LuxeWear Marketing Plan
Date of Submission: April 14, 2021
LuxeWear Marketing Plan
Marketing plan launch and tactics appropriateness to target audience
Our business model is aimed at providing designer clothing for rental purposes. The concept of designer clothing rental is however flooded in most parts of the world today – more so in the USA. While such solutions have already been offered and become trusted in the market today, our business model offers a better incentive to the customers. Due to the recent catastrophic events as a resultant effect of the novel Coronavirus pandemic, the clothing rental industry has been greatly affected since people fear for their health. However, our marketing plan launch aims to reassert the customers trust in clothing rental service and in specific, the LuxeWear business model. Our tactics as shall be discussed below are aimed at ensuring our target audience is reached by the message of our presence in the market and making our strategy appropriate to them.
For any marketing plan, there requires to be a set of tools available to the business which are friendly and current in order to attract a market for their goods or service being offered. Subsequently, we have come up with various ways by which we can manipulate the available marketing tools to suit our marketing purposes. Such tools may include: contest marketing and social media marketing. Through the categorical implementation of these tools, our business is set to become a major player in the clothing rental industry.
Social media usage is a huge part of the 21st century. Research shows that in the world today, there are 1.92 billion people who shop online. These staggering number indicate that most people today believe in product provision and service delivery simply at the tap of a button. The untethered technological advancement that led to the creation of mobile applications like Facebook and Instagram as well as online shopping websites, have created an enabling environment for our business to flourish. We shall use Instagram and Facebook targeted ads and posts promotion to reach a wide audience who are mostly young women who long to wear designer clothing. We may also develop an e-commerce site that allows users to rent and receive packages at their comfort and convenience.
Contest marketing is one of the greatest real-time incentives that buyers and shoppers all over the world appreciate. Human beings are thoroughly inclined towards opportunities that enable them to receive a good deal and free gifts by doing the bare minimum. Contest marketing in our business model shall therefore, allow for our clients to rent up to a certain number of designer outfits for free after using the service for some time or after referring a new client to our service. Our customers may also benefit from receiving free designer outfits by becoming our brand ambassadors as well as by engaging in business competitions within our scope of operation. Such incentives and beneficial opportunities in contest marketing may gain traction and business for our company.
Metrics to measure success of each marketing tool
The success of our marketing tools will have to be carried out at the end of the first month after launch of the business. Measurement will subsequently be conducted on a monthly basis and shall be based on the following few metrics: post engagement and call to action on our targeted ads and promoted posts and the resultant referrals after our contest marketing campaigns that have accrued new loyal clients and profits. Post engagement can be automatically measured by the mobile applications of our choice and such may provide an image of who we have targeted, how they appreciated the information and whether they heeded the call to action. Creation of a larger clientele from contests can be easily realized since we shall be interacting with the potential clients one-to-one and may convince them to use our service.
Market launch timeline
The launching process of our new service to the market shall take place in the following stages: creation of business social media pages on Facebook and Instagram, testing our traction and potential customer reaction to the service through targeted ads and posts, provision of flagship services to our first few clients to assure them of quality service and product genuineness, contest marketing through ‘buy one get one free’ incentives and raffle competitions to receive the higher priced products to rent free for a month and finally, the objective assessment of our marketing strategy for revision or reevaluation. In this regard therefore, each of these activities shall occur within the first three months of the start of our business. Consequently, it shall be easier to assert the viability of our business model in its early stages rather than hemorrhage money and eventually lose it all.