Marketing Plan for Company G Research Paper Example | Topics and Well Written Essays - 2500 words

Marketing Plan for Company G - Research Paper Example This discussion stresses that consumers with comparatively higher income level are likely to purchase electronic appliances as they want to make their life more convenient, and they are ready to part with their money for that. Individual with higher income level are inclined towards trying new commodities and thus would be a prime source of company’s initial revenue from the newly launched product line. In addition to the income level, geography is another important factor. The company should focus its marketing activities in mostly the urban areas as compared to the rural. There are several other different bases for identification of the target market. It must be kept into consideration that one segmentation variable must be superior to another in the hierarchy of variables. Other variables for identification of target market would be age, gender, occupation, education, social class, buyer behavior and lifestyle. This paper declares that the product of the company can be divided into three categories namely convenience goods, shopping goods and specialty goods. Following is the classification of the products offered by the company. The marketing objective if the company G would be to create awareness in the market about the newly launch product line. The company would have to organize various promotion and advertising activities in order to provide adequate exposure to the new product. Price Marketing objective related to the price would be to promote the product based on the criteria that the prices have been set for customers belonging to different income level. The strategy will assist the company in increasing its customer base as it would increase the target market when people from different income classes are indulged in the buying of the company’s products. Place Since the company has established a sound consumer base of franchises in its target market, the