The paper "Belle Career Fashion Marketing Strategy" is a marketing case study. The marketing strategy is aimed at helping Belle Career Fashion achieve its marketing objectives and hence become one of the largest career fashion dealers in Australia. As such, it is hoped that the marketing strategy will help the company achieve the following objectives; To achieve the generation of a gross profit of $600,000 in the company’ s first year of operations To sustain a 30% annual growth rate every year (Marian, 2013) To achieve a 2% market share within the first three years of the company’ s operations and a 1% increase in the market share from the fourth year onwards. It is thus hoped that the marketing strategies detailed below will be vital in assisting the company to achieve the above objectives and also assure the company of its survival in the market. Product strategy As stated above, Belle Career Fashion’ s product portfolio will include career fashion clothing for both career men and career women.
In conjunction with its suppliers, the company will ensure that it designs products that complement the body shapes of the wearers.
In addition, the company will endeavor to incorporate consumer feedback on the salient features of its products. The company aims at offering products that give our customers the assurance that they look good and feel beautiful in Belle career fashion clothes. The company’ s clothes will be available in various colors depending on the customers’ tastes. In other words, the customers will be allowed to order clothes that fit their descriptions and each product sold to the customer will have been tailor-made in accordance to the customer’ s specifications. This is what will differentiate our products from those of our competitors.
In addition, our products will be differentiated from those of our competitors by their level of innovativeness (Ferrell, 2010). The company in conjunction with designers will maintain the high level of innovation and hence ensure that Belle Career Fashion remains a fashion icon in Australia and that every new fashion in the market first originates from Belle Career fashion. Our products will also be differentiated from those of our competitors on the basis of their quality. Belle Career Fashion will ensure that its offerings are of very high quality ensuring both durability and fashion (Manlow, 2011).
The belle career fashion labeling, as well as our packaging, will be such that it enhances customer loyalty and exudes the value in our offering. Our product strategy will thus aim at providing products that will be easily recognized as “ Bella Career Fashion” brand. We will also offer guarantees of up to 45 days to our customers to return products they don’ t like provided they return them in good condition. Where the product is faulty, customers will be allowed to return them in exchange with that which fits their desires or preferences. Pricing strategy As indicated above, the Australian clothing and apparel industry is a highly competitive industry.
As such, our fashion products will bear the competition in mind. As such, we will price our products competitively. Research has indicated that most companies mark their products by 50%. This is the strategy we will follow. Our pricing strategy will also be aimed at ensuring that we break even at 50% of our sales revenue. It is also worth noting that in such a competitive environment, discounts play a very big role in attracting and retaining customers.
Most of our competitors have also been found to offer discounts to their customers with the aim of attracting and retaining as many customers as possible. In this regard, our company will offer discounted coupons at the rate of 20% for every purchase above $300. During promotions, however, the company will be offering discounts at 25%. Those using a credit card to purchase items from us will also attract a 5% discount (Pahl and Mohring, 2009).
We will also establish a Belle Career Fashion credit card and when a customer acquires one; his first purchase will attract a 15% discount. Those with our company’ s credit card and everyone else who makes a purchase worth more than $500 will be automatically enrolled in our reward points program where they will be issued with purchase vouchers of differing amounts on attaining certain points that they can use for purchasing from our stores. This is aimed at increasing their loyalty while attracting as many customers as possible.
It is, however, worth noting that despite the above discounts, our products will be priced such that we gain a 100% on every sale (Lamec, 2011). For an instant, our pricing will ensure that a product purchased for $70 is not sold at less than $140. Though this pricing is slightly above the pricing of most of our competitors’ , we are optimistic that many customers will find it worth owing to the fact that our products will always be tailor-made to suit the customers’ tastes and preferences as stated above.
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