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:

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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…