Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. This presentation describes the Marketing Strategy to be implemented by Chocolate Clothing, Philippines. Mahogany Western Wear's goal is to provide apparel to the under served market of the African-American cowboy community.The major western apparel retailers have left a hole in this market by not providing a larger assortment of sizes. Our marketing programs will consist of the distribution of 5,000 color flyers two weeks prior to our grand opening event. For the more full-bodied individual seeking western apparel, Mahogany Western Wear will offer name brand western wear in a larger assortment of styles and sizes that aren't always readily available in the mass western apparel retailers. We recommend using LivePlan as the easiest way to create graphs for your own business plan. We recommend using LivePlan as the easiest way to create automatic financials for your own business plan. Start your own business plan »Your business plan can look as polished and professional as this sample plan. Bplans is owned and operated by Palo Alto Software, Inc., as a free resource to help entrepreneurs start and run better businesses. Market segmentation is dividing a broad target market into subsets of consumers who have common needs and applications. Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications for the relevant goods and services. One of the main reasons for using market segmentation is to help companies to better understand the needs of a specific customer base. Often, dividing consumers by clearly defined criteria will help the company identify other applications for their products that may not have been obvious before. Market segmentation strategies that meet these criteria can cover wide range of consumer characteristics. In most scenarios, there will be at least a few established customers who fall into more than one category, but marketing strategists normally allow for this phenomenon. Along with playing a role in the development of new marketing approaches, market segmentation can also help a company identify ways to enhance customer loyalty with existing clients. Market segmentation is not only beneficial to the manufacturer or retailer, but can also have benefits to a consumer as well. When the market segments that are identified are too narrow, it may be difficult for a company to be profitable. This is good, clear information but they should add not just about advertising, but about the product as well. Understanding how a given group perceives and reacts to certain types of advertising is key in reaching that group with a product.

Our intention is to gain 80% of this market share by focusing on our niche positioning, neighborhood location, brand that we sell, southern hospitality and special promotions. We base the product lines that we carry on their reputation and quality as western wear apparel.
This will allow us to focus directly on our target customer while still being conservative with our advertising dollars.
With each purchase the software will record and maintain in its database the customer's name, address and purchases. We expect sales to start off conservatively and increase extensively during the Christmas holiday shopping season and during the months of The Houston Livestock Show and Rodeo.
The financial sales forecasting tool is very intuitive and makes writing a business plan more fun. With 500 complete sample plans, easy financials, and access anywhere, LivePlan turns your great idea into a great plan for success. Depending on the specific characteristics of the product, these subsets may be divided by criteria such as age and gender, or other distinctions, like location or income. Mass marketing assumes that all customers are the same and will respond to the same advertising. These revelations often help the company target a larger audience in that same demographic classification, improving market share among a specific base.
In fact, the overlap in criteria among consumers often leads to additional segmentation and requires adjusted marketing strategies. As part of the process of identifying specific groups within the larger client base, the company will often run surveys which encourage customers to suggest ways of improving the company's products or services.
People in a particular market segment may get special deals on products as the company focuses on that group, or find that those products are available more widely.
A great deal of research often needs to be done to correctly identify those subsets that are most important for a company, and this takes time and money. Niche marketing can work for some industries, but if the tastes of that subset change or a stronger competitor enters the field, a company that has focused too much on the one segment can lose its customer base quickly.
For instance, people aren't usually drawn to rudeness, but an earnest courteousness is always appealing. We are happy to share these insights by having clients post their findings on this blog and today present analysis on the luxury retail market from PM Digital Research.Despite ongoing volatility in the stock market and global economies, consumers are once again paying for luxury items, even as some brands raise prices. A press release kit will be sent to all major media outlets in Houston, TX highlighting the grand opening of the first African-American owned western wear apparel retailer in the city. Mahogany Western Wear has planned for a rate of growth at 15% for the first year as we build name recognition and status in the community.
Marketing campaigns can then be designed and implemented to target these specific customer segments.

By looking at ways in which potential customer groups are different from each other, the marketing message can be better targeted to the needs and wants of those people.
Segmenting the market can also serve to identify smaller groups of people who make up their own, previously unknown subsets, further improving the overall efficiency of the company's marketing efforts. A marketing plan that targets people who fall into several groups — like women over 30 who earn a high income, for example — may be more successful than one that focuses on just one limited characteristic. This may lead to changes in packaging or other similar cosmetic changes that do not necessarily impact the core product, but sometimes making a few simple changes in the appearance sends a clear message to consumers that recognizing their needs is as important to the company as making sales. When a company responds to consumer feedback, it can mean that those people get changes in composition or packaging that better meet the user's needs. Once the key subsets are identified, different marketing messages usually need to be developed for each. Targeting smaller segments also means that potential consumers outside of those groups may be ignored and their business lost. The accents and attitudes of the newscasters tend to be well-to-do or sometimes more casual than they would be elsewhere.
In the second and third year we look to see an increase of revenue of 20% as we gain a larger percentage of the market share and increase our customer base beyond the southwest part of the city.
Some of the potentially most powerful variables by which to segment a market are behavioral ones, including social class, lifestyle, and interests. This demonstration of good might go a long way to strengthen the ties between the consumer and the producer. In addition, changing the appearance of a product based on which segment it is being sold to adds to the production costs.
Facebook “like” counts for luxury brands have seen tremendous growth over the past year, with most brands more than doubling. Dior “likes” grew over 1,000%.Overall, the study finds that successful luxury brands are striving to provide consumers with a consistent brand image across channels. Supported by engaging content, video and events, luxury brands can capture a real-time experience, unlike that of offline media, and drive sales demand within a consumer’s shopping event.To download a complete copy of the 2011 Trend Report for Luxury Brands Online, click here. Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.

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