Marketing Plan

1.0 Introduction

Cameren Dare’ Adornments is a start-up that seeks to develop quality jewelry products that are unique to the clients’ tastes. Additionally, the company aims at creating jewelry that enhances the self-esteem and self-confidence of clients by providing them with opportunities to showcase their personalities using jewelry. This paper will further explore the marketing plan by incorporating the feedback that was received in Part B of the plan and discussing deeper insights into the plan. The paper then proceeds to  outline the  pricing and the distribution strategy that is adopted by the company. A deeper insight of the promotion and integrated marketing communication follows before a conclusion.  

2.0 The pricing and the distribution strategy 

One of the vital aspects that determines the success of a business as it is noted by Nagle and Müller (2017) is the pricing strategy that is adopted as the price can either attract or drive away consumers. Nagle and Müller (2017) continue to state that there are various pricing strategies that can be adopted by a business and they include the premium pricing and the penetration. The premium pricing which is also discussed by Hinterhuber and Liozu (2019) as the price in which a company sets the cost of its products or services higher than its competitors may not be the most appropriate for Cameren Dare’ Adornments. This is justified by the fact that the positioning of the company intends to offers quality products at a moderate price and thus adopting a premium price would contravene its positioning strategy. Although Hinterhuber and Liozu (2012) note that a premium price is best for a small business in its early stages of product life cycle as it helps the consumers perceive the product of the company to be of desirable quality, it is also integral to note that setting high prices is likely to make the products less affordable to the target consumers. 

Looking in the penetration strategy Liozu, and Hinterhuber (2013) describe this strategy as the market entry price in which a company offers lower prices than the prevailing competitors price as a way of attracting consumers and to help a company gain market share quickly. However, prices are then raised after a company has launched it prices. This strategy is the most effective strategy for the Cameren Dare’ Adornments as it allows the company introduce its products in the market and attract consumers who get to attain consumer awareness about the company and its products. The pricing strategy will also make the company gain a market share in the highly competitive market. However, Hinterhuber and Liozu (2012) argue that this strategy may lead to losses in the initial stages of the introduction of products in a market. As such it is essential that raise of prices is done as swiftly as possible after few months of the launch to avoid making losses(Nagle and Müller (2017). Cameren Dare’ Adornments will thus ensure that intensive marketing for the company is carried out to ensure that it gains popularity among consumers so as to raise the prices gradually to start realizing the profits. 

2.1 Distribution of the products 

  In the contemporary fast paced world, distribution has emerged as one of the enormous competitive advantage that any company can capitalize on. This is coupled with the aspect of globalization that sees that companies can target consumers who are across borders Berthon, et al., 2012). The most commonly applied distribution strategy as Chikweche and Fletcher (2012) illustrates is the indirect and the direct strategies. The indirect strategy involves the use of lengthy channel of distribution and as it involves a high number of contact persons before a products gets to the consumers. Such would involve manufacturer, the wholesaler and distributor, the retailer and finally the consumers. This is a traditional form of distribution which has been criticized by borders Berthon, et al., (2012) as being too rigid and too slow and thus delays the time in which consumers receive the product.

As such Cameren Dare’ Adornments does not adopt this method as the company seeks to stand out among its competitors who are commonly using the indirect strategy. As such the most effective distribution strategy will be adopted by the company is the direct distribution strategy which is defined by Chikweche and Fletcher (2012) as a strategy through which a company directly sends a product to the final consumer without the middle persons. This method has been applauded by Berthon, et al., (2012) as an effective method especially for upcoming companies as it allows a consumers to get their products on time. In addition, the strategy helps a company maximize its profit margins because of the reduced number of middle men. Cameren Dare’ Adornments will make use of this distribution strategy especially because  most of its products are personalized and thus does not need a middle distributor to distribute personalized items. Additionally, the direct contact to consumers will make them feel appreciated by the company which will lead to increased loyalty which is a targeted growth strategy for the company. 

3.0 Integrated marketing communication 

Luxton, Reid and Mavondo (2015) write that integrated marketing communication is the most important aspect of a marketing plan as it elaborates how a company intends to reach its marketing message to its consumers. The main objective of the intergraded marketing communication is to bring together all forms of communication and messages and link them together with an intention of reaching out to the target consumers and informing them of the existence of a company’s products (Schultz, Patti and Kitchen, (2013).  It involves careful integration of the promotion tools to ensure the tools harmoniously reach out to the consumers. Therefore with this background aim, Cameren Dare’ Adornments must thus come  up with an effective integrated marketing communication strategy that must convince its consumer’s of the suitability of the company’s products. To attain this , the company will mainly be guided by two major strategies of integrated marketing communication and they are the vertical integration and the external integration.

Thorson and Moore (2013) state that vertical integration means that the marketing and communication activities of a company support or are aligned with the overall objective of the company. The main objective of  Cameren Dare’ Adornments is to develop high quality products that will help the company attain the trust of the consumers. As such, it will be essential to ensure that the marketing message that is put to the consumers is able to convenience the consumers that they can trust the company. The message that mainly will be put out to the consumers is that the company uses handmade jewelry to make the consumers stand out and this is the concept of uniqueness. The motto of every promotion message and communication message must have a tag ‘Making you You-nique’ correctly outlined and highlighted as a method of informing and persuading the consumer the essence of purchasing from Cameren Dare’ Adornments. This message will be the tag line for the marketing promotion. Constant mentioning of the tagline will help in Brand recall of the consumers especially if it is easy to remember. This is as illustrated by Reinold and Tropp, (2012) who note that when a company has a simple and easy tagline or promotion message, it makes it easy to attract consumers as consumers can easily remember the tagline thus brand recall. 

Additionally, external integration will be necessary as the company will need to make use of marketing agencies. Luxton, Reid and Mavondo (2015) write that external integration involves the collaboration of a company and its external marketing partner such as the advertising agencies to ensure that they are able to deliver a cohesive message of marketing. Therefore, Cameren Dare’ Adornment seeks to work with leading public relations companies in Virginia such as Adams outdoor advertising as it will help in implementation of specific marketing strategies such as assistance in Public relations that will help the company reach positively out to a huge and wide number of consumers. 

Besides it is vital to note that Cameren Dare’ Adornment intends to make use of a variety of media to reach out to its consumers. Considering that the company targets consumers is in the age gap of 25-40, it is more efficient to use the mass and social media. Research by Bolton et al., (2013) shows that majority of US consumers aged between 20-45 are available online on online social sites and as such a company seeking the attention of such a target group would be best suit to utilize the social media. Here, avenues such as the social media networking sites such as Facebook will highly be used to market the products of Cameren Dare’ Adornments. Mass media would also be highly applicable for Cameren Dare’ Adornments to reach to the same target group as it has an inclination towards the use of You tube channels as opposed to the traditional mass such as TV. This is because Bolton et al.,(2013) indicate that in the US most of the consumers aged between 20-45b are now adopting the You tube as their preferred channels as opposed to TV. Posting adverts in Youtube will be a  major concept that will be used to  reach out to most consumers. The company could also open its own Youtube channel where it gets to communicate and promote its products as well as interact with consumers from this platform. 

While adopting to these strategies, the company will also focus on public relation, sales promotion and personal selling strategies of products promotion. The sale promotion is specifically important as it involves persuading a potential customer into buying a product. This process as Chikweche and Fletcher (2012) notes must mainly aim at consumer who are likely to have repeated purchases. As such the best mode of sales promotion that will be adopted by Cameren Dare’ Adornments is the free gifts strategy. Here, Cameren Dare’ Adornments will mainly attach a smaller jewelry to the main product bought as a way of maintaining the customer. However, this is preceded by the use of point of sale materials such as the posters on both the social media platforms such as Facebook and the mass media as a way of letting the consumers know that the product does exist. These will be frequently be posted on the social media network platforms where many consumers can easily access the information. The gifts will then only be awarded to consumers who make repeated purchases. Loyalty cards will also be used where the company will ensure that every time a consumers makes a purchase they can then earn points that can make them earn a gift form the company after accumulating points to a certain level. 

Personal selling will be applicable via the social media platforms. In this case, there will be a social media employee who will be responsible for having conversations with consumers seeking information on the social media platform. The main aim here is to have consumer attended and their question in regard  to the company’s products answered. Here, it is as explained by Castronovo and Huang (2012) who argue that with the dynamic changes of technology such as the growth of the social media networks, certain aspects of personal selling are changing and more effective ways for personal selling have emerged. For example, traditional personal selling in stores is replaced by online personal sales. This will be cheaper on the company and it will increase more interaction between the consumers and the company and the company does not have to rely on stores to reach to its consumers..  

There is utmost need to ensure that public relations for Cameren Dare’ Adornments is made effective. There is need to market  the brand of the company to ensure that consumer can easily recall the company which will help in creation of a strong relations between the company and its target audience. One of the ways that will be vital in marketing the brand will be through creation of a website with accurate information about the company, its intent, contact and its activities. This will be in collaboration with a solid social media presence of the brand and ways in which it responds to the consumers needs. 

4.0 Social responsibility marketing plan

There are several ways through which a company get to position its brand apart from the usual promotion ways and Thorson and Moore (2013) note that it is social responsibility is among the most effective methods after brand promotion. Cameren Dare’ Adornments will seek to take part in community activities such as use of recyclable packaging as a way of protecting the environment in which it operates in. The company will be active in social media to promote such events and even sponsor events directed towards protection of the environment. This will mainly be vital as it will attract consumers who seek to make a positive difference in the society. Cameren Dare’ Adornments will carry activities such as every once in 3 months of every month, consumers would be awarded price discounts that would enable them purchase more than 2 items and the campaign would be to facilitate tree planting not only in Norfolk but also in many parts of the world where the company can access its consumers. 

4.0 Sustainability of effective marketing plans

One of the ways through which a company can monitor the sustainability of marketing plans especially in jewelry industry is through the monitoring of the sales. A marketing plan is only effective and sustainable in a company if there is an increase of sales. Pereira, et al.,(2019) note that the aim of any marketing plan and a marketing plan sustainability can only be determined if the sales show significance change at the end of a marketing campaign. In this case, Cameren Dare’ Adornments would only sustain the marketing activities that leads to increased sales as the main aim of any marketing plan is to boost sales. Another measure of sustainability of a marketing plan would be the increased consumer awareness of a the brand. This will be measured by the number of views on the YouTube channels and well as the followers on the social media websites. Athwal, et al., (2019) note that with the growth of technology it has become simpler to monitor the effectiveness of the marketing plans based on the consumer views and following on the social media platforms. The higher the followers for ,,,,, on social media the more effective the marketing plan is and thus sustaining the strategy.

4.0 Conclusion

In summary, this paper has discussed several aspects of the marketing plan in relation to the sale of Cameren Dare’ Adornments jewellery products. The pricing strategy suitable for the company is the penetration strategy assisted by the direct distribution strategy. The company would best adopt the personal selling, public relations and social media marketing as the main methods of selling its  marketing message. Only the strategy that lead to increased sale and increased followers on social media are maintained.

References

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