Wgu Vzt1 Marketing Plan

3549 Words Jan 9th, 2016 15 Pages
Company G
1-Year Marketing Plan - MediMinder
Student Name: Christin S

Table of Contents

Introduction 3
Product Description and Classification 3
Company G Mission Statement 3
Consumer Product Classification 3
Target Market 4
Competitive Situation Analysis 4
Analysis of Competition using Porter’s Five Forces Model 4
SWOT Analysis 5
Strengths 6
Weaknesses 6
Opportunities 7
Threats 7
Market Objectives 8
Product Objective 8
Price Objective 8
Place Objective 8
Promotion Objective 8
Marketing Strategies and Implementation 8
Product Strategies 8
Price Strategies 9
Place Strategies 9
Promotion Strategies 9
Marketing Implementation 10
Product Action Plan 10
Price Action Plan 10
Place Action Plan 11
Promotion Action
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The MediMinder also comes with a complimentary app that can be used with any hand held device that will alert family members when medication has not been taken when scheduled promoting peace of mind. The app will also send refill alerts and allows the dispenser to be unlocked remotely in the event the key is misplaced. The MediMinder contains a vast number of different programmable options so that medications can be dispensed at multiple times per day if needed, which is an option unavailable with any other competitor’s unit. It is also designed to be space-saving in size while offering a wide variety of decorative options to compliment any setting. The MediMinder supports company G’s mission statement beautifully by improving the life of its customers through electronic innovation, cost effectiveness and convenience.
Consumer Product Classification
The MediMinder would be classified as a shopping product based on the market research that has been done. Given the importance of reliability for a medication dispenser, Company G’s brand awareness and reputation is very important. Our customers look to us to provide high quality, innovative electronic appliances so our company image will be essential for creating consumer confidence. This product will retail between $25 - $50 so it is important to sell the unit in a convenient retail locations such as pharmacies and cost saving department stores like Walmart. From a consumer standpoint, considerable

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