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Marketing Plan for Impression Clothing Company

Essay by   •  September 9, 2012  •  Research Paper  •  4,454 Words (18 Pages)  •  1,691 Views

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Marketing Plan for Impression Clothing Company

Contents

1. Executive Summary 3

2. Situation Analysis 3

2.1 Market 3

2.1.1 Demo Graphics 3

2.1.2 Geographic 4

2.1.3 Buyer Behavior Factors 5

2.2 Market Needs 6

2.2.1 Customer Profile 7

2.2.2 Competitive Differences 7

2.3 Market Trends 7

2.4 SWOT 7

2.4.1 Strengths 7

2.4.2 Weaknesses 8

2.4.3 Opportunities 9

2.4.4 Threats 9

2.5 Competition Analysis 10

2.5.1 Bargaining Power of Supplier 10

2.5.2 Threat of New Entrants 10

2.5.3 Threat of Substitutes 11

2.5.4 Bargaining Power of Buyer 11

2.5.5 Competitive Rivalry 11

2.6 Marketing Research 11

3. Marketing Strategy 12

3.1 Mission 12

3.2 Marketing Objectives 12

3.3 Financial Objectives 12

3.4 Target Markets 12

3.5 Positioning 12

3.6 Strategies 13

3.6.1 Enlarge Market Share 13

3.6.2 Company Layout 13

3.6.3 Pricing Strategy 13

4. Financials 14

4.1 B/E Analysis 14

4.2 Sales Forecast 15

4.3 Income Statement 16

5. Conclusion 16

6. References 17

Executive Summary

China contains the world's largest group of consumer of clothing (Paley, 2006). The Impression Clothing Company is the leading clothing company in apparel industry in South of China.

Recently, the company intends to enlarge its national and international operating business. This is a marketing plan for Impression Clothing Company. Based on relevant market research, the plan gives the status of apparel industry both in China and the whole world and analysis the Impression Clothing Company's competitive environment. Combined with the operating characteristics of China's foreign trade clothing company, the plan also summarizes this company's market development situation as well as its target customers (Bradley, 2005).

The plan also includes the summary of the macro and micro environments of the company and analysis the marketing environment. Also, the plan provides the opportunities and challenges faced by Impression Clothing Company under this marketing environment and further points out its future development direction.

Based on actual market situation, the plan provides pricing strategy, promotional strategy, day-to-day operations management strategy and other aspects of specific marketing strategies.

Finally, the plan makes a conclusion that in order to achieve long-term sustainable development in the clothing market, the company should obtain differentiation characteristics and clear competitive advantages. Also, the company should implement right marketing strategies.

Situation Analysis

Marketing is managerial and social process to obtain what the needs and wants of individuals or groups by creating and exchanges valuable products or services with others (Paley, 2006).

Market

Demo Graphics

The company mainly faces to two markets, one is Chinese local market, and another is foreign markets including the U.S., the EU countries, Southeastern Asia, and Africa etc. As the clothing is a necessity in people's life, thus, when discussing the growth and sales of the apparel industry, it is necessary to analysis the development situation of national and international economic (Luther, 2011).

In China, with the rapid development of economy, the national per capita disposable income has always continually been improved. According to China National Bureau of Statistics, from 2005 to 2009, the per capita disposable income for China's urban residents had been risen 30%. And the per capita disposable income for rural residents had been risen 12.17%. Accompanied with increased economic development and per capita income, the retail sales of China's apparel industry has received rapid growth. In the future, with China's sustainable and rapid economic development, the demand from apparel customers is expected to continue to maintain a rapid growth (Schnaars, 1998).

On the other hand, it is estimated that there will be a bright future for foreign market of Impression Clothing Company. Since 2010, China's total export amount of textile yarn and fabrics products had reached $77.1 billion and with 28.4% growth compared with last year. On the other hand, the export amount of clothing and accessories has reached $129.5 billion with an increase of 20.9% compared with last year. This means that with the gradual increase of the global economy, the demands for textile and apparel products in the international market have been increased rapidly (Bradley, 2005).

Geographic

When selecting the target market, the following conditions need to be considered: firstly, the market should have a certain potential for development; secondly, the market has certain purchasing power which can bring certain sales profits; and thirdly, it is necessary to analysis the competition situation and competitive trends of the market. If the competitors have controlled all the industry, it is unnecessary to enter the competitive environment (Schnaars, 1998).

Based on the above conditions, the target market for Impression Clothing Company

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