MarkStrat
Executive Summary
The Sonite industry is a fast growing marketplace that caters for multiple customer segments. In particular Shoppers and Savers are likely to have the fastest growth which is why within our action plans and budgets we have allowed for the likely introduction of a Sonite product to cater for Shoppers.
With an untapped Vodite market this offers itself as a lucrative opportunity which is why we aim to be the first movers into this market which will hopefully provide us with a strong competitive advantage and a high market share. The aim is to provide a high end Vodite to cater to the feature preferences of both Innovators and Adapters segment.
The financial stability of this company is dependent on the sales performance of both types of products which will allow us to do further R&D in order to improve product quality in line with target segment preferences.
The final aim is to reach an excess of $120,000,000 by period 5 with a total market share of 40% in the Sonite market. This is a very likely aim as we have the strategy and the current performance to allow for this to occur. In regards to the Vodite market it is hard to speculate on the overall success as it is unknown what competitors will do in the future but we aim to have a market share of above 25%.
Introduction
T is an innovative company focusing on providing high quality consumer electronic products to the various customer segments. Managing our distribution channels and commercial team we are able to reach our customers with competitive prices and outstanding features.
This marketing plan will include both an internal and external analysis in order to fully understand our environment. The analysis will be accompanied by elements such as goals/objectives, action plans and budgeting controls which will allow us to make competent marketing decisions. This is mainly relating to the upcoming periods but can extend up to period 5 which will give us an accelerated view of this industry.
The Sonite industry is a fast growing marketplace that caters for multiple customer segments. In particular Shoppers and Savers are likely to have the fastest growth which is why within our action plans and budgets we have allowed for the likely introduction of a Sonite product to cater for Shoppers.
With an untapped Vodite market this offers itself as a lucrative opportunity which is why we aim to be the first movers into this market which will hopefully provide us with a strong competitive advantage and a high market share. The aim is to provide a high end Vodite to cater to the feature preferences of both Innovators and Adapters segment.
The financial stability of this company is dependent on the sales performance of both types of products which will allow us to do further R&D in order to improve product quality in line with target segment preferences.
The final aim is to reach an excess of $120,000,000 by period 5 with a total market share of 40% in the Sonite market. This is a very likely aim as we have the strategy and the current performance to allow for this to occur. In regards to the Vodite market it is hard to speculate on the overall success as it is unknown what competitors will do in the future but we aim to have a market share of above 25%.
Introduction
T is an innovative company focusing on providing high quality consumer electronic products to the various customer segments. Managing our distribution channels and commercial team we are able to reach our customers with competitive prices and outstanding features.
This marketing plan will include both an internal and external analysis in order to fully understand our environment. The analysis will be accompanied by elements such as goals/objectives, action plans and budgeting controls which will allow us to make competent marketing decisions. This is mainly relating to the upcoming periods but can extend up to period 5 which will give us an accelerated view of this industry.