MKT500 Assignment for Creative_Writer

Place/Distribution

During the year, the company will open retails store in different location in the Triangle of North Carolina and attend various trade shows in various states of the country. We will also introduce online presence and focusing on the team members for product promotion. This marketing strategy will see Lamon Clad House identifying and establishing its retail store in seven new locations in different cities and different states with the hope of reaching seven states. It will attend trade shows within North Carolina every month beginning with the month of December. This will be followed by attending other trade shows that covers various states, especially the adjacent state such as South Carolina, Virginia and Washington D.C.

The distribution channel strategy adopted by the company will give the company a good platform to expand its customer base. The company can first compare the cost of dealing their products through indirect channels of product distribution.

The company will also have to consider factors such as support and control in its strategy of product distribution. These can be done by appointing an executive manager to work with the distribution of the products and thus be able to monitor the performance and also identify their support needs. Another option is to develop efficient marketing programs of support to meet several channels of product distribution.

Another option of Lamon Clad House is to operate training programs for its distributors and therefore improve their product and the marketing knowledge and thus enable the distributors to deliver high standards of services to the clients.

The company will also have to identify the various types of customers for its products. These will include the company’s largest group of customers or customers that demand high quality products from the company. The company will thus be required to use channel partners in dealing with increasing numbers of customers.

Promotion

The company’s main marketing goals for promotions are offers, and giveaways. The goals are; creating brand awareness; this is one of the most common goals of product marketing strategy. It is the number one goal for product marketers. This is because it has high value and purposeful content that can help in showcasing the company’s expertise.

Another goal of product promotion is the loyalty to brand. Loyalty to brand can be observed in terms of the company’s productivity. A product can command a huge customer following and further develop and increase the customer base.

Another goal of product promotion is customer education. By educating its clients on the products, the company will achieve its objectives. The company can educate its potential customers in order to market the product successfully.

The other goal of the company in promoting its product is to engage the customers. A company can engage its customers through publishing of articles on the products, that responds well to the comments and customer queries in its existing customer base and also the potential customers. These initiatives will give opportunity to the company to connect with its customers.

The following are action steps that are used to move ones plans forward; first one is marketing of the company’s product by the company’s marketing teams, another step is increasing the customer base, this can be done by marketing the product in new areas. The last step is improving the products quality and brand.

Social Media

Lamon Clad House will use online marketing to reach many potential customers who are present in different parts of the country as the company seeks to spread its brand in many parts of the country. It will include social media advertising to popularize the company and its products. Also, the company will be motivating employees and training them with the goal of improving their ability to offer better services and draw more clients to the business.

Provide the following Marketing Strategy information:

Competitors

Classify the company’s major competitors as inter-competitors or intra-competitors with strengths and weaknesses:

Inter-competitor

African Clothing's Liberty & Services: The company is not well known in the business. Their headquarters are in Nashville, African Clothing's Liberty & Services is base in Charlotte, NC. There is not a physical headquarter due to the fact that she operates from an house and website. “It was founded in Charlotte in 2010 and presently only operates Charlotte, NC.

Strengths: Products is imported directly from Africa, Loyalty from African customers living in Charlotte, NC.

Weaknesses: Products are expensive, Small inventory of product, No brand loyalty, No nationwide advertising of product, marketing and promotions, Company is only focusing on one group of customers.

Develop the differentiation strategy in relation to the closest competitor

For all customers, Lamon Clad House will present the best customer service. It will provide a variety of clothes that seeks to serve the interest of the diverse population. Lamon Clad House will be the company to guarantee fashionable African clothing for the people wanting to get in touch with the African wear.

Lead or Follow

Human preferences are not likely to remain the same in all situations because the preferences of a group are affected by different factors. According to Bodur, Aribarg& Arora (2002), the preference of a group member is likely to change in the process of the group decision-making. The scholars identify that the member will update his/her preferences because of being exposed to the preferences exhibited by the other members of the group in the process of group discussion. As a result, the marketers should be introducing initiatives that aim at capturing the preferences of many people to gain the benefit of their influence on other people who they interact with during their daily activities. A product that is preferred by many people will be having many new customers because of the influence of the existing fans of the product or brand. Marketing strategy should emphasize on satisfying the existing clients and gaining their loyalty as a way of attracting more customers through social interaction (Bodur, Aribarg& Arora, 2002).

Specify two (2) social media and/or media tools that you would use as you develop you plan: