Post on 15-Aug-2015
+INDEX
STATE PROBLEM
MARKET RESEARCH
ANALYSIS: SURVEY SWOT BUSINESS LOCATION
PROBLEMS
SOLUTIONS
DM EXAMPLES
BUDGETING
EXPECTED RESULTS
+MARKET RESEARCH
We attempted to target middle aged women with a disposable household income
We conducted surveys at Tony Walker & Co. which is the biggest luxury fashion retail store in Buffalo area.
We collected 50 surveys and analyzed them using SPSS (Statistical Package for the Social Science)
+ Correlation between customer’s household income and willingness to visit Lengths
50%
100%
42.9%
7.1%
18.2%
54.5%
18.2%
9.1%
+BUSINESS ANALYSIS
Trend Analysis of Beauty Product Businesses
Competitors of Lengths
Products = Biggest Strength
+LOCATION ANALYSIS
Pros:
Large Store Clean and Organized exposition Located in a mid-high (income & class)
Neighbourhod Next to a Tops Cons:
- No Foot traffic- Not many complimentary stores nearby - Extra stop to shop at the location- Problem of awareness
+ Identifying Problem : Lack of Awareness
Survey Results: Most of the woman in Williamsville and Amherst with a household income of $100,000 or above have NEVER HEARD from the shop.
I DON’T KNOW
+DIRECT MAIL MARKETING
+PROPOSING IDEAS
Carry out a direct mail campaign highlighting Lengths’ strength: selling complete lines of many premium hair care products,
The direct mail will be mailed to affluent neighborhoods in the surrounding Williamsville and Amherst areas in order to target the demographic of middle aged women with a household income of $100,000 or more.
Consult with a direct marketing agency such as www.directmail.com
+PROPOSING IDEAS
Create a customer database for future campaigns
Offer discounts and info about our company in the postcards
+BUDGETING
Up to date Mailing Listing $100 for 1000 adresses (Medium detail lists)
Printing 1000 postcards / 10cts = $100
Handing out the postcards (1000) = $50
+Expected Results
Create global awareness of the brand
Inform middle aged woman in the area about our products
Keep track of the campaign and build database with coupons
Boost sales thanks to less aggressive coupons
4 out of 10 people will ignore the post cards
Make another marketing plan to engage first time customers