Strategic marketing planning can be referred to a process, which is vastly driven by various marketing principles and concepts. The strategic marketing planning helps publicise the selected product in the chosen area. This is very important in the marketing planning because its productivity nature, which it supplies to its bearer. The set of marketing principles help narrow the broad segment of the market into many small segments, which provides handful calculative options to the marketing manager about the pros and cons of the chosen market (Hollensen 2015).
This assignment would focus on constructing the marketing planning for a manufacturing company, which is serving the clothing industry for the last 13 years. The manufacturing company is serving the industry with its varied range of products such as sports wears, casual wears, and children clothes. They are also involved in the exporting business with various parts of world such as North America, South America, Middle East, Eastern Asia and Western Europe (Homepage, 2017).
The main purpose of this assignment is to prepare a marketing planning for the manufacturing company in “India”, which is the chosen market for the company. The chosen product for the marketing planning would be the “children boys’ summer wear”. The marketing planning would include various required concepts and principles.
The targeting and segmenting theory states that it is composure of three important factors while planning for the marketing. These three factors come prior to the determination of the marketing mix. These three factors are such as segmentation, targeting and positioning, which is known as STP. Segmenting the market and targeting the appropriate customers help narrow down the vast market into small segments. This is highly important for achieving the maximum success and preventing the high-end losses. Nevertheless, making high investments before planning nothing for the segments is not at all safe idea. Chances of falling down of the plan in such circumstances would be very high (Baker 2014).
Market segmentation is one of the most vital factors while planning the marketing of a chosen product. The mentioned facts can well be understood with the help of segmentation and the targeting theory. The marketing segmentation of the chosen market is very complicated as the chosen market has the second highest population in the world. However, the segmenting theory would thus help the chosen company in planning accordingly for its chosen product. The chosen product is Children Boy’s Summer Wears. The product has the potentiality in it, as it is evident in the previous record of accomplishment of the company. The company is already engaged in exporting the manufactured products to some of the most vital markets across the globe such as North America, South America, Middle East, Western Europe and the Eastern Asia (Wilson and Gilligan 2012).
The chosen product is widely suitable to the current climatic conditions in India. This is because the current climatic conditions are very warm and unpleasing to the masses especially to the children. Children have to go to schools and to some other places like for picnic or the visiting purposes. This is when there is an utmost requirement of having something, which could protect the children from the scorching sunlight. The chosen product would then serve the needs of little children in India (Fifield 2012). However, India is a vast country, which makes it very difficult to decide the chosen city or town for marketing the chosen product. Nevertheless, in India there are two kinds of summer sensation such as sticky climate or the hot windy climate. Some cities have sticky climate such as Mumbai, Kolkata, and Chennai. In such cities, it is very difficult to predict the best suitable clothes, which could provide relief from the sticky hot climate. However, most other cities have hot windy climate where there are largely the hot wind blow throughout the day. Such cities are Delhi, Kanpur, Varanasi, Lucknow, Bangalore, Hyderabad, Ranchi etc (Solomon 2014). The best possible location for the marketing planning of the chosen product would be the city Kolkata. This is because of the fact that the city is already having some other kinds of exports into such as mobile accessories. The market segment for the first few months would be Kolkata. After successfully grabbing on the customer’s requirement, the company can head fork some other cities or towns of the same climatic condition as mentioned earlier in this section (Johnston and Bate 2013).
Selecting Kolkata as the first place for marketing is because of the fact that the city is already into some other kinds of exports business from China such as Mobile accessories. This would help the Kuer Garments Company gaining a good control on its customers, as the customers there are already aware of some of the Chinese products. They love the Chinese products. Some of the Chinese products have done some exceptionally well business in the past. Such products were the Chinese made phones, Chinese made Henna and Face Creams. Youths of this city had responded to the product tremendously (Terpstra, Foley and Sarathy 2012).
The target market for the chosen products would be those little kids who go outside with their parents and the families for having some fun. Places like Victoria Memorial, The Zoo, and Nicco Park have in large ratio the open areas. Therefore, it becomes necessary for such scenarios that their parents purchase some special dressing for their kids, which could provide them a sigh of relief from the stick hot climate of the city. They prefer wearing the dresses that are lightweight and are comfortable. Parents are very sceptic about their kids and truly so, this is why they never compromise on anything that provides comfort and luxury to their kids. However, other local manufacturers are well versed with the market requirements. The exported garments from some other parts of world are also available under the banner of some big brands such as Levis and Jockey. This would be highly competitive market as numerous local and international brands are already operating the target market. This is immensely important for the Kuer Garments Company that they analyze the market firs and then enter into the market. The market analysis would include such as existing prices and qualities of Boy’s Summer Wears (Nijssen and Frambach 2013).
Another thing that is needed to be taken care with utmost responsibilities is the shopping habits of the people living in the city. To understand the shopping habits of the people living in the city, it is imperative to frits know about the types of shoppers in Kolkata. The shoppers can be classified into three segments based on their economic status such as high-class people, middles class people and the lower class people. The lower class people rely on the smaller shops, which are easily available on the roads. The middle class people rely on some ideally recognized market, which are affordable in pricing such as New Market (Parente and Strausbaugh-Hutchinson 2014). The high-class people generally rely on going to some high class malls such as pantaloons, the South City Mall and different other malls. The main target-shopping place would be to touch the middle standard market where people search for quality products in reasonable prices. Moreover, this would also prevent the Kuer Garments Company from having direct competition from some big brands. Kuer Garments would only have to compete with some local companies, which is comparatively feasible to the financial capabilities of the chosen company. The company would get ample option to be flourished in the chosen market segment (Boone and Kurtz 2013).
Theories of perception states that every customer ahs some kinds of perceptions for their choice of products. However, their perceptions are affected by various factors such as buying behaviour in the surrounding and the effective sales skills of the salespersons. Sometimes customers just shop something by being influenced of a salesperson who tries to reframe the mentality of the targeted customers (Hill 2012).
Theory of exposure is another very useful theory in deciding the buying behaviour of customers, which states that if customers are given seven options if the same thing, they would be confused in making decisions. Therefore, it is important that Kuer Garments take special approach in arranging the different range of same products (Czinkota and Ronkainen 2013).
Theory of social status is another important aspect, which drives the changing behaviour of customers. The customers belonging to a high-end family would choose the product accordingly. On contrary to this, customers belonging to middle class family would prefer going to some reasonable places (Solomon 2014).
The above-mentioned theories are very important for understanding the consumer behaviour of the targeted customers. The chosen customers are the little kids living in Kolkata. The kids are generally dependent on their parents up to some notable period of their age. They are hardly capable for making the decisions. Kids who belong to the high-class family can make decisions in some instances as they are nurtured under socially improved family background. This is why their decision-making skills are superior to those of middle and the lower class families. Little boys living in the middle class families tends to find good educational background but only few of them get socially stable families. This is why their decision-making skills are not that much superior to the high-class children (Hunt 2014).
The targeted customers for the marketing of the Kuer Garments are the children leaving in the middle class families in particular. This is because that the population of middle class children in Kolkata is higher than the high-class families. This would be a good option to penetrate the large number of customers, as the rate of conversion would be higher. Another very import fact about the chosen class of the target customer is that they are highly dependent on their parents for making decisions. This makes things easier for selling the products as parents are matured and they would be approached for making them convinced for a product. According to the theory of perception, salesperson requires a proper interaction with the customers. This is indeed never possible with the children as they are not the decision makers in general. Children in Kolkata are very fond of wearing clothes, which creates a good opportunity to the Kuer Garments. The customers here are very choosy when it comes for selecting the desired product. This is why it is advisable that the company should come up with different sizes and designs for the same quality of product. This would allow matching up with the requirements of customers (West, Ford and Ibrahim 2015).
Marketing planning has some objectives, which are needed to be set in order to have the thirst to chase the attainment of objectives. The marketing planning for Kuer Garments would have following objectives:
One of the most important objectives of the marketing panning is driving the sales and attaining the higher benefits. The same objective is also feasible to the chosen organization. This is because of the fact that the chosen organization is already engaged in export businesses with some developed countries such as North America, South America and the Western Europe. The company would be coming to India after observing the highly potential market for the retail business and the highly incrementing population of the country. The company has initially targeted Kolkata as of for the entry purpose. However, it has planned to occupy some other potential market in India such as Surat, Mumbai, Kanpur, Rajasthan and Bangalore. This is because of the fact that the company is initially looking for Kolkata as a start up for their business. The highly flourishing market of Kolkata and the pre-existence of other Chinese products in the market are collectively justifying the selection to enter into Kolkata first (Foxall 2014).
This is another most important objective of the market planning, which is related to the brand recognition in the new market. the market of Kolkata is already dominated by some other potential local and international brands such as Lilly Put, Jockey and Levis. This is very difficult to establish the name of the chosen organization in the crowded market with the names of numerous local and international brands. However, the success of the chosen company and the increment in the sales figures in the chosen city can only happen if Kuer Garments succeed in leaving a significant impression on the market. Establishment of the brand value would only be entertained if the quality and the pricing of the product is highly maintained under the supervision of some supreme organizational policies. However, Kuer Garments are popular for quality production and affordable prices (Wirtz and Lovelock 2016).
Brand management comes after the establishment of brand value in the targeted market. This is very important as establishing the reputation is tough but its maintenance is even tougher. Business sustainability has challenged many multinational organizations in the past. Nevertheless, this is extremely challenging to manage the brand value in the market. However, the marketing planning does also include some strategies for the management of brand value in the market. The brand value would be managed by ensuring a quality supply of products from China. Moreover, attaining the maximum level of customer satisfaction and the high number of quality production are the two most important elements for the Kuer Garments, which have earlier benefitted the company in some other parts of world (Sharma 2013).
According to Kotler, “marketing Mix is a collection of controllable variable, which drives and influence the buying behaviour of customers” (Same and Larimo 2012). The four mentioned variables are also known as four P’s, which are price product, place and promotion. The four P’s of Kuer Garments would be as follows:
The chosen product would be the all kinds of summer special wears for the children. The product would be in varied range such as different sizes matching the needs of children. Products would also be in different kinds of animated designs, as small children love wearing those clothes. The quality of the product would vary according to the prices, as it is not feasible to provide the highest quality cotton for a cheaper rate. The target market has the same trend, so it is better feasible. The higher the pricing the higher would be the quality. However, the quality of the offered products would maintained at a comparative higher quality and this is feasible also as the labour costs in China and the costs of material is relatively cheaper than other countries (Hassan et al. 2013). This is the advantage, which the Kuer Company would be carrying with it. Following are the list of some products:
Place is another very segment of the marketing planning, which is necessary to be targeted to narrow the market and streamline the operation. The chosen target market segment is Kolkata and the chosen market segment in the city is all the budgeted marketing places such as new market mall. These places are targeted in particular because these places experience a high number of shopping especially on some celebrations such as Durga Puja, Diwali and Eid. Another reason behind selecting these paces is to prevent any direct competition from the existing international brands in the market. This would hamper the market performance (Fletcher and Crawford 2013).
Prices for the different range of products would vary accordingly. During the normal timing, the pricing for the different products would be as follows:
The prices are competitive as the quality of the products would be better than the most. The product quality would be unmatchable by most of the local manufacturer. This is rightly so because the costs of labour and the raw materials are comparatively cheaper in China. This is why most foreign companies are involved in direct exports from the country. Walmart is the biggest example of such business, which is highly involved in a high amount of exports from China. It would not be easy for the local companies to compete with the quality of the offered products at the given prices (Proctor 2014).
Promotion is another very important factor, which helps occupy the attention of customers. There are several ways of doing promotion in the market; however, for the Kuer Garments Company the online marketing communication would be the best way to reach to the targeted customers and the required distributors. The online media would help announce the importance of the products that are being offered by the Kuer Garments Company. This would also relive some pressure of finding the suitable distributor for the distribution of the products (Eden and Ackermann 2013).
Conclusion
Kuer Garments Co., Ltd. is a potential company, which is engaged in some professional business. The company is already engaged in exports business with some other parts of world such as North America, South America and Western Europe. The prepared marketing planning is potential, as the planning has been made after conducting an extensive research on the target market. The products of have potentials in it and the pricing are reasonable to maximum customers. This makes utter chance for the company in acquiring a dominant position in the market. The company is taking measured steps by going for the Kolkata market only. It is measurable again as it is preventing a direct conflict with some international existing brands in Kolkata. This is because of the fact that the company is planning for a long and sustained inning in India. Therefore, this is necessary that the company takes measurable approach towards establishing a brand image in the market. The company has intended to capture some other potential market in India in near future such as Surat, Mumbai, Bangalore and Kanpur.
References
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