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MARKETING PLAN
Millennial
Thursday 25th August, 2016
This report was written by the Millennial team of the
Associate Degree of Fashion and Textile Merchandising, RMIT
University, 2016.
Specifically, our response to the brief requires our team to present a range of 15
pieces - a mix of tops (including a must-have tee) and bottoms, a clear and
competitive pricing structure and a suggested visual merchandising approach. Our
team has approached these provisions through product, price, promotion and place
recommendations in relation to the Miss Shop Essentials Capsule Collection our
team has developed.
1 Introduction .......................................................................................................... 6
3
2.5.5 Technological ...................................................................................................... 25
2.5.5.1 Mobile Phone Technology/Mobile Optimised Websites ............................................. 25
2.5.5.2 Pokmon Go/Augmented Reality .............................................................................. 25
2.5.5.3 Online Reputation ...................................................................................................... 25
2.5.6 Competitors ......................................................................................................... 25
2.5.6.1 International Retailers Physical Presence in Australia .............................................. 25
2.5.6.2 European Brands Following Migration Patterns ........................................................ 26
2.5.6.3 Fierce Local Competition ........................................................................................... 26
4 Objectives ........................................................................................................... 31
4.1 Financial Objectives................................................................................................ 31
4.2 Marketing Objectives .............................................................................................. 31
4.2.1 Product ................................................................................................................ 31
4.2.2 Price .................................................................................................................... 31
4.2.3 Place ................................................................................................................... 31
4.2.4 Promotion ............................................................................................................ 32
7 Conclusion .......................................................................................................... 47
References................................................................................................................ 48
Appendix................................................................................................................... 51
5
1 Introduction
This Marketing Plan report has been written by our team (Millennial) to be presented
to our mentor of the Industry Project and to our industry partner - Myer Miss Shop.
The following report discusses and analyses the current market situation with an
overview of the TCF market, target market, product and price situation, direct and
indirect competitors, distribution channels and the macro environment. Additionally, a
situation analysis is provided highlighting various strengths, weaknesses,
opportunities and threats for Essentials with an examination of weaknesses and
opportunities for the product category.
Taking all factors into consideration, the report addresses our teams marketing and
financial objectives with recommendations for product, price, promotion and place to
address and provide answers to Myers brief. Furthermore, a six month buy plan,
detailing an estimate of the volume and value of the product category, has been
included, in addition to a promotional budget based on our recommendations.
However, our team acknowledges that there are limitations to this report. This
includes not having access to specific financial details and a full understanding of the
supplier capabilities (in regards to our budget plans range decisions). Our location
has hindered our ability to access Myer stores outside of Melbourne, thus limiting our
analysis and perception of Myer practices. Additionally, our primary research was
limited due to the size and convenience of the sample; therefore, the findings from