This report analyzes the marketing communication plan of Fashionable Company, including SWOT and PESTEL analysis, STP analysis, marketing mix, media plan, budget plan, and evaluation proposals.
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Marketing Report
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Executive Summary It is analysed that marketing communication is important element which build strong connection between customers and their organisation. It update customers on regular basis regarding products and services which increase their sales. It is essential to opt for best effective marketing technique so that business can earn higher revenue. This report contains about campaign of an organisation. Marketing communication plan is carried out in this report along with its various elements.
INTRODUCTION Marketing communication refers to media and message that organisations use in order to promote their products and services. It provides opportunity to communicate with the targeted audience so that brand awareness can be increased in the market. It includes direct marketing, traditional advertising, sponsorships, presentations and social marketing (Červenka and et.al., 2018). Businesses can easily increase their customer base by implementing effective branding and packaging techniques. This report is based on Fashionable company which offer products to related beauty products and clothes. They provide services and products in all over world by maintaining the quality and standard of their products. This report will include marketing communication plan which includes research and development of products, research of targeted audience, different strategies, budget plan, marketing mix proposals, evaluation proposal and many more. This report also include about reflection and personal role on team development . MAIN BODY SWOT ANALYSIS SWOT Analysis is the framework of internal and external factors of the organization that influences the company's operations in either negative or positive way. Swot defines as the strengths, weaknesses, opportunities and threats of any organization. Strengths and weaknesses are consider in the internal factors whereas opportunities and threats are related to the external factors of the company. Strengths-Fashionable company serve their customers in a unique way that it becomes the very famous in the UK market(Sejati, 2018). It provides variety of fashionable clothes which is on trending in the market. The strengthen of this company istheir quality of their clothes.Their quality of product and good services has become major attraction for personnels and develop the loyalty in customers. Weaknesses-During pandemic, many industries were affected because of COVID-19. Fashionable company also get impacted by the pandemic and its affects the overall businessofthecompany.Fashionablecompanyalsofaceissuesofsupplychain distribution and labour shortage in Covid 19 lockdowns.
Opportunities-By using machine learning and AI to predict and deliver street level requirement and it will be a game changer to the company. It should be great opportunity for fashionable company to invest on technology for acquiring the customers towards the products and services. Threats-The major threats of Fashionable company is their pricing strategy. Customers wants high quality of products in less amount but the fashionable company provides them the products in high prices. It will affect the business of the company because that enhances the competition and customers prefer to purchase from other competitor. PESTEL Analysis PESTEL Analysis describes a framework of macro-environmental factors used to gain a macro picture of an industry environment(Roubal, 2019). It defines the external factors of the organization which affect the operations of the company. The pestle analysis of Fashionable company are mention below: Political factors-Political factors includes government policies and tax policies etc. Political stability is a great strength in UK. So it is the advantage for fashionable company to run their business smoothly. Economicalfactors-Thesefactorsaffectstheprofitsoffashionablecompanyas globally economies havebeen affected during COVID-19 and it is expected that it impacts the huge loss to the fashionable company in UK. Social factors-The social factors of fashionable company are quite good in UK. Because they use the music videos for show off the fashionable clothes and it attracts the customers for buying clothes from the company. Technological factors- Social Marketing is one of the most important innovative inventions of the fashionable company(Vyas and Panesar, 2019). But because of technological issues fashionable company faces highest dynamism and change. Legal factors-Legal factors basically focus on laws such as consumer protection law, employment law etc. The company follows the laws and policies in order to run their business. Fashionable company pay employees minimum wages set by UK government.
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Environmental factors-The fashionable company sets the appropriate environmental policies which makes the environment sustainable for good business conduct. The company is also engaged in keeping the environment sustainable. Communication plan Smart objectives These objectives assist organisation in achieving their goals and success in effective manner(Wijaya, Kristianto, Vanel and Huwae, 2021). It provides roadmap to an organisation to perform operations in desired manner with out any disturbances. Fashionable company have also established their SMART objectives which are mentioned below: Specific:This includes the accurate goal and target which company have to achieve. Fashionable company wants to enhance their sales by 15%. Measurable:Itinvolvesprocedureswhichenhanceandimprovetheoverall performance of company(Pandey, Nayal and Rathore, 2020). Fashionable company measure their performance by tracking their operations on regular basis. Achievable:Fashionable company aims to achieve their goals to increase their sales which can be possible with the help of effective operations. Realistic goals:It requiresvarious resources and equipmentto accomplish goals. Fashionable company involves cost, time and efforts in order to commence their operations. Time:They aims to achieve this goal in 1 month so that they can increase their revenue generation. Communication plan It assist in maintaining better communication and interaction with the targeted audience and stakeholders of an organisation. It analyse relevant in formation which need to be transferred to customers so that they can understand the value and benefits of the products. Fashionable company is planning to offer beauty products to their customers so that they can capture large market area(Pandey, Sahu and Dash, 2018). Different marketing techniques are used by them so that they can increase their presence in market. Fashionable company have used offline and online platforms according to the preferences of customers so that they can share important information among them. Marketing tools proves highly beneficial in influencing the mind of customers to buy their products. STP analysis
This framework will assist communication plan of an organisation by dividing markets according to the priorities of their customers. Organisation can offer customized products to their targeted customers with the help of this analysis. Fashionable company have to identify their customers so that they can offer products and services in effective manner. STP can be classified on the basis of different factors which are mentioned below: Segmentation:Itincludesdifferentregionsofthesocietywhicharedividedby organisation on the basis of their behaviour and characteristics. It includes demographics, psychographic, lifestyle, beliefs and values. Fashionable divide segment which includes majorly female of age group between 18-50. They offer their products in all over the world by covering large number of their customers. Targeting:Markets can be targeted according to the size of location, profitability and reachability(Diatertia, 2022). Fashionable company opt for segment which are highly profitable for them. Large size of potential customers are targeted by them so that they can enhance their revenue generation in effective manner. It is important to customize the products according to the requirements of their targeted audience so that they can retain them longer period of time. Positioning:After the segmentation and targeting of the market and customers, it is duty of an organisation to position their products and services in appropriate manner. It suggest that organisation have to connect with their audience on personal basis. Fashionable company aims to provide support to their customers by resolving their doubts and queries. They take reviews and feedbacks of customers on regular basis so that they can improve their services and products. Marketing mix It includes various factors which affect the marketing function of an organisation it includes 4 P's which can be discussed as follows: Product:It contains particular item which can be tangible or intangible. Fashionable company offer varied range of beauty products along with clothing material for their customers. They maintain quality of their products so that they can attract large number of customers. Price:This element suggest that customers have to pay particular amount in order to purchase products and services. This amount help Fashionable company in generating revenues which assist in growth and expansion.
Place:The area of distribution which organisation opt for offering their products and services are comes under this element. Fashionable company uses offline and online methods to sell their products so that they can engage customers for longer period of time. Promotion:Itincludesdifferentmarketingpracticeswhichassistorganisationin promoting their products(Stiawan, 2018). Fashionable company uses various promotion method which includes sales promotion, advertising, public relation and personal selling. Media plan This refers to the source which is used by an organisation in order to select best appropriate media platform. Fashionable company aims to select media which can cover large market areas in most effective manner. Particular marketing strategies should be developed so that brand awareness can be maintained. Fashionable company have used YouTube, Facebook, Twitter and Instagram in order to advertise their products. Production plan Organisations need to take decisions for their production procedures so that they can offer higher quality products to their customers(Lukáč and Mihálik, 2018). Fashionable company forecast the requirements of their targeted audience before producing products and services. They implement advanced technology in their manufacturing process which assist in higher revenue generation. Budget Plan It is important to formulate particular budget in an organisation so that every function can be carried out in proper manner. Each and every operation of Fashionable company is classified on the basis of their investment which help in setting their budget. They majorly use economies of sale which reduces cost of production to great extent. With the help of effective budget they can easily achieve various opportunities which are essential for further expansion. Fashionable have set their budget around 15000$ for their campaign. Evaluation Proposals This refers to the process which assist in tracking and monitoring activities in appropriate manner. It assist organisations in making strategic decisions regarding operations which need to be carried out in proper manner. It imp[roves the steps and activities which are essential for offering high quality of goods and products to large number of customers. Fashionable company have prepared their evaluation proposal which enhance the productivity of an organisation.
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Personal Reflection on team plan development I have used various approaches and strategies in order to enhance the experience of customers. Various policies are formulated which minimize the cost of production and enhance the quality of products. I have analysed that it is essential to target the market and analyse their needs so that customized products can be offered in effective manner. Regular monitoring and controlling is necessary so that errors and mistakes can be eliminated. Marketing techniques should be used which assist in promoting products and services.
CONCLUSION From the above report it can be concluded that marketing helps organisation in increasing their number of customers by sharing information. Marketing communication is vital part of business which adds value by enhancing their brand image. It is analysed that customers can get easily influenced with the help of marketing communication which share benefits and values of products and services. This report included about marketing communication plan which further involve various functions. These functions are also included in this report which are marketing mix proposal, research and development, media plan, budget plan and many more.
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