Trendy Fashionista Marketing Strategy and Customer Satisfaction - Essay Example

Also to catch up with our key competitors who have already established their company websites, we need to customize our marketing methods in order to woo the target market. Guided by the company’s culture of ensuring that customers look trendy thus keeping up with fashion, we will go deeper in establishing and maintaining a closer and in-depth touch with our clientele and referrals. We are intending to incorporate the following personal marketing means: Email marketing whereby we shall be sending emails to our customers on a weekly basis informing them of new products and designs in them. We are also planning to use our clientele phone database to reach them through short messaging services. To reach referrals in places that we have not yet set our distribution and retail outlets, we are planning to use search engine optimization and search engine marketing once we develop our company’s website. In meantime, we are outsourcing content marketing with social media likes of Facebook, Youtube, Instagram, and Olx.

This is in line with our advertising strategy of marketing mix which is much influenced by distribution costs, the type of marketing that we intend to use, and the financial status of the company at the moment. With the product strategy, we intend to have pictorial captions of all the products and designs in stock and post them on social media. This will target new and unexplored markets especially in the towns that we have not opened retail outlets. Putting in mind our uniqueness and our creative design department, we are also planning to increase online orders for the products that clients would want in designs of their choice. For the price strategy, we intend to tag pocket-friendly prices on our products. This has been eased by our market survey which weighed in the income levels and distribution of our target market. This will not only guide us in pricing but also in product distribution and innovations on our designs to meet the market needs and minimize unnecessary losses. For the place strategy, our advisements are customized to meet different towns’ environmental, social, economic, and cultural backgrounds. This will rule out the inconvenience of finding the advertised product in a form that does not meet your cultural background and the price tag not meeting your financial capabilities. This is intended to maximize online search and ease decision-making buys clients and referrals. For the promotional section, this strategy will locate the loss-making markets in our distribution chains and come up with appropriate sales or discounting promotional strategies (Bradley, 2010p33).

Question 2: Determine how the effectiveness of the advertising will be measured.
To achieve the company’s projected revenue growth of 40% and profits margin of 50% requires effective advertising and marketing. The success of these strategies will be measured by the orders and sales the company will close in the span of ten years. Alternatively, the company also intends to apply the crowdsourcing strategy to ascertain consumer’s levels of satisfaction with commodities bought, future expectations of brand development, and what features they want with the new products in the market. The electronic payment system that the company intends to produce will also provide the basis for crowdsourcing. This strategy will be achieved by customer responses in our personalized marketing strategy of emails and short messaging services to the clients. Further interactions with clients on social media will enable the marketing team to ascertain the levels of satisfaction of the clients.

Question 3: Explain the different promotional strategies that may be used in addition to advertising.
In addition to advertising the company will closely evaluate and analyses the growth specs in different to ascertain the best sales and revenues maximizing points. The company intends to use price discounts and online payment promotions. This will allow the company to competitively dominate the market and also tap the growing online payment section of the customers.

Question 4: Determine the best marketing research approach to measure customer satisfaction with your company’s product/service.
The company intends to use a consumer satisfaction research approach to measure consumer satisfaction with our products. This is primarily necessitated by the target market and the initial advertising method. The approach will help the company designers and the development section understand fully the consumer needs and meet their expectations.

Question5:  Decide how gaps in customer expectations and experiences will be addressed.
Due to varied customer needs and expectations, we are bound to face gaps in experience expectations but the administration team has put in place measures to improve supply, brand development, pricing, and product knowledge to our customers. This will be achieved by our continuous research on customer satisfaction, designs, and opening of our website and online payment services to ease transactions.