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Marketing Plan - Microfreeze

Executive Summary

The reverse microwave market is a newly forming market, and our new product the Microfreeze hopes to grab a 5% market share in our first year. There have been certain trends in the current microwave market, and since our product is so similar to the microwave, we hope to use these trends for our success. Our competition is going to be from the already large corporations and microwave producers such as GE, Sharp, Panasonic, Emerson, and Kenmore (www.mysimon.com). As a newly forming company with a brand new product, it can be looked at in two different ways. First, that we are small and inexperienced and are almost sure to flop, or second, that we are small have done large amounts of market research, and have the ability to satisfy the customer and move more quickly with the growing trends than the large corporations can. This marketing plan for the newest kitchen appliance, the reverse microwave, or what we have titled the Microfreeze, will take an in-depth look at our marketing plan and strategies to successfully sell the Microfreeze.

Ever had an ice cold drink that just kept melting because of the summer heat? Ever leave ice cream out too long and had it turn to soup? If so, the newest invention by Microfreeze is something that you would definitely be interested in. Microfreeze has come up with a reverse microwave, which we have self titled the microfreeze. It works and looks very similar to a microwave, but it works just the opposite. Instead of heating foods, it cools foods to whatever temperature you desire instantly!

Environmental Scan

The recent trends in the market for kitchen appliances has always been smaller, cheaper and convenience (Levy 10). The original microwaves that first came out in the 1940's were nothing like the ones that we have today. They were big, bulky and expensive. They didn't catch on till the 1960's, but still then they were only used commercially. The microwaves of the 1960's were...