Marketing Communications Plan for TOPSHOP - Essay Example

 Marketing Communications Plan for TOPSHOP Marketing Objective To increase the sales performance of the TOPSHOP brand amongst young shoppers in 15-24 age group of the UK female population by promoting TOPSHOP as a brand that is affordable.                I. Marketing Communication objectives To reposition TOPSHOP as a brand that is affordable To raise awareness of TOPSHOP as a fashion forward label To increase awareness of the student discount II. Marketing Communication Strategy A pull strategy will be used for getting the consumers interested in the apparel of the TOPSHOP. It requires high spending on the advertising and promotions to build the demand of the product which is the ultimate strategy TOPSHOP aspires to follow through its diverse promotion mix. III. Promotional Mix The key message that we are trying to associate with the TOPSHOP is its line of stylish, trendy, classy and inexpensive clothing which gives good value of money (in this time of recession) to its consumers. The rationale behind promoting the brand as a commercially affordable one through different means is in accordance with the prediction in a report of Key Note Publications Ltd (2000) that the bulk and standard clothing high street stores of UK will come under utmost pressure to differentiate and align their products in terms of quality, price and style especially in the turbulent times when the youth market is shrinking and more disposable income lies with the older age groups. The proposed promotion plan of TOPSHOP is wide and diverse and it incorporated a wide array of marketing communication means and tools. 4.0 Public Relations: TOPSHOP will hire a local PR firm to help it implement the marketing plan. It will look over its publicity issues in a very cost-effective manner. The marketing message, slogan and tagline of TOPSHOP will be strategically exploited to keep it in the eye of all the consumers. The reputation and good will in the industry will be assured through the PR firm. 4.1 London fashion week: The clothes from TOPSHOP will be displayed at the London Fashion Week which will increase their awareness and exposure. Shim and Dranke (1991) identified the key features of profitable stores and amongst these features were the use of exhibitions as a tool of promotion. Their research focused on elements of specific business practices and promotions for the women’s apparel market and the conclusions were drawn on the fact that fashion shows does in fact work to positively promote the merchandise of a company (Shim & Dranke 1991). The recent research by Adams and Browning also confirmed that trade shows and exhibitions are highly effective communication vehicle for the targeted market. 4.2 Direct marketing (offline & online): The direct marketing through competent sales personnel would be executed. It is also under the plan to mail the newsletter directly to the current customer database. Direct and digital marketing has seen to be aiding in growth of all the business’s aspects including the return on investment, sales generation and employment. The Direct Marketing Association's yearly report, The Power of Direct Marketing confirmed these statements. Until a few years back, up to 5.5% increase in response rates was seen and expected in commercial email, Internet marketing and direct mail. The customers would also be kept updated through direct online marketing. 4.3 Event sponsorships: The marketing plan of TOPSHOP also incorporates the event sponsorship. It will make its presence felt at the events and activities of its target market. The sponsorship of college functions, carnivals and other related activities that the target market enjoys will be done by TOPSHOP (Skinner & Rukavina, 2002). The maketing team of TOPSHOP will also organize clothing swap events at colleges and universities. It is planned to make these events fun for the attendees by incorporating live music and refreshments. The heightened visibility due to positive publicity in the eyes of the target market through this medium aspires to bring more profitibility and customer base. 4.4 Merchandising promotions: The merchandise of the TOPSHOP will be promoted by holding £ 100 shopping spree and fashion consultation through lucky draws. It will help to create an environment of anticipation and excitement. The names and contact information will be collected for the purpose of follow up marketing initiatives. These promotional activities and events will be amply promoted through advertisements in local newpapers and radio advertising. 4.5 Print advertising: The avenues of the print advertising will also be explored to give maximum exposure to TOPSHOP. The center spread advertising in one of high circling newspaper or magazine will be utilized to have the highest probability for reaching the target market. The target market includes the young adults in this case and the magazines we choose will be those which are well read and subscribed by the most by this target market. 4.6 Internet Marketing: The internet has become the staple of retail merchandising. TOPSHOP has succeeded in securing the domain name Topshop.com.uk and it already provides the consumers the ability to shop online. However it is under the plan to launch a live designer and fashion advice and internet only specials. The site will also feature many designer’s interviews, newsletters, and articles about the current trends. TOPSHOP does and will nurture on the infamous online social networking sites e.g. facebook and tweeter. The number of tweets and the fans on tweeter and face book will be kept a record of. The consumers will be kept undated through frequent tweets and facebook statuses about sales promotions and new stocks. 4.7 Sales Promotion: The customers will be provided short-term incentives to make purchases. An example of the sale promotion is coupon (a coupon for TOPSHOP is attached in the end of the project). More sales promotions techniques that will be made use of includes; premiums, interesting and unique displays, contests, rebates and sweepstakes. The sales promotion coupons are sent out as incentives for the buyer to make the purchase decision right there right then. They are short term in nature as most of them carry an expiry date after which no value may be received. The coupon can be granted to the consumer for making a big purchase or it can also incorporate the element of involvement on the part of the consumer. The consumer can be asked to make an effort (e.g. bring a clipping from newspaper or put up their names for lucky draw). Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers to stimulate immediate sales (ed: Cummins & Mullin, 2008). 4.8 Other The Company also plans to make use of other various channels including billboards, radio and television commercials. Additionally low cost publicity activities will also be taken advantage of, such as posting flyers and sending out brochures. IV. Scheduling and Implementation The marketing plan will be scheduled and implemented keeping in view the long term objective of increasing customer satisfaction through high visibility and consistent quality. The short term advertising objectives are to generate profit through quick sales prompt by the sales and merchandize promotions. Marketing Plan- Gantt Chat The implementation phase of the marketing plan of TOPSHOP includes a detailed schedule of key tasks which clearly determines what will by done by when. The implementation schedule will be referred to as many times as possible in order to not lose the sight of the big picture and achieve the corporate objectives by achievement of increments of the big goal. The print advertising will be undertaken by publication in Sunday Magazines of daily newspaper. The immense readership will help in ample visibility of TOPSHOP. A proper ad agent will be hired and ad will only be agreed upon post a mutual understanding of the marketing objectives and a deep study of the target market in terms of their visual preferences. The technique of direct marketing would also be spanned over the whole course of the business plan. There would be ample job training for the sale personnel to motivate them to increase sales through relationship marketing. Two major event sponsorships are planned for the six month long business plan. One of the event being the clothing swap event and the other sponsoring a school carnival. The target market is anticipated to attend both the events which can ensure its ample awareness and visibility. The public relations manager will ensure the positive outlook of the brand. The agenda of public relations departments includes; creating a positive outlook through their earth day T-shirts and campaign to go green which will be highlighted through a press release. The London fashion Week which is expected to take place in the third month of the February will also showcase the clothes from TOPSHOP. The sales promotion will also be conducted in second week of April for two weeks and coupons will be handed out to reward loyalty and motivate the purchase. The sales promotion will be carried out initially by developing criteria for promotion’s success. The quantitative measure of the success of the sales promotion of TOPSHOP is decided to be the 20% increase in the new customer base and 30% more customer retention by rewarding loyalty through sales promotions. The marketing goal of ultimately satisfying the customers was also determined with the help of achieving the marketing communication goals which eventually led to the achievement of the big goals. A clear timeline was drawn for the purpose of identifying who was responsible for what job of the TOPSHOP marketing plan. The time was also allocated to performance of different tasks. V. Budgets Evaluation and Control Description Cost (￡) Source Website  Free Employee Expertise utilized Print Advertising/ Press Release  14000 Written and designed by marketing department and published in local magazine Brochures/Leaflets  6000 Custom made by employee Sales Promotion  16000 Depends on the loyalty and the amount of previous purchase. Sponsorship  550,000 Sponsorship of fashion week of a college. Direct Marketing  25000  Training of personnel Public Relations  55000  The local hired PR firm Trade Shows  45000  -  Total  698400     TOPSHOP made use of a wide array of promotional campaigns and activities. The question now arises whether these succeeded in helping the firm reach its marketing objectives. In an ideal situation, the execution of various marketing promotions using different tools should result in reaching and achievement of the firm’s goal. The efforts of the promotion tools should work to positively influence the consumers to making purchases and should aid in creating the awareness about the brand. For the purpose of evaluating marketing tools and techniques used in the proposed marketing plan of TOPSHOP, extensive research was carried out prior and after the launching of the marketing campaign to determine their effectiveness in bringing about the desired outcome. Pre-test: The advertising strategies of TOPSHOP will be researched prior to release in order to gauge the target audience response to advertisement and make adjustments of the desired effect it not realized. All the campaigns will be subjected to consumer juries where the respondents will be asked to compare, rank and evaluate the ads of TOPSHOP. The success of failure of the ad campaign will be determined pre-hand and investment or withdrawal will be made likewise. The accuracy, with which the intended message of TOPSHOP is decoded, will be determined with the help of dummy vehicles. These pre-testing techniques will help in making corrective measures. The ads of TOPSHOP will be featured in dummy or pretend magazines which would then be distributed to random household. The readers would be asked the questions regarding its recall level and what interested them in the ad. Any inappropriate advertisement will be prevented from reaching the finished stage with the help of pre-testing. Additionally the readability tests will be enacted to ensure that the font and length of the sentences compliments the standards of the target market. The recall rate of the advertisement can be greatly increased through this. Post test: The various marketing strategies of TOPSHOP will be evaluated post their launch as well. The testing after the advertisement has been released is more difficult but the main advantage is that it is testing the advert when the consumer is in its own environment, and can be done using following methods. A close look and analysis of the sale generation while keeping other control variable intact, post the launch would help determine the effectiveness of the advertisement in more practical way. The marketing team of TOPSHOP will also adopt the strategies of ad tracking to determine the effectiveness of the ad in the market. The interviews will be conducted with the consumers regarding the ad to determine the success rate in terms of sales generation, recall rate and the purchase intentions. Additionally simulated test market will be ensured which is basically the calculation and estimation in increase of the market share as a consequent of being exposed to the ad. There are different techniques used after the marketing plan period to analyze success in achieving individual marketing objectives and to more broadly assess the entire firm’s marketing efforts. The various marketing techniques which can be undertaken by the organization might include sales analysis, market share analysis, marketing costs and profitability analysis, efficiency ratios, marketing effectiveness rating review and marketing audits (Cheverton, 2004). TOPSHOP will try to make sure to use of all the above mentioned strategies. The smooth execution of the plan will be overlooked at the TOPSHOP by ample controlling of the factors that causes hurdles. The progress will be monitored very closely. The proactive approach to tackle any shortcoming in the schedule e.g. costs overrun will be adopted. The constant reviewing of the plan will help the marketers of the TOPSHOP to learn and make necessary changes in the plan. The progress report and the outcome measurement will determine the future course of action for TOPSHOP. The performance analysis will give a clear picture of discrepancies in the expected result and the original result. The marketing team of TOPSHOP will also take various steps to find out if its marketing plans are successful and if not then remedies regarding the loopholes will be suggested and recommended. References Browning, J. & Adams, R. Trade shows: an effective promotional tool for the small industrial business. Questia Trusted Online journal Bradford, Robert W., Duncan, Peter J., Tarcy, Brian. 2002. Simplified Strategic Planning: A No-Nonsense Guide for Busy People Who Want Results Fast! Clothing Retailers Market Assessment published by Key Note Publications Ltd, Jan 2000 accessed from http://www.researchandmarkets.com/reports/3557 Cummins, J. & Mullin, R. ed. (2008) Sales Promotion: How to Create, Implement and Integrate Campaigns that Really Work. Kogan Page Cheverton , P. 2004. Key Marketing Skills, Kogan Page Shim, S. Dranke, M. (1991) Profitability of Women's Apparel Shops: Business Practices, Promotions, and Store/Owner Characteristics, Clothing and textile research journal, Vol. 10, No. 1, 68-75 (1991) Skinner, B. & Rukavina, V. (2002), Event Sponsorship, Wiley Read More