Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

use any company. pictures below are examples thank you prepare a marketing plan for an existing product or, think of a new or modification of

use any company. pictures below are examples thank you
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
prepare a marketing plan for an existing product or, think of a new or modification of an existing product. include: executive summary description of company products and services finacial feasibility mission/vision objectives competitive environment swot analysis target markets product strategy price strategy promotion strategy service ALL CAPS SHORT TITLE 50 CHARACTERS OR LESS 2 Blue Sky Clothing, Inc. Marketing Plan EXECUTIVE SUMMARY This five-year marketing plan for Blue Sky Clothing has been created by its two founders to secure additional funding for growth and to inform employees of the company's current status and direction. Although Blue Sky was launched only three years ago, the firm has experienced greater-than-anticipated demand for its products, and research as shown that the target market of sport-minded consumers and sports retailers would like to buy more casual clothing than Blue Sky currently offers. They are also interested in extending their product line as well as adding new product lines. In addition, Blue Sky plans to explore opportunities for online sales. The marketing environment has been very receptive to the firm's high-quality goods--casual COMPANY/PRODUCT DESCRIPTION Blue Sky Clothing was founded three years ago by entrepreneurs Lucy Neuman and Nick Russell, Neuman has an undergraduate degree in marketing and worked for several years in the retail clothing industry. Russell operated an adventure business called Go West!, which arranges group trips to locations in Wyoming, Montana, and Idaho, before selling the enterprise to a partner. Neuman and Russell, who have been friends since college, decided to develop and market a line of clothing with a unique-yet universal-appeal to outdoor enthusiasts. BLUE SKY'S MISSION AND GOALS Blue Sky's mission is to be the leading producer and marketer of personalized, casual clothing for consumers who love the outdoors. Blue Sky wants to inspire people to get outdoors more often and enjoy family and friends while doing so. In addition, Blue Sky strives to design programs for preserving the natural environment. CORE COMPETENCIES Blue Sky seeks to use its core competencies to achieve a sustainable competitive advantage, in which competitors cannot provide the same value to consumers that Blue Sky does. Already, Blue Sky has developed core competencies in (1) offering a high-quality, branded product whose image is recognizable among consumers; (2) creating a sense of community among consumers who purchase the products; and (3) developing a reputation among retailers as a reliable manufacturer, delivering the requested number of products on schedule. The firm intends to SITUATION ANALYSIS The marketing environment for Blue Sky represents overwhelming opportunities. It also contains some challenges that the firm believes it can meet successfully. Table A illustrates a SWOT analysis of the company conducted by marketers to highlight Blue Sky's strengths, weaknesses, opportunities, and threats. The SWOT analysis presents a thumbnail sketch of the company's position in the marketplace. In just three years, Blue Sky has built some impressive strengths while looking forward to new opportunities. Its dedicated founders, the growing number of brand-loyal customers, and sound financial management place the company in a good position to grow. However, as Blue Sky considers expansion of its product line and entrance into new markets, the firm will have to guard against marketing myopia (the failure to recognize the scope of its business) and quality slippages. As the company finalizes plans for new products and expanded Internet sales, its management will also have to guard against competitors who attempt to prepare a marketing plan for an existing product or, think of a new or modification of an existing product. include: executive summary description of company products and services finacial feasibility mission/vision objectives competitive environment swot analysis target markets product strategy price strategy promotion strategy service ALL CAPS SHORT TITLE 50 CHARACTERS OR LESS 2 Blue Sky Clothing, Inc. Marketing Plan EXECUTIVE SUMMARY This five-year marketing plan for Blue Sky Clothing has been created by its two founders to secure additional funding for growth and to inform employees of the company's current status and direction. Although Blue Sky was launched only three years ago, the firm has experienced greater-than-anticipated demand for its products, and research as shown that the target market of sport-minded consumers and sports retailers would like to buy more casual clothing than Blue Sky currently offers. They are also interested in extending their product line as well as adding new product lines. In addition, Blue Sky plans to explore opportunities for online sales. The marketing environment has been very receptive to the firm's high-quality goods--casual COMPANY/PRODUCT DESCRIPTION Blue Sky Clothing was founded three years ago by entrepreneurs Lucy Neuman and Nick Russell, Neuman has an undergraduate degree in marketing and worked for several years in the retail clothing industry. Russell operated an adventure business called Go West!, which arranges group trips to locations in Wyoming, Montana, and Idaho, before selling the enterprise to a partner. Neuman and Russell, who have been friends since college, decided to develop and market a line of clothing with a unique-yet universal-appeal to outdoor enthusiasts. BLUE SKY'S MISSION AND GOALS Blue Sky's mission is to be the leading producer and marketer of personalized, casual clothing for consumers who love the outdoors. Blue Sky wants to inspire people to get outdoors more often and enjoy family and friends while doing so. In addition, Blue Sky strives to design programs for preserving the natural environment. CORE COMPETENCIES Blue Sky seeks to use its core competencies to achieve a sustainable competitive advantage, in which competitors cannot provide the same value to consumers that Blue Sky does. Already, Blue Sky has developed core competencies in (1) offering a high-quality, branded product whose image is recognizable among consumers; (2) creating a sense of community among consumers who purchase the products; and (3) developing a reputation among retailers as a reliable manufacturer, delivering the requested number of products on schedule. The firm intends to SITUATION ANALYSIS The marketing environment for Blue Sky represents overwhelming opportunities. It also contains some challenges that the firm believes it can meet successfully. Table A illustrates a SWOT analysis of the company conducted by marketers to highlight Blue Sky's strengths, weaknesses, opportunities, and threats. The SWOT analysis presents a thumbnail sketch of the company's position in the marketplace. In just three years, Blue Sky has built some impressive strengths while looking forward to new opportunities. Its dedicated founders, the growing number of brand-loyal customers, and sound financial management place the company in a good position to grow. However, as Blue Sky considers expansion of its product line and entrance into new markets, the firm will have to guard against marketing myopia (the failure to recognize the scope of its business) and quality slippages. As the company finalizes plans for new products and expanded Internet sales, its management will also have to guard against competitors who attempt to

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Services Sales Handbook A Professionals Guide To Becoming A Top Producer

Authors: Clifton T. Warren

1st Edition

1631574930, 978-1631574931

More Books

Students also viewed these Finance questions