Having these relationships we ensure a stable work environment for us as well as them.
Weaknesses
Our first weakness is integrating new suppliers. While we have a very good relationship with suppliers, we now are developing relationships with new suppliers for products that are not our normal purchases. While this weakness is present now, it is one that can be overcome.
The second weakness would be assessing our profit potential. While the market is expanding we need to isolate and train our staff to understand who are target group is how their business lays our budgets and how we can market effectively to them to ensure profits.
The final weakness is the potential for limited supply of the new component parts that are required for final production of the appliance. While we have built the prototypes and know in advance what parts are needed, the integration of the new suppliers understanding our supply/demand structure could be a weakness that could delay production.
Opportunities
Some of the opportunities are the potential for global recognition and expansion once the identity of our brand and product become more main stream. This will happen across the health care professionals that we are marketing to as they train internationally. Also, a shared knowledge of products and appliances used to ease their work will expand our word of mouth recognition.
Next generation buyers are very eco-friendly and socially conscience of how their products are delivered. This upswing is bringing to light the opportunity for growth potential that is expected to tip the scales in our profits.
As our society is becoming more aware of health care and related issues, our appliance provides as economical solution that ensures their needs be meet in a way they haven’t been able to address up to this point. We can help raise awareness and offer solutions.
Threats
The threat of an international company being able to produce a like product for a cheaper cost is a viable threat at this time. We are monitoring all internet activity that surrounds prototypes of like appliances and doing what we can to isolate the field as we can. Maintaining new technologies and supplies to meet the demands of the product will help us to be the consistent provider as we have the better built product by not reducing our product design to short change the appliance and deliver the best product we can.
The next threat is marketing around budget development for health care professionals. How do we introduce our product at a cost effective approach to gain momentum until we can get mass product recognition? Identify companies that are willing to try for a reasonable cost and offer incentives for using their brand in our advertising.
An additional threat is the current economic stability of the health care industry. With the changes that face cost and reimbursement dollars, companies are looking at ways to reduce expenditures. While we can overall save them money this is how we can market to them the savings that can be achieved by using our appliances as well as the overall health and safety for their clients, reducing their risk for cross contamination.
Market Objectives
Product Objective
Our Motion sensor lotion bottle will enable all health care and allied health professionals the solution they need to provide the most cost effective, hygienic, and convenient access to products they use to help in the treatment of their clients/patients. This approach will be the service-dominate approach of marketing. This appliance supports our mission of providing and innovative electronic green solution. In addition, we will offer a warranty of the appliance to back our brand name recognition for producing a quality appliance. Our anticipated growth will be a 10% revenue increase over the next 2 years.
Price Objective Profit-oriented marketing is how we will establish our price objectives. Company G will offer through a beta test a very minimal charge to gain valuable knowledge about the product. Once we have updated features then we will start by offering contract rates that will create residual income. We will also sell independently to independent business owners. Over time we can measure our pricing structure and each business quarter discuss adaptations that need to be made to achieve profits. While addressing the anticipated revenue increase within 6 months we would like to see a stable 2.5%, 5% at 1 year, and 7.5% at 18 months and by year 2 the full 10% increase.
Place Objective
Company G will utilize a selective distribution for our motion sensor lotion bottle. As we can advertise in multiple catalogs as well as trade shows we can target the selective market that we are aiming for. Market research will be done to see what interest can be placed by making our target market aware of the new appliance. We can place strategically in various market groups to get word of mouth buzz started. We can measure this by orders places over the next 6 months to the year mark and see how they heard of our product.
Promotion Objective
The objective and task method of promotion is how we will determine how to promote this appliance.
As we study our placement and pricing we can better ascertain the level of promotion and where best to promote the motion sensor lotion bottle for maximum profits. We will start with a beta test market and gain feedback on the product to tweak any issues that arise. This will take place over the next 3 months so that we have time to modify the appliance if necessary. After, the initial 3 months, we will introduce the final product based on the feedback obtained. We will monitor our publications and sales based on the selective markets over the next 6 months to see where we need to focus to ramp up our presence. We expect to have 10% market response by 6 months post initial advertising. However, if this isn’t met, we will ramp up our market presence to internet placement as well as ramp up trade show appearances. After 1 year we would like to have 55% increase from catalogs and trade shows alone, with internet supplying an addition 30% to our distribution awareness.
Marketing
Strategies Company G has decided on various approaches to this marketing plan to ensure that we gain the most profit share in the service industry we are targeting. Our selective distribution will aid us in the promotion of our new appliance with the objectives and tasks that we have set forth to ensure maximum profits in an eco-friendly environment.
Product Strategies
Provide a green solution for allied health professionals that is convenient
Explain warranty for replacement or parts as needed by product flaws.
Demonstrate hygienic qualities with educational health support showing ease of use of new appliance.
Price Strategies
Status Quo pricing will be utilized while final product development is taking place with beta test being finalized over seek production cost plus 5% profit over production.
Price structures developed under contract for larger corporations or those that purchase in bulk to create consistent income
Independent owner/operators can purchase our product under contract, or for a onetime fee.
Place Strategies
Hospital and Allied Health catalogs for brand product awareness as well as in services to clinics
Websites for allied health professionals that can expand their ease of care, salons/spas.
Independent distributors that can have a reduced rate by servicing appliances they set up in clinics
Promotion Strategies
Trade Shows to advertise to our target markets
Advertising through sales promotions to specified markets
Public Relations and direct sales will be the next step to gain more market share by increasing our presence in the market.
Company G has the potential to be the leader of the best quality eco-friendly product distributor nationally. By isolating and completing these strategies, we will advance Company G’s alignment for exceptional growth. This mix of strategies integrate well with each aspect of the process and can support each other with interdisciplinary departmental teamwork.
Tactics and Action Plan The Action plan will be utilized to ensure that we are gaining market presence as well as adapting the product for the target groups identified. All plans will be finalized beginning at 3 months before launch and ongoing at various points through the initial launch. Incorporation of the legal team will be essential in ensuring out company’s best interest while preserving out brand recognition.
Product Action Plan
Tactic
Due Date
Responsible Party
Green convenient solution description
3 months prior release
Research and Development
Define Warranty parameters
3 month prior
Legal
Health hygienic education materials
1 months before launch
Research and Development
Price Action Plan
Tactic
Due Date
Responsible Party
Finalize production costs
2 months prior to launch
Accounting
Develop Group pricing/bulk
1 month prior to launch
Accounting; Legal
Independent pricing to be finalized
1 month prior to print ads
Accounting; Legal Place Action Plan
Tactic
Due Date
Responsible Party
Demonstrations/health fairs
Launch and ongoing
Sales
Website advertising
Launch and ongoing
IT; Public Relations
Specialty groups independents/trade shows/catalogs
Launch and ongoing
Sales
Promotion Action Plan
Tactic
Due Date
Responsible Party
Demos/trade fairs
Initial Launch
Sales
Brochures, sales ads
3 months prior and ongoing
Marketing/Advertising
All print, web, magazine, catalogs, television
1 month prior to Launch
IT, Sales, Marketing/Advertising, Legal
Monitoring Procedures We will monitor all strategies and process to ensure that we are meeting out guidelines or adapting new techniques if necessary to achieve market share. We want to promote the best our company has to offer and will do so as instructed in this plan. Monitoring will enable us a measurement for success.
Monitoring Activity
Due Date/Frequency
Responsible Party
Product awareness/feedback updates needed
Every 3 months
Product Manager
Pricing analysis
Monthly at beginning of month
Sales and Marketing
Distribution/market presence
Weekly, thru customer response of referral to product
Sales and Production team
Promotions/internet feeds
Weekly, monitoring feedback on product, consumer reports type sites
IT, Sale, Marketing
REFERENCES:
Tanner, J.F, Jr., Raymond, M.A., & McLean, S. (2011). Principles of marketing and business communication (Version
1.0.2). Irvington, NY: Flat World Knowledge.