Final Marketing Plan

In: Business and Management

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Pages 20
Final Marketing Plan

Marketing 421
June 24, 2012
Robert McGeary

Final Marketing Plan
Team D has completed its marketing plan for the Extreme Juicer 9000. This paper has combined phase I, II, and II to complete a detail description of how the new product will be marketed. The final plan includes the place and promotion strategy, advertising plan, public relations opportunities, as well as the identification of distribution channels. This final marketing plan will also identify how Team D will evaluate, control, and monitor the effectiveness of the marketing plan.
Company Overview
Hamilton Beach Manufacturing Company was created in 1910 by Chester Beach, L.H. Hamilton and Fredrick Osius. The partners met while working at the U.S. Standard Electrical works in Racine Wisconsin. Today, Hamilton Beach is the leading distributor of small kitchen appliances which sells over 35 million appliances each year. Hamilton Beach also produces products under the labels of Electronics, Proctor Silex, and True Air. (Hamilton Beach, 2012) Earnings for Hamilton Beach increased in the last quarter due to the increase in price for some products. In March of 2012 Hamilton Beach reported a net income of 1.0 million and revenue of 104.9 million. In 2011 the net income was 1.0 million with revenues of 100.6 million for the quarter. (Bloomberg Businessweek, 2012) The new product is likely to produce the same outcome for the company.
Hamilton Beach has been in existence for a number of years. Its brand name and slogan “Good Thinking” provides an added value to the products that are manufactured under its name. Team D will research and estimate how the new product will excel in the current market.

Product Description
The product that we introduced to the new market was a high end juice extractor for Hamilton Beach called The Extreme Juicer 9000. The retail price for our juice…...

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