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Craftmade Marketing Plan

In: Business and Management

Submitted By shristie
Words 6166
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Marketing plan Craftmade International Inc. Marketing Plan Executive Summary With energy prices increasing and an increased interest in sustainability, a market for high efficiency, environmentally friendly lighting has been created. This need can now be cost effectively met with LED lighting technology because of recent advances in LED manufacturing techniques in China combined with maturing LED technology. Currently, no one has successfully entered into the market place to fill this void. Craftmade is well positioned to step forward and fill this void. Recent legislation in Washington has paved the way for increased public uptake of more efficient CFL and LED lighting. While incandescent light bulbs have not been phased out yet, it is important for Craftmade as a lighting appliance manufacturer to lead the way in lighting technologies. Already, competitors such as GE Lumination, and Philips have begun to introduce innovative products that incorporate LED lighting, and have seen large returns as a result. Due to technological advances in LED manufacturing and increased consumer exposure on store shelving, LED light bulbs are increasing in quality and decreasing in price. In order to take advantage of these recent developments in the lighting industry it would behoove Craftmade to adjust current designs or introduce new designs that implement the use of LED technology. The most advantageous opportunity would involve re-introducing current designs with LED capabilities while still maintaining designs that utilize CFL and incandescent lighting.
Mission
Craftmade International Inc.’s mission is to better serve its customers and offer the widest range of options possible for unique, innovative products including new lines of interior and exterior lighting fixtures, ceiling fans and vent fans at affordable prices. The company is also focused to see a

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