Lint Clothing Limited: Marketing Plan
**Professor said my executive summary was good** Assignment 2: Part B: Your Marketing Plan Due Week 6 and worth 240 points From the start of this course, you have accessed the Interactive Marketing Plan tool and used the step-by-step guide to complete Part B of your marketing plan. You are required to submit a marketing plan for a hypothetical product-based company. Your plan must include the company’s mission, introduction and branding, and information collected from Step 5 of the Interactive Marketing Plan, located in the course shell. Note: Some elements may not be covered in the Interactive Marketing Plan and will require additional research. Note: You may create and /or make all necessary assumptions needed for the completion of this assignment. Write a four to five (4-5) page paper in which you: 1.Revise your executive summary from Assignment 1, based on feedback from your instructor. 2.Develop a branding strategy for your product that covers the brand name, logo, slogan, and at least one (1) brand extension. 3.Develop a marketing strategy for your product and determine an appropriate time table for execution of the plan (e.g., phase 1, phase 2, etc.). Provide a rationale for your response. 4.Develop a positioning statement which should include, at a minimum, a benefit, user, competitive, or innovative statement about your product. Provide a rationale for your time frame for execution of your positioning statement. 5.Examine the relevant marketing science of customer behavior for your product. 6.Develop your company’s mission statement and company introduction. 7.Use at least three (3) academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify as academic resources. Your assignment must follow these formatting requirements: •Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. •Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: •Analyze the marketing framework including the concepts of the 5Cs, STP, and 4Ps. •Examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing. •Evaluate the basis for market segmentation and approaches to segmentation. •Evaluate target customer segments and positioning products within these segments. •Examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing. •Develop branding strategies for existing and new products. •Use technology and information resources to research issues in marketing management. •Write clearly and concisely about marketing management using proper writing mechanics
Lint Clothing Limited
Name:
Institution: Executive summary
Lint Clothing Limited Company was founded in 2010, by three college friends namely; Mark Anthony, Anna Cain and Andy West. The company specializes in outdoor clothing for persons that love venturing into nature and the sports associated. This is part of the marketing plan that the company is going to implement in the next five years as it expands within the local market and the new American market (Easey, 2009). As part of the expansion plans, the company is going to establish a manufacturing plant in California at the cost of $3 billion dollars. It is also going to establish twenty more chain stores, five of which will be within England and the rest in California. These will set the company back some $1billion dollars. The company also plans to launch a company website in California to assist its clients; this will also be linked to the social media websites (Richter, 2012). To encourage more potential customers to participate in outdoor activities, the company will also launch promotional campaigns in the form of competitions and conservational activities (Lacobucci, 2014).
Company description
Started four years ago in the UK, Lint Clothing Limited is a company that was founded by three friends. Mark Anthony, Anna Cain and Andy West are the founders of the clothing company, which started off as a college dream. The three had a passion for outdoor sports and thus came up with a business plan to start their own company where they would encourage others to take part in outdoor activities. At the moment Mark is the CEO, Anna is the Marketing Director and Andy is the Finance Director. The main products; include baseball caps, cotton t-shirts, vests, fleece jackets, scuffs and sweaters. These are product lines that are targeted at persons who live an active life between the age of 22 and 50 making around $50,000 and $150,000 annually. Most of the products are distributed through chain stores to ensure reliable services and ease of access. Although most of the stores are in the UK, the company plans to venture into the American market starting with the state of a California (Lacobucci, 2014).
Mission statement
Be the leading company in the outdoor clothing, by proving our customers with the highest quality products inspired technology and innovation.
Branding strategy
Lint clothing company stands for quality, reliability and best prices in the market. As such the company is looking to produce products that are of high quality at the most competitive prices in the market (Finskud, 2009). The company is going to take a niche in the high quality brands category but will not charge the customers a premium much like most of the competition who charge high costs due to their brand names (Richter, 2012). For the purposes of ensuring that the different brands are selling freely in their market segments, the logos will be the same across all the brands. This way the company can easily take the identity of the products. At the same time the customers will be in a position to associate with the logo as a mark of quality across all the product lines (Finskud, 2009). To ensure that the logo is descriptive and the subtle yet simple, the company will use the famous eagle with its wings spread out taking to flight and with the talons showing. While the eagle’s beak and the talons will be colored yellow, the rest of the body will be black with streaks of white to signify the body features and contours. Below the eagle the logo will feature the famous company’s logo statement ‘Nature Play’.
The brand names on the other hand will be customized to the product lines (Finskud, 2009). This will ensure that the brands under the company do not cannibalize one another and the higher quality brands such as those for the professionals are not diluted in the process. As for the slogan, it will be standard to signify the company’s commitment to quality and outdoor activities. ‘Live your life and be one with nature’ will be slogan across all the product lines and brands (Finskud, 2009). As part of the brand extension, the company is going to bring out custom branding for luggage and clothing (Lacobucci, 2014). This will mean that customers can older their branding and patents on the same. This strategy is going to attract a segment of the market that would prefer to use their own creations on the products lines. The market has not had custom clothing at competitive prices and the company looks at commandeering this niche (Finskud, 2009).
Marketing strategy
The first stage of the marketing strategy that the company is going to take into consideration is to understand the client base in the two countries. This is very crucial as the company needs to focus on all the resources in ventures that are going to be fruitful. Part of the customer understanding a...