MARKETING PLANGoBlue Inc. GoBlue ConnectorsTeam: Innovative MarketersGlenn FialaJoy BabalolaLaurie WellsRobbie ChapmanTerrence PhillipsAMBA 603Dr. Murray MillsonAugust 10, 2008Marketing Plan Template AMBA 603Table of ContentsTABLE OF CONTENTS21.0EXECUTIVE SUMMARY32.0SITUATION ANALYSIS32.1Mission32.2Product or Service Description32.3Value Proposition42.4SWOT Analysis - Strengths, Weaknesses, Opportunities, and Threats42.4.1 Strengths42.4.2Weaknesses42.4.3Opportunities42.4.4Threats52.5Critical Issues53.0MARKET ANALYSIS53.1Macro Environment53.2Market Size and Growth53.3Market Trends53.4Target Market Analysis53.5Customer/Consumer Analysis63.6Need Analysis63.7Competitive Analysis63.7.1Direct Competition63.7.2Indirect Competition64.0STRATEGY64.1Marketing Objectives64.2Financial Objectives74.3Positioning Strategy84.4Product Strategy84.5Price Strategy84.6Distribution Strategy (Direct and Indirect)84.7Integrated Marketing Communications Strategy84.8Branding84.9Marketing Research85.0FINANCIAL ANALYSIS85.1Break-Even Analysis85.2Sales Forecast85.3Expense Forecast86.0IMPLEMENTATION AND CONTROL86.1Implementation96.2Controls96.3Marketing Organization96.4Contingency Planning91.0 Executive Summary2.0 Situation Analysis2.1 MissionThe mission of the Innovative Marketers is to develop a more convenient means for the non-technical consumer to enjoy electronic components in a wireless capacity. 2.2 Product or Service DescriptionGoBlue connectors are a line of wireless audio and stereo component connectors. The connectors will initially be offered in four different product groups which include: component RCA, High-Definition Multimedia Interface (HDMI), and audio connectors.The GoBlue unit without the component connectors attached are two and one half inches long, five eights inches wide, and five eights inches deep. (see Appendix 1). Each unit is encased in a white plastic covering with a GoBlue logo printed lengthwise along one of the sides. Also, on the topside of the cover is a small opening for a small blue light-emitting diode (LED) to slide into. The LED light is a status indicator providing information to the user about the connection between the paired units. The backside of the case designates whether it is a transmitting or receiving device with the words transmitting or receiving embossed onto the casing. For example, to connect the audio portion of DVD player to a stereo system, the DVD player would get a transmitting GoBlue connector and the stereo receiver would get a receiving GoBlue connector.Each GoBlue component connectors has an Intel Ultra-Wideband (UWB) chip. The chips are designed to provide low-power short-range radio transmissions within a thirty foot area (Intel Technology & Research, 2007) Each GoBlue component connector have a built in power generator. The power generators receive their power from two tiny magnets that spin around a copper coil. The power generator is well insulated to avoid any interference with the electronic equipment and the UWB radio transmissions. Estimate product life is fifteen years.2.3 Value Proposition2.4 SWOT Analysis - Strengths, Weaknesses, Opportunities, and ThreatsThe Innovative Marketers management team for GoBlue Inc. will need to develop a SWOT analysis. The SWOT analysis should examine the internal and external environments to pinpoint GoBlues products strengths, weakness, opportunities, and threats (Kotler & Keller, 2006, p.30).2.4.1 StrengthsGoBlue connectors product strength is that it is an original invention, taking existing technology from other products joining them together to create a new innovative product. GoBlue connectors are small and easy to use, and will allow the consumer to have the freedom to move their TV and stereo components around a room with out the hassle of cables. GoBlue connectors come pre-paired, programmed to find their mate automatically, making them user-friendly for even the most technology challenged.2.4.2 WeaknessesGoBlue connectors main weakness is price; potential customers may not feel the need to replace existing component wire cables with wireless devices that are comparable in price. In addition, GoBlue connectors are limited to distance of around thirty feet between each connector. Due to bad experiences with other Bluetooth devices such as hands free mobile headsets, users may also have the perception that the wireless connectors do not provide the same quality as wired connectors. Moreover there are a limited number of purchases expected from each customer, attributable to the limited number of connectors needed and the long reliability of each connection device. Finally GoBlue Inc. has limited capital, which w