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Marketing plan

Extracts from this document...

Introduction

Executive Summary 1.0 Executive Summary Monaco is a women's only shoe store in Cape Town, V&A. Cape Town badly needs an upscale shoe store for women because the current stores have an inadequate selection. Currently, women that need a special pair of shoes often must travel up to Claremont to find the right shoes. Monaco will have an unmatched, extensive selection of different shoes. Generally, the size of Monaco's selection is cost prohibitive due to all the different sizes that must be stocked per style. Monaco has a unique business model that allows them to have an extensive selection at the cost of only stocking one size per style. This is accomplished through a special relationship with the wholesaler so Monaco can receive a customer's needed size within two days. Rush overnight shipping is available at additional cost. While some people might not like a store where shoes cannot be tried out before purchasing/ordering, women's fashionable shoes are different. When it comes to trendy, nice looking shoes, aesthetics are prioritized more than fit. This is evidenced by the fact that women wear high heel shoes with narrow, pointy toes. Clearly these shoes are not comfortable, but they look so nice and that is what counts. Monaco will leverage Holly Heels' extensive knowledge of the women's retail shoe industry to quickly gain market share. Profitability will be reached by month ten and R2,840,000 will be generated in revenue in year three. Situation Analysis 2.0 Situation Analysis Monaco is entering their first year of operation. A comprehensive marketing plan is required to reach profitability and ensure future success. Monaco offers an unprecedented selection of current women's fashions. 2.1 Market Summary Monaco has captured good information regarding their market and knows a great deal about the common attributes of the most prized customers. Monaco will leverage this information to better understand who should be served, their specific needs, and how Monaco can better communicate with them. ...read more.

Middle

R634,980 R689,820 Housewives R219,450 R412,740 R448,380 Subtotal Direct Cost of Sales R557,050 R1,047,720 R1,138,200 4.3 Expense Forecast The marketing expenses will be higher relative to other months during the first four months when Monaco is trying to generate interest in the new store. The expenses will also spike toward the end of the year during the winter holiday season. Monthly Expense Budget Marketing Expense Budget 2009 2010 2011 Advertisements R64,000 R75,000 R90,000 Other R18,250 R20,000 R22,000 ------------ ------------ ------------ Total Sales and Marketing Expenses R8,225 R9,500 R112,000 Percent of Sales 5.91% 3.63% 3.94% Financial Projections 5.0 Controls The purpose of Monaco's marketing plan is to serve as a guide for the organization. The following areas will be monitored to gauge performance: * Revenue: monthly and annual. * Expenses: monthly and annual. * Repeat business. * Customer satisfaction. 5.1 Implementation The following milestones identify the key marketing programs. It is important to accomplish each one on time and on budget. Milestones Advertising Start Date End Date Budget Manager Marketing plan completion 1/1/2009 2/1/2009 0 Holly Advertising campaign #1 1/1/2009 5/31/2009 R22,000 Holly Advertising campaign #2 5/1/2007 7/31/2009 R10,000 Holly Advertising campaign #3 3/1/2007 12/31/2009 R26,000 Holly Advertising campaign #3 3/1/2007 12/31/2009 R26,000 Holly Total Advertising Budget R84,000 PR Start Date End Date Budget Manager Strategic Alliances 1/1/2009 ongoing R18,250 Holly Total PR Budget R18,250 Direct Marketing Start Date End Date Budget Manager Total Direct Marketing Budget 0 Web Development Start Date End Date Budget Manager Total Web Development Budget 0 Other Start Date End Date Budget Manager Securing space in trendy mall 1/1/2009 1/15/2009 R7,000 Holly Total Other Budget R7,000 Totals R109,250 5.2 Marketing Organization Holly Heels is responsible for the marketing effort. Holly will outsource the creative services. 5.3 Contingency Planning Difficulties and risks: * Problems reaching the break-even point due to lack-luster sales. * A break down in the just in time (JIT) ...read more.

Conclusion

Some of the rats die during the tests. Place: * Product placement - You pay a substantial fee to have your new-release model car used by the hero in a soon-to-be-released movie. In the film, the car is shown driving at speeds that are not safely achievable by normal motorists. Price: * Price fixing - is an agreement between business competitors to sell the same product or service at the same price. In general, it is an agreement intended to ultimately push the price of a product as high as possible, leading to profits for all the sellers. Price-fixing can also involve any agreement to fix, peg, discount or stabilize prices. The principal feature is any agreement on price, whether expressed or implied. For the buyer, meanwhile, the practice results in a phenomenon similar to price gouging. * Deceptive pricing - Your supermarket chain is engaged in a price war with a competitive chain. You run a newspaper advertisement showing the comparative prices on similar lines in you stores and your competitor's; the total cost of the basket of products is significantly lower on your list. 'We save you money!' is the headline for the advertisement. Promotion: * Advertising to children - You are launching a range of 'hero' toys aimed at 5- to 7- year-olds. The toys are small and static, but by using lighting and animation techniques in the TV ad the toys appear larger and more involving. You are concerned about the ad, but your lawyers clear it, saying that they could mount a persuasive case that it is just within the regulations for advertising to children. * Sex in advertising - You market men's footwear. Your key target market is men aged 18 to 24, of low to middle socioeconomic status. Your recent outdoor ad campaign shows attractive, large-breasted women posed provocatively with young men wearing your boots and shoes. The ads say nothing about the footwear. Post-testing of the ads show that they are creating excellent brand awareness. ...read more.

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