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Marketing Plan - Metamorph
Sep 14, 2017 in Marketing
This business plan shows the details of required factors needed to start and grow, according to Keller, (2008) in his popular book Strategic Brand Management. The business plan helps a new business to get established in the right manner without any future regrets. Concerning the case, this is Metamorphâ€™s fashion house Ltd (Metamorph). It also shows the projected sales and revenue levels as well as the financial activity. Like the name, Metamorph is a company that creates the new forms of high heels from the already existing styles and makes use of organic materials. It combines the designs acquired from nature and use of organic eco-friendly materials. By doing this, we give a customer the whole new range of heels to choose from. Our target group includes the fashion risk takers that are willing to take fashion to the edge. We also include the side lined groups such as pregnant women, a plus size as well as some sport/athletic lovers mostly from the developed and developing markets. We also have the whole range of fabulous heels for fashion lovers.
Our market segment includes the plus size .These are the big footed people that find it difficult to find the comfortable heels in the normal markets. We also make the clinically approved heels for expectant mothers that are normally restricted to flat shoes. Our latest innovation is the â€œwork outâ€ heel. This is a ventilated fabulous heel that allows women to look sexy even being in a gym, while jogging or even while going hiking. It is fitted with the technology that enables women to check their weight, pulse rate and pressure levels while working out (Dibb & Simkin, 2008).
The research shows that an increasing number of women are now working out and participating in sports and, therefore, gives them a chance to look beautifully even as they keep their bodies in a good shape will definitely be welcomed. Also people are always having babies. Therefore, there will always be customers for maternity heels.
The company has considered the licensing of renowned shoe companies to make the designs. It is more affordable and practical for our business. The expected revenue is 3.60 million per the 1st year and over 30.5 million in the next 5 years. Our market strategy has involved the online and outdoor marketing such as banners and posters, displays as well as giving out pamphlets, magazines and radio and television advertisements.
Brand Overview and Strategy
Our main brands include a range of gorgeous high heels designed with inspirations from plants, animals and nature. These include the stylish high heels such as wedges, boots, stilettos, pump, evening sandals and kitten heels. The â€œworkout heelâ€ is a comfortable, waterproof and secure shoe for participating in sporting activities such as jogging, skipping and gym workouts. It is fitted with shock absorbing materials that protect a wearer from injuries. The need for ventilation is also well taken care of through an air exchange technology. It lets out the humid air from the shoe inside and provides with the fresh air inside with every step taken. This high heel can be custom made to fit different sizes and weights of the users as explained by Keller in the Second Chapter about management issues (Keller, 2008).
The plus size heels are basically all types of high heels but with an extra fitting size designed for the plus sized feet that do not find the sizes easily. They include stilettos, a pump, evening sandals, boots kitten heels or wedges. The â€œmaternity heelâ€ includes high heels designed for expecting mothers. They are made with the extra cushioning to ensure comfort for a mother. They are also fitted with the device that allows the user to check the current weight, blood pressure and pulse rates.
The company will distribute these special high heels for all leading shoe outlets across the country to ensure that every woman has an access to them. The company will also have a strategic advantage as it targets the â€œignoredâ€ groups as far as high heels are being concerned.
The short term goals of Metamorph Fashion House Ltd are to bring on board these groups of women to experience the magic of the stiletto while still being protected in their delicate situations. The long term goal includes the following ones listed below.
By 2015, our company hopes to have designed more secure high heels for pregnant, plus size and sporting women. We also hope to use more organic materials in creating our high heels in order to promote the environmental conservation efforts. Keller (2008) also explains how companies should have the unique organization goals for a business success.
Market Share Goals
By 2015, we hope to have penetrated the fashion market by offering more appealing designs to beat the already existing styles. By using natural inspiration, our company hopes to create a beautiful appealing and classic high heels for all kinds of tastes (Rhea, 2007).
Government Partnership Goal
The company will promote the government efforts of conserving the environment by creating eco-friendly high heels. This will help in controlling the garbage especially a non-bio degradable type. Our company hopes to convince the government to allow the women in a uniform looking beautiful in a special kind of high heels while still doing their duties. These will include wedged and heeled boots that are waterproof, secure and strong enough for the heavy military activities.
By 2015, the company hopes to have expanded its product lines to include a wide range of products reaching out to the unreached groups of women in the high heelsâ€™ business. Such would be the high heels for children and teenagers. We will also strive to create as many different nature inspired high heels from the variety of flowers, trees, plants and try to capture different kinds of nature.
The company hopes to come up with the new and unique ways to overcome the competition by offering products that our competitors do not offer. Another one of our long term goal is to double our revenues every year within the next five fiscal years.
Customer Service Goals
To meet all the customer needs and receive a feedback concerning the products. We also hope to use such research methods as questionnaires in order to understand more about the clientsâ€™ needs. We also hope to give the response to our customers through incentives such as free checkups.
The company will strive to encourage our employees to be the risk-takers and think outside the normal situation in order to create unique designs. The company hopes to reward the most creative employees and include them into sharing the profits of every sale of their designs made.
Owning a pair of heels is every ladyâ€™s dream. However, sometimes it becomes difficult to achieve this dream. This is when the lady is a plus size or when she is expectant. Sometimes, it is also not possible to enjoy that pair of heels especially when doing vigorous activities such as exercising and sport activities. The women in the uniform are also restricted from wearing heels at their work place to make their work faster. This is where our company hopes to tap a market.
Due to the high competition in the fashion world and the need to create unique products for each client, the use of nature has inspired designs to give our clientsâ€™ the classic, unique and gorgeous high heel shoes. This is because the nature always remains relevant and beautiful throughout the changes in time. According to the 2011-year estimates, the number of women is far more than 60,000,000 around the United Kingdom and ten times more in the European Union. The US market holds over 100,000,000 women. Out of every 20 women, at least one of them is expectant at any particular time.(population estimates,2011.) This shows that the company will have enough clients for the â€œmaternity heelsâ€ as people will always be having babies. The company will consider the other upcoming markets such as the Asian and African markets. At least, a quarter of these women live above the poverty line. This means that they can afford one to several pairs of high heels (Keller, 2008).
Also due to changing trends and a growing need to exercise and be fit, most of these women have turned to the gym or are engaging into such sports activities as jogging, skipping, the use of exercise tapes and video at home. According to the athletic foot wear association, most of respondents have stated the comfort, a correct size and a style as the main factors that they consider when purchasing sportsâ€™ feet wear. Other important factors have included the fashion and versatility. Some dislikes that they have given about their sportsâ€™ feet wear have included the smell and sweat, and the too hot and poor materials. Often they always have to shift to flat shoes when exercising due to the risk and discomfort involved with exercising on normal stilettos. Some of their wishes have included having stylish, comfortable, sweat and water free, and heat free as well as soothing soles for their work -outs. This is where Metamorph has come in with its unique design of the â€œwork out heelsâ€ that are both safe and comfortable to work out in. Their incorporated technology of aeration makes them even better as they are sweat free. They can also keep their heart and pulse rates in check as they are exercising. These heels can also be used for all other events and are not restricted to a gym alone. Keller points out in his book Strategic Brand Management that consumers are very important for any organization in terms of realizing the set objective of the company.
The company will also sell comfortable heels with the extra cushioning ranging from wedges to stilettos for all other ladyâ€™s needs such as wedges for outdoor, kitten heels for children and the elder people, heeled boots for night outs and a famous dinner stiletto. The company will mainly offer our clients the fashionable, risk free, comfortable, sweat free versatile, lightweight, of the good quality and unique heels as well as a whole range of high heels to choose from. We will also target women that have been ignored by other high heel manufacturers such as the plus size. They often encounter a lot of difficulties in finding their shoe sizes. Their feet range from the size 11 and above.
Our company will also aim to design the unique styles of high heels by using different types of materials especially the environment friendly materials and altering the designs. Our designers will strive to think outside the normal manner in order to develop the unique and stylish high heels.
The External Environment
The political factors are likely to influence on our business government intervention in the maternity health of expectant women through the regular checkups carried out for all pregnant women. Our companyâ€™s main assignment will be to prove that our maternity high heelsâ€™ brand does not have any negative effects on a mother and a baby. Also, the government holds the strict restrictions on the dress code of the Special Forces including the police and the military. Our work will be to demonstrate that a woman can be both sexy and effective at work while wearing the pair of our specially designed high heels.
Some of our economic concerns will be the interest and inflation rates and the exchange rates. Interest rates will affect the cost of acquiring a capital. Our company will hedge against such risks by borrowing from friends. Since the company will be licensing its designs to prominent shoe makers, it will not require a lot of capital. The companyâ€™s main job will be to place the already made shoes at stores for sale. The remaining capital can be raised via friends and a family. We will also welcome any environmentâ€™s supportive donors. Exchange rates will also play a major role in determining the companyâ€™s profit margins. The company will apply hedging methods such as forwards, leading and lagging to protect the companyâ€™s profits (Mercer, 1998).
Such technological advancements as online marketing will be advantageous to the company as it will allow it to display its products to the whole world. Also, the use of the advanced research and development techniques will also play a big role in creativity. The technology will as well assist the company in outsourcing for skills from across the world. This is possible as individuals can send their creative works online. The company can then go ahead to reward all appealing designs and forward them to the licensed shoe makers to do the production. Once this is done, Metamorph will take the charge of marketing the finished products.
Environmental aspects are also playing a major role in the kind of products that customers choose to consume. Our organic shoes are best placed to meet these concerns. Our products will help to conserve the environment as they are made from the degradable materials.
Some of legal concerns will include health regulations by the government through the Ministry of Health on wearing high heels. Our company will aim to convince the government and consumers that the high heels are safe for both a baby and a mother. We will also convince the government to purchase our high heeled boots for the women in the uniform to allow them feeling beautiful while still working efficiently.
The use of recyclable materials will also cut down greatly the cost of production. The reuse of old materials makes a project environmentally friendly. It also allows people to sell their old materials to the company and earn some money.
Our proposal will beat the recession as it will provide products that are pocket friendly and affordable by our target customers. Since our high heels are also versatile and can be used for various activities, they are budget friendly. The online marketing and outsourcing system will also give back some of the income to our employees being also the potential consumers.