Company G
1-Year Marketing Plan - MediMinder
Student Name: Christin S
Table of Contents
Introduction 3
Product Description and Classification 3
Company G Mission Statement 3
Consumer Product Classification 3
Target Market 4
Competitive Situation Analysis 4
Analysis of Competition using Porter’s Five Forces Model 4
SWOT Analysis 5
Strengths 6
Weaknesses 6
Opportunities 7
Threats 7
Market Objectives 8
Product Objective 8
Price Objective 8
Place Objective 8
Promotion Objective 8
Marketing Strategies and Implementation 8
Product Strategies 8
Price Strategies 9
Place Strategies 9
Promotion Strategies 9
Marketing Implementation 10
Product Action Plan 10
Price Action Plan 10
Place Action Plan 11
Promotion Action…show more content… Target Market
The target market for the MediMinder unit will be male and female elderly consumers, ages 55 – 65 of all ethnic backgrounds as well as educated professionals, $45,000 + annual income, and family-oriented. The elderly consumer will be concerned about maintaining their health and tend to be very budget conscious as they are on a fixed income. Their family members will be of average to higher income and concerned about the wellbeing of their aging friends and/or family members. “Baby-boomers” caring for aging parents will be a high focus market as well. They wish to promote independent living; however they want to have an added measure of peace of mind since they will not be present to monitor medication refills or dose reminders first hand. Growing older and worrying about healthcare affects everyone and is always of concern so there are no limits geographically for the sale of the MediMinder. The benefits it offers are not fixed on one specific location which makes it highly marketable for our targeted consumers.
Competitive Situation Analysis
Analysis of Competition using Porter’s Five Forces Model
The following analysis of Porter’s Five Forces Model will assist in identifying threats that may be present both now and in the future. This will also help to reveal opportunities and assist in decision making with regard to this marketing plan.
Competitive Rivalry: As of research conducted at
