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Marketing Plan

Essay by   •  March 3, 2019  •  Research Paper  •  4,182 Words (17 Pages)  •  32 Views

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I. EXECUTIVE SUMMARY

Fit4You is a clothing shopping company that shops for men and women.  The store will be owned and operated in San Antonio, Texas but will also service Austin, Texas. The business will be an image consulting company that conducts consultations, fitting and shopping for men and women.  Specifically, it will be looking to cloth the busy professional who doesn’t have the time or dislikes shopping, but still needs to present a certain image for work- and work-related functions.  We also service anyone who has a need for an image consultant or personal shopper despite their occupation. We will get to know our clients, their lifestyle, and what type of clothing fits them best.  Our product is image consulting and customized shopping.  This is based on the client’s needs as a working professional.  We not only focus on the clients clothing needs at work, but also what they require in their time outside the office.  This includes, but not limited to: Social gatherings outside of the office, but still work related, non-work-related social functions, i.e. weddings, and weekend getaways with friends and relatives to name a few.  In conjunction with the services just outlined we will measure our clients to ensure we can get the perfect fit for them.  Although we will be primarily shopping off the rack for our clients, we will outsource a tailor for items that don’t fit our customers perfectly or to their liking.  Lastly, we will conduct consultations with our clients to figure out their style, what clothing items are most needed by them and if their current clothing style is the best fit for them and what they do professionally.  These consultations will continue throughout the duration of our service to clients to ensure we are continually meeting their needs.

II. ENVIRONMENTAL ANALYSIS

Fit4You is an Image Consulting and Personal Shopping company that shops for men and women.  Fit4You is owned and operated by William McCoy in San Antonio, Texas and services both the San Antonio and Austin Metro area. San Antonio and presents a unique opportunity for Fit4You as it has the distinction of having five (5) fortune 500 companies. Austin in many regards presents the same opportunities, there are two (2) Fortune 500 companies in the area as well as many Tech companies. This means there is a market for the company’s service among professionals in the cities and surrounding areas, not to mention anyone who is looking to develop their look and doesn’t enjoy shopping.

  1. The Marketing Environment
  1. Competitive: The top tier image consultants and personal shoppers will target Fortune 500, Fortune 1000 and Global 2000 companies in the area and aggressively compete to gain market share. The last several years have been tumultuous for both image consulting and personal shoppers and the clients they serve. Tough economic conditions and the introduction of new technology have had a significant impact on the consulting industry. The aforementioned has resulted in an overall reduction in dollars spent on image consulting and personal shopping.
  2. Economic: What is the average income of people in San Antonio and the average wage of corporate workers in San Antonio? (https://www.deptofnumbers.com/income/texas/san-antonio/)
  3. Political Forces: N/A
  4. Legal and Regulatory Forces: N/A
  5. Technological Forces: Technological advances have been a dominant economic force changing the competitive landscape of the industry. Over the last few years several Apps have been developed to help the consumer find the best fit in clothing. For instance M Tailor is a mobile app that will better fit you than a tailor. The App guarantees to fit you 30% than any tailor you will find.  Also, in the way of personal shopping there have been many technological advances that have occurred. Many companies now offer the ability to search for items on line or on a mobile app, order them and pick them up at their nearest location. This could be a detriment to our marketing plan and we will have to emphasize the personal touch we offer to combat these advances in technology.  Fit4You will have to respond by adding technology consulting services and personal shopping with the human touch.
  6. Sociocultural forces: In today’s culture many people have limited time to do anything other than work and focus on family commitments. This doesn’t negate that fact that for many professionals their appearance is part of there occupational persona. The fact that family commitments and work are a priority this leaves very little time to shop for needed clothing items. The need to shop is exacerbated by the fact that a certain “look” is need for a person’s occupational persona. Many of these busy professionals don’t have the time to shop much less determine what is the best look and fit for them in clothing. So, given today’s corporate culture combined with family and other extra-curricular commitments Fit4You can do your image consulting and personal shopping.
  1. Target Market(s)

Target clients at Fit4You are the up and coming and well established professional.  The target group is in the age range of 25 to 50 years old.  Fit4You recognizes that individuals requiring our services may be older or younger than our target demographics.   Based on our clients being either established professionals or those newly entering the white-collar workforce our target clientele will be established in the San Antonio zip codes of 78015, 78257, 78266, 78248 and 78004 based on information from https://www.bizjournals.com/sanantonio/subscriber-only/2016/02/12/wealthiest-zip-codes.html which list the wealthiest zip codes in the San Antonio Metro Area.  In the Austin Area we will be looking at the following zip codes 78746, 78738, 78737, 78733, and 78731 which also com BizJournals.com. These zip codes represent the highest number of working professional in the area with a college degree or higher.  These customers tend to be very busy with work commitments and could benefit from the services provided by Fit4You.  These potential clients also have the excess income to see Fit4You as a convenience service that is needed to afford them the opportunity to do other things with their time. In conjunction with the target audience mentioned above, Fit4You is for anybody who needs an image consultant and personal shopper despite their occupation.  

  1. Current Marketing Objectives and Performance

Fit4You plans to present its services in the minds of customers as a convenient, affordable as compared to its competitors, with a large variety of strategic partnerships that add value to services provided and cannot be obtained through other image consultants and personal shoppers in our areas of operation. Fit4Youoffers a service that provides one stop shopping for image consulting to personal shopper that includes getting not only the right look but the right fit for the consumer. The objective of Fit4You is to become the most trusted and well-respected image consultant and personal shopper in the San Antonio and Austin areas. As the business grows by word of mouth, social media, print and television marketing it will continue to expand to the point that it will expand to the Houston and Dallas Metro areas as well.

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