Company G 3 Year Marketing Plan Essay

XG Wi-Fi entry for mobile contrivances.IntroductionWith two decades of innovative and award winning design, confederation G has gr fork over birth to be a mart leader in consumer electronics. The federation enjoys unpar onlyeled station recognition and is highly rated and trusted by consumers worldwide. corporation Gs carrefours atomic number 18 known for their original design, military power and use of innovative engineering. confederation Gs brands enjoy both(prenominal) high consumer desirability and high consumer loyalty. With a reputation as a trend setter, m both of conjunction Gs mobile electronic harvest-festivals ar sought- after(prenominal)wards as Status Symbols buys. Some of the political partys harvest-times benefit from a cult like following among early adopters and some(prenominal) serve as industry bench-marks against similar outputs. With the introduction of the XG Wi-Fi portal, the Company plans to broaden to strive to be the premier to merchandise in the consumer electronic grocery store segments that it enjoys competing in. The Company testament besides maintain the practice of extending ingatherings life cycles and promoting their market positions by offering novel peripheral wares such(prenominal) as the XG Wi-Fi gateway timed to support and broaden the market interest and appeal associated with an another(prenominal)(prenominal) existing XG products.Mission StatementWe combine beautiful design and nonrational functionally to provide consumers with desirable products that enhance the quality and convenience of their lives.The crossroadThe new XG Wi-Fi approach for mobile devices allows consumers to soft manage which Wi-Fi enabled mobile device can assess their pay backd office Wi-Fi net. The XG Wi-Fi entre is a peripheral product of the Companys popular XG Wireless Router series. The XG Wi-Fi accession is industry submissive with join America and Euro Z iodin wireless communication standards and is matched with other manufacturers routers. The XG Wi-Fi doorway for mobile devices allows a consumer to manage their secure home Wi-Fi intercommunicate through any other device designated as the Administrator. When a new Wi-Fi enabled device attempts to access the home Wi-Fi net elaborate through the XG Wi-Fi penetration, an alert message is sent to the administrator. The administrator can discern s eeral pre-set network access options as well as use up from their own custom rules allowing or limiting network access to special(prenominal) devices. The XG Wi-Fi gateway for mobile devices is a 3 inch by 3 inch by 1/3 inch pad that colligate to the home router via a 2.0 USB political hack.The XG Wi-Fi opening for mobile devices can withal bear on directly to any router with the additive purchase of a USB to Ethernet converter cable. The XG Wi-Fi admission for mobile devices has a minimal footprint. Once connected, the consumer does not make water to act with or manipulate the devices and it can be hidden or situated out of the way behind a computer or router. The administrator interacts with the XG Wi-Fi door for mobile devices through the Wi-Fi Gateway application. The package is provided and harmonious with screen background and laptop computers dribblening Windows, OS X and Chrome operating systems. A free Wi-Fi Gateway application can also be downloaded, installed and run on gifted phones and tablets using iOS, Android and Windows Mobile. The XG Wi-Fi Gateway for mobile devices is also compatible with the Xbox360 and PS3 gaming consoles.Consumer overlap ClassificationThe consumer product classification for the XG Wi-Fi Gateway for mobile devices falls under a shopping product. Additionally it should be considered with a sub-classification of unsought products. The XG Wi-Fi Gateway extends the functionality and security of modern router, thus the separate, pre-purchase of a router is contractd. Consumers father ample informat ion gettable to make decisions regarding purchase decisions for routers however, they birth limited knowledge of the XG Wi-Fi Gateway peripheral or add-on. Consumers pass on require education and persuasion during the buying process. This is seen as a unique product, currently, at that place are no other devices or reservations that offer the functionality of the XG Wi-Fi Gateway.Target grocery storeMajority of our consumers leave alone be males, head of household age 25-54, in a home with a wireless router. The household has quintuple computers, smart phones or tablets. Our consumer expresses interest in electronic gadgets and considers themselves to be a tech savvy buyer. The level consumer is conscious about on credit line security threats and has purchased or upgraded anti-virus software in the last 24 months. Our shopper is engaged with online social networks and media with most countersign delivered to the household digitally. Purchases of electronic products are hea vily influenced by the favorable opinions and reviews from friends and colleagues. They are also strongly influenced by negative reviews of products by tech blogs and consumer comments in social media. Household income of our target consumer is $32,000- $70,000 annually with at least one child living in the home.Analysis of Competitive Environment curse of new competitionThe threat of new competition is high. Our belief is the technologies associated with the XG Wi-Fi Gateway could be ingeminated by any of the other leading(p) manufacturers of wireless routers. Company G hold proprietorship technology in the design of the XG Wi-Fi Gateway and will fight to protect its interests and rights, however other manufactures could adopt their own existing patents and processes to compete. We feel these other established brands with distribution channels could impart a competitive touchry if they strike to enter this market.Threat of substitute products or runThe threat of a substitute product is low. Consumers repair if they have a need for the features offered by the XG Wi-Fi Gateway or they choose to forgo those features and service. The XG Wi-Fi Gateway has a high level of product differentiation. Consumers attempting to replicate the serve of the XG Wi-Fi Gateway will find it technologically challenging and be prohibitive to duplicate.Bargaining power of consumersConsumers have moderate bargaining power. The XG Wi-Fi Gateway is a discretionary purchase. The consumer has to desire the enhanced insure of their home Wi-Fi network and or the additional security offered by the product. Buyers who have suffered a expiry from a network dishonour will be less worth sensitive than those only looking to enhance their level of control. We expect down hurt pressure due to demand to bundle and discount the XG Wi-Fi Gateway with other XG routers.Bargaining power of suppliersThreats from suppliers are low. While our product is new, most of the individual components are already mass produced or can easily be produced on existing manufacturing lines requiring only minimal retooling. Key proprietary components can be produced by several of Company Gs subsidiaries. Suppliers and materials are plentiful and available globally.Intensity of competitive rivalry contest is low. Currently there are no competing products for the XG Wi-Fi Gateway market. Company G enjoys significant brand recognition and brand loyalty. The XG lines also profits from a history of positive consumer reviews and ratings and benefits from higher perceived prize when compared to similar products in the market. Outlays are kept low by utilizing existing manufacturing facilities and distribution channels. Costs, such as R&D, selling, engineering and packaging design are allocated and dual-lane across the whole XG catalog of products.SWOT AnalysisStrengths1.Company G and the XG tell on have high consumer loyalty and are recognized for innovative product design and functionali ty. 2.The XG Wi-Fi Gateway is the first of a flesh to market. 3.The XG Wi-Fi Gateway certain positive reviews from influential tech blogs and media. championship1.Company G has carefully nurtured and beef up its company brands. Company G has invested a considerable amount of resources promoting and institutecasing the motley products in the XG line. XG branded products benefit for the loyalty and familiarity consumers have with the existing line thus helping to lower overall new consumer acquisitions costs. We consider this strength to be a lens nucleus competency.2.As a first of a kind to market, Company G can maintain a higher price point by controlling the amount of products available without fear of wooly-minded of market share to competition. Company G can operate as a monopoly until others enter the market. First to the market also helps reinforce the XG brands reputation as a leader in providing peachy edge technology to consumers. We consider this strength to be a co re competency.3.Our target market reads and is influenced by tech blog reviews. Tech blog reviews are a valuable cost neutral resource for change magnitude product awareness and help raise consumer sentiment and increase product differentiation. Weaknesses1.The XG Wi-Fi Gateway is a secondary purchase or upgrade after the initial purchase of a router. 2.Low target consumer awareness of product. 3.Target consumer requires amend in advance purchase.Support1.Consumers are resistant to making an additional secondary purchase after deciding to buy a router. Consumers perform the enhanced services the XG Wi-Fi Gateway offers are not essential to a secure home network and may postpone a purchase until a demo need is established.2.As a first of a kind to market, consumers are not aware of the product. The target market is highly sought after and on a regular basis bombarded with sophisticated merchandise campaigns. The XG Wi-Fi Gateway is a peripheral product and does not command the spotlight associated with a flagship product launch.3.Our target consumer will do research former to making a purchase. Company G will have to put forth assessable information through binary media outlets for the consumer to find and review. Additionally, sales persons and other trusted sources will need to be divulged to specifications and features of the XG Wi-Fi Gateway to be credible and persuasive.Opportunities1.The XG Wi-Fi Gateway can be veritable for commercial and retail use. 2.Integration into other manufactures routers through licensing agreements. 3.Add versatility with the incorporation with NFC (near field communication) chips.Support1.The technology in the XG Wi-Fi Gateway could be upgraded to provide a dissolver in commercial spaces (coffee shops, restaurants stores) that want to control, monitor or monetize their Wi-Fi bandwidth service. This would embroider the XG line into a new market.2.Company G could increase revenues by licensing the XG Wi-Fi Gateway te chnology to other router manufactures. By providing completive licensing agreements, it reduces the incentive of the competition from developing rival technology.3.Near field communication (NFC) chips are an emerging technology with potential to cut out retail checkout/payment process. The inclusion of NFC could help broaden the market for the XG Wi-Fi Gateway as the technology becomes more widely available in the retail industry.Threats1.Shifts in technology away from Wi-Fi protocols and services. 2.A low cost contender enters and disrupts the market. 3.A widespread security breach or software spot could be catastrophic for the product.Support1.The pace of change and innovations in technology is ever quickening. Consumer sentiment tends to move towards the newest standard. Wi-Fi technology is well established, reliable and widely taken for granted, it is the old guard. Some modern countries have already shifted away from Wi-Fi services in favor of cellular protocols or Super Wi -Fi, which functions in the TVWS bandwidth. either shift away from the Wi-Fi protocol would require retooling of the XG Wi-Fi Gateway with new technology which may be prohibitive due to IP rights or growing costs.2.If a low cost competitor enters the market, Company G would have to spend additional marketing resources defending its market share. Company G would also have to engage in completive determine to maintain its market position. Lower pricing and increased marketing efforts will have a negative impact on the XG Wi-Fi Gateways profits.3.A security breach could permanently tarnish the XG Wi-Fi Gateways reputation. A major flaw or breach could kill the products viability in expert a few old age. Any breach would be an embarrassment to Company G, could result in lower share prices and expose the company to additional liabilities and lawsuits. market ObjectivesProduct ObjectiveProvide our target consumer with an innovated and desirable product that is friendly and enhances th eir online activities with ease of use, technological compatibility and upgradeability resulting in annual sales of 1.5 meg units in the first family, 3 million by the second social class and 5 million by the third. Price ObjectivePricing for a stand along XG Wi-Fi Gateway will start at $34.99. Company G will also offer up to a 20% savings premium when retailers order, bundle and promote the XG Wi-Fi Gateway with other XG products. home plate ObjectiveThe XG Wi-Fi Gateway will go for existing Company G online and retail distribution channels throughout North America and Europe. Additionally, the XG Wi-Fi Gateway will be carried and offered by the 3 leading cable companies in North America when selling optional residential broadband internet services. ampere-second days post launch, Company G will also introduce the XG Wi-Fi Gateway into AT&T and T-Mobile retail stores and kiosks in North America along with Vodafone retail outlets in the UK and Movistar retail outlets in Spain. Company G will continue to utilize its proprietary predictive algorithms to match global product availability.Promotion ObjectiveWe expect to increase our target consumer awareness of the XG Wi-Fi Gateway by 25% in the first sixer months and by 33% by each year post launch. ancestral the attentions of our target consume and demonstrating the XG Wi-Fi Gateways unique features will be critical to the products success. Company G will supplement its name recognition, reputation and media relationships along with its vast distribution channels to determine the target consumer has ample opportunities to learn about and interact with the XG Wi-Fi Gateway preceding to purchase. These trade Objectives are crafted to provide the optimal return for all of Company Gs stakeholders.Marketing StrategiesProduct StrategiesCompatibilityThe XG Wi-Fi Gateway is compatible with all major router equipment sold in North America and Europe. Our target consumer will be assured that The XG Wi-Fi Gatewa y will work will even previously purchased equipment regardless of the manufacture.Friendly, Ease of UseThe XG Wi-Fi Gateway is a plug and forget it device. The software is multi-operating system compatible. The exploiter interface has been extensively reviewed and focuses meeting tested to meet an appropriate and intuitive workflow.Longevity, DurabilityThe XG Wi-Fi Gateway computer hardware has no moving parts and is incased in a unchangeable vinyl covering. The hardware has a life expectancy, with normal use, of 5 to 8 years. Software upgrades are pushed to the device as needed, no interaction is needful from the consumer. Given current trends in Wi-Fi technology, Company G expects the software to be compliant with FCC and EU regulators for 10 or more years.Price Strategies paring mouldCompany G will use Skimming Model for the first 100 days. Leading up to The XG Wi-Fi Gateways launch, marketing efforts will target the less price sensitive early adopters voice of our consum er congregation.High-low PricingHigh-low pricing will be utilized for the XG Wi-Fi Gateway after 100 days post launch. fussy offers will be presented through online and traditional retailers when they bundle other Company G products with the purchase of a The XG Wi-Fi Gateway. Company G will also offer a rabbet program in secondary markets coinciding with back to school activities.psychological PricingPsychological pricing will be utilise to have an encouraging psychological influence on our target consumer. The consumer is well educated and well connected and knows what his peers have paid for other similar products. This pricing model will ensure he feels satisfied with the decision leading up to his purchase and comfortable sharing that information with his peer group. stupefy systemStrategic Channel AlliancesCompany G will utilize strategic channel alliances to get the XG Wi-Fi Gateway in to areas where our target consumers live, work and play. We are partnering with recogn ized industry leaders to cross promote their compatible products with the XG Wi-Fi Gateway. This dodging allows consumers to see how the product works with other devices and gives them the hazard to realize an immediate benefit of ownership.Intensive Distribution ModelCompany G will also unitize an intensive distribution model. We will increase our current distribution network to deliver the XG Wi-Fi Gateway to all available channels our target consumer may wish to utilize to make a purchase.Pull StrategySince our consumer desires product specifications in order to make a purchasing decision, Company G will take that teaching luck and convert it in to a desire to, at a minimum, interact with the physical product. We will run a campaign to persuade consumers to give it a try yourself at your local electronics retailer. This pull scheme should help Company G entice retailers to provide the XG Wi-Fi Gateway a more prominent position in their outlets as consumers ask to interact wit h the device.Promotion Strategies divvy up ShowsTrade Shows are an important and ideal side to introduce the XG Wi-Fi Gateway to our target consumer. He regularly attends trade shows and very much shares part of his experience on social media. If our consumer does not attend a show, he often seeks out opinions or stories from friends that have attended. The trade show environment allows us to craft the best possible informational and presentation opportunity outside of the consumers own home. This strategy is important because our consumer tends to make multiple electronics purchase in spite of appearance three months after attending a Consumer Electronics Show.Product PlacementsSeeing the XG Wi-Fi Gateway in use is important to our target consumer. We are identifying their popular movies, television and web series and negotiating subtle lieu of the XG Wi-Fi Gateway in to the main storys setting. Company G used this strategy successfully for several of its mobile products. The o verall return for this strategy was better than that of a 30 second commercial buy on a similar type show. Our consumer pays attention to their favorite show and interprets the commercials as interruptions.Trade AllowancesCompany G will provide advertising and furtherance allowances in targeted markets. Trade allowances will be based on a matrix consisting of ratings for the importance of market, the retailers foot traffic, sales raft and ad placement and media buy. Retailers can determine how to use the allowance within the terms and conditions of the trade allowance agreement. This strategy demonstrates that Company G value the retailers understanding of how to capitalize on the unique marketing challenges in their local market.Tactics and consummation PlanProduct Action PlanCompatibilityoTactic Test and adjust all XG Wi-Fi Gateway components to ensure the last(a) unit meets all FCC and EU regulations. Test and rate for compatibility against all targeted compatible products. M ake adjustments and updates when identified. oDue assure 6 months before launch wherefore current every 6 months throughout the products life cycle. oResponsible caller A aggroup up made-up of members for the software development group, components and hardware group, competitor intelligence group and the product management police squad.Friendly, Ease of UseoTactic Ensure the XG Wi-Fi Gateway is user friendly and offers an intuitive user interface. oDue Date 9 month forrad of launch. Review will also be conducted before the release of any update that may impact the user interface. oResponsible Party A police squad made up of members from market research, software development, unrestricted relations and the product management team.Longevity, DurabilityoTactic Only high quality components from Company G selected suppliers will be utilized in the manufacturing of the XG Wi-Fi Gateway. All parts are randomly selected for quality assurance and destructive testing throughout the prevarication cycle. oDue Date Continuous once components arrive for assembly.oResponsible Party Quality control team as well as independent 3rd party auditors.Price Action PlanSkimming ModeloTactic Capitalize and maximize revenue on consumer interest and desire to own a not bad(p) edge product. oDue Date Initial pricing to be finalized 90 days prior to launch and monitored for the first 100 days post launch oResponsible Party Financial analysts, accounting, channel scrape managers and product management.High-low PricingoTactic To maximize the revenue opportunities by providing incentives for retailers and consumers by making special offers by roll up Company G products or offering appropriate rebates. oDue Date Special pricing, bundling offers and rebate programs will be finalized at launch hence reviewed every 3 months. oResponsible Party Marketing managers, financial analysts, channel marking managers and product managers.Psychological PricingoTactic Ensure our target consum er is persuaded that the perceived value is greater than actual retail price. oDue Date 90 days prior to launch then every 3 months. oResponsible Party Marketing managers, public relations team, consumer research team, independent 3rd party consumer survey teamPlace Action PlanStrategic Channel AlliancesoTactic Partner with non-retail partners to introduce the XG Wi-Fi Gateway in unique and impactful locations and situations to our target consumer. oDue Date 1 year prior to launch then every 3 months.oResponsible Party Marketing team, channel marking managers and product managers.Intensive Distribution ModeloTactic We will engage all of our distribution and retail partners throughout the entire product cycle. oDue Date 1 year prior to launch then continuous. oResponsible Party channel marking managers and distribution management teamPull StrategyoTactic Entice consumers to ask their local retailers about the XG Wi-Fi Gateway oDue Date90 days prior to launch then continuously for the first 100 days oResponsible Party Marketing team and public relations teamPromotion Action PlanTrade ShowsoTactic Secure prominent pedestal space at CESs and Home Shows in major and secondary markets oDue Date1 Year prior to product launch oResponsible Party Marketing team, product management teamProduct PlacementsoTactic Identify and secure placement opportunities on targeted media outlets/shows oDue Date 9 months before launch and through the first year oResponsible Party Marketing team and media relations teamTrade AllowancesoTactic Provide strategic retailers marketing and promotional resources to increase awareness of the XG Wi-Fi Gateway in the local markets they serve. oDue Date 3 months prior to launch then ongoing.oResponsible Party Marketing team and channel marking managersMonitoring ProceduresTo ensure the Product and Marketing Teams meet the XG Wi-Fi Gateway meets Company Gs financial performance goals Monitoring Activity Regular review of ongoing product performance and benchmarking. Due Date/Frequency Weekly meetings.