Marketing plan for microwave oven.

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Information about Marketing plan for microwave oven.
Business

Published on May 4, 2014

Author: PujanSaha

Source: slideshare.net

Description

Full MARKETING PLAN for MICROWAVE OVEN.

Executive Summery Micron is entering the growing market of microwave ovens. All though in US, the sales of “microwaves“ have been declining as nine out of every four households now have an oven‘: it is still a growing market in many international markets as it is a tried and true technology and is greatly becoming one of the standard kitchen appliances. Micron is targeting this kitchen appliance market in South-East Asia. and also restaurants where microwaves have become a de- facto standard for heating foods- All though the market leader Samsung has an edge, we believe we can compete because the unique features of our product offering a more-for-less pricing. Microwave Oven. as a consumer product. does not have much exposure in the Bangladeshi market. In this country, most consumers tend to heat their food using gas stoves. Our objective is to make consumers shift from stoves to microwave ovens as a primary way to heat tools. We hope while fulfilling this objective. we will reach a 5% market share in the while achieving break-even by the year end. The following marketing plan includes strategy based on 4P‘s of marketing- product, pricing. promotion, and positioning. Focus has also been enforced upon advertisements and budgeting, since all companies do worry about financial limitations even if the companies ar firmly established. Microwave Oven. being a consumer product. is still in the growth stage in terms of usage and sales although the market is already flooded with Chinese products. Every brand, even the cheapest ones, knows what a customer desires and invests heavily on R&D to provide them with those necessities. Therefore it’s rather difficult to select an area to focus. for gaining competitive advantage- Some top brands, such as Samsung. Sanyo. etc, have already captured majority of the market and the rest are occupied by the cheap Chinese brands. In this situation. the new entrant possesses it’s own strengths in order to penetrate the market successfully: ‘financial strength’ to spend heavily on research and R&D to find the proper loopholes and ‘creativity’ to communicate the product designed for the customer through extensive promotion in order to capture the potential market and try to convince customers to shift to our product.

Table of Contents Executive Summery............................................................................................................... 1 1.0 Current Market Situation .......................................................Error! Bookmark not defined. 1.1 Market Description................................................................Error! Bookmark not defined. 1.2 SWOT Analysis.......................................................................Error! Bookmark not defined. 1.3 Competitive Review...............................................................Error! Bookmark not defined. 1.4 Product Review......................................................................Error! Bookmark not defined. 1.5 Distribution Review ...............................................................Error! Bookmark not defined. 2.0 Marketing Strategy ................................................................Error! Bookmark not defined. 2.1 Market segmentation ............................................................Error! Bookmark not defined. 2.2 Research and surveys.............................................................Error! Bookmark not defined. 2.3.1 Advertisement Costs...........................................................Error! Bookmark not defined. 2.3.2 The Cost of Running the Advertisements on Different Media............Error! Bookmark not defined. 2.3.3 Message .............................................................................Error! Bookmark not defined. 2.3.4 Media.................................................................................Error! Bookmark not defined. 2.3.5 Sales Promotion..................................................................Error! Bookmark not defined. 3.0 Measurement and Control .....................................................Error! Bookmark not defined. 4.0 Budgeting..............................................................................Error! Bookmark not defined. 4.1 Pricing Strategy......................................................................Error! Bookmark not defined. 5.0 Conclusion.............................................................................Error! Bookmark not defined. Download the Full Document From Here: http://studyassignment.blogspot.com/2014/05/term-paper-and- powerpoint-slide-for.html

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