Marketing Plan The Champion Juicer - 2358 Words

Introduction Company G is a successful leader in the electronics market. We will now take the initiative towards the growth of Company G by introducing a new line of small appliances. Specific focus will be on one particular product aptly named the Champion Juicer. The Champion Juicer is uniquely designed for the consumer as a high quality, durable product keeping in line with the electronics division. Company G is highly revered in the industry and we will continue on this path with our Champion Juicer. Consumer reviews note deficiencies in our competitor products. With our unique design these concerns have been eliminated. Additionally, we include four color schemes to compliment the consumers existing surroundings adding to the†¦show more content†¦Our production process is efficient and cost of production will decrease as the demand for the juicer increases. This allows for financial gain in the long term. The threat faced with new entrants is the branding. Consumer base knows us as producer of electronics and with inclusion of a new product line, the need for initial heavy marketing will be required. Threat from Buyers With the credibility of the electronics division, we already have a good standing in the consumers’ minds. Substitution of the juicer is always a threat and the marketing methods such as branding will bring consumer loyalty and alleviate the threat. The threat from the buyer is weak. Threat from suppliers There is no real threat from suppliers. The similarities of our product, to extract juice, are the only similarity. We have many suppliers to choose from and we will increase our supplier lines to accommodate the market. Threat from Substitutes The threat we face will be the incentives for consumers by the competitors. Our initial marketing will include various incentives for the consumer and strengthen our place in the market. We have a product that will surpass that of the competitors as we have addressed the concerns heard from the consumers who were not happy with certain features such as leakage and inability to extract all juices. We have eliminated those very concerns with our design opening