The student is required to develop a 2000 word marketing plan for the case study included. When completed it should be submitted to business Faculty on or before the 16th November 2017.
Case study. “Beautiful Beds”.
A mid twenties couple have both left their jobs in retail (he was a boutique store owner, she was a window dresser) and have an idea to open a soft furnishings shop that caters for males and females 25- 45 at a very mid range price point.
The product portfolio includes.
Bed linen, duvets, pillows, soft furnishings around the bedroom theme. There may be an opportunity to
Independent Colleges | Assessment Specification
branch out into a range of hard furnishings like wardrobes, bedside lockers etc.
Goals of Organisation.
They have come up with some long term vague goals and have written them as
1)Simply to develop a loyal customer base.
2) Establish the brand through the various channels and
3)Develop a presence internationally
Marketing Channels. (Channels of Distribution)
[url removed, login to view] father has guaranteed a loan for them and they have secured a lease on a 500 sq ft store in Westbury mall Dublin street which is leased at €38,000 p.a. incl. rates.
[url removed, login to view] have established a concession in Arnotts in Henry st Dublin and two other concessions, in Athlone and Galway. ( A concession is a shop within a shop ie you pay an agreed% of your turnover to the retailer). The company has struck a deal to pay 25% to the concessionees.
[url removed, login to view] will be selling their bed linen online. Hence they must create a transactional website and commit to various social media channels to communicate their unique benefit, and develop a footprint online. Comment on which channels you shall use and why.
Hence they have three distinct ways of servicing the consumer. You can treat each channel separately when it comes to the planned marketing strategy.
Points to Note:
In relation to the shop unit, for the first six months they will only pay a turnover rent (40% of sales turnover comprises the rent) and there is a breakout clause at the end of a year where they can walk away. Otherwise they agree to a 35 yr (FRI) lease with rent reviews every five years. As it is a new lease they will not be subject to the traditional upwards only stipulation.
You can assume that the market is aimed at 24 - 44 male and female ( you will however need to do some primary research to assess what the size of the target population in Dublin and elsewhere.( [url removed, login to view] etc)
The company structure is the two people mentioned plus the father who is the source of finance. Hence it is almost a family company structure.
They have plenty of money to engage a consultant ( you ) to develop a marketing plan to take them through their first year.
They do require efficient quantifiable solutions and plans.
They wish you to be creative but want controls in place so at any point they can assess how the plan is working. (Some aids to this are customer database, spend across the counter, footfall, interaction with concessionees, online analytics etc: these are examples of controls, you may have others.)
The Market Plan should follow the template included below. In general it should evaluate the present position using SWOT, STEP for both internal and external environments in the context of the overall strategic plan.
This assessment will inform the marketing strategies to be followed and implementation and evaluation of said plans will conclude the report. For example pay particular attention to the marketing channels and evaluate which or what combination of channels to pursue.
USE THE TWO PAGE ESSENTIAL MARKETING PLAN on moodle .
Answer the assignment using this template
EXECUTIVE SUMMARY This is a short couple of paragraphs that explain the main recommendations of your report.
One This shall include an examination of all the factors that the org has no control over ( 1. MACRO) plus all the factors that it has some control over
TWO ( 2. MICRO) which includes the company, culture in company employees suppliers infrastructure etc . A major influence here is
THREE 3. COMPETITION which deserves its own section to include positioning maps [url removed, login to view] five forces .
FOUR Then you must analyse the decisions they have made in relation to their target customer and segmentation,
A their customer solution, (key differentiator, USP mission, reason to believe, core value benefit Etc)
B the communication of their customer solution through all aspects of the marketing mix, look at the organization as a whole (including online) reviewing their current marketing plan as evidenced in the marketing mix ( price product, place promotion) .
C which generic strategy they are pursuing (cost focus or differentiation Or a combination Note we are presenting the info here the next section we shall interpret the strengths weaknesses opportunities and threats that arise.
FIVE This is the SWOT analysis
SIX you should then pick one opportunity to exploit or a threat to defend against and reasons given for your choice.
Create a generic strategy (cost focus Differentiation) or more usefully a combination of these to implement the customer solution , (value benefit USp key differentiator, reason to believe) going forward.
Identify the potential Target market
Identify the competitive space and who the competitors are ( who you are positioning against)
Develop the potential marketing mix (4ps) for the strategy and target market . These are the communication touchpoints that you use to communicate the customer solution to the target customers
Identify the metrics, sales t/o increased web visits , footfall to store etc that will indicate how your plan is successful or not.
Conclusion Limitations and further considerations .