Marketing Plan - Assignment Sample
Added on 2021-04-17
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Template: Marketing PlanDate:Author:1.Aims and goalsWhat is the purpose of this marketing plan and what are the desired outcomes, this can be financial results or something else i.e. increased awareness? Remember to keep your desired outcomes SMART (Specific, Measurable, Achievable, Relevant and Time-Bound)The aim of creating the marketing plan is to ensure that more customers remain attracted to the company and an increase in the awareness of the brand is made possible. The marketing plan also need to include proper analysis of the European business market for expansion2.Target audience and behavioursDefine your desired target customers (you can have multiple segments) and prioritise those that have the highest potential for growth.WomenMenChildrenWho are they? I.e. age, lifestyle, disposable income, location, job title Women of all life styleand ageMen of all life style and ageChildren below 12 yearsWhich media channels do they use?Social mediaSocial mediaSocial mediaWhy do they buy this product/service?For its unique designsFor the sports apparelsFor the designWhen do the use this product/service?Luxurious requirementOn an everyday basisLuxurious requirementHow often do they buy this product/service? In what quantity?On an annual basisOn an annual basisOn an annual basisAre they brand loyal?YesYesYesDo they use any of your other products/services?NoNoNo3.CompetitionIdentify your key competitors and explain why customers may choose them instead of you.CompetitorReason to choose themLouis PhillipeHigher brand nameMarc O PoloLocal German company and have wide range of collectionTEMPLATE –MARKETING PLAN© CIM Marketing Expert
Mavi JeansProduces jeans for men and womenBargaining power of suppliers is medium as Esprit have a number of suppliers in the communityThreat from competitors is high as the competitors are well established in the local and international marketBargaining power of buyers is medium as the customers can easily shift from one brand to anotherThreat of substitutes is high due to the existence of stiff competitionThreat of new entrants is low as the established brands cannot be dislocated easily by new brands4.Unique selling propositionDefine why customer would choose your business, what makes your business and products/services unique?The reason for Esprit Holding being unique is the fact that it produces clothes suitable for every member in the society. The fact that it has included clothing apparels for kids have made the brand the unique from competitors5.SWOT analysisStrengths:Strong brand positionBalanced retail contributionGood employee strengthWeaknesses:Limited European presenceIntense competition among employeesOpportunities:Engage the growing population in emerging countriesGrowth in casual wear marketThreats:Intense competition from other brandsProduct substitutionCheap imitations in the marketTEMPLATE –MARKETING PLAN© CIM Marketing Expert
Low manufacturing and production costSpecificConduct proper market research and recruit talents that can help in the progress of the companyMeasurableThis strategy can be measurable by monitoring the improvement of the revenue of the companyAchievableIt can be achieved as most companies can aim to attain the target necessary for the progress of the companyRealisticIt is realistic as the competitors of Esprit have applied this strategy successfullyTimelineIt can be achieved within 3 months6.Marketing channelsIdentify which marketing channels may be open to you and then think about which ones would be appropriate for your target audience. You will also want to understand how each channel’s successwill be measured and the cost of each channel. Once you have done this, create a shortlist of your preferred 4 channels to start with.Marketing channelProsConsAppropriatetargetaudienceMeasurementCostSocial mediaCan be accessible by all peoplePeople may find it to be rumoursAll groups of peopleBy regularly updating the social media platforms$450TelevisionReaches a wide range of peopleNeed to find the appropriate time and showWomen and childrenBy creating television advertisements$320NewspapersReaches a wide range of peopleMost people ignore the advertisement sectionAll groups of peopleBy checking for responses$300HoardingCan reachevery peopleCannot be placed ata strategic placeAll groups of peopleFrom the responses of the people$500Shortlisted Marketing channels1. Social media2. Television3. Newspaper4. HoardingTEMPLATE –MARKETING PLAN© CIM Marketing Expert
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