Fero Beauty

ABC Marketing Plan (FERO BEAUTY)
Introduction
The company in question is Fero Beauty. Fero Beauty is a boutique that sells the latest, fashionable and chic clothing, shoes, and accessories for women in the market. The company will be situated in Manhattan, New York City. Specifically, the product offerings will include shoes, accessories such as bracelets and earrings, and clothing for women such as dresses, jeans, and blouses.
In this section of the marketing plan, I will share the company’s pricing and distribution strategy, integrated marketing communications plan, public relations, sales promotion, and personal selling plan, competitive analysis, online and direct marketing plan, and social responsibility/cause-related marketing plan.
Pricing and Distribution Strategy
Pricing alludes to the practice of a business setting the price for retailing its products and services. Distribution channels encompass the course and path through which products move from production to end-user consumption. This section discusses the pricing and distribution strategy for Fero Beauty.
Pricing Strategy
Pricing is one of the components in the marketing mix, and it has a direct impact on the positioning of a product in the market. It is essential for pricing to take into account fixed and variable expenses, competition, target market groups, organizational goals and objectives, and the willingness of the consumer to pay the price. When a suitable price is chosen, it ought to help the organization in attaining its financial goals and objectives, be a genuine and convincing price for the target market, and be cohesive with other constituents of the marketing mix (Gould, n.d). Fero Beauty will apply value-based pricing. In delineation, this approach encompasses setting a price based on the idea that a consumer will pay for the products in line with the perceived value to the consumer contrasted against the cost of a substitute product. Research has demonstrated that a greater prevailing market share can be construed by forthcoming consumers as an indication of greater relative quality and will have a tendency of increasing future demand levels (Gould, n.d).
Distribution Strategy
The logistics and supply chain management strategy will encompass dealers/ retailers as the vendors for the different clothing items and also accessories that will be included in the store. Our consumers will purchase our products through multi-channels. Specifically, Fero Beauty is a brick-and-mortar store whereby the consumers will be able to come to check and purchase products physically. Nonetheless, at the same time, consumers will also be able to peruse the various product items on the company website and the different social media channels and purchase them online (Kotler et al., 2009).
Integrated Marketing Communications
Integrated marketing communications (IMC) is an approach that endeavors to amalgamate contemporary and customary marketing strategies with the main aim of generating an efficacious dependable tool to express a firm’s brands to the pertinent stakeholders. This makes certain that all kinds of communications and messages are sensibly linked together (Andrews and Shimp, 2017). The following integrated marketing communications plan elucidates how Fero Beauty will undertake the coordination of its communication endeavors.
Message Strategy
The following is the message strategy statement for Fero Beauty:
For women who are frequent shoppers seek to find the right fitting outfits that are of not only high quality but also the trending one at the moment.
Who has a lifestyle that encompasses the endeavor always to look trendy, fashionable, and with high-quality clothing and accessories? Their values include looking presentable at all times and also incline wearing outfits worn by women in Europe and the entire United States.
Our product includes shoes, accessories such as bracelets and earrings, and clothing for women such as dresses, jeans, and blouses.
That intends to make every consumer feel stylish, chic and beautiful in every way
Unlike other stores such as Zara, Gap, H&M, and Bossini, Fero Beauty has the unique selling proposition in that we will be able to offer the most recent clothing attire for women for all occasions with their corresponding accessories.
Our product is chic, distinctive and up to date and covers all women’s styling needs ranging from formal wear to casual and trendy wear
Media Strategy
Our media choices will include the following:
1. Facebook
Facebook is presently the social media platform with the highest number of users. It is the most renowned and prominently used social media tool across the globe. The company will capitalize on Facebook in undertaking Facebook Ads and Sponsored Messages to ensure that the business’ brand can reach a wider and more diverse target audience. Also, this will be a platform for enabling customers to offer their reviews and also tag the company in the products they have purchased.
2. Instagram
Instagram is growing by the numbers as a preferred social media platform. Instagram is ideal for Fero Beauty because the company will be able to post pictures of any new product items. Also, consumers will be able to tag Fero Beauty to show themselves wearing such products, thereby increasing the marketing for the company.
Public Relations, Sales Promotion, and Personal Selling Plan
A public relations plan is an approach employed in the management of public opinion and view of an entity. Characteristically, a public relations plan takes into consideration public calamities and problems with public opinion. Secondly, a sales promotion plan alludes to an approach implemented for a fixed period with the intent of increasing consumer demand levels and invigorating firm sales. Lastly, a personal selling plan is an approach in which a business entity utilizes individuals within its sales force to retail the products and services after facing direct and face-to-face meetings and conversations with the customer. This section of the plan explicated Fero Beauty’s public relations plan, sales promotion plan, and personal selling plan (Andrews and Shimp, 2017).
Public Relations Plan
Press releases will play a significant role in Fero Beauty’s marketing plan. These press releases will be expressed and displayed on all of the company’s social media platforms. This will be important in notifying the consumers about new stock, new products introduced by the business, and also in sharing upcoming events such as promotions, sales discounts, and also change in business operating hours. This information will also be displayed on the company’s website (Andrews and Shimp, 2017).
Sales Promotion Plan
Fero Beauty will have a loyalty program for its consumers. In every purchase, based on the amount of the product bought, the consumer will gain loyalty points. In return, when such points accumulate, the customer will be able to redeem such points to purchase any product item within the store. This will encourage consumers to make more purchases (Stafford and Faber, 2015).
Personal Selling Plan
Fero beauty will have an extensive personal selling plan. The company will have inside sales representatives who will constantly work with prospective consumers to guide them in selecting products and also in the sales process. They will guarantee that consumers find an ideal and satisfactory product item that meets their needs. Also, they will steadily develop and build relationships with prospective consumers to create trust and understanding. Furthermore, these representatives will be responsible for cultivating leads with the objective of conversion into consumers and management of any client referrals from prevailing consumers. When the campaign is done in-house, it implies that the organization gets to have a say in the direction of the advertisement and all other different aspects. Also, it increases tractability as change can easily be conducted midway through the campaign different from an external agency relationship. Also, the company obtains a sense of ownership, increasing the level of interest amongst its personnel as their objective is for the organization to succeed (Smith and Taylor, 2004).
Fero Beauty will also have a dedicated customer service. This unit will be exclusive and entirely committed to listening to any consumer queries, complaints, and suggestions and also compliments with the main goals of improving the product and services sold and the number of sales. It is imperative to note that Fero Beauty’s customer service will be both physical within the store and also online through live chats, direct messages, and feedback on social media platforms and websites. Consumers will be able to find an employee that will provide appropriate and satisfactory service during the specified working hours to meet any needs. Furthermore, to directly communicate with consumers, Fero Beauty will also include pamphlets that will request consumers to provide feedback based on their experiences and also comment and provide feedback on the online platforms (Andrews and Shimp, 2017).
Online and Direct Marketing Plan
Direct marketing refers to a promotional approach of presenting data and information regarding the company, its products, and services to the specific target market audience. One of the direct online marketing media tools used by Fero Beauty will be Instagram. Significantly, Instagram continues to one of the fastest-growing online photo social website services. Marketing using this media tool will provide Fero Beauty with a means of increasing its brand awareness and gaining reach of new consumers. Also, Instagram will serve as a progressively significant brand image building tool (Khan, 2018). Specifically, Fero Beauty will regularly upload pictures of the various clothing items and accessories on its official page and capitalize on using hashtags to gain greater reach. Also, the company will request its clients to post pictures of the items bought at the store and tag as a way of marketing the company and obtaining prospective new clients. More than 100 million people use Instagram. Therefore Fero Beauty can market and sell its products online directly using this platform.
Fero Beauty will also use Facebook for its online and direct marketing. Undoubtedly Facebook is the most renowned and prominently used social media tool across the globe. In recent times, Facebook has grown from simply being a website where friends connect and share information and pictures online, to a platform for businesses to market themselves via interrelation with consumers and also self-advertising and self-promoting (Palma, 2016). Fero Beauty will capitalize its official business page on the platform to advance its brand identity. This will be through sharing pictures, videos, and links associated with the product items being sold. Secondly, the company will employ Facebook Ads to reach a greater target market and social media reach for new consumers. Promoted posts and sponsored stories within the app will also be ideal for Fero Beauty in reaching a wider target audience. Facebook has more than 1 billion users. Capitalizing on this platform will enable Fero Beauty to cast a wider net on reaching its target audience (Al-Hadban et al., 2014).
Social Responsibility Plan
A social responsibility plan elucidates the business’ approach of taking into consideration the different stakeholders, including consumers, employees, suppliers, shareholders, and the community as a whole. The social responsibility plan for Fero Beauty includes the following:
1. Promoting clothing items and accessories that are environmentally friendly
2. Fero Beauty will raise awareness and provide insight to the community on environmental issues
3. Diminish environmental impact and consumption of energy within the retail store
4. Developing longstanding relationships with the suppliers in a way that guarantees sustainability, growth, and development of every one of them.
5. Ensure product safety for every item sold in the store
6. Respect the social and cultural diversity of consumers in New York
7. Guarantee safety and quality working conditions for the employees at Fero Beauty
8. Ensure that the employees are paid fair wages and are granted equal opportunities (Deepa and Chitramani, 2015).
Conclusion
The IMC plan for Fero Beauty will include conveying information through Facebook and Instagram. These will also encompass the company’s online direct marketing channels. The company will employ internal representatives and both a physical and online customer service team. Fero Beauty will also have a social responsibility plan aimed at product safety, consumer safety, environmental safety, and improvement of the community.
References
Al-Hadban, N., Hadeel, A. G., Al-Hassoun, T., & Hamdi, R. (2014). The Effectiveness of Facebook as a Marketing Tool (Saudi Arabia case study). International Journal of Management & Information Technology, 10(2), 1815-1827.
Andrews, J. C., & Shimp, T. A. (2017). Advertising, promotion, and other aspects of integrated marketing communications. Nelson Education.
Deepa, S., & Chitramani, P. (2015). CSR in retailing industry-a case of three retail stores. International Journal of Business and Administration Research Review, 3(9), 128.
Gould, M. (n.d). Pricing Strategies. Research Starters: Academic Topic Overviews.
Khan, S. (2018). Instagram as a marketing tool for luxury brand. International Journal of Management, Business, and Research, 8(2), 126.
Kotler, P., Armstrong, G., Ang, S. H., Leong, S. M., Tan, C. T., & Yau, O. (2009). Principles of marketing: A global perspective. Prentice-Hall.
Palma, A. P. (2016). Effectiveness of Facebook as a free marketing tool. University of Mindanao International Multidisciplinary Research Journal, 1(2), 21-26.
Smith, P. R., & Taylor, J. (2004). Marketing communications: an integrated approach. Kogan Page Publishers.
Stafford, M. R., & Faber, R. J. (Eds.). (2015). Advertising, promotion, and new media. ME Sharpe.