Marketing Plan Analysis: Tk-Maxx Clothes - Coursework

This report presents a detailed marketing plan for Tk-Maxx, a clothing retailer. It outlines the company's objectives, including increasing sales and brand awareness. The report analyzes Tk-Maxx's segmentation (age, gender, income), targeting (lower income and fashion-conscious), and positioning strategies. It then delves into the marketing mix, covering product development, promotion via social media and celebrity endorsements, pricing strategies (cost reduction, discounts), and distribution channels. The report further provides a SWOT analysis (strengths, weaknesses, opportunities, and threats) and a PESTLE analysis (political, economic, social, technological, legal, and environmental factors) impacting Tk-Maxx. The report concludes with marketing techniques, emphasizing multi-channel promotion, customer-centric strategies, competitor analysis, and alignment with overall objectives. References to academic sources are included.

Marketing Essentials
Task - 4

Objectives: The company has introduced the marketing plan to promote the selling of
it product to wider number of customers including different varieties for all age
group of people targeting both men and women. There are some objectives of
which the company wants to achieve:
 To increase the sale for kids apparel by 15%.
 To increase the brand awareness on online platforms by 20% by the end of the
financial year.
 To increase the sale leads of women clothing by 25%.
 To build up new brick-mortar shop in UK..
LO.4 Marketing plan for Tk-Maxx clothes

Segmentation:
The company has segmented it markets on the basis of it
customer depending on various groups i.e. basis of Age,
Gender, Income class.
The company has set clothes for there different age groups that
company provide clothing for kids, further the company has
set different fashion apparels for men and women.
Contd….

Targeting:
The company has targeted people of lower income group and
who show knee interest in upgraded fashion apparels, the
company has introduced “mod-box” in there men and women
section attracting young crowd to their products, the company
is trying to build up the desired sense and quality of fashion in
their products.
The company has properly placed products for promotion to
reach it target market.
Contd….

Positioning:
The company sets to improves it positioning as the company is
still unknown to many people across globe, the company has
decided to build up it online position and to increase it brand
value in the cloth apparels.
Further the company is trying to position itself on other modes
of promotion.
Contd….

Marketing mix of the company: Company has set up a marketing mix to
promote it clothing apparel:
 Product: The apparel should must be designed in order to look different form
that of our competitors. The company must focus on the quality aspects of the
apparel it should not be of cheap and low quality. The product should be
developed with new trends i.e. company should add some eco-friendly or
clothes made up of recycled items.
 Promotion: To get the cloth reachable to all targeted sections company should
go for some other tactics of promotion, company should promote the brands
with the help of some known faces or celebrities who can promote and increase
the customer for the product. The company should promote brand on social
media platforms like Instagram, Facebook and You Tube so that young
generations can get to know more about it and would shop on these portals.
Further the fashion apparels can be promoted by the CPR that with the help of
customer promoting with word of mouth
Contd….

 Price: The pricing strategies should be in accordance of all the
customer so that the customer satisfaction does not reduce, this can be
achieved by cutting down cost of production, providing discounts and
benefits on some fresh products occasionally can help company
increase profits, further the company should try to reduce down it
budget by adopting the self-sustain production that the company should
collect it raw materials directly from suppliers or can we grow own it
own. These cutting down of intermediaries cost will result in better
quality of product at lower price.
 Place: The company should increase it places of distribution, channels
of distribution should be direct so the delay of product can be avoided.
The company should developed the network of distribution across the
globe, increase it retails shop location, and make it online business
more accessible and stronger .
Contd….

SWOT Analysis:
Strength:
 the company sales are increasing by 6.2% every year.
 The relatively low price of the company is attracting more
customers.
Weakness:
 The customer service of the company is not satisfactory.
 The recession on the current scenario destroys company profit
margins.
Contd….

Opportunities:
 Company has the capability and capacity to increase it product
line.
 The company can build up a strong online base.
 Varieties of product can build up it customer interest in it.
Threats:
 Company faces increase competition in relation to price terms.
 Cut throat competition with competitors id affecting the brand
value and sales of the company.
Contd….

PESTLE Analysis
Political: The policies issued by the UK government is affecting
Tk-Maxx:
 Tax policies.
 Trade restrictions.
 Tariff barriers.
Economical: The present economy situation of UK has effects
on Tk-Maxx:
 Recession in the economy.
 Problems of the currency exchanges.
Contd….

Social:
 Positive reaction of customers towards the product.
 Affordable price goods.
Technological:
 Introducing itself on social media platforms.
 Keeping store upgraded with latest technologies
Contd….

Legal:
 It is complied to follow the industrial laws.
 Age restriction/ limited working hours.
Environment:
 The stores are neat and clean.
 Company give message of recycle and reuse of the
products.
Contd….

Marketing techniques:
 The company should promote it products through all channels of
distribution, includes access to the online portals of all the
customers, build up a strong network of communication to attract
the customers.
 Company should work on the strategies and develop the strategies
according to the product, should add new trends and varieties for
there customers, promotion of products should be done with strong
promotional networks, company should switch to TV commercials
but to keep it access to local and villages company should promote
itself through radio, newspapers and magazines
Contd….

 The targeted customers are been fulfilled with there demands
and the company should gather information regarding the
choices, preferences and latest trends.
 The company must opt for a suitable location to operate its
business, so that it can reach to more customers less time. The
delays in distribution of products should be avoided.
 Scan and analyse the competitors strategies so that proper
action can be taken, further company should see to the
behaviour of competitors there reactions towards company
plans and strategies.
 Lastly, the company should implement all its plan in
accordance to the overall objectives of the firm.
Contd….

Berthon, P.R., 2012. Marketing meets Web 2.0, social media, and
creative consumers: Implications for international marketing
strategy. Business horizons. 55(3). pp.261-271.
Castronovo, C. and Huang, L., 2012. Social media in an
alternative marketing communication model. Journal of
Marketing Development and Competitiveness. 6(1). p.117.
Kim, A.J. and Ko, E., 2012. Do social media marketing activities
enhance customer equity? An empirical study of luxury fashion
brand. Journal of Business Research. 65(10). pp.1480-1486.
Wilson, R. M. and Gilligan, C., 2012. Strategic marketing
management. Routledge.
References