Strategic Marketing Plan
|3.1||Internal Development of Company I and its products|
|3.2||External development - market analysis|
|3.3||External development – competitor analysis|
|4.||Strategic planning methods and models|
|4.2||Porter Five Forces|
|4.3||BCG Growth Share matrix|
|Consequences and Implementation|
|Supporting Model: Ansoff Matrix|
The internal development of our company is made up by our different products. Product SIRO was an already established product when we took over the company. We developed and modified SIRO in a way that it meets all the ideal perceptions of the others, in order to conquer the market ‘others’. Our focus is to try to stay as close as possible to the changing ideal values of the others. The other product which already existed when we took over the company is SIBI. In the fourth period we modified the original SIBI and the base for this was the PSIB2. The only change made was the design and the result of this was an increased share in the market of singles and others. In the 5th period we discovered an opportunity. None of the products met the ideal values of the high earners. With two products totally focussed on the singles and others, we still had PSIB2. We used PSIB2 as the base for our new product: SIIH. With SIIH we penetrated the market and conquered 10% of the market share. In the sixth period a new product has been introduced; SISI, a product which completely meets the ideal values of the singles.
Our main competing brands currently are: SAMA, SALT, SEIK, SYGU and SUSI. Others could be considered as well but their prices are too high for our two main target groups. Over the last period company Y, O and U have invested more than 1 million in research and development, some even more than 2 million. This could either mean two things: they are going to put great products in good positions or they are going for the Vodite Market. Company A is the biggest threat to us as their products are already aligned with the same target groups therefore we must consider the possibility of possible market penetration by them.
On the hand of different models from the theory, namely the SWOT analysis, confrontation matrix, Porter’s 5 forces model and the BCG growth share matrix, we developed our business strategy.…