Marketing Plan for Markstrat

1631 Words Apr 12th, 2013 7 Pages
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Executive Summary * -------------------------------------------------
As the marketing team for AY, we have developed an effective marketing strategy that has led to our current lead in stock market price and overall revenues. Our current phased strategy of capturing three market segments with three distinct products will extend our market dominance and provide long term stability through diversification. * -------------------------------------------------
In the initial phase, each of our Sonites are targeted to specific, growing groups in the market: SYGU to Singles and SYCA to High Earners. By focusing our advertising
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The R&D strategy for SYCA will occur in two year cycles to aggressively protect our market share and profitability while gradually decreasing suggested retail pricing from $535 to $510 over the next 5 periods. * -------------------------------------------------
SYGU’s initial product characteristics aligned with the estimated ideal characteristics of the Singles according to Period 1’s Semantic Scales Research. By focusing advertising towards Singles, cutting price, and emphasizing their desired traits, SYGU was able to increase its market share against stiff competition. Beginning in Period 3, a re-design of SYGU will be introduced. This re-design focuses on two characteristics: increased power to match Singles’ desired features and a reduced production cost which will allow us to increase our margins. R&D projects to improve SYGU will be conducted every two periods, meeting the changing demands of Singles and improving margins by retaining a static suggested retail price of $315 while decreasing production costs. * -------------------------------------------------
VYTL targets the emerging Vodite market with an evolutionary approach to segment targeting. The evolutionary approach targets targets R&D and marketing to Innovators in Period 3, Early Adopters in Period 5, and Followers in Period 7. VYTL’s strategy
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