Reference no: EM131458621
Read the rest article, write In a paragraph, discuss your (marketing mix tactics) approach to pricing and incentives. Be as specific as possible.
One page double space. No reference. No outside resource.
Primary Market Goals
We are committed to developing a company that sells clothing and donates a portion of the proceeds to people affected by social issues or natural disasters. The first primary goal that our company has is a projected five-year sales target of selling 15,000 articles of clothing by the year 2022.
This means that we need to raise product awareness in our selected target market. Another way that we can increase sales to reach our projected goals is by displaying our products in large retail clothing stores such as Macy's. The second primary market goal we have is that we would like to collaborate with a variety of nonprofit and for-profit organizations.
This will help to lower unit costs by receiving some type of donation or collaboration from these companies, with the possibility of co-branding the items within the package.
Target Market
The demographics that we are hoping to obtain market share from are men and women of any age, preferably from the middle class.
Products will be directed towards people who are looking for a stylish brand and one that helps different social causes and natural disasters. For example, if a natural disaster occurs, it would be worth pushing the line of clothing that we have more aggressively to a broad, all-inclusive demographic.
The value that we will provide to our customers will come from both the product that we sell and through the work we do to provide everyday necessities to people in need around the world. The premium clothing we sell will be of high quality and represent a brand that everyone knows is working to better this world.
As for collaboration, our brand will strive to provide a premium product to customers who support our cause which requires us to work with manufacturers who are capable of producing such products. Also, co-branding or just plain goodwill donations from companies could be an effective way for us to reduce the overall cost of the packages that we will distribute to relief efforts.
For competition, we will have to compete with already prevalent clothing producers such as Nike, Sonoma, American Eagle, along with the value brands that are offered by large retailers. With the value that we provide by donating a portion of the proceeds received from sales to social issues and natural disaster relief, we also make the brand ideal for purchase around unfortunate world events to gain an advantage in times that are directly relevant to the causes that we support.
Value Proposition
Our brand is a way for people to not only be involved in supporting a brand, but also supporting a social cause that our company is built on. The clothing that we sell will be of a high-quality fabric, that way people will be more likely to purchase it.
People are inclined to purchase something if it benefits them and with our product it gives the satisfaction of knowing what they did is positive to the world. Other companies that have the same ‘one for one' business style are TOMS shoes, Warby Parker glasses, and Blanket America.
People enjoy and are willing to spend their money supporting organizations that benefit others because we are all affected by unfortunate events and helping one another spreads happiness among the world.
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