VI. MARKETING STRATEGIES
A. Future Target Markets
Sorja will be targeting low-to middle-income young adults as well as the elderly. Students is no doubt would likely to be interested in the dresses we offered because the price is very affordable. Meanwhile, the other group that will be targeted is the broad category of the fashion conscious female with disposable income. Firstly is housewives as this segment has plenty of disposable income because of their husbands. These women love dresses, and spend fair amounts of time shopping for clothing. With both money and time, there is no limit to the number of cool dresses that they would like to own. Next category is the working professional women. They typically earn more than RM2, 000 themselves.
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These items would also come in trendy an basic colors, with a choice of logos and slogans. In addition, every product would bear the Blue Sky logo.
2. Price
Price is a critical part of the marketing mix as it will help to maximise profits and also build strong relationships with your customers. Therefore, Sorja products are priced with the competition in mind. We are not concerned with setting high prices to signal high end apparel, nor to set low prices with selling high quantities of our products. Instead, we emphasized on value pricing so that customers feel comfortable purchasing new clothing to replace the old, even if it is just because they like the new colours. The pricing strategy also makes Sorja clothing’s as good gifts—for birthdays, graduations, or “just because.” Thus, Sorja offers very affordable price as compared to other companies or brands. The price is between RM** as the cost price are between RM**. In addition,
In addition, most teens and college students are money tight and we will cater to their needs. Our very own signature "jubah dress" will be stylish yet affordable and everyone will need a simple jubah dress in their closet and they 'll know just where to get it.
3. Place
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MARKETING IMPLEMENTATION
A. Marketing Organization
Details on how your company will be organizes? Functions, products, regions or type of customers – to implement your marketing strategies.
Sorja marketing strategies will be implemented according to the functions of each product, regions and types of consumers. Our company provides various types of products and each product have their own functions. We even decided to market the products according to consumer demand. For example, types of dress (jubah).
Other than that, we also plan to promote our products in Malaysia by advertising it online, thus allowing our consumers’ to promote the the product mouth-to-mouth and hoping that they would recommend to all their acquaintances. Besides that, we
B. Activities, responsibility, and Timetables for Completion – Grantt
Marketing – marketing is a form of communication between you and your customers with your goal being to sell them a product or a service. Our marketing department will strive for excellence in selling the name of the business and the service we pride. There target would be larger companies that have a lot of computer use. We would try to get them as clients for computer repairs and also to update their software frequently to keep them in touch with newer software coming out. This would help them tremendously with the efficiency of their service delivery to their clients.
When launching a new product or service, a company needs to develop the key group of customers in which they are targeting. There are many steps in identifying the target market; one of these steps is to look at past marketing plans in a company and collect information to produce a customer profile. This profile is important because “it influences the objectives, creation of the communications message and the channels and media mix being selected” (Gbadamosi and others, 2013, p. 275). When this profile is solidified, the appropriate methods to make a successful marketing plan can take action to launch the new product or service. Nordstrom’s Treasure & Bond, is a new clothing line by the leading fashion specialists, targeting 18-30 year
More education should inform more people globally to understand to ongoing issues with the garment industry to evoke global change. Consumers should be informed as to why prices of apparel should not be at the inexpensive cost that it is now, because of the underlying reasons of how the company gets the clothing to that price. Inexpensive, fast fashion from stores like H&M, Forever 21, and Joe Fresh may seem most budget friendly but are not environmentally or sustainable globally. The demand for fast fashion should be brought to political action to help make a global change for the endangered workers of the garment industry. Overall, “The True Cost” does an outstanding job at pointing out the impacts of consumers and their fast fashion choices.
INDIVIDUAL ASSIGNMENT TRANSNET – MANAGEMENT ADVANCEMENT PROGRAMME (MAP) 2015 Module: Principles in Marketing Date of submission: 06 March 2015 TABLE OF CONTENT Page 1. COMPANY OVERVIEW 3 2.
Dr. J.R. Bester founder of Science Applications International Corporation (SAIC) is headquartered in McLean, Virginia and employ 40,000 people in 2013. This Aerospace and Defense industry offer products and services in the system integration, technical services and solution and scientific engineering. SAIC strengths are their loyalty they have from their clients by proving their customers with innovative merchandise that put the company ahead of others in their industry, with management marketing teams improving services through services and merchandises increasing company growth. The distributors that the support the company provides the company supplies are better than their competition (A, 2012).
The target customers here in case study sport market, whose are Younger’s and their age are form 18 to 34 years. Development well-dressed packaging The second step involve in marketing is to project your product according to the norms, values and custom of the population because when we project our factors have great influence on the product presentation. Implement a unique slogan:
It not only caters products like clothing for both genders, but also shoes, teenagers clothing, accessories and beauty products. Clothing is the key product sold as compared to the rests of the items. In ensuring that business goes well for the company, the management engaged promotions through media advertisements and hand phone apps to let customers view their products easier online and hired people for the various positions in the organisation company example managers, store assistants and supervisors. Though each of them plays a different role, they are an important part to the
Before entering an unknown product horizon, the company will investigate its viability in the product category as well as measure its competitive advantage to other companies in the niche. Under Armour’s unique ability to measure these two important factors has allowed it to create a product base which consumers have high loyalty towards. The Under Armour brand has positioned itself in the high quality, high price, and best available in the market, category. It advertises itself as delivering higher customer value and is therefore capable of charging higher prices for their goods.
Mission of Dacia The primary mission of Dacia is to support its mother company Renault to enter new markets by taking over production and sales in different global markets. In addition to that, Dacia sees itself as an innovative company which is focussed on providing best products at affordable prices. Recently, the company in alignment with its mother company Renault has been pushing to reduce the environmental impacts of automobiles. The program ‘RABLA’ has be initiated to facilitate this goal of the company.
The company’s logo and monogram being seen on their products is something which is easily recognized by every customer. It is not only well known but has a rich history. Louis Vuitton is known globally and has a strong image in Singapore, China, Hong Kong and Japan which are leading financial hubs and individuals with high net worth. Largest luxury brand with exclusivity Traditional craftsmanship is not compromised by Louis Vuitton as these products are made to fine details and of exquisite material, discount and promotion does not happen and defective products are disposed immediately as written in their policy. Louis Vuitton products are highly priced due to superior quality, degree of scarcity and exclusivity.
This is the comparison of the benefits offered by a company's product to its customers relative to the price it asks customers to pay. To do this, companies can influence the value proposition in one of two ways mainly. This can be done through long term brand building. They can also offer a relatively low cost to enhance value. Ultimately, the key is that customers perceive that the product's merits exceedingly justify its price.
Consumer behavior towards Nike products Marketing is collaborating the value of a product, service or brand to customers, as a driving force to promote or sell that product, service or brand. Marketing procedures and skills embrace selecting target markets by carrying out a market analysis and market segmentation, as well as taking into account the consumer behavior and advertising a products value to customers. Marketing is the utmost vital aspect of developing and enlarging your business, and is a speculation that will recompense for itself over and over again. The term “marketing mix,” was first devised by Neil Borden, the president of the AMA (American Marketing Association) in 1953.
== = == Brian Uzzi's paper is an empirical paper that, in many ways, can be seen as providing empirical support for and refining the essential embeddedness thesis made by Granovetter (1985) in Economic action and social structure: The Problem of embeddedness.
The companies in today industry serve a huge competitiveness. Current competitors take advantage of the demands from consumers to earn high profit margins. Fendi is known as a rich brand heritage and is the first global group in luxury product. They are widely recognized for its leathers, furs, watches and bags.
2 0.2 3. Pursue the Government to establish Anti-dumping duties on Chinese product 0.05 1 0.05 4. Internet Website 0.05 1 0.05 5. New production line for fashionable footwear to attract new consumers. 0.1