Marketing and Product Essay

go with G, a company with a terrific history, stirs high theatrical role small appliances. Company Gs reputation speaks for itself, having earned the championship of unmatched of the most Reputable companies today. N Company G is act this by introducing our wise appliance called G camera X.Mission logical argumentWe enable consumers to rectify the quality and convenience of their lives by providing innovative electronics solutions.The outputAs stated earlier, Company Gs growths enable consumers to improve the quality and convenience of their lives by providing innovative electric solutions.Company G has introduced a spick-and-span notion geargond towards enhancing consumers enjoyment of victimization digital cameras. Company Gs new concept add together ease and reliability to the ein truthday use of crossroad.Company Gs new digital camera, called G photographic camera X volition romp awesome new additions which allow include a hip new mold design and material, whic h forget enhance the appearance and excessively the intervention of product. The new mold design will leave the camera close to break proof and water proof, which in termination improves quality.The new concept of solar power will be introduced in this product also. No longer will in that respect be a need for batteries, which will enhance the convenience of this head.Consumer Product ClassificationThe image of the product is very important. Our product must convey quality and convenience the consumer desire. Convincing the client to buy is a must therefore, we will be promoting the device heavily. price will be above average because of the advanced quality of degree. This product will not be obtaind by the consumer on a day-to-day basis therefore, the customer will put thought into the purchase of this item .This product will be available at the major(ip)ity of major retailers, which include Wal-Mart, Targets, and Best Buy, also the camera will can be purchased directly t hrough the companys website. Many things were factored when deciding how to bar this product.After careful consideration, G camera X consumer classification will be shopping.Target Market1.People with income level above 30,000. Income level will jockstrap identify people with the financial ability to purchase this item, since it is on the higher end of price range. 2. Geared toward any education level. Camera is relatively simple to use, therefore majority of the population will be able to use. 3. Geared toward family oriented individuals. People with children will be rejoicing in this product because parents enjoy taking pictures of kids and would like the avail of having a break proof, waterproof, solar powered cameraCompetitive Situation abstractAnalysis of Competition using Porters 5 Forces idealThe task instruction is Analyze Company Gs private-enterprise(a) environment utilizing Porters Five Forces Model of competitive forces. darn headings below may provide some guidan ce for how to organize the paper, entertain refer to the recommended text (index topic Porters 5 forces instance), the learning community, and recommended web sites. As you will see from the reading, Porters 5-forces is a focusing to examine threats to a companys supremacy which was competition imposes.Competitive Rivalry The competitive environment may be fierce. Several threats exist. Company G is a well-established and respected company. Although this is a factor, contender companies eager to capitalize exist. Companies will make product closely resembling Company Gs and may offer at a demoralise price or with more incentives. Market growth will not be slow and low fixed cost to produce item will decrease rivalry. Since customers somewhat easily and freely switch from one product to other, this will increase rivalry. There are quite a few rivals in the same market.Threat from New Entrants Threats to company G victory are possible. New companies may enter the market, loo king to overhear advantage of producing a product to challenge Company Gs product. They may have access to lower cost distribution, which in term may offer their product at a lower cost. inaugural is not that expensive, which may encourage new entrants.Threat from Buyers There could be a possible threat to Company Gs success from the buyers, depending on how they react to the new product. Buyers may not embrace the applied science . some may not feel comfortable with the new product or the pricing of item. Buyer volume may at time be slow. Also, consumers may be a little hesitant with purchase because this product is a little pricier than the easement product that may accommodate available.The threat is not that significant because consumers are always looking for new and innovative products on the market. People desiring new product, will out way people hesitant to buy.Threat from Suppliers threats from suppliers does exist. Suppliers may increase the price of gross materia l to get some extra profit. Suppliers who produce parts that are not easily gotten from other suppliers will be the ones to take advantage of this. These companies, having the knowledge that Company G will have issues finding another supplier to produce the same part will raise there price for these goods. This risk is not that significant, since most of the parts used to produce product are easily manufactured by suppliers which will help eliminate this risk.Threat from Substitutes there is a significant threat of companies producing substitute product. Companies will try to compete by producing items similar to Company Gs. This threat is very significant due to the fact that many companies deprivation to make a profit out of new ideas and technologies. Companies may also offer substitutes at a cheaper price.