Company G's Tea Makers Mission Statement

Introduction

Company G is a company that specializes in high-quality Tea Makers. The appliances were designed to allow the consumer to create their own tea with different types of flavors, all in the convenience of their own home. Company G’s Tea Makers are dependable and easy to use.

Product Description and Classification

Product Description and Support of the Mission

Company G Mission Statement

“We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronics solutions.”

Company G’s Tea Makers will allow the consumer to create their own tea with different types of flavors. Experienced tea makers may know there will be problems when making tea, such as different type of tea leaves

The product is created at its lowest average cost with minimal waste, allowing the company to save on resources.

• The final strength is multiple prototypes being tested to ensure the reliability and safety of the high-quality products.

Weaknesses

• Consumers have the option to purchase lower end models. If consumers see the product as a convenience good rather than a shopping good, they are more than likely to go with the cheaper price.

• Establishing new relationships with new suppliers requires time and effort to get the best materials at the lowest cost.

• A possible weakness is the entry into large corporation retailers. A store such as Costco has a huge variety of items. There will be a lack of promoting and educating the customer in store about the key features of the product which is vital.

Opportunities

• By advertising the product, Company G is increasing the brand awareness. It will make the product familiar with household essentials. By sponsoring events and celebrities, this will only increase the brand awareness.

• The internet is a key resource for the consumer to review the product. Consumers can view the product and compare it with other products. This would allow the process of decision making to be more efficient and the consumer does not have to attend any special events to further expand the knowledge of the

Price Strategies o The Tea Maker will be $50.00 and will come in individual sizes. o The family size jar will be available as an extra accessory for the Tea Maker for $10.00 o Offers many different flavors of tea at a price of $5.00 each package.

The Tea Maker is at an affordable price with many different flavors to choose from in the comfort of the consumer’s home.

Place Strategies o The Tea Maker will be sold in Costco for in-store demonstrations and samples. o The Tea Maker will be sold in large corporation retailers such as Fred Myers and Walmart. o The Tea Maker will also be available online, which is an advantage since no distribution charges will be made if ordered from Company G’s website.

By having in-store demonstrations and samples, consumers can see how the Tea Maker works and how it tastes. After the first year of selling and advertising online, consumers can go to the large corporations and purchase the product right off the shelves.

Promotion