Assignment 2: Part B: Your Marketing Plan

Running Head: PART A: YOUR MARKETING PLAN 1

PART A: YOUR MARKETING PLAN 6

Deli-Wear was incorporated into the business fraternity in 2003 and has since strived to become the number one producer of clothes. Under the capable management of John K. Adams, the company has managed to curve a niche for itself as one of the most dedicated, reliable and efficient producers, wholesalers and retailers of organic fabrics and finished tailored goods. The company produces sports-wear, men’s jeans, women’s tops and children clothes. The company was also recently noted to have started offering custom-made clothes. Its main production site is Seattle while the biggest retail shops are situated in New York.

The company can be described as being in the third phase in regards to the given four product life cycle stages. This is essentially the stage where a product undergoes vast growth in terms of popularity and market demand. It is through such popularity that the product as well as the producing entity slowly gains firm stability after a while. This stage is however volatile hence the need to be dealt with carefully, lest it falls back to the decline stage. Further insight can indicate that Deli-wear falls under this particular stage due to high profit rates that it currently enjoys, alongside the benefits the profits bring the company. Much of today’s success is however chiefly attributed to the very first products of the company which helped it in becoming widely recognized. With a mission of offering the best service and product possible, Deli-wear is on the right track towards economic prowess and firm market establishment.

Also critical in any business venture is the set target market. Deli-wear is no different and it therefore has both its primary and secondary target markets. Identification of target markets is usually a product strategy that entities use in their pursuit for further advancement in terms of market expansion and popularity. In the case of Deli-wear, the company works towards capturing markets that it has not yet captured before. This company basically goes about the process of identifying its target markets through market segmentation. A market segment is a population’s selected section for the purpose of service and product delivery by the respective entity (Kotler, 2008). Companies generally embark on the process of market segmentation so as to break down the larger process into smaller segments on which the entity’s marketing efforts can be concentrated.

The primary target market is usually a company’s selected segment that is expected to have the highest chances of popularity and product sale. In this respect therefore, Deli-wear’s primary market is determined on the basis of demographics and athletic factor. The company’s was initially involved in the production of sport outfits. This therefore means that such sport attires still form a large basis of their production. It then follows that their primary target be based on the varying inclinations of sports, where it mainly targets the persons, entities, organizations and institutions involved in sporting activities (Rancholdet, 2004)

Demographic segmentation is another crucial aspect that the company will have to look into, in order to identify the potential customers and the specific details (Xavier, 2013). This particular issue goes in line with the geographic factors, although the former is slightly keener on the details. Capping it all is the psychograhic segmentation that helps the company in determining the customers who will be drawn to their services because of principles, beliefs of mere status statements.

It is one thing to have great products and another to deliver the products to the consumers. Distribution is all about getting the product to the consumers through the use of the most appropriate channels and strategies (Rancholdet al.2004).It is an issue that plays a crucial role in the marketing mix at large; having a clear objective of ensuring that the products are available at the right place, at the right time and in the right quantities. Environmental influences therefore become a vital aspect of the business venture; where they are looked at as both internal and external influences. These influences play a rudimentary role in the larger business picture, as they have the potential or making or breaking a business.

External market influences are usually harder to control, hence the companies’ harder time to manage them. Political factors are by far the most prominent influences in regards to Deli-wear’s marketing and distribution ventures. Being an organization that was established in a nation governed by the rule of law, the company has to adhere to the government regulations and other legislative issues that pertain to how the company conducts its business (Kotler, 2008).

The economic condition has also been noted as a vital factor in product distribution, where the prevailing economic conditions directly impact the rate at which the company’s products sale. Such impacts on the sale rates subsequently affect the prices set by the company in order to go in line with what the target market is able to afford. Such price and sale-rate fluctuations may usually be of benefit of detriment to the production company. When the sales are high, the company is able to set high prices and still manage to have most of its products being off-loaded (Winner, 2004). The inverse is however detrimental to them, as they have to reduce their product prices in order to balance out the low sale rates. Generally, the external factor determines where to supply and how much to supply; a decision based on the economic situation of the particular market.

Following its progressive growth in terms of popularity and demand, the company has set to work towards even more success in the clothe production industry. This has therefore necessitated the creation of strategic plans and goals that will guide the efforts towards such success (Kotler, 2008).

Currently, the company has both short-term and long-term goals that it plans to strive towards. The short-term goal is generally an internal endeavor, where it seeks to organize its managerial system so as to increase its production rate by tenfold. It is rather clear that the company has experienced an increase in demand; meaning that more products ought to be produced so as to satisfy the customer needs. It is for this reason that the company has the goal of ensuring its internal organization is in the right state so as to increase the production rate with ease (Winer, 2004); This goal also aims at enticing more investors by coming up with detailed strategic plans and outward demonstration of the entity’s proper organization.

Deli-wear also has a long-term goal that it seeks to achieve in the next five years. This particular goal is the stabilization of its price rates regardless of the prevailing market conditions. This is yet another goal that is largely related with the products being produced; where it works towards the increase of their product’s quality. The company aims at mitigating the constant price fluctuation due to the economic conditions. As much as such conditions may at terms favor the company by enabling it to increase its product prices, Deli-wear is more focused on having a standard and fixed product price.

Also vital for any business entity is a SWOT analysis. The analysis helps in assessing the strengths, weaknesses, opportunities and threat facing an entity. Such information is then used in planning appropriate strategies so as to changes the opportunities into strengths and mitigates the weaknesses and threats (Ferrel&Heartline, 2010).

Leadership in Deli-wear has been of much influence to its distribution strategies. Having a well-trained, experienced and noble manager, the company is highly acclaimed for opting for scrupulous and just ways of distributing the tracksuits. This happens to be contrary to the common culture of other organizations which seek alternative ways of distributing products and evading taxation. Its main weakness is the constant price fluctuation due to its weak stability in the industry and wavering economic conditions (Winer, 2004); The Company however has the opportunity to attract more investors with its impressive financial records that indicate a constant rise since its inception. On the downside however, more established entities in the industry pose serious challenges to its goal of firmly stabilizing its product prices.

It can be seen in the concluded discussion that marketing is a vital aspect of the business process and ought to be dealt with properly. The discussion’s focus was on Deli-wear-an entity in the clothe-production industry, which has managed to cut a niche for itself in the aforementioned industry. It continues to deal with the various internal and external factors, and aims at being the number one producer in the industry. If the past fiscal years are anything to go by, it is easy to say that entity’s dreams are valid.

References

Ranchhod, A., Tinson, J., & Gauzente, C. (2004). Marketing Strategies: A Twenty-first Century Approach: Financial Times/Prentice Hall.

Ferrell, O. C., & Hartline, M. D. (2010). Marketing Strategy: South-Western Cengage Learning.

Kotler, P. (2008). The New Strategic Brand Management (4th edition), Kogan Pages Limited, London

Winer, R.S. (2004). Marketing Management (2nd edition), Pierson, Prentice Hall, New Jersey

Xavier, J. (2013). Strategy Implementation.Business 101.12(5).4-7.