The Market Plan for Blue Sky Clothing - Book Report/Review Example

? Marketing Management- the Market Plan for Blue Sky Clothing Table of Contents Executive Summary 3 Introduction 3 Strategic Focus and Plan 4 Mission4 Goals 5 Core Competencies 6 Situation Analysis 6 SWOT Analysis 7 Competitor Analysis 8 Target Market Segmentation 9 Marketing Mix 9 Conclusion 11 References 13 Executive Summary Blue Sky Clothing is one of the emerging and growing clothing organizations within the industry. Two founders of Blue Sky Clothing have created a five year marketing plan for their organization in order to secure growth and additional funding. Moreover, the business plan helped to inform their employees about the current situation and direction of the company (Pride, Hughes and Kapoor, 2012, p.292). Since three years the company is operating in market place. Blue Sky Clothing has experienced more than anticipated demand for their product line. It has been identified that target market of sports retailers and sport loving people are tending to consume the casual outfits that has been offered by Blue Sky Clothing. The organization is planning to extend their product line and introduce new products in the competitive market place. Moreover, the company is planning to explore the opportunities for online sales. The environment of marketing has been very accessible to the organization’s high quality products. Casual outfits in attractive colors with slogans and logos reflect the interest around the country (Kotler, Roberto and Lee, 2002, p.221). In next five years the organization can offer new products, increase their distribution channel and acquire new customers. Introduction Blue Sky Clothing is a newly developed Canada based company, which has owned and operated by renowned Marilyn Robinson. They already have five retail outlets. Moreover the company is planning to purchase wholesale. The organization was founded four years before. Two entrepreneurs, Nick Russell and Lucy Neuman have established this organization. The organization has became popular for its cotton T-shirts, fleece jackets, baseball caps and vests bearing slogans and logos of different sports like bicycling, mountain climbing, skating etc. Blue Sky provides outfits for both men and women with cool slogan and logos. Moreover their products come in several attractive colors like mountaintop white, twilight purple, sunset red, cactus green, river rock gray and ocean blue. The organization is currently depending upon the retailers situated in California, the Northwest, Northern New England, and few states in the southern region (Goodwin, 2009, p.701). Moreover, the organization is concentrating to do corporate social responsibility by doing some contribution to conservation programs. They would like to fund and develop their own environmental events. These specific strategies will outline how the organization is tending to expand the distribution channel, introduce new products, enter in new competitive markets and giving back something to the society. Strategic Focus and Plan The strategic focus and plan includes the mission statement and goal of an organization. It is essential to state an effective mission statement and setting up goals to provide a unique marketing plan. Mission The mission of Blue Sky Clothing would be the leading manufacturer and marketer of customized casual clothing for people (Armstrong and Kotler, 2010, p.177). The organization wants to inspire consumers to engage in outdoor shopping and enjoy with friend and family while doing so. Moreover, they endeavor to design events for healthy natural environment (Cohn, 2006, p.131). Goals Blue Sky Clothing during next five years, seeks to achieve the following non-financial and financial goals. Non-Financial Goals Introduction of new product line, such as lightweight luggage and customized logo clothing. Expand business in Mid-Atlantic and Southwestern States. In order to maintain a healthy relationship with retailer, they need to develop a successful website. In order to purchase an open space in community they need to develop conservation program (Cleverley, 1989, p.643). Financial Goals Increase revenue by 50 percent every year. Donation of $ 25,000 every year in order to organize conservation program. In order to introduce new product line, expand manufacturing capabilities and increase the distribution channel they should obtain financing. Core Competencies In order to compete successfully in this competitive clothing industry, Blue Sky Clothing needs to increase and use their core competencies. They need to gain a sustainable competitive advantage and add value in products and customer services in order to lead the market place. Already, the organization has developed their core competencies in Creating a strong consumer base that purchases the products of the organization. Offering branded products of superior quality whose brand image is recognizable among the buyers. Slowly and gradually developing a reputation as a reliable manufacturer among the retailers. The organization delivers required number of products to their retailers within deadline. Blue Sky Clothing intends to grow by relying on these competencies with the help of effective marketing efforts. It will increase the distribution outlets and number of products of the company. Strong relationship with suppliers, retailers, distributors and finally the consumers can create a huge brand image of the company in competitive market. Situation Analysis An effective situation analysis is an important part of a business plan as it analyzes several marketing environment factors in a business. In order to conduct situation analysis several marketing tools such as SWOT analysis, competitor analysis and target market analysis have been implemented below (Kotler, Keller, Brady, Goodman and Hansen, 2009, p.439). SWOT Analysis SWOT analysis will analyze the internal strengths, weaknesses and external opportunities, threats of Blue Sky Clothing. Strengths Slowly and gradually becoming a strong brand name. In order to ensure quality control Blue Sky works with single manufacturer. Limited debt and highly growth potentiality. Ability to understand target market and achieved distribution in numerous markets with rapid acceptance. Weaknesses The founders may lose view of the scope of potentiality of their business. Low customer base and lack of awareness in the country. Limited cash flow. Single manufacturer may limit the production capacity. Opportunities Economic development of country and high disposable income of people. Change in style, trend, customer’s taste and preferences. Market gap can be reduced by the introduction of new products in potential market. Opportunity of business expansion across US. Attractive website and facility like online shopping can increase the brand awareness of the company. Threats Huge competition within clothing industry. Global recession has affected the purchasing power of people. Adoption of online buying and selling activities may affect the relationship with retailers. Short life cycle of clothes may affect the business performance of company. Competitor Analysis It is estimated that outdoor retail sales industry sales more than 5 billion dollar of products in every year (Plunkett, 2006, p.393). There are several potential competitors in the outdoor retail apparel market who used to compete with each other. Companies like REI, Bass Pro Shops, L.L. Bean, Timberland and Patagonia are the recognizable competitors of Blue Sky Clothing (Porter, 1996, p.75). Moreover, small players like Title IX and Ragged Mountain may also pose threat to Blue Sky Clothing in near future. In order to determine the effect of competitor in their business Blue Sky Clothing had conducted a survey. According to the survey result it is feasible that 67 percent of respondent prefers the casual and active clothing which is being provided by Blue Sky Clothing. Moreover, moderate pricing strategy is also creating a brand awareness of Blue Sky Clothing. As the people are gradually becoming health conscious, the organization’s contribution to socio-cultural program may create a good brand image. Target Market Segmentation Blue Sky Clothing is targeting the active consumers aged between 25 and 45. People who like sports, such as bicycling, skating, rock climbing etc. are the target customers of this organization. These active customers are successful individuals and well educated who represents the demographic group (Quart, 2004, p.128). The household whose income is between $ 50,000 and $ 1115,000 annually can consume the cloths of Blue Sky Clothing. As economical slowdown of several countries has tended the people to consume less and save more, therefore Blue Sky Clothing has implemented moderate pricing strategy. Moreover, they have introduced several fit and casual outfits for both women and men consumers. The organization is targeting the people of upper, economical and lower income level in order to gain huge market share. Marketing Mix The following discussion will determine the details of the proposed marketing mix for Blue Sky Clothing. Product: Blue Sky Clothing presently offers outfits of high quality. They have already targeted people who love cycling, rock and mountain climbing. They are providing casual and trendy outfits according to the taste and preferences of target customers. Moreover, they are offering cloths with attractive colors, slogans and logos of different sports. Now the company is trying to launch new product line like luggage bag and outfits with the customized logo. Therefore, they are implementing this five year business plan for newly developed products. As it is already identified that demand for casual and sporty outfits is rising rapidly, therefore the organization is offering the products according to the current trend of customers. Price: As it is discussed earlier that Blue Sky is trying to gaining competitive advantages by selling their products in moderate price level. They are targeting the market such a way that people can satisfy their needs by consuming the products. In American countries sports are popular. Young generation like to purchase basket ball caps, casual sports outfits and cloths with logos and slogan of various sports. Therefore, the organization is trying to capture the target market by providing goods according to their needs. Moreover, they have already gain success and they are hoping that they would also get success by providing newly developed products in economic price. Distribution: Presently Blue Sky Clothing is marketing their products through the local retailers in California, Northern New England and States of Northwest (Boon and Kurtz, 2013, p.26). Still now the company is not distributing through the national sports apparel chain. They are planning to implement online distribution of their newly developed products thorough their website. The organization is planning to expand their distribution channel, offer online selling activities, and trying to increases the retailers of their products across the nation. Beside of doing online selling and distributing activities Blue Sky Clothing needs to maintain a good relationship with their existing distributors, retailers and customers (Barnet and Cavanagh, 1994, p.43). Promotion: Blue Sky Clothing are promoting their products and communicating with their retailers and consumers in various ways. The information of the organization and the products of it are easily available in company websites. Moreover, the organization is trying to increase the brand awareness by doing internet marketing. The direct mailing strategies to the individuals are becoming successful promotional strategy for the company. The effective personal selling activities are increasing the brand awareness of the products. The representatives of Blue Sky visit every retail store thrice in a year in order to get the orders of products. The increase in distribution channel, creating Blue Sky Tour, organizing and holding a design contest in the schools and colleges would be effective promotional activities for the newly developed products. Conclusion Two founders of Blue Sky Clothing have created a five year marketing plan for their organization in order to secure growth and additional funding. Moreover, the business plan helped to inform their employees about the current situation and direction of the company. Since three years the company is operating in market place. The organization wants to inspire consumers to engage in outdoor shopping and enjoy with friend and family while doing so. Moreover, they endeavor to design events for healthy natural environment. The organization is currently depending upon the retailers situated in California, the Northwest, Northern New England, and few states in the southern region. Moreover, the organization is concentrating to do corporate social responsibility by doing some contribution to conservation programs. Blue Sky Clothing intends to grow by relying on these competencies with the help of effective marketing efforts. It will increase the distribution outlets and number of products of the company. Strong relationship with suppliers, retailers, distributors and finally the consumers can create a huge brand image of the company in competitive market. Blue Sky Clothing are promoting their products and communicating with their retailers and consumers in various ways. The information of the organization and the products of it are easily available in company websites. Moreover, the organization is trying to increase the brand awareness by doing internet marketing. Increase of distribution channel and brand awareness can provide a huge competitive advantage to Blue Sky in order to operate successfully in market place. References Armstrong, G., and Kotler, P., 2010. Marketing: An Introduction. London: Pearson. Barnet, R., and Cavanagh, J., 1994. Global Dreams. New York: Simon & Schuster. Boone, L., and Kurtz, D., 2013. Contemporary Marketing. Stamford: Cengage Learning. Cleverly6, W., 1989. Handbook of Healthcare Accounting and Finance. Burlington: Jones & Bartlett. Cohn, A., 2006. Agroecology and the Struggle for Food Sovereignty in the Americas. London: IIED. Goodwin, D., 2009. Team of Rivals. London: Penguin UK. Kotler, P., Keller, K., Brady, M., Goodman, M., and Hansen, T., 2009. Marketing Management. Bethlehem: Centraal Boekhuis. Kotler, P., Roberto, N., and Lee, N., 2002. Social Marketing. London: Sage. Plunkett, J., 2006. Plunkett’s Apparel and Textiles Industry Almanac. Miami: Plankett Research Ltd. Porter, M., 1996. What is Strategy? Boston: Harvard Business School Press. Pride,W., Hughes, R., and Kapoor, J., 2012. Foundation of Business. Stamford: Cengage Learning. Quart, A., 2004. Branded: The Buying and Selling of Teenagers. New York: Headquarters. Read More