Marketing plan for Vet Life Apparel company sales growth

Marketing and Increasing Profits / Marketing Plan: Vet Life Apparel

Strength

Weakness

Opportunities

Threats

Trends

Customer Service

The Price

Promotion

Sales and Profits

Competition

Direct Competition

Indirect Competition

Vet Life Apparel

Vet Life Apparel, based in the Wilmington NC is owned and run by two Marine veterans Corey and Kevin, who after completing their active duty service and having participated in a number of combats decided to venture into the private sector. Vet Life is creative and full of purpose. This is why it will always give you something to wear and give the veterans community something to be proud of. Vet-Life raises awareness about PTSD, helps the homeless veterans get off the street, and helps the disabled have access to living conditions through nonprofit charities (Vet Life 2016).

The objective of this report is to discuss a marketing plan that can help the company increase its overall sales.

1.Mission

To manufacture more than patriotic apparel, i.e. giving back to those who give more (Vet Life 2016)

2. Product/Service offering

Vet Life is a company that specializes in making patriotic t-shirts, head wear, gear accessories. The company is not just focusing at the military veterans but also honoring both Patriots and Responder. It pays tribute to warriors who have been in military service at any time. Vet Life goes beyond the clothing line and typical apparel (Vet Life, 2016)

Trends

The digital marketing entices clients to play a leading role today. The Company target customers outreach as its shoppers, hence increasing personalized offers. This can increase the volume of customer's data and ability to deliver on the targeted outreach. For instance, there is a shift from using general email to using emails that targets a particular clientele, and which results in an increase in the browser-to-purchaser conversion rate.

The company has an option of seeking to adjust its promotional strategies. This will help it benefit from transactional data and understand the impact of the changes on the size of sales as well as metrics. Retailers can experiment with different approaches so that they can identify the promotion that drives sales up and increases the size of the basket; without necessarily reducing the profit margin. If a test indicates a promotion of $10 off from purchase promotion of $50, it would increase the transaction volume and the transaction size, while the BOGOF (buy one get one free promotion) may not generate enough purchases to offset margin erosion, then companies that measure consumer response using a transaction lens may succeed if they can refine their promotional strategies to help improve their margins. The company should also integrate its performance metrics in the channels so as to understand the effect. By doing this, it will enable them understand how it impacts the business. This helps to look at transaction composition, the frequency, and the size differences when the customers are allowed to use different purchasing services. This kind of insight helps to inform sales executives about the optimal way of implementing the programs. For instance, if the company discovers that the in store pickup offer results in a smaller transaction size because it reduces impulse buying, in such a case, the company may actually want to test different options that may be used to mitigate the effect. The company may want to test if a purchase threshold for a certain service helps to reduce the units per transaction. Also, the company may want to customize the in-store experience using the mobile technologies and also adopt inventory management technology. (Howard 2015)

Historical Results

Customer Service

Since the start of the year 2016, the company has been providing good customer service and has been able to give the customers a feedback, a thing that makes the customers get more satisfaction resulting in an increase in the company's customer base (Vet Life, 2016).

The Price

The price strategy adopted is aimed at meeting certain objectives and providing added value. (Vet Life 2016).

Place

Information is provided to the customers through the internet and advertising. The delivery channels used include use of shipping companies and online retail stores. (Vet Life 2016)

Promotion

The focus has been to use print ads and publications as well as the internet, prospective customers as well as direct mail campaigns. Public relations is also another method that can be used to assist develop relationship that assures a good working relationship (Vet Life 2016).

Sales and Profits

The sales and the profits of the company have been increasing ever since the company was established in 2015(Vet Life, 2016)

Competition

1. Direct Competition

The company has a number of competitors in the industry. They include: UniqueSquqred.com, Shop Jimmy.com, Ideeli, VIP International Saving.com, Amazon, BulkReefSupply.com, Vet Depot.com and Wild Creation. These are the top most apparel stores in U.S.A (Inc., 2012)

2. Indirect Competition

Food Lion and Walmart offer indirect competition since most customers want to actually spend more dollars in their outlets (Glass door, 2015)

Conclusion

Vet Life has a bright future. It enjoys emotional attachment given that it serves veterans and helps the needy when a purchase has been made. This gives them an upper hand. However, the company should expand its parameters to reach the masses. This can help them adopt distinct strategies in the near future. This will not only increase the number of customers they serve but also increase their margins.