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Allison Buehler
Haworth
MKT 3300.HON
18 April 2017
Marketing Plan Assignment
TABLE OF
CONTENTS
OVERVIEW ................................................................. 1
DESCRIPTION OF PRODUCT........................................ 9
Marketing Objectives
After completing this marketing plan, the marketing objectives
regarding a new retractable charging cable are as follows:
Environmental Scan
An environmental scan involves continually acquiring information on
events to identify and interpret potential trends. An environmental
scan, also known as a CREST analysis, observes competitive,
regulatory, economic, social, and technological forces.
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products or services. Consumer expectations about the economy
greatly affect the environmental scan because consumers spend their
income based on how they expect the future economy to unfold.
However, since the retractable charging cable is a relatively
inexpensive product, based on which company a consumer buys it
from, these economic forces should have a relatively low impact on the
market for this product.
3
Based on this environmental scan on a retractable cell phone charging
cable, I would recommend that a company that is interested in
manufacturing this product to focus mainly on making it stand out
among other companies’ cables. This market would appear to be
extremely competitive, so if the company’s retractable charging cable
is known among consumers to be of high quality at a reduced price, it
will thrive in this market.
4
When I discussed this product with my two friends, they both agreed
that it seems like an interesting product, but they did not see
themselves purchasing one in the near future. They said that the part
of the product that would make the cable retractable would be too
bulky, making the product not as efficient as it first set out to be.
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1. What cell phone do you have? (responses: iPhone, Samsung,
other)
2. How often do you find yourself charging your phone in a typical
day? (responses: always, often, sometimes, rarely, never)
3. Do you prefer using shorter charging cables or longer charging
cables? (responses: shorter, longer, no preference)
4. How interested would you be in a retractable charging cable for
your cell phone, allowing you to have either a shorter cable or a
longer cable? (responses: extremely interested, very interested,
moderately interested, slightly interested, not interested at all)
5. How much would you be willing to pay for a retractable charging
cable? (responses: under $10, $10, $20, $30, over $30)
iPhone
74%
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HOW OFTEN DO YOU FIND
YOURSELF CHARGING YOUR
PHONE IN A TYPICAL DAY?
Never
11%
Always
30%
Rarely
20%
Sometimes
Often 15%
24%
Longer
67%
7
HOW INTERESTED WOULD
YOU BE IN A RETRACTABLE
CHARGING CABLE FOR YOUR
CELL PHONE? Not
Extremely interested
interested at all
13% 4%
Slightly
interested
9%
Moderately
Very interested
interested 13%
61%
$10
35%
$20
33%
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focus primarily on producing a retractable charging cable for the
iPhone before the Samsung.
Description of Product
The retractable charging cable that I’m designing provides the
consumer with the flexibility to choose between either a shorter cable
or a longer cable while remaining as compact as possible in order to
reduce the inefficiency of carrying a bulky product. The cable itself will
be sturdy and able to withstand abrasion when pulling and releasing.
This product will also be certified by Apple, which will ensure charging
reliability and sync compatibility. A sketch of the product is shown
below:
9
z
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Many retractable charging cables have the same cylindrical design that
the idea for my product has. However, none of those products use a
button to control the cable. The button increases efficiency because it
eliminates the time needed to manually roll up the cable. Other cables
also do not use nylon fiber cloth. The nylon fiber cloth is a more
superior alternative than the usual material that charging cables are
made out of. This material is much stronger and much more flexible,
allowing the overall product to last longer. In addition, I hope to get
my cable to be Apple MFi certified. Apple’s MFi Program is a licensing
program for developers of hardware and software that work with Apple
products such as the iPhone, iPad, and iPod (“What is Apple MFI
Certification?”). This certification will allow consumers to feel
comfortable with buying this product because they know that it will be
reliable. Ultimately, I believe that my version of a retractable charging
cable for Apple products will be very successful in its market due to its
various advantages and features.
Since this pricing strategy is only preliminary, this marketing plan will
not be discussing each of these steps in detail. However, step four,
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selecting an approximate price level, and step five, setting list or
quoted price, are the two most important steps in determining the final
price for my retractable charging cable.
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on Amazon.com. Another retractable charging cable that costs $12
total has a cable that costs $10 by itself. Therefore, the cylindrical
center of this retractable charging costs approximately $2. For my
retractable charging cable, the cylindrical piece would cost about $3
because of the additional button and I want to use higher quality
materials compared to the competition. Therefore, the rough cost of
the materials of one unit of my retractable charging cable is $15 ($12
+ $3).
Channels of Distribution
A channel of distribution, also known as a marketing channel, consists
of individuals and firms involved in the process of making a product or
service available for use or consumption by consumers or industrial
users. Marketing channels make possible the flow of products and
services from producer, through intermediaries, to a buyer. Marketing
channels can be either direct or indirect. Direct channels occur when
the producer and the consumer deal directly with each other. Indirect
channels occur when intermediaries are inserted between the producer
and the consumers.
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the most efficient option. Countless users browse Amazon.com daily,
so using this channel of distribution would allow the cable to be
noticed by as many consumers as possible.
Logistics are those activities that focus on getting the right amount of
the right products to the right place at the right time at the lowest
possible cost. Two concepts of logistics management exist: the total
logistics cost concept and the customer service concept. The total
logistics cost is the expenses associated with transportation, materials
handling and warehousing, inventory, stockouts (being out of
inventory), order processing, and return products handling. Customer
service is the ability of logistics management to satisfy users in terms
of time, dependability, communication, and convenience.
The total logistics cost should also be taken into consideration when
determining the total cost of a product, which was discussed in the
previous section. This could ultimately affect the final price of the
cable as well. As the retailer, Amazon would have more control than
me, the producer, over the customer service aspect of this whole
process.
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By choosing the indirect channel of distribution of selling my
retractable charging cable through Amazon.com, I am giving my
product a strong opportunity to be seen by as many consumers as
possible. In addition, this marketing channel allows the logistics
management to be spread among more users, myself as the producer
and Amazon as the retailer. I believe that this method of distribution
will be the most successful for my specific product.
Promotion Strategy
Promoting a product can take a variety of forms, such as
advertisements, sales promotions, public relations, and social media.
Advertising is any paid form of nonpersonal communication about an
organization, product, service, or idea by an identified sponsor. Types
of advertisements include product and institutional advertisements.
Sales promotions can be either consumer-oriented or trade-oriented.
Consumer-oriented sales promotions include coupons, deals, or
premiums, while trade-oriented sales promotions include allowances or
discounts. Public relations is a form of communications that seeks to
influence the image of an organization and its products and services.
Social media is also a simple way to promote products or services
because a wide variety of consumers use social media every day.
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The ratings on this advertisement would be between one and five
stars.
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Works Cited
Kerin, Roger A., Steven W. Hartley, and William Rudelius. Marketing.
10 Apr. 2017.
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