For Rey Writer

Marketing Plan

Tamico Little

MKT500 Marketing Management

Strayer University

Dr. Dotty Heady

February 15, 2016

Marketing Plan

Mission Statement and Introduction

The mission of Plaxe, Inc. is to be the leading electronic manufacturing company in the world that offers its consumer’s quality and affordable products that that will enhance all aspects of their lives by giving them a new shopping experience. The company will conduct its business operations under the name Plaxe, Inc. This will also be the name of the smartphones that the company will be producing. Its industry is one of the most competitive and dynamic industries because the survival of a company in this industry will greatly depend on the innovative abilities of the company with regards to keeping up with the ever-growing consumer needs (Giachetti, 2013). Plaxe, Inc. is determined to bring tremendous change in the industry by not only bringing in quality products into the market but also affordable gadgets that serve the specific needs of the targeted market. Even though there are many companies in the industry who can be considered to be the major players, there is a niche in the market with regards to the production of quality high-end devices that are pocket-friendly (Giachetti, 2013). A good number of the players in the industry are offering their products at much higher prices which some individuals find to be very expensive. As a result, the company is coming in to close this gap by giving the targeted customers an opportunity to have the greatest technology experience at almost half the price of what is being offered in the market by the competitors. With this in place, the company will be able to gain a competitive advantage over the other competitors in the market (Wollenberg, 2014). As a result, Plaxe, Inc. will be able to stay in business by running a successful business operation driven by a profitable revenue stream. The company also understands that entering the market with cheaper gadgets may not be an easy task and that is the main reason there are measures in place to ensure that Plaxe mobile is effectively marketed to the targeted market so that they will be able to gain first-hand information about the phone and its capabilities with regards to satisfying their specific needs.

Branding Strategy

One thing that Plaxe, Inc. is focusing on is giving consumers value for their hard earned money, and this is something that will be reflected in all aspect of using Plaxe mobile. The company is anticipating that for the very first time that consumers have an encounter with the variety of mobile gadgets that the company will avail the market; they will not turn back. This is what will see it through, that the company can build up consumer loyalty which will greatly contribute to brand loyalty. The company will also make sure that it is there for its customers with regards to handling any of the queries that they may be having when they are using the mobile phones (Mallinson, 2015). There will be a customer center in all the countries that the phone will be sold in, and this will help create contact between the company and its customers as well as potential customers.

The brand logo will incorporate the name of the company, and this is for making sure that the brand is not in any way confused with any other company to the targeted customers. Below is the representation of the company logo which also be appearing on the front and back of each Plaxe mobile.

The slogan of the company is, “Experience more for less.” This is basically formulated around the goals and objectives of the company which is to offer affordable high-end quality mobile device to the mobile users. The brand extension that the company will use is getting into partnership with the service provider who have already been on the market. This will enable the company can get the attention of the customers who are already using the networks of the service providers (Wollenberg, 2014).

Marketing Strategy

The company has come up with a marketing strategy that will permit it to achieve its goals and objectives. The strategy is based on a marketing research conducted by the company so as to determine who best the company can be able to reach out to its targeted market. As mentioned earlier, one of the strategies that the company will have to utilize is to partner with allies. When this is in place, the company will be able to benefit from the customers that the local service providers have in their customer base. The partnership will go a long way in helping the company reduce its marketing and advertising costs (Tseng, Liu & Wu, 2014). This is so because, through the partnership, the marketing costs will be shared between the two companies.

The second strategy that the company will take is to market its products through the internet. The majority of individuals being targeted by the phone use the internet and as a result, they will be able to come across the device and get to know more about it. Here there will be articles and videos prepared by the company that will give internet users as much information as possible about the product.

Last but not least, the company will also reach out to the targeted customers through a famous individual. Here, a TV commercial will be developed, and this will focus on how the famous individual such as a movie star or sports celebrity uses the product. This will be a very effective way of convincing the potential buyers that the product is not only affordable but also of remarkable quality and will be able to satisfy their technology needs. All the above marketing strategies will be initiated immediately when the product is launched. Gradually, the company will then be able to come up with other marketing strategies based on the feedback and response obtained from the consumers.

Positioning Statement

“To the individuals who are concerned about having the latest technology at their disposal, when they see Plaxe mobiles, all they will think of is how convenient it is save the extra money for the future because of the ridiculously affordable prices.”

Looking at the above map, one can clearly see that Plaxe mobile will be ahead of all the other competitors in the game by being more affordable, high-tech, user-friendly as well as durable compared to the other competitor’s products. This is what consumers are looking for, being able to get more value for less and thus use the extra money that they would have otherwise used to buy an expensive phone for other purposes.

Consumer Behavior

Consumers in the mobile industry are greatly affected by the first impression made by a brand or product. Making a good first impression is paramount to the success of the company in the already flooded and volatile industry. Consumers are looking up to new and advanced technology, and when they can get that, then they will be willing to buy the product. This is evidence of the fact that consumers are always looking out to the launch of a new and advanced device that will be able to do some of the things that the previous devices could not. As such, developing a product that is on top of the game with regards to technological innovation will be a very important factor in the success of Plaxe, Inc. Also, the company will put up platforms that will allow consumers to interact with the employees of the company through social networks so they can get exactly what they want or expect from the product (Mallinson, 2015). With this information, the company will be in a better position to influence the behavior of their customers or targeted customers with regards to offering them the technology that they need on the Plaxe smartphones and thus having no other reason to settle for the competitors products.

The brand name is unique, and thus, individuals will be curious about getting to know the product. The logo is a sign of a shining sun, and that means bringing high-tech devices to everyone. The slogan as mentioned above is for making the targeted market understand that buying a Plaxe device will see to that they have more to save. With the brand extension, consumers will know that Plaxe mobile is a reliable product they can trust (Tseng, Liu & Wu, 2014). Last but not least, the positioning statement informs the consumers that they no longer have to worry about spending a lot of money for the latest technology.

Giachetti, C. (2013). Competitive dynamics in the mobile phone industry. [Basingstoke]: Palgrave Macmillan.

Mallinson, K. (2015). Smartphone Revolution: Technology patenting and licensing fosters innovation, market entry, and exceptional growth. IEEE Consumer Electron. Mag., 4(2), 60-66. http://dx.doi.org/10.1109/mce.2015.2392954

Tseng, F., Liu, Y., & Wu, H. (2014). Market penetration among competitive innovation products: The case of the Smartphone Operating System. Journal of Engineering and Technology Management, 32, 40-59. http://dx.doi.org/10.1016/j.jengtecman.2013.10.002

Wollenberg, A. (2014). Consumer Behavior in the Smartphone Market in Vietnam. International Journal of Innovation, Management and Technology, 5(6). http://dx.doi.org/10.7763/ijimt.2014.v5.550

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