Marketing Plan for Infinity Clothing: Pricing, Distribution and IMC Strategies
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Added on 2023/04/24
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This marketing plan discusses the pricing, distribution and IMC strategies for Infinity Clothing, a clothing brand targeting various income groups and lifestyle choices. The plan includes branding strategy, target market, consumer behavior, positioning statement, pricing strategy, distribution strategy and IMC plan.
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Running head: MARKETING PLAN MARKETING PLAN Name of the Student Name of the University Author Note
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1MARKETING PLAN Executive Summary: The purpose of the paper is to understand the marketing plan of Infinity Clothing by strategizing its pricing, distribution and Integration marketing Communication Plan. The paper highlighted the branding strategy followed by its target market. The paper consists of the different stages of IMC plan with the focus on communication methods.
2MARKETING PLAN Table of Contents Introduction:...............................................................................................................................3 Discussion:.................................................................................................................................3 Branding strategy-..................................................................................................................3 Target market-........................................................................................................................3 Positioning statement:............................................................................................................4 Consumer behaviour-.............................................................................................................4 Pricing strategy-.....................................................................................................................4 Distribution strategy:..............................................................................................................5 Conclusion:................................................................................................................................6
3MARKETING PLAN Introduction: The comprehensive plan, which constitutes the marketing and advertising activities of a company, is known as marketing plan. The purpose of this report is to frame the marketing plan of the company Infinity Clothing store. This is the third part of the report, which will construct pricing, distribution and communication strategies based on the feedback received in the second part of the assignment. Discussion: Branding strategy- A brand needs to set its long-term plan to achieve its marketing objectives within a stipulated period. The planning is known as the branding strategy. An effective branding strategy will address consumer emotions, consumer needs and competition as well as business activities will experience the impact of the strategies. The branding strategy for Infinity clothing should consists of the communication objectives including the visual aspects of the brand. The brand name is Infinity Clothing. The logo will be sign of ‘create’ with colours bursting out of it. The slogan of the brand will be“From the house of the creative master”. The visual aspects of the brand (logo) will reflect the message ‘creating fashion with changing trends’. The brand is not just a name it should be telling a story. The verbal strategy of the brand should be planned by designing an advertising content, which will talk about the emergence of the idea for the brand and how everyone can afford the changing trends in fashion industry. The brand story will influence the buying behaviour of the target market, as they will be attracted towards buying affordable fashion to satisfy their lifestyle maintenance urge.
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4MARKETING PLAN Target market- The target market plan is deduced by considering the segmentation bases of the brand. Infinity Clothing selected the target market based on lifestyle (psychographic segmentation), gender, age and income (demographic segmentation) and location (geographic segmentation). The clothing brand will be targeting primarily to the people living in Kansas and secondly to women as the percentage of trend consciousness is greater to that of men. The brand will also target men, who constitute 48% of the population. Positioning statement: For consumers who would want to be in harmony with the changing trends of fashion with an affordable price tag, Infinity clothing designs and sells affordable quality fashion from the online and physical store. Infinity clothing will reflect the USP of selling unique fashion clothing and accessories in affordable price for targeting various levels of market. Consumer behaviour- The buying behaviour of the target market of this brand will reflect on the influencing agent of the consumers. The affordability factor of the brand will influence the buying behaviour of the various level of income group (demographic segment); the changing fashion trend incorporated in the fashion line will influence the buying decision of women and men. The lifestyle choice of the consumers (psychographic segment) will influence the decision of buying fashionable clothing and accessories. Pricing strategy- The pricing strategy will be a combination of value pricing and economy pricing as the brand is targeting various income groups and consumer with strong lifestyle choices. The mixture of the two strategies will offer a product based on the value of the quality in the
5MARKETING PLAN fashion items for satisfying the lifestyle value of a consumer and economic range will be attracting various income group. Distribution strategy: Infinity Clothing will adopt a selective distribution strategy in which the fashion items will be made available by selecting various kinds of effective medium. The store will be selling through its own exclusive stores and will be available online. The brand will also be expanding its presence by using the concept of shop-within-shop in the future to enhance the reach. Integrated marketing communication (IMC) plan- The IMC plan will help in communicating the brand message of Infinity clothing to the target market. The IMC plan will include following components: Foundation stage- Infinity clothing will design and sell fashionable clothing and accessories with unique styles and the quality intact with the offering (Key & Czaplewski, 2017). The brand will be offering the products for their target customer, which constitutes women, men, various income group and various lifestyle choices. Brand focus- It will depict the identity of the brand. The clothing and accessory line will be focused on producing quality product by coordinating with the changing trends and the products will be have affordable price range. Consumerexperience-Theconsumerexperiencewillbeenhancedwiththe availability factor (Luxton, Reid & Mavondo, 2015). The clothing brand will be available online and through its store. The brand will aim at adopting shop-within- shop concept to have higher visibility. The brand will be focused on the service by taking regular feedback from its online platforms.
6MARKETING PLAN Communication tools- The brand will communicate the brand message, creating fashion with changing trends by promoting its product through local influential personalities in social media platforms like Facebook and Instagram page (Fill & Turnbull, 2016). They will also use content marketing by appointing local bloggers for promotion. Cause marketing will be used by utilizing a part of the sales for fulfilling the clothing needs children below the poverty line. Promotional tools- The product will be introducing discounts and offers in the initial months to penetrate in the market with full efficiency. Conclusion: Therefore, the report can be concluded by stating that the brand will offer fashionable clothing and accessory line within an affordable price range to the customers of various income groups and lifestyle choices. The brand will promote its product through local influencing personalities like bloggers and youtubers in the online platform.
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7MARKETING PLAN References: Fill, C., & Turnbull, S. L. (2016).Marketing communications: brands, experiences and participation. Pearson. Key, T. M., & Czaplewski, A. J. (2017). Upstream social marketing strategy: An integrated marketing communications approach.Business Horizons,60(3), 325-333. Luxton, S., Reid, M., & Mavondo, F. (2015). Integrated marketing communication capability and brand performance.Journal of Advertising,44(1), 37-46.