Michelle Dietrich Company`s Marketing Plan

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MichelleDietrich Company’s Marketing Plan

StudentsName

Institution’sName

MichelleDietrich Company’s Marketing Plan

CompanyAnalysis

Thecompany upon designing a current product with preferred qualities bythe customers should focus on penetrating the market, getting thepotential customers and maintaining their loyalty to the product. Thecompany has the strength of having some of the greatest technologieson the mobile phones but still, faces competition from other foreigncompanies.

CustomerAnalysis

CustomerAnalysis is crucial for any growing company. The company focus onattaining 60 percent of the market share most targeting themiddle-class clients who have the purchasing power of the mobiledesign. Most of the customers are of the digital era hencesmartphones shall be their choice with several internet applications(Hollensen, 2015)

CompetitorAnalysis

Thecompany faces competition from both local and foreign competitorswith products of high quality. Their weakness is the lack of advancedapplications in their devices. The company needs to avoid designapplications counterfeited by its competitors. It should focus onregistering new designs, patenting them and enjoying dominance for alonger period.

Macro-EnvironmentalPEST Analysis

Thecompany is in its home country and therefore benefits from politicalgoodwill by supporting the country’s economic growth. Socialapplications in the device shall facilitate penetration into themarket with the high technology of the phone maintaining customerloyalty (Opbeba ,2016).

SWOTAnalysis

Thecompany’s strengths, weaknesses, opportunities, and threats need tobe analyzed and turned to benefit the company. The company shouldfocus on revisiting the threats posed by its competitors, itsweaknesses and employ appropriate ways to counteract the effects ofsuch.

MarketingStrategies

Price

Thecompany should consider the use of odd pricing strategy where allprices have an odd number factor such as $999 or $109 with discountsallowed at 10 percent for all purchases during festive seasons,holidays or promotion periods. The benefit of this pricing method isthat customers will be attracted by the psychological pricingassociated with odd pricing strategy.

Distribution

RegionalDistribution is one key method of boosting market penetration. Thecompany should consider opening several outlets in major cities andtowns which should continually be stocked at optimal levels andmonitored from company’s central distribution center.

References

Hollensen,S. (2015). Marketing Management: A Relationship Approach. PearsonEducation.

Opbeba,H. (2016). Organizing marketing research on the hi-tech productmarket. Politechnical Student Journal, (3).http://dx.doi.org/10.18698/2541-8009-2016-3-20