MARKETING PLAN PRESENTATION

The feedback was generally positive and it pointed out several areas that I need to improve on in order to achieve more clarity and also build up on certain sectors in my work. Specifically, the instructor explained that I have to add more information on my introduction part so that one can easily understand the description and location of the company Mo’Mink Apparel. I also need to build on my mission statement while capturing the aspects of customers, employees, markets, and technology, just to mention a few. Other aspects that need to be improved on are the environmental analysis and SWOT analysis concepts. I will use the feedback to improve my plan by correcting all the mistakes that have been pointed out as required. I will also read more and build up on the gaps that the feedback has already pointed out in my work. Finally, I will include any additional knowledge, research, and suggestions that have been made in the feedback concerning my plan.

Mo’Mink Apparel Pricing and Distribution Strategy

The Company Mo’Mink Apparel will eventually be famous for producing valuable, quality, and long-lasting sports attire. Therefore, the pricing for its products will be associated with the value of each product designed. This is because, in the Sports Arena, most athletes go for strong and quality products that will serve their needs despite its pricing. Thus, utilizing a value/quality-based pricing strategy will be best for the growth of the company. Distribution of Mo’Mink Apparel products will be through retail stores that buy the products and the Company’s self-owned stalls. Distribution to other countries will also be done through shipping programs where customers are allowed to order and pay for the products via online marketing sites created by the company (Denman, 2016). This will be the most ideal distribution strategy given the large local and potential international market that Mo’Mink Apparel’s products will have. It will also allow the company to grow and gain profits locally, regionally, and even globally.

Relevant Integrated Marketing Communications Plan

Communication about Mo’Mink Apparel products will be done through advertisements in TV Commercials and print media and also through customers who we will give our products for models, sports figures to wear. For instance, sports teams. First, all products will contain the company’s logo such that whenever consumers see the product being used, they will be motivated to purchase it due to its good quality. TV commercials will also portray famous sports teams using Mo’Mink Apparel products. Towards the end of each TV commercial, information on how to purchase the products will be provided for potential customers. The same information will also be provided on any print media that handles MoMink’s products. Online advertisement will also be done on the company’s official social media pages where links to important sites such as price lists and how to purchase the products will be provided. With this type of integrated communication plan, Mo’Mink Apparel will be able to reach the potential local, regional and international customers.

Public Relations, Sales Promotion, and Personal Selling Plan

While operating in the market economy, Mo’Mink Apparel will promote public relations by setting up special awareness events such as supporting local school and education institutions’ teams and displaying its products in the process. The company shall also work together and support community initiatives that are promoting sports activities financially. The sales promotion will be achieved by providing the company’s retailers and wholesale distributors with a discount once they purchase a specific quantity of MO ‘Mink’s products. The use of end month sales promotions (Rice University, n.d.) in the retail stores will also be implemented where customers will be allowed to purchase the company’s products at discounted rates. For example, two T-shirts at a price for one. During exhibition shows, the products will also be sold at a lower price. Personal selling will be done by approaching potential clients such as big sports teams and also small department stores explaining to them the benefits of purchasing the company’s products and how Mo’Mink Apparel will give back to the communities.

Online and Direct Marketing Plan

Mo’Mink Apparel products will be marketed online through the company’s official social media pages including Facebook, Twitter, Instagram, Pinterest, and through blogs managed by MoMink’s staff. These sites will contain information on how to purchase and pay for products by potential customers. Willing players who utilize the company’s products such as T-shirts and sports shoes can also take photos with the attire and post it online while tagging Mo’Mink Apparel social media sites in the caption. Direct Marketing plan will be mainly achieved through TV commercials which will be aired on several TV channels. Other ways that the Company will market its products is through promotional shows, especially during sports seasons. Mo’Mink Apparel marketing staff will also identify potential teams and models that might use its products and send them an email (Rice University, n.d.) that contains quotations of the product’s usefulness and prices.

Social Responsibility/Cause-Related Marketing Plan

To ensure that the Company is socially responsible, it will support school teams within the United States through funding them for competitions and providing them with sports attire for free. Because talented athletes may be found in schools, Mo’Mink will offer to financially support the education of such athletes, especially if they come from middle to low-income households. These athletes will also be supported to join teams of their interest once they grow up. Mo’Mink Apparel will also partner and host various sports events that are organized within its vicinity. Through participating in other non-sport activitiesMoMink will continue implementing its social responsibility goals. These activities may include tree planting, cleanups, medical camps, and rallies aimed at creating awareness about certain pressing issues affecting society.

Sustainability and Monitoring of Effective Marketing Plans for Mo’Mink Apparel

All the above-discussed marketing plans have the potential to make Mo’Mink Apparel grow, reach out too many customers, and establish a positive impact in the world’s market. However, not all of them will generate positive results. Therefore, it is important to establish an effective sustainability and monitoring program for the company. This will enable Mo’Mink to identify what is working for them and what is not and thus, make appropriate decisions on where to invest more cash and improve in areas where Mo’Mink is lagging behind. As discussed by Beamish & Ashford (2005), monitoring of market plans will be effective if there is a smooth and continuous flow of information about the product reviews, quality, and quantity that has been purchased following the implementation of various marketing plans. This would be good for Mo’Mink Apparel given the fact that its operations are ready to go on a global scale. Therefore, it requires good communication between marketing managers of all its outlets for sustainability and monitoring to be achieved.

Just like Kurtz, Mackenzie, & Snow (2010) and Dibb & Simkin (n.d.) explain, it is important to have a time schedule for each marketing plan, say five years. This will allow a company to generate enough data that will be monitored analyzed so as to identify effective marketing plans that can be sustained alongside the business. Dibb & Simkin further explain that the first step in monitoring is to identify whether the said objectives and goals were met through the marketing plans that were implemented. If this is not met, the managing team should then come up with strategies to improve these plans and thus achieve their sustainability. It is also important to monitor the satisfaction of customers because they are the direct users of any products sold. A bad review would mean a drop in the market share. Therefore, with regards to Mo’Mink Apparel., monitoring of marketing plans and addressing all important sectors is important as it will allow the company to formulate an effective marketing plan that is sustainable even in the future.

References

Dibb, S. (n.d.). The marketing planning workbook: Effective marketing for marketing managers.

Thomson Learning.

Elyse Flynn Meyer (2019). 4 Steps to Develop an Integrated Marketing Communications’