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Marketing Strategy

Essay by   •  October 24, 2010  •  Essay  •  341 Words (2 Pages)  •  1,822 Views

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New Era Caps

Marketing Plan

There are four factors involved in developing a successful Marketing Strategy: Product, Pricing, Place, and Promotion. I will explain how using these 4 factors will lead to the success of selling my product.

Product:

The product line will include styles for all people, including men, women, and children. It will not stop there. New Era will manufacture caps for the urban customer, meaning those living in or near the city. Designs will have coordinating colors consistent with popular trends. The Suburban customer, Suburban meaning the customs and manners typical of life in the suburbs, ex. Skateboarding, snowboarding, any action sports type person, and the Fan customer, being the person who is all about the team colors and wearing the same caps the actual players wear.

The different varieties of caps will be fitted, stretch fit, open back, even toques. Caps will be designed based on sports team color specifications, and custom colors and creations based on current fashion trends.

Pricing:

New Era Caps will be priced according to the Geographic location of the Customer. Customers will want to buy New Era Caps before any other caps because they are priced competitively, and offer a "Made in USA" product. New Era will promote an ongoing "Buy 9 caps get the 10th free" sale for the customers, giving them incentive to being repeat customers. We will also run sales on special occasions to promote our product and remind the customer we are always thinking of them. Customer service will be a top priority.

Place:

New Era Caps will be readily available to everyone. New Era will have retail stores around the country in strategic locations, specifically in or near large and medium sized cities and large college towns. We will have flagship stores, kiosks in malls and/or colleges, and shops-in-shops. New Era will also be available on the internet. We will design a web site that customers will want to visit and revisit. It will be interactive with multimedia elements, easy to navigate, attention-grabbing, and will also advertise sales and upcoming specials.

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