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Marketing Essay on Impression Marketing Plan

Impression Marketing Plan

Introduction

Impression boutique is located in Doha, Qatar and provides a wide range of luxury products, clothes, and ornaments that cater for the youthful shopper. The black and gold interior of the boutique allows for attractive display of the products which makes the shopping experience more exciting and memorable. This enterprise intends to introduce new and little known labels into the Middle East region and market with the aim of promoting local designers. In order to promote the young and local designers, the company will showcase their works alongside more established international brands. By incorporating elegant designs and feminine interiors, the store will target the chic Arabian woman. The marketing plan of Impression Boutique is outlined below.

Executive Summary

The unique slogan of the Impression Boutique is “Impression-a Second Chance to Make Your First Impression”. The boutique which began operations two years ago, was founded by two visionary ladies and has two outlets in Doha – one in the Pearl and another at Al Waab.The boutique mainly targeted the trendy young adults, and has recently expanded its stocks to include products for women, men, and children In its two years of operation, the shop has expanded to include two branches and has the intentions of opening even more outlets in Doha and other Middle East cities.

Impressions boutique sells a variety of products from both local and international designers and these include garments luxury jewel and ornaments. The past two years has seen the boutique gain massive popularity among both designers and fashion enthusiasts who load praises for its operations on blogs and other platforms. Some well-known designers have even frequented the outlets of Impressions Boutique and personally autographed their products for the clients. In addition, the boutique has hosted important social events, the most significant ones being the funds drives organized to help famine-stricken people in Somalia and the Cancer Society in Qatar.

The boutique intends to increase its share in the market by retaining its customers and also increasing the number of outlets in the near future. In order to achieve this, the boutique has to draw up a customized marketing plan that can guide it in its operations and attainment of the set goals. Investing in good customer relations is necessary and improving the customer experience will rank among the top actions in this marketing plan.

Situation Analysis

Having been in operation for over two years, Impression Boutique has already experienced significant success and attracted both the young and hip Arabian women as well as tourists and other shoppers who want to keep up to date with the latest fashion trends. had significant success for a company. Its strategic location in Doha, Qatar, and display of varied labels- both international and local has made it a unique shopping paradise for consumers.

There are both external and internal factors that affect this enterprise. These issues or factors can either promote the business or act as obstacles that make it more challenging to conduct operations.  Examples of external factors that Impression Boutique has to deal with include: political factors, economic considerations, technology, and social aspects.

The main political hindrance for this enterprise is the procedural paper work for import-export. There is a lot of paper work involved when importing garments for sale and the boutique faces delays in delivering particular products to clients. The strict policies of imports and exports practiced by Qatar often lead to delays in shipments. The management of the boutique has decided to adjust its timelines when placing orders so as to accommodate delays in arrival of foreign products and deliver them to customers on time.

Technology is also another challenge facing this boutique and this caused by the fact that Qatar is yet to adopt an electronic program of issuing gift cards and loyalty cards. As a result, some foreign clients, especially the tourists, end up discontent with the services offered at the boutique, considering that that they can get electronic gift cards and loyalty cards back home. being dissatisfied with the services offered by the boutique, in comparison with those offered at home. The enterprise has had to outsource everything and this has been very expensive. Additionally, most of the local clients are yet to familiarize themselves with this technology, hence leading to challenges in utilization of this program.

The steady growth of Qatar’s economy has created a conducive climate for business and hence attracted a number of foreigners who make up for a significant part of the clientele of Impression Boutique.

Socially, most Qataris are conservative, and the owners of this boutique were initially worried that they would not get enough clients. However, they were able to overcome this challenge by targeting the young shoppers, who are most likely to be liberals and tourists who are very warm towardsnew trends in fashion. By using social media and other platforms, information about the boutique has flowed easily throughout the world hence overcoming this challenge.

The SWOT Analysis Summary

Strengths

Impression Boutique has managed to keep up to date with the latest fashion trends by bringing in new products every fortnight. Compared to the competitors who usually make shipments every season, the enterprise has managed to attract many fashion conscious clients. Additionally, the enterprise also keeps changing the list of designers it sources its products from and this offers shoppers a range of variety.

The fact that the boutique also supports local designers has helped it to enhance its popularity amongst local shoppers. The fashion shop is also located at a very busy area in town and this has made it noticeable and easily accessible to its clients. The shop has also received positive reviews  on both online and offline avenues with regard to its products hence increasing the confidence of its clients. The shop has also been well planned with a centralized computer system that makes it easy to transact business in a timely and efficient manner. The boutique has also invested in qualified and fashion conscious staff making it easy for clients to be served and guided by professional fashion trendsetters.

Weaknesses

The major weakness of the fashion shop is that it only has two outlets, one in Pearl and the other in Al Waab hence it cannot cover Doha well enough. The wide client base in Doha necessitates the opening of new branches. Additionally, delays in shipments have caused the boutique to postpone certain orders and incur lateness in providing the clients’ needs. This has caused discontent among some of the customers. By limiting their target to young adults, the enterprise has limited its market yet it could reach out to a wider client base.

Opportunities

From the reviews given by clients, the boutique has potential and can build a competent level of customer loyalty. There are also high chances of good reception among clients, should the shop choose to open other branches in other parts of Doha and in other cities in the Middle East. Plans are underway for the boutique to expand its product-line to include men, women, and kids’ items in its catalogue and this is expected to increase the customer base. By introducing online shopping services for foreign clients interested in local designs, the enterprise may not only increase its revenues but also  maintain the loyalty of customers no longer residing in Qatar.

Threats

The threat against Impression Boutique comes in the form of rival departmental stores that trade in luxury items and clothes, as part of their catalogue. Clients who visit and shop in these stores are likely to revisit them and buy varied products including those offered at Impression.

 Marketing Strategy

The marketing strategy for Impression boutique is aimed at enhancing customer loyalty. According to research carried out by Forbes Magazine, increasing the retention rates of a company’s clients by just 5% can lead to a revenue increase of between 25 and 95%. Some of the measures the boutique intends to use in order to increase client loyalty include:

First, Impression Boutique will employ very friendly and talented sales persons who can make the clients feel at home and valued hence retain their loyalty.  The employees will also be in charge of following up with the clients and give them clarifications on any of their questions regarding our products. In case a client raises any complaint concerning their purchases, the employees will handle them promptly and compensate them where necessary.

The shop will also update its social network pages constantly and employ social network administrators who will interact with the clients at a personal level through Facebook, Twitter, and Instagram pages. The clients will be able to use these platforms to make inquiries regarding products, quality, prices and origin among other things. Such inquiries will be handled in a professional and timely manner.

In order to personalize services for clients and make them feel valued, the shop will be sending clients gifts on their special occasions including birthdays, special anniversaries and graduations. Additionally, the shop will send out personalized holiday cards, electronically and physically to customers as a way of appreciating and valuing them.

Every referral made will be rewarded with attractive discounts and each new customer will be asked to give details, if any, of the clients that led them to the shop for the purposes of offering such rewards. Clients will also be given the chance to try on the latest trends of clothes and have their pictures taken for free in the booth of the boutique. There will also be a kind of lottery where the clients whose pictures are taken will be required to submit the photos and in case they win, their photos will be used on the advertising billboards for the boutique. The clients whose photos appear on the billboards will be paid royalties for their appearance.

Customers will also access information on varied activities  that will be held or organized by the shop. They will also be sent for invitations to attend and participate in such activities. This will include attending receptions and rubbing shoulders with the recognized designers of both local and international repute as was the case in the previously held fundraiser for helping the hungry in Somalia and the cancer societies.

When new products arrive, customers will be alerted on time so that they do not miss out on any trends or particular items that they like or desire. Additionally, the clients who had placed their orders will have their products delivered to them with the exact specifications they requested in terms of color, size and pricing. Both the clients within and outside Qatar will receive their order on time and the management will work to ensure that despite the shipping problems that are common in Qatar, their deliveries are made on time. Follow-ups will also be made to ascertain that the clients who receive their orders are satisfied.

Impression Boutique will take into consideration the input costs, market conditions, and the actions of the competitors when pricing the products. The shop will use attractive prices as a market penetration strategy that will attract new clients and expand their clientele base through the use of word of mouth from the content and pleased clients.

Currently, the shop targets mainly the young adults who may have both older and younger relatives in need of fashionable clothes. These may be in the form of parents who have money to spend and kids whom they would want to dress well. In light of this, the shop will retain the young Arab woman as its major target client, but diversify its stocks to include products for men, women and kids as well.  The shop will promote its products more intensively through the use of social media and will also create an optimized website. The website will provide information regarding all its products for both the long-time clients and the newly interested ones. There will also be a regularly updated thread of honest product reviews from the shop’s clients.

Financial Projections

This firm’s financial objectives are

  • to raise its net profit;
  • expand the size of operations;
  • to achieve returns from the invested capital.

Currently, Impression Boutique makes approximately QAR 4,000,000 per year in sales. The sales costs amount to QAR 1,000,000 while the operation costs are QAR 1,472,700. Having deducted these costs,  the net profit left is QAR 1,527,300. Over the next year, this amount is expected to reduce by QAR 100,000 because of the new marketing strategies that the company intends to implement. The second year will be expected to yield a net profit increase of QAR 250,000 such that the company will earn an overall net profit of QAR 1,677,300. From then on, the net profit is expected to increase by QAR 25,500 every year. The projections cover each of the two shops currently operated in Doha.

The firm has intentions of opening three new branches in Doha city within the next five years. The company will borrow loans from Qatar National Bank to finance these new ventures and each of the branch is expected to cost QAR 12 million to set up. It is expected the new shops will break-even financially and start making profits within two years of launching. This means that within the next five years, Impression Boutique must have saved more than QAR 9 million in Qatar National Bank in order to qualify for a loan of QAR 36 million for its expansion venture.

Implementation Controls

Implementation controls are usually put in place to help in guiding the implementers as to whether to follow through with or modify it given surrounding circumstances and factors such as unfolding events, costs, or time. It guides the process of implementing specific strategies from the formulationlevel to the achievement of objectives.The implementation controls will include:

  • a well written, specific and established marketing plan that is mutually agreed upon and against which change can be measured;
  • mechanisms of tracking changes and variations within the plan;
  • control of the actual changes in order to minimize their effects on the marketing plan deliverables.

Monitoring key events in implementing the strategy is important as it can help to ensure that decisions undertaken are in line with the plan. For instance, after six months, the shop would assess the number of new clients and the second-time clients who visit the store. The company could also track the comments and reviews of the clients regarding their shopping experience on their websites to determine whether they are on the right track or not.

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