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Marketing plan ABSTRACT With the slogan Love at first sight, Mua Boutique is always a reliable and indispensable fashion address for ladies who pursuing the style of tenderness princess. Mua Boutique is famous for beautiful design, exquisite dresses and meticulous technology. The dresses are very diverse, transformed many different styles from short dresses, elegant dresses to lovely dresses for weekend coffee with friends. Coming to Mua Boutique, customers will be able to choose for themselves the appropriate designs, comfortable materials or costume designed on demand. The major purpose of this report is to build a marketing plan for customed dresses of Mua Boutique. Based on the SWOT analysis, our company confidently introduce new styles of dress fit to the requirements of each customer. In the marketing mix, our company always focus on how to gain popularity and get people to acknowledge our new product. Our target consumers are the ladies who are in the age range of 18 to 35. Furthermore, our company continuously promotes the effectiveness of the 4Ps (Product, Price, Promotion, Place) strategies. We hope that with our marketing plan, our product will earn customer’s heart and have a proper place in this large fashion competition.
MINISTRY OF EDUCATION AND TRAINING HO CHI MINH CITY UNIVERSITY OF FOREIGN LANGUAGES - INFORMATION TECHNOLOGY DEPARTMENT OF INTERNATIONAL BUSINESS ADMINISTRATION SUBJECT OF BASIC MARKETING REPORT PAPER MARKETING PLAN OF MUA BOUTIQUE FROM OCTOBER 2017 TO MARCH 2018 HCMC - November, 2018 ADVISOR’S ASSESSMENT II General Information ABSTRACT With the slogan "Love at the first sight," Mua Boutique is always a reliable and indispensable fashion address for ladies who pursuing the style of tenderness princess Mua Boutique is famous for beautiful design, exquisite dresses and meticulous technology The dresses are very diverse, transformed many different styles from short dresses, elegant dresses to lovely dresses for weekend coffee with friends Coming to Mua Boutique, customers will be able to choose for themselves the appropriate designs, comfortable materials or costume designed on demand The major purpose of this report is to build a marketing plan for customed dresses of Mua Boutique Based on the SWOT analysis, our company confidently introduce new styles of dress fit to the requirements of each customer In the marketing mix, our company always focus on how to gain popularity and get people to acknowledge our new product Our target consumers are the ladies who are in the age range of 18 to 35 Furthermore, our company continuously promotes the effectiveness of the 4Ps (Product, Price, Promotion, Place) strategies We hope that with our marketing plan, our product will earn customer’s heart and have a proper place in this large fashion competition TABLE OF CONTENTS Title Page ABSTRACT .i TABLE OF CONTENTS ii LIST OF TABLES iii LIST OF FIGURES iv I INTRODUCTION II GENERAL INFORMATION 2.1 Company Profile .2 2.2 SWOT Analysis 2.3 Competition and Customer Analysis .3 III MARKETING PLAN 3.1 Goals and Objectives 3.2 Market segmenting – targeting – positioning .5 3.3 Marketing mix (4Ps) 3.3.1 Products strategy 3.3.2 Pricing strategy .13 3.3.3 Channel strategy 14 3.3.4 Promotion strategy .15 3.4 Marketing budget and financial projection 21 3.5 Long-term projection (from 2019 to 2021) 32 IV CONCLUSION .33 V REFERENCES .34 LIST OF TABLES Title Pa Table Marketing budget in October and November 22 Table Marketing budget in December .23 Table Marketing budget in January 24 Table Marketing budget in February and March .25 Table Total revenue 26 Table Costs of production 28 Table Tailors salary 29 Table Expected income in October, November and December 30 Table Expected income in January, February and March 31 Y LIST OF FIGURES Title Page Figure Positioning of Mua Boutique and competitors Figure Halloween collection Figure Christmas collection Figure Year-end and Lunar New Year collection 10 Figure Facebook fanpage of Mua Boutique 12 Figure Facebook fanpage of Mua Boutique 12 Figure MC Cat Tuong with Mua Boutique's dress 17 Figure Singer Phuong My with Mua Boutique's dress 17 Figure Create Facebook advertising 18 Figure 10 Create Facebook advertising 19 I Introduction I INTRODUCTION Vietnam is the world’s fourteenth most-crowded nation and the eighth-most-crowded Asian country Therefore, it becomes a potential market for any fashion brand, domestic as well as foreign and Mua Boutique is not an exception Mua Boutique is a fashion shop specializing in selling princess-style dresses with delicate and beautiful designs, established in Ho Chi Minh City in 2013 Not only selling princess dresses, Mua Boutique is also expanding into accessories, handmade jewelry with pretty and femininity items, imported in limited quantities or handmade in great detail and unique Our marketing plan will be started from October 2018 to March 2019 with the main purposes are that we can expand target customers and increase revenue This report will bring the details of our marketing plan that includes: General Information of Mua Boutique Marketing plan includes Goals and Objectives, Market Segmenting – Targeting – Positioning, Marketing Mix, Marketing Budget and Financial Projection and Long Term Projection II General information II 2.1 GENERAL INFORMATION Company Profile About us, Mua Boutique fashion brand – which was first established in 2013, wishing to differentiate choice for customer in searching demand-based clothing We have only one store located in 49 Tran Quang Khai Street, Tan Dinh Ward, District 1, Ho Chi Minh City In those first day, we are only being well-known by custom dresses After years in developing, special thanks to customer supporting, our products are having good reputation and positive effect day by day Leading to upper-middle class, we always want to diversify our items, design as many suitable and attractive dress to provide satisfaction to women in many age On top of that, our brand most focus on slogan “Not only design clothes, we also design customers’ trust” Mua Boutique’s design patterns must be bold and light blended with the perfect created of a given created for each product made a private slice is not duplicated Design samples are carefully selected from material selection, modeling and finishing Therefore, the products to customers are always the best products With a team of highly skillful and well-trained designers, the Mua Boutique brand hopes to satisfy the customers' high quality clothes No matter who you are, your style of fashion, Mua is fully confident to meet all your needs The designs of Mua are innovative, new and unique Moreover, Mua always updates new products every week so you can "update" your wardrobe in the most cutest and trendy way Mua always wants to bring convenience, comfort and friendliness to customers during the shopping process Do not hesitate any more, come to Mua to become a fashionable lady you the most 2.2 SWOT Analysis 2.2.1 Strengths II General Information As a demand-based design fashion brand, we have many strengths in the variety of designs These are very suitable for customers in many cases such as prom, wedding or birthday parties Moreover, we accept to change and customize on customers’ requirement if there is possible for them After four years of establishment, our products is being well-known and voted for many customers A loyal-customers based has developing strongly and increasing every years Mua Boutique mostly focus on online marketing so high quality images is the key elements of us to attract customers All of the pictures of the collection were planned for shooting at least months before releasing and uploading into social media Not only focus on seasonal collection, we also focus on trendy, new arrivals every week It doesn’t have to be a completely new one, with our strengths, just change some details or material, we can now have a new dress to broader both current and potential customers in every week 2.2.2 Weaknesses First of all, our clothes have a long producing time – this is the biggest weakness in our business Normally it will take us three to four week to finish completely a dress for customers With some cases more special, two to three months may be happen Another point is Mua Boutiques only have store which located in District 1, and pretty small, we also have only three consultants We use Facebook is the only one to connect with online and potential customers All of these reasons lead to our difficulties in customer service quality Last but not least, our items are limited due to the customized and rare materials We cannot adapt all of customers too many dress in a same time 2.2.3 Opportunities Differently with other competitors, we focus mainly on demand-based dress so we have good reputation about the products Besides, in the same market segmentation with middle-upper class clothing, Mua Boutiques has only a few rivals compete directly Coming along with the III Marketing Plan b) PR activities for each look book Halloween look book: Spooky Halloween Facebook and Instagram online content: Posting collection images and information Posting contents on Golden: 12 PM/ 09 PM – 10 PM on weekdays PM – 12 AM on weekends Detail: Before releasing day: • Posting 1-2 pictures from the Look book: “Coming Soon for Halloween” Releasing day: • Posting full Look book officially • Run Facebook Ads days after releasing day: • Posting some pictures of best sellers • Restocking • Posting feedback Christmas look book: Cloches de noel Running Facebook and Instagram Ads: Same as Halloween season Including some more seasonal activities: 5% off for wearing RED clothes when visiting store 5% off for sharing the Look book on Facebook (on public) Giveaway game (10 random vouchers in total): Receiving a 100,000 VND voucher when sharing post, tagging Facebook friends, commenting a random number (001 - 999) Year-end party & Lunar New Year Running Facebook and Instagram Ads: Same as Halloween season 20 III Marketing Plan KOLs: Sponsoring dresses for KOLs for Lunar New Year events Including some more seasonal activities: 5% off for wearing RED/YELLOW/PINK clothes when visiting store 5% off for sharing the Look book on Facebook (on public) Giveaway game (10 random vouchers in total): Receiving a 100,000 VND voucher when sharing post, tagging Facebook friends, commenting a random number (001 – 999) The budget for each seasonal activity will cost by giveaway, with 10 vouchers will cost million VND With discount, we have 5% off for total bill, and we assume that will have 20bill million, so discount will cost million 3.4 Marketing budget and financial projection 21 III Marketing Plan Table Marketing budget in October and November 22 III Marketing Plan Table Marketing budget in December 23 III Marketing Plan Table Marketing budget in January 24 III Marketing Plan Table Marketing budget in February and March 25 III Marketing Plan Table Total revenue 26 III Marketing Plan Table Costs of production 27 III Marketing Plan Table Tailors salary 28 III Marketing Plan Table Expected income in October, November and December 29 III Marketing Plan Table Expected income in January, February and March 30 Chapter Marketing Plan 3.5 Long-term projection (from 2019 to 2021) The trend of development of Mua Boutique is the princess style costume with exquisite and beautiful design, which is manually design and handmade meticulously by Mua Boutique With the slogan "Love at first sight", Mua Boutique gives customers various styles of dresses, from short skirts, elegant evening gowns to gorgeous dresses for weekend coffee with friends The Mua Boutique brings customers the satisfaction of choosing them the right design, comfort material or tailor-made costumes based on fabric material and customer measurements To bring products closer to the consumer, beside traditional marketing campaigns, Mua Boutique needs to develop more about E-commerce, a popular kind nowadays that can assist entrepreneur in many aspects such as distribute system improvements, minimize time, speed up the market, try to keep in touch with customers and improve the entrepreneur's prestige The above orientation has also contributed to shaping the future goals of Mua Boutique brand that in next years will bring the image of Mua Boutique to become very close to customers of Vietnam and deserves to be one of the best choice beside the foreign brands present in Vietnam This is in line with the goal of increasing revenue per year to 30% in next years Domestic and foreign brands enter the market so make market becomes more competitive To stand firmly on the market companies need to have activities like Forecasting studies to measure, estimate, forecast the current market 31 IV Conclusion IV CONCLUSION Vietnam is a populous country with more than 95 million people, so a number of famous garment enterprises have entered the Vietnamese market Among the numerous brands, the domestic brands have also risen, seized all segments, and gradually make the reputation with the irresistible attraction of design, price and knowledge of Vietnamese trend To be successful in Vietnam garment industry, Mua Boutique has developed a careful and suitable marketing plan to advertise their brand and products Coming to Mua Boutique, you will truly be the true princess of your life Rain’s dresses will make your dreams come true The dress was designed gaudy, luxury, splendor will make you look like a princess in a fairy tale Understanding customers’ need and providing them with a very good service, Mua Boutique deserves to be one of the best choice for its customers 32 V References V REFERENCES keys to an effective hotel distribution strategy (2017, February 01) Retrieved from https://www.siteminder.com/r/technology/hotel-online-distribution/3-keys-effectivehotel-distribution-strategy/ tips for creating seasonmal promotion (2017, August 01) Retrieved from https://www.womply.com/blog/tools/2017/08/01/6-tips-creating-seasonal-promotion/ E-commerce is changing the fashion industry – it's time to catch up (2016, March 22) Retrieved from https://www.theguardian.com/small-business-network/2015/feb/06/how-mobileecommerce-changing-fashion-industry How to Develop an Effective Marketing Plan (2015, Dec 13) Retrieved from https://www.notredameonline.com/resources/business-administration/how-to-developan-effective-marketing-plan/#.W_VdiYcza00 How to price your product: common strategies (2017, May 06) Retrieved from https://www.bdc.ca/en/articles-tools/marketing-sales-export/marketing/pages/pricing5-common-strategies.aspx Little Paris, 20018 Retrived from https://www.facebook.com/littleparisboutique/ Mua Boutique, 2018 Retrived from https://www.facebook.com/RAIN.BOUTIQUE/ Poxi Fashion, 2018 Retrived from https://www.facebook.com/PoxiFashion/ 33 V References The Zaras Brand Strategy Marketing Essay (2016, Dec 5) Retrieved from https://www.ukessays.com/essays/marketing/the-zaras-brand-strategy-marketingessay.php What is KOL in Marketing? (2017, August 30) Retrieved from https://hyprbrands.com/blog/what-is-kol-in-marketing/ Why It’s Important To Understand The Customer’s Buying Behaviour (2017, March 26) Retrieved from https://blog.oxfordcollegeofmarketing.com/2014/11/27/why-its- important-to-understand-the-customers-buying-behaviour/ 34 ... Mua Boutique, 2018 The valid day of this strategy will be 01 October, 2018 Figure Facebook fanpage of Mua Boutique Source: Mua Boutique, 2018 12 III Marketing Plan b) Result By doing so, we hope... Figure Singer Phuong My with Mua Boutique' s dress Source: Mua Boutique, 2018 Figure MC Cat Tuong with Mua Boutique' s dress Source: Mua Boutique, 2018 17 III Marketing Plan b) Result We are so positive... months are: increasing revenue in the end of 2018 (from October to January to 30%), reaching 20% new and potential customers to broader numbers of customers ordering new dress 3.2 Market segmenting