GLOOVY CLOTHING, INC. MARKETING PLAN 14
GloovyClothing, Inc. Marketing Plan
Gloovy,Clothing Inc. Marketing Plan
GloovyClothing, Inc. is a small, family-owned, retail clothing industry. Itmanufactures baseball caps, fleece jackets, t-shirts, vests amongothers. These attires are applicable in activities such as mountainclimbing, skating, surfing, horse riding, and kayaking, bicycling,football, among others. Every product shows off the corporationslogan either on its back or in front. The company slogan is, “GoPlay Outside.” Currently, it is in its first year of transitionfrom its second generation to third generation. The corporationproduces and sells clothing and other related components. Theindustry manufactures men and women attires that are applicable forhot and cold seasons. The corporation is located on the SouthCarolina and near a town. It is also planning to open other branchesin the next five years to maximize its profits. In addition, GloovyClothing, Inc. plans to explore for opportunities for online sales.For the next ten years, Gloovy Clothing, Inc., Inc. can increase itsdistribution and offer the best products hence, winning more newcustomers.
Despiteten years of its existence, Gloovy Clothing, Inc. Corporation hasbeen experiencing various problems since its foundation. Anevaluation of the corporation internal strength, weakness,opportunities, and threats (SWOT) serves as the foundation for thismarketing plan and strategic analysis. This plan focuses on GloovyClothing, Inc. growth strategy, and gives suggestions of the possibleways to build a good customer relationship.
Everycompany or business has a marketing objective that it uses to measureits performance before taking a corrective action (Cromie, 1995).Currently, the Gloovy Clothing, Inc. is debt free except for themortgage on its facility. One of its objectives is to clear all thebills for the mortgage. The corporation tends to sell many productsin the coming years with the aim to make huge profits.
Thisyear, the Gloovy Clothing, Inc. marketing objectives includesincreasing both profits and revenue to approximately 10% from lastyear. In addition, the revenue should exceed $5 million, and ittargets a profit of more than $2.1 million. The corporation also aimsfor a gross margin that is higher than 70% and a net income of morethan 10% of its sales. Further, the corporation looks forward toworking hard to establish it as an expert in producing sportsclothing. This means that it will work hard and bring major impactsin business sectors to the extent of been recognized in trade pressand other major events in the field of international market. Finally, the Gloovy, Inc. objective is to maintain its brand name.Although the corporation has maintained this name for the last tenyears, it is still their objective to maintain it in the future.
Atthis stage, Gloovy clothing, Inc. research is mainly secondaryresearch by the use of media, trade press, and internet. Thecorporation intends to market its products through these ways, and ithope it will be effective. The GLOOVY, Inc. will cover two mainelements of market research:
Channel marketing. This is whereby the corporation researches on the trends in channel distribution, major competitors, emergence of new channels, economics, and major fast food producers within the South Carolina.
Manufacturers. This is whereby the corporation will conduct research on the market manufacturers to discover the market trends and developments, and other competing corporation.
GloovyClothing, Inc. is dedicated to providing clothing products to thecitizens of South Carolina. By focusing on the commitment to offerthese products, Gloovy, Inc. has effectively implemented a strongmarketing strategy in a diverse marketplace. The target market forGloovy Clothing, Inc. is the active consumers who are between theages of twenty five to forty years. These people are active insports, hiking, rock climbing, figure skating, in-line skating, horseriding, kayaking, bicycle riding, and other such activities. In otherwords, Gloovy Clothing, Inc. targets people who are active in outdooractivities. Nevertheless, the corporation does not mean that peoplefrom the above group are the only customers any other person willingto purchase has the right to do so (Cromie, 1995). In addition, thecorporation also targets well-educated and successful individualsthat are either single, married, or raising children. For a parent,the corporation also hopes that they will purchase some clothing fortheir children. Commonly, these are people with household incomeranging from $50000 and $12000 annually. In regardless of theircomfortable income, these customers opt to be price conscious and arelikely to seek good values for the products they purchase. GloovyClothing, Inc. has a goal to expand to other parts of the Carolinasuch as North Carolina and North West of Carolina. Therefore, this isyet another future market target in these areas.
TheSWOT analysis comprises of an analysis of strengths, weakness,opportunities, and threats in the corporation. Normally, Strengthsand weakness are internal attributes whereas opportunities andthreats are external attributes.
Ina marketing plan, strength refers to the core competencies or thecompetitive advantage that gives a company added advantages inmeeting the needs of its customers (Cromie, 1995). For the last fewyears, Gloovy Clothing, Inc. has built impressive strengths, as wellas opened new opportunities. Its founders, brand-loyal customers, andits management place the corporation in an excellent position for itto grow and expand. The Gloovy Clothing, Inc. founders understood thetarget market and product and have passed the information to the nextgenerations. In addition, the Gloovy Clothing, Inc. has achieveddistribution in various markets with quick acceptance. That is,customers in the markets easily accept its products. In rare cases,customers complain after they purchase products from Gloovy Clothing,Inc. or return the products. Further, the corporation has managed toexist with very little or do debts at some times. This has alwaysgiven it a great chance to grow and expand. In addition, thecorporation always works with one manufacturer to ensure maximumquality control. The corporation also has a small size of staffmembers who are always dedicated to working hard and promote thecorporation. They are also in good relations with their clients andare quick to serve them. Lastly, the corporation has severalinnovative production methods that provide new designs in clothing.Every year, the corporation comes up with new designs for all typesof clothing.
Weakness,in a marketing plan, refers to the limitations that a corporation hasin implementing and developing a marketing strategy (Brooksbank,1991). As much as Gloovy Clothing, Inc. has several strengths, italso has some weakness. Firstly, the corporation comprises a highlycentralized management hierarchy. This means only few people have themanagerial knowledge. This limits the chances of creativity andgrowth. Since the corporation belongs to a family, the personin-charge may lack the zeal in the corporation or managerial skills.Secondly, in some cases the business tends to be seasonal. Duringholidays, the business tends to perform well because people are moreinvolved in out-doors activities. During other seasons, people arebusy, and they have no time for such activities. Thirdly, very fewpeople in the other parts of Carolina are aware of the GloovyClothing, Inc. Though the corporation has marketed itself in thearea, it has not fully established itself outside this locality.Fourthly, the designs of clothes keep changing now and then hence,the corporation needs to keep updating its staffs. This accounts foran extra cash to cater for the training and buying new equipment.Likewise, the Gloovy Clothing, Inc. spend much money while conductingresearches online or by visiting other parts to learn about newdesigns. Fifthly, at present, the Gloovy Clothing, Inc. does notstrong contact with other companies producing the same products.Further, Gloovy Clothing, Inc. is reactive rather than assertive inmarketing efforts. This is because the corporation largely relies onthe word-of-mouth communication to pass information within thecorporation. However, the corporation is planning to use other formsof communication such as internet to pass information. Lastly, theGLOOVY Clothing, Inc. facilities are currently crowded. There is noroom to expansion, adding more equipment or hiring more employees.
Opportunitiesare the favorable conditions that could results to high rewards in anorganization if checked with much attention. Gloovy Clothing, Inc.has evenly distributed its retail shops all over South Carolina.However, the corporation has a great chance to open other branchesaround the globe. The globalization creates an excellent opportunityfor the corporation to establish new clients locally and globally.The firm has the capability to reach more consumers via website.Nowadays, most consumers are buying most of the products online. Ifthe Gloovy Clothing, Inc. can advertise their products online, itmeans Secondly, the Gloovy Clothing, Inc. loyal consumers are likelyto purchase any product that the corporation produces. Indeed, theyhave demonstrated it in the past years. Thirdly, the corporation hasan opportunity to grow faster than the current sales. Likewise, theconsumer demand for the corporation creates more demand forinnovative products. Lastly, the technological advances have not onlybrought great efficiency and increased strength in the businesssectors. Personal computers have created a common place wheremanagers gain information and more ideas about business.
Threatsare the barriers that prevent an organization or a business to reachits objectives (Brooksbank, 1991). Just like any other organization,Gloovy Clothing, Inc. has also faced several threats. Firstly, othercorporations that are emerging produce the same products as GloovyClothing Corporation. This creates competition in the market and thecorporation fails to enjoy its market as it did previously. Secondly,most of these clothing from Gloovy Clothing Corporation are genericproducts. The knowledge, technology, and equipment used to producethis are minimal. Therefore, the entry of new competitors is a greatthreat. Further, there are minimal controls of theft of the tradesecrets through unauthorized personnel. Up to date, the corporationhas not invested a security strategy to safeguard its informationhence, any person or employee is likely to link the privateinformation to unauthorized people.
Therobust section of the marketing mix for the Gloovy Clothing Inc.involves the sales of promotion, nontraditional marketing strategy,and public relations. The corporation managers also attend socialoutdoors activities such as rock climbs, bike rides, and day hikes.The marketing mix also refers to the 4P strategies: productstrategies, place strategies, price strategies, promotion strategy.The following are various strategies of the proposed marketing mixfor the Gloovy Clothing Inc.
Currently,the Gloovy Clothing Inc. is offering high quality of outdoor attiressuch as T-shirts, caps, jackets, caps, and fleece vests. They havethe company logo and slogan “Go Play Outside” on various itemsand give them names that are likely to please the consumers. Forinstance, there are those they name desert rice, sunrise pink, sunsetred, cactus green, river rock grey, field green, among other names.For the coming years, the Gloovy Clothing Inc. is planning to expandthe product line to compensate for the customized clothing items.Customers will have a chance to select the logo and the words to beincluded in the attire that they purchase (Hiebing, 2000). Forinstance, a team may select a logo that represent their team, andthen add a slogan in it. This strategy will maintain the freshconcept and prevent it from dilution of too many variations. Further,the GLOOVY Clothing Inc. plan to expand the product line by offeringitems of limelight luggage that is, two sizes of tote bags, twosizes of duffel bags, and a daypack. In addition, the items will bein a trendy basic color with the consumer choice of logos andslogans. Nevertheless, all products will bear the Gloovy Clothinglogo.
Place/ Distribution Strategy
Currently,Gloovy Clothing Inc. markets its products through regional and localretailer shops within the South Carolina. So far, the corporation hasnot distributed its items to other parts either through nationalsporting goods or through apparel chains. However, seasons andclimate dictate the sales of item at retail shops that sell motebaseball caps and T-shirt during hot seasons and jackets and fleecevests during cold seasons. Gloovy Clothing Inc. obtains thisinformation of the overall sale trends in different geographic areasthrough trade organization such as Outdoor Industry Association. Forthe next years, the Gloovy Clothing Inc. plans to expand itsdistribution channels to retail shops throughout the nation and toits surrounding nations. In addition, the corporation also plans toexpand the online sales by offering customized products (Cohen,2006). The corporation will also place an internet kiosk wherebyconsumers can order customized products online. Further, thecorporation intends to fully monitor and maintain a strongrelationship with its distribution channel members.
Currently,Gloovy Clothing Inc. communicates to its retailers and customersabout it product through several channels such as direct mailing,internet, face-to-face conversation, among others. The corporationalso uses promotions and adverts to give their consumer informationabout its products and to differentiate its products with those ofits competitors. The corporation relies on personal contact withretailers to communicate about the products that are available in thestores. The communication, whether by-phone or in-person, helps thecorporation to convey a message, build good relationships, anddemonstrate the uniqueness qualities of the Gloovy Clothing products(Cohen, 2006). For the next years, the corporation is planning toengage into the following marketing strategies firstly, thecorporation plans to create Gloovy Clothing Inc. tours wherebyemployees will take turns to move around the nation as theydistribute promotional items such as discount coupons and corporationstickers. Secondly, the corporation plans to attend outdooractivities such as rock climbing activities, bicycling events, kayakraces, canoe, among others. In these events, the corporation willgive out corporation caps, T-shirts, stickers, discount coupons, andfree water. Thirdly, the corporation plans to organize outdoorsactivities for its staff’s members, as well as invite members ofthe community. Lastly, the corporation will be holding a designcontest annually whereby they will add winning slogan and logo in thecustomized line.
Normally,the Gloovy Clothing Inc. prices its products according to the pricein the market. However, the corporation does not set high prices tosignal luxury or prestige, but it give its product price value thatconsumers would feel comfortable to purchase new clothing. In thisstrategy, the corporation plans to give out gift such as birthdaygifts, anniversary gifts, among others. Additionally, the customizedclothing will sell just a slight higher price than the clothing withregular Gloovy Clothing Inc. logo. Likewise, they will price luggagecompetitively in order to offer a good value against its competitors.
Genericstrategies are the strategies that a company uses to gain competitiveadvantage in the market (Cohen, 2006). The Gloovy clothing plans toincorporate three generic strategies: cost leadership, focus, anddifferentiation strategies. A cost leadership strategy promotesgaining competitive advantage due to the low cost of production ofthe product. High cost does not correspond to the high price and viceversa. The Gloovy will remove cost on every link of the value chain,and eventually, the cost of the product will be low. The focusstrategy focuses on the arrow and defined segment of a market. On theother hand, differentiation strategy involves production ofdifferentiated products for different segments. The Gloovy clothingplans to brand and promote each product differently depending withthe levels of functions. This strategy also allows cash flow evenwhen the market is not performing well.
Grandstrategies are the overarching strategies that shape a business, andfocus on the long-term goal for a company or a business (Brooksbank,1991). The Gloovy Clothing Inc. intends to incorporate market growth,product development, and turnaround strategies. The corporation willuse the market growth strategy to focus on the growing market for thecorporation’s products. The corporation will also use this strategyto open other markets with time in the neighboring nations and otherparts of the world.
Oneof the marketing objectives of Gloovy clothing Inc. is to increaseprofit and revenue and maintain its brand name. To achieve thesegoals, the corporation needs to make use of the social media, mobilecommunication, online advertising, and in-store advertising (Penrose,2008). These media of communication will pass information about thecorporation’s products and a consumer can purchase them. Therefore,this strategy will achieve communication objective by creatingawareness the Gloovy clothing attires.
Positioningis a marketing concept that determines what a business opt to do tomarket its products or services. The Gloovy clothing Inc. marketingdepartment plans to create a good image for the corporation based onits intended audience. It will achieve this through the marketing mixthat consists of four strategies: product, place, price, andpromotion strategies. This will benefit the customers by offeringthem with sufficient information about the corporation’s productsand their advantages. Further, the marketing department will considerpositioning in advertisements, positioning through price, andpositioning in sales locations. In positioning advertisement, thedepartment will research on the target market and on the need ofconsumers. It will also research on the age group to target.Likewise, the department will reach on the right channels fordistribution. It is necessary to position and place products orservices near the target market as possible. Lastly, positioningthrough price, the product prices will be positioned as a goodalternative of a high-priced brands to minimize price comparison.
Toanalyze the effectiveness of the Gloovy Clothing Inc. marketing plan,it is necessary for the corporation to compare its plan objectiveswith its actual performance (Brooksbank, 1991). To facilitate thisanalysis, the corporation should come up with monitoring proceduresto develop various activities required to bring yield of themarketing plan. These procedures include firstly, a projectmanagement concept to assess the execution of the plan, and establishtime requirements, financial and budgetary expenditures, and humanresource needs. Secondly, a perpetual comparison of the plannedevents and actual activities conducted on a monthly basis. Thebusiness analysis team will report the comparison directly to themanager. Lastly, each project team will be responsible for anecessary change, product focus, and operation.
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Cohen,W. A. (2006). Themarketing plan.J. Wiley & Sons.
Cromie,S. (1995). Marketingand entrepreneurship in SMEs: an innovative approach(Vol. 1). London: Prentice Hall.
Hiebing,R. (2000). Thesuccessful marketing plan.NTC/Contemporary Publishing Group.
Penrose,J. (2008). Masters marketing: routes to success? Planet,2(19),42-43.