Strategic Integrated Marketing Communications - Example

South East Embroidery and Your Workwear Name Course Name and Code Instructor’s Name Date Business Plan Summary The Business Business name: South East Embroidery and Your Workwear Business structure: Company Business location: 40 Bombala Street, Cooma NSW 2630, Australia Date established: 1993 Business owner(s): David Cigana and Angela Cigana Relevant owner experience: More than 20 years experience in manufacturing and branding, and also more than 10 years in workwear imported brands Products/services: The business is an independent retailer is able to supply an array of wears. These wears include uniforms, HiVis uniforms, footwear, hospitality uniforms, safety gloves and workwear uniforms The Market Target market: Target market is the sector in which the business aims to get the customers form. The target market of South East Embroidery and Your Wear are those organisations and industries that require protective clothing in fulfilling their daily obligations. Some of these industries and organisations include hotels, manufacturing firms, construction and any other occupation that requires protection. Marketing strategy: To provide numerous products that suits the different operational requirements and also stock products from different manufacturers to provide numerous products, which the consumers can choose from. Diversity in wears is important and providing wears that fulfil numerous work related obligations would ensure more customers are attracted to the store. The Future Vision statement: This is an independent retailer owned organisation and could provide dependable, honest and quality wears and embroidery services to both individuals and businesses. The working environment could be conducive to all stakeholders. Generally, the business could focus on providing a fast, hassle free, efficient and pleasant experience. Goals/objectives: Goal 1: Developing of advertising strategy Utilise social media to advertise the business: Facebook and Twitter accounts by the end of May, 2013. Develop brochures that indicates the type of garments and embroidery available by the end on June 2013 Goal 2: Business disposal To sell the business on December 2018 Table of Contents Business Plan Summary 2 Table of Contents 4 2.0 Marketing 5 Market research 5 Market targets 5 Environmental/industry analysis 6 Customer Analysis 6 Customer management 8 SWOT Analysis 8 Competitors 9 Advertising & sales 10 Advertising & promotional strategy 11 Sales & marketing objective 12 Unique selling position 12 Sales & distribution channels 13 The Future 13 Vision statement 13 Mission statement 14 Goals/objectives 14 Action plan 15 Conclusion 16 References 17 2.0 Marketing Market research Market research is organisation of efforts into gathering information about customers or markets (Bernstein, 2007; Schultz, Tannenbaum & Lauterborn, 2003). Sometimes market research is utilised interchangeable with marketing research in that it links the customers, public and consumers to the marketer (Blythe & Zimmerman, 2005). The marketing research allows for indentifying and defining the market problems and opportunities through generating, refining and evaluating marketing actions (Burrow & Bosiljevac, 2009; Gitman & McDaniel, 2007). Marketing research also allows monitoring of market performance and also improving the understanding of the market process (Kelley & Jugenheimer, 2010). Regarding South East Embroidery and Your Workwear, the business has been in operation for a long time and internal information is enough to determine the direction of the business. In addition, numerous information is available regarding the industry and this diverse information can be utilised in formulating and implementing the appropriate marketing strategy (Pelttier, Schibrowky & Schultz, 2003). Market targets Target market allows breaking a huge market into smaller segments and the concentrating organisational marketing resources on one or a few of these segments (Bernstein, 2007; Gitman & McDaniel, 2007). The importance of target marketing is making pricing, promotion and distribution of the products and services and also in a manner that is cost effective (Blythe & Zimmerman, 2005; Schultz, Tannenbaum & Lauterborn, 2003). Therefore, the targeted market of South East Embroidery and Your Workwear includes schools, recreational activities, industries and hospitality industries. During the winter the targeted market is the market for menswear, during spring e.g. February is school wear and in April it is uniform. In addition, between these periods other industrial and sectors could be targeted. Environmental/industry analysis Environmental analysis groups the forces and changes that affect any business either indirectly or directly through analysing suppliers, customers and competitors (Blythe & Zimmerman, 2005; Pelttier, Schibrowky & Schultz, 2003). Environmental analysis allows studying macro environmental scan that brings together the trends of the targeted market (Bernstein, 2007; Gitman & McDaniel, 2007). According to the available information, there is market for work wear and clothing. In addition, there is market for industrial based protective clothing and wear. This means that South East Embroidery and Your Workwear can sell its products easily. Customer Analysis Customer analysis is the method utilised in determining the customer value, customer segmentation, motivation and purchasing behaviour with the aim of targeting better the market and contributes into increase of sales (Bernstein, 2007; Pelttier, Schibrowky & Schultz, 2003). Customer analysis also allows identification and targeting customers who are most profitable through marketing campaigns that are aimed at engaging them and usually directed through numerous channels (Blythe & Zimmerman, 2005; Schultz, Tannenbaum & Lauterborn, 2003). Moreover, customer analysis allows identification of organisation customers, determining the most valuable customers, and improving the value of these different customers (Burrow & Bosiljevac, 2009). Customer analysis is important for South East Embroidery and Your Workwear since it would improve on marketing efficiency. Customer demographics Customer demographics brings into consideration all the necessary measurements to allow, statistically, description of the end user in a given market segment (Bernstein, 2007; Burrow & Bosiljevac, 2009; Gitman & McDaniel, 2007). Customer demographics incorporate parameters such as customers by industry, total number of consumers, customer incomes, race, gender and social status (Blythe & Zimmerman, 2005; Pelttier, Schibrowky & Schultz, 2003). In addition, customer demographics allow identification of the targeted market. The targeted market based on customer demographics for South East Embroidery and Your Workwear includes: School wear: 25-35 Female Workwear: 30-50(men), 70%; 40-60(female), 30% Embroidery: Bulk-trader (50%) and Corporation (50%) Key customers The key consumers are the large corporation, and individual consumers (Blythe & Zimmerman, 2005; Schultz, Tannenbaum & Lauterborn, 2003). In addition, small organisations are the major customers of the organisation. Other sectors that are targeted include schools, social communities and clubs Customer management Customers are important stakeholders within the organisation (Blythe & Zimmerman, 2005; Gitman & McDaniel, 2007). The customers should be satisfied and appreciate the available products and services (Burrow & Bosiljevac, 2009; Percy, 2012). Some of the strategies employed by the organisation to satisfy the requirement of consumers include utilisation of provision of reward cards, quality service, effective communication with the customer and option of refund (Pelttier, Schibrowky & Schultz, 2003; Schultz, Tannenbaum & Lauterborn, 2003). SWOT Analysis SWOT analysis allows an organisation to understand the internal and external factors that determines how the business operates (Bernstein, 2007; Gitman & McDaniel, 2007). SWOT Analysis is a strategy that allows evaluation of the strengths, weaknesses, opportunities and threats involved in a marketing scenario (Blythe & Zimmerman, 2005; Schultz, Tannenbaum & Lauterborn, 2003). SWOT analysis is utilised in a place, product or industry to determine viability of the sector. Some of the internal and external information relating to South East Embroidery and Your Workwear include: Strengths Brand name Product quality Product knowledge Unique-school wear embroidery and printing Multiple communication channels Products diversity Fast turnover Warranty reliability Good history (20 years) Weaknesses Marketing Location Small leased space Opportunities Expansion into new markets Franchise Threats Competitors Imported goods Suppliers (they directly sale to school by same price) Competitors Competitor analysis in strategic management and marketing is an assessment of the weaknesses and strengths of the current competitors and potential competitors (Bernstein, 2007; Schultz, Tannenbaum & Lauterborn, 2003). Competitor analysis provides a platform in which defensive and offensive strategic approach to allow for identification of both threats and opportunities (Blythe & Zimmerman, 2005). This strategy is utilised in collecting information regarding the competitors to allow in formulating and implementing an effective and efficient strategy towards achieving organisational goals (Burrow & Bosiljevac, 2009). In addition, the information collected on competitors is also utilised in monitoring and adjusting any strategy that has been implemented (Pelttier, Schibrowky & Schultz, 2003; Schultz, Tannenbaum & Lauterborn, 2003). Moreover, competitor analysis is an important component associated with corporate strategy (Burrow & Bosiljevac, 2009; Gitman & McDaniel, 2007). However, it is some few companies and organisations that continuously do the analysis but some organisations do not participate in this analysis (Blythe & Zimmerman, 2005; Pelttier, Schibrowky & Schultz, 2003). Instead, numerous organisations utilises informal conjectures and impressions that are easily available to every manager and can easily be obtained (Burrow & Bosiljevac, 2009; Gitman & McDaniel, 2007). This means those organisations that do not maximise on competitor analysis results in ineffective marketing strategy. In the clothing, embroidery and textile industry in Australia, numerous businesses exist in which they compete among each other. Therefore, the following table illustrates the competitors of South East Embroidery and Your Workwear including the weaknesses and strengths. Competitor Established date Value to customers Strengths Weaknesses Main street 1924 Convenience Prime location Limited product choice Hip Pocket Franchise Franchise-bulk purchase, lower price Limited product choice Rhythm Snowsports 1985 Convenience Specials on snow based clothing and opens 24 hours during winter Special mostly on seasonal clothing Birdsnest Specialises on girls clothing They have not diversified to other clothing products e.g. men clothing Advertising & sales Advertising can be defined as a method for marketing and it is used to persuade, encourage or even manipulate audience to continue utilising a product or take another new action (Shah, 2009). The new action may include substituting a product or service (Bernstein, 2007; Gitman & McDaniel, 2007). The aim of advertising is to drive the behaviour of a consumer regarding the given product or service (Blythe & Zimmerman, 2005; Pelttier, Schibrowky & Schultz, 2003). Advertising utilises numerous strategies and channels to engage the consumers, which includes newspaper, television commercial, outdoor advertising or even Internet based advertising (Hackley, 2010; Schultz, Tannenbaum & Lauterborn, 2003). South East Embroidery and Your Workwear would implement an advertising strategy to ensure the organisational products and services are visible and thus drive the customers’ behaviour towards purchasing the product. Advertising & promotional strategy Advertising is utilised through employing promotional strategy (Burrow & Bosiljevac, 2009). Promotional strategy is a method that is utilised in spreading the word about the service and product to the stakeholders, customers and the broader public (Pelttier, Schibrowky & Schultz, 2003). Numerous strategies and methods exist in which service and product can be promoted (Bernstein, 2007; Schultz, Tannenbaum & Lauterborn, 2003). Some companies and organisations utilises more than one channel or method in advertising the product based on differentiating marketing strategies (Blythe & Zimmerman, 2005; Gitman & McDaniel, 2007). South East Embroidery and Your Workwear would utilise numerous promotional strategies to ensure the information regarding the organisation, products and services offered are visible to the consumers (Pelttier, Schibrowky & Schultz, 2003). In addition, the promotional strategy employed could ensure the consumers perception and understanding is directed towards ensuring the consumers purchase more of the products and services (Burrow & Bosiljevac, 2009; Schultz, Tannenbaum & Lauterborn, 2003). The following are the strategies employed or are planned to be employed by South East Embroidery and Your Wear to sustain the business includes: Planned promotion / advertising type Expected business improvement Cost ($) Target date Print media advertising Attract new customers 2000 8/2013 Loyalty program(reward card) Keep customer 5 per card Exist Online advertising and social media campaign Attract and maintain relationship with customers 1000 5/2013 Websites and yellow page Attract new customer 200 (2 websites) 700 (yellow page) Exist Sales & marketing objective Sales and marketing objective is based on the way the organisation operates and the aims of the organisation (Bernstein, 2007; Gitman & McDaniel, 2007). This can be based on available information or industrial requirements (Blythe & Zimmerman, 2005; Burrow & Bosiljevac, 2009). Regarding South East Embroidery and Your Workwear, David, the CEO of the organisation, defined the marketing and sales objective before they shut down the factory, but don’t focus sales team any more. Some of the selling points include shop front and website, sometimes make corporation with government, such like Snoyhydro Unique selling position The unique selling position is a method that was originally utilised by companies that carried out successful companies during the early 1940s (Bernstein, 2007; Burrow & Bosiljevac, 2009; Gitman & McDaniel, 2007). The principle behind the theory is that campaigns were developed with specific or unique propositions to the customer in which the customer would be convinced to switch to the new brand (Blythe & Zimmerman, 2005; Gitman & McDaniel, 2007). Different organisations utilise different unique propositions with the aim of changing consumer behaviour (Pelttier, Schibrowky & Schultz, 2003; Schultz, Tannenbaum & Lauterborn, 2003). These are the unique selling features embraced by South East Embroidery and Your Wear Good experience and skill (good vision for brand choosing, diversity colour, size and style) Do own embroidery and printing Sales & distribution channels Channel type Products/services Percentage of sales (%) Advantages Disadvantages Shopfront All of products 97% The customer can fit self and determine whether the wear or cloth is ok. Can communicate and seek recommendation from the shop attendant It is time consuming Requires more employees to be employed Internet All of products 3% The customers can purchase from wherever they are situated The customer might not be satisfied Inefficiency on logistics The Future Vision statement A vision statement is an inspirational description describing what an organisation aims to accomplish or achieve in the long term or short term (Bernstein, 2007; Gitman & McDaniel, 2007). This is a strategy that is utilised in guiding the organisation decisions whether in the short term or long term (Burrow & Bosiljevac, 2009). Different organisations have different vision statements in which they are utilised in guiding the direction of an organisation (Blythe & Zimmerman, 2005). The vision statement of South East Embroidery and Your Wear is to “provide a fast, hassle free, efficient and pleasant experience”. Mission statement The mission statement defines the reason for existence of an organisation (Bernstein, 2007). The mission statement importance is to guide the activities of an organisation, provision of the path in which an organisation should follow, spell the goals of the organisation and guide the decision making process (Blythe & Zimmerman, 2005; Gitman & McDaniel, 2007). This means it provides the context and framework within the organisation’s strategies is formulated and implemented (Burrow & Bosiljevac, 2009; Schultz, Tannenbaum & Lauterborn, 2003). Therefore, the mission statement of South East Embroidery and Your Wear is “satisfaction to the customer is the main aim of the organisation” Goals/objectives Goals and objectives of a given organisation define the outcomes of organisational strategies (Bernstein, 2007; Pelttier, Schibrowky & Schultz, 2003). The goals are usually dependent on specific department within an organisation (Blythe & Zimmerman, 2005; Gitman & McDaniel, 2007). For example, there are goals for the finance department while also there are goals for the marketing department (Burrow & Bosiljevac, 2009; Pelttier, Schibrowky & Schultz, 2003). The following are the goals and objectives of South East Embroidery and Your Wear organisation. Goal 1: Developing of advertising strategy Utilise social media to advertise the business: Facebook and Twitter accounts by the end of May, 2013. Develop brochures that indicates the type of garments and embroidery available by the end on June 2013 Goal 2: Business disposal To sell the business on December 2018 (5 years time) Action plan Action plan can be defined as a method in which an organisation has to focus ideas and resources and also defines the steps that should be followed towards achieving the particular goals that an organisation has (Blythe & Zimmerman, 2005; Gitman & McDaniel, 2007). Action plan is a statement in which an organisation has to achieve over a defined period of time. This means that an organisation should plan towards achieving the objectives (Burrow & Bosiljevac, 2009; Pelttier, Schibrowky & Schultz, 2003). Like any other organisation, South East Embroidery and Your Wear should strategies through formulating and implementing an action plan. The following table summaries the milestone based on marketing to be achieved, the time to be achieved and the person responsible Milestone Date of expected completion Person responsible Increase the number of sales by 20% 10/2013 Marketing Manager Incorporate different stakeholders e.g. institutions into the business (each week an employee visits three institution to inform them on available products) 12/2013 Marketing Manager Establish a social media account 5/2013 Advertising officer Conclusion South East Embroidery and Your Wear is an organisation that deals with clothes and embroidery business. The organisation has been in operation for the last 20 years and the business has gone through two phases. The organisation started as a factory and in 2003, the organisation concentrated on importation and sourcing of clothes and providing embroidery services. The organisation has numerous competitors but the business is better placed because it has all the tools and equipments that are required to fulfil the embroidery and cloth business especially branding of clothes. South East Embroidery and Your Wear also utilises numerous promotional strategies and placement strategies to ensure more consumers are accessed and are able to utilise available products and services. The aim of the marketing progress is also to make the organisation to become profitable and in the next five years should be sold. References Bernstein, J. S. 2007. Arts marketing insights. San Francisco: John Wiley & Sons . Blythe, J., & Zimmerman, A. S. 2005. Business-to-business marketing management . London: Thomson Learning. Burrow, J., & Bosiljevac, J. 2009. Marketing. Mason: South-Western Cengage Learning. Gitman, L., & McDaniel, C. 2007. The Future of Business: The Essentials. New York: Cengage Learning. Hackley, C. 2010. Advertising and Promotion: An Integrated Marketing Communications Approach. New York: SAGE. Kelley, L., & Jugenheimer, D. 2010. Advertising Account Planning: Planning and Managing an IMC Campaign. M E Sharpe Incorporated. Pelttier, J., Schibrowky, J., & Schultz, D. 2003. Interactive Intergrated Marketing Communication: Combining the Power of IMC, the New Media and Database Marketing. International Journal of Advertising , 93-115. Percy, L. 2012. Strategic Integrated Marketing Communications. London: Routledge. Schultz, D., Tannenbaum, S., & Lauterborn, R. 2003. Integrated Marketing Communications: Putting It Together & Making It Work. McGraw-Hill Prof Med/Tech. Shah. 2009. Advertisement And Promotions: An Imc Perspective. Tata McGraw-Hill Education. Read More