marketing plan - country road 2016 part1

MARKETING PLAN Charmed X three

EXECUTIVE SUMMARY

To fully understand the complexities and issues faced for retailers in the present day, this report performs an in depth analysis of the current economic situation, and key factors impacting the market. The report includes a detailed examination of the target Country Road consumer, including the where, how and why behind their buying decisions. The current product range will be discussed, along with an examination of their competitors, which will determine Country Road’s position within the marketplace in comparison to their key competitors. An in depth SWOT analysis will also conrm how Country Road should move forward in the future in regards to their products and brand as a whole.

Part two of this report will outline the team’s ideal marketing strategy in conjunction with an analysis of Country Road’s current strategies. Taking a holistic approach, t his will include product strategies both tangible and intangible and the benets they will provide as well as ideal pricing strategies and the role they play in attracting a consumer. Country Road’s promotional strategies will also be examined as well as suggestions on how to improve them. Furthermore Country Road’s placement will be discussed including their supply chain, store locations and visual merchandising strategies. A purchase plan and a promotional budget will also be provided, detailing where money will be allocated in the teams proposed range. Recommendations for all these areas will be given, detailing how the team proposes to improve in each faction of the Country Road brand. The ndings of this report were conducted using primary and secondary data.

Marketing Plan - Country Road 2016

This report concluded that the current menswear market is predicted to grow steadily within the next ve years. The biggest hurdle faced by the menswear industry is the saturation of fast fashion brands in the Australian market. The Country Road consumer is also more conscious and aware than ever before, presented with overwhelming choices, requiring more to encourage them to make a purchase. In order to stay competitive, an overhaul of the price, product, promotion and place must occur. This would involve not totally redening the Country Road brand, but marketing it in a way that differentiates the brand from its numerous competitors. The marketing plan presented is one that fulls this objective and engages the consumer to encourage revenue growth.

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Content Executive Summary ............ .............. ............... .............. ............... ....... 2

PART TWO

1.0 Introduction

Marketing strategies and recommendations

............. ............... .............. ............... .............. ....... 4

PART ONE

5.0 Recommendations ......................... .............. ............... ........34

2.0 Current Market Situation ............... .............. ............... .............. .....6

5.1 Current product strategies ..............................................34-37

2.1 Market situation and overview of market ............. .............. .........6-8

5.1.2 Product recommendations ............... .............. ............... ...38

2.1.2 Target market

............. ............... .............. ............... .............. 9-12

5.2 Price strategies ....... .............. ............... .............. ............... ..39

2.2 Current product situation ............... .............. ............... ............13-19

5.2.1 Current price strategies ............... .............. ............... ........39

2.3 Competitor analysis (incl. positioning map) ..............................20-23

5.2.2 Price recommendations ... .............. ............... .............. ......39

2.4 Current distribution (internal (internal and external) ............. ............... .......24

5.3 Promotional strategies ... .............. ............... .............. ...........40

2.5 Macro environment .......... ............... .............. ............... .............. ...25

5.3.1 Current promotional strategies .............. .............. ........40-43

2.5.1 Demographic...............................................................................25

5.3.2 Promotional recommendations .............. .............. .............44

2.5.2 Political/Legal .............................................................................25

5.4 Place strategies ....... .............. ............... .............. ............... ..45

2.5.3 Economic ...................................................................................25

5.4.1 Current place strategies ............... .............. ............... ..45-46

2.5.4 Social/Cultural ............................................................................26

5.4.2 Place recommendations ... .............. ............... .............. .....47

2.5.5 Technological .............................................................................26 6.0 Purchase Plan & Promotional Budget ............. .............. .......48 3.0 SWOT Analysis .............. ............... .............. ............... .............. ..27

6.1 Purchase Plan ............. ............... ............... .............. .......48-53

3.1 SWOT Analysis - Brand ............... .............. ............... ........... 27-29

6.2 Promotional budget ............... .............. ............... ............54 -57 -57

3.2 SWOT Analysis for product category ............. ............... .............30 3.3 Issues analysis (Addressing the 4P’s) ............... .............. ..........31

7.0 Conclusion .......... .............. ............... .............. ............... ......58

4.0 Objectives

References .............................................................................59-60

............... .............. ............... .............. ............... ........32

4.1 Financial objectives

.............. ............... .............. ............... ........32

4.2 Marketing objectives .............. ............... .............. ............... ........32

Marketing Plan - Country Road 2016

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1.0 introduction

Country Road is one of Australia’s most established fashion brands, however in a market ooded by choice and competition Country Road is posed with the challenge of standing out to the savvy modern day consumer. This is where the value of a strong marketing campaign cannot be underestimated, as is an indisputable factor in determining the success or failure of a brand in the current  Australian market. The challenge lies in establishing the ideal strategies to appeal to the intended demographic. This report will outline a comprehensive marketing strategy, in conjunction with an in depth analysis of Country Road’s current business strategies, determining why and how Country Road should choose to adopt the strategies recommended. The ndings of this report have been determined using primary data in the form of ndings from the team’s previous market research survey, as well as a range of reputable secondary data sources.

Marketing Plan - Country Road 2016

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