Marketing Plan Company Description Royal Line Clothing Marketing Plan
- Length: 5 pages
- Sources: 3
- Subject: Business
- Type: Marketing Plan
- Paper: #94036858
Excerpt from Marketing Plan :
Royal line clothing was founded five years ago by tow Entrepreneurs, Nick Neumann and peter Jefferson. Nick is a holder of an undergraduate degree in marketing and has worked for a long period in the retail clothing industry. Jefferson on the other hand owned an adventure business but ended up selling this business to a person they were partnering with. Jefferson and Nick have been good friends from college and they decided to come up with a market line of clothing which was unique and at the same time having an appeal to outdoor enthusiasts. Royal line clothing is a reflection of the passion for outdoors that Nick and Jefferson hold. The company produces original T-shirts, fleece jackets, baseball caps and vests all with logos of different sports such as cycling, mountain climbing, horse riding, skating and so on. However each and every one of their items shows off the slogan of the company which is "Go play outside." Royal line sells clothes for both men and women in very nice colors such as sunset red, desert rose, sunrise pink and so on ( Lavinsky, 2012).
Currently royal line clothes are carried by small retail outlets which specialize in outdoor clothes and gear. Most of these stores are in California and a few states in the south. The high quality and trendy clothes available in royal line have gained the company a following from consumers who are between the ages of 25 and 45. Their sales have gone up in the last year and they are now working towards the expansion of the manufacturing capabilities of the company. This plan will give an outline of how Royal line intends to introduce new products, expand their distribution and finally venture into new markets.
The company's mission is to the leading producer and manufacturer of casual, personalized clothing for those consumers who love outdoor activities. The company intends to inspire people to get out more often and enjoy themselves with their families and friends. The company aims at using its core competencies to achieve a competitive advantage which is sustainable whereby competitors will not be able to provide the same value for the consumers as Royal line does. The core competencies that Royal line has already developed include; offering products that are of high quality and their image recognized among consumers, creating a sense of community among those consumers that purchase the product and finally developing a reputation among the retailers as a manufacturer that is reliable and delivers the requested products on time. The intention of the company is building on these competencies through the marketing efforts which will expand their markets ( Lavinsky, 2012).
The marketing environment for royal line represents very many opportunities. However it also contains some challenges which the company has a strong belief it can be able to meet successfully. SWOT analysis is important as it helps in presenting a thumbnail sketch of the position of the company within the market place. In the five years Royal line has been in operation it has built some strength and at the same time looking forward to new opportunities. It has dedicated founders, growing number of customers who are loyal to the brand and a sound financial management all have placed the company in a good position to grow and expand into new markets. However as royal line looks at expanding the line of products and venture into new markets the company will have to make sure that they guard themselves against market myopia which means failing to recognize its business scope and also quality compromises. As the company cements on its plans of new products and expansion of internet sales the management have to ensure that they protect the company against competitors who attempt to make copies of their products. However, strong relationship building with retailers, competitors and suppliers will ensure that their competitors are thwarted.
The table below shows the strengths, weaknesses, opportunities and threats of Royal line clothing
1.Royal line has dedicated founders who understand the target market and product
2.Royalne has been able to achieve quick acceptance in several markets
3.Company as little debt and very huge potential for growth
4.The company works with only one manufacturer therefore there is maximum quality control
1.the founders of the company might loose sight of the potential scope of the business
2.limited number of country are familiar with the Royal line brand
3.the company has a limited h flow
4.the company only relies on one manufacturer who will limit the production capacity in the event of an expansion
1.the company's loyal customers are likely to buy new products
2.There are existing gaps in the market which can be filled with the new products
3.Royal line has a chance of expansion across the U.S.A. And into new markets
4.The company can reach more consumers through the website
1.Consumers might get tired of this concept and hence they need to keep it fresh
2.There are large competitors like Timberland that might end up soaking launching similar product lines
3.clothing sales nationwide have been flat in the past few years
4.Relationships with retailers might deteriorate if there is belief that they might be facing internal competition in terms of internet sales.
The company's marketing objectives include; to enter new geographical markets which include countries outside the United States. Another marketing objective is to ensure that the company reaches its potential customers in the most effective way possible. As seen, the customers of Royal line clothing are mostly aged between 25 and 45 years. These customers are re likely to be reached through internet sites since the world today revolves around the internet. Therefore, the company should ensure that another marketing objective is to develop successful internet sites where they will sell their products at the same time maintaining a strong relationship with their retailers. With this then the company will be sure that they will reach the target market effectively.
The marketing goals of royal line clothing are all about ensuring that the products reach the target market. The target market of royal line clothing is active consumers who are aged between 25 and 45 years. These are people who like rock climbing, hiking, in-line skate, snowboard or ski and other activities.in short these people like to "go play outside." It is not necessary that they are experts in these sports which they take part in but they actually enjoy the outdoor activities. These active consumers also represent a demographic group of people who are well educated and successful, they are either married or single or raising families. They generally have fairly high incomes but they still are conscious of prices and seek a value for whatever they purchase. Regardless of their ages they lead lives that have active lifestyles.in order to reach this target market effectively the company as to ensure that he use the marketing mix effectively.
Royal line will use several strategies involved in a marketing mix so as to reach the target market. One of these strategies is product strategy whereby Royal line will offer to the target market a line of high quality outdoor clothes such as T-shirts, jackets, fleece vests and so on. These will be available in most popular colors that will be appealing to the target market. Within the next five years the company will ensure that it expands its line of products where they will include clothing items which are customized. Customers might select a logo which represents their sport for instance hiking the company can then add a slogan which will match with this logo such as 'Get over it." Eventually there are some slogans and logos which might be retired while other new…