Digital Marketing Plan of Leather Bag-Stage-Samples for Students

Question: Discuss about the digital marketing plan for a company that intends to develop its presence online and online business for the first time. Answer: Introduction The marketing process through which the business entity promotes the products and services by making use of digital channels for attracting and attaining consumers is termed as digital marketing (Armstrong et al., 2015). The prime objective of this type of marketing is to promote the brands through various mediums of digital media. On the basis of the research executed by the business entity, it has been analyzed that the digital media and online channels are helpful for the marketers to operate successfully in the market. Digital marketing is a crucial part of the promotional activity of every company. This is the concept of marketing by which companies are able to promote their products to the customers by various online tools. This report focuses on the digital marketing plan of a new leather bag company i.e. Leather Bag-Stage. The objective of this report is the make the company available on both online as well as offline media platforms. The report deals with the marketing of le ather bags in Brazil by social media marketing tools. Along with this, the report also focuses on the analysis of the feasibility of the Brazil market regarding the launch of new leather handbags. The report finally focuses on the various media tools for the promotion of the leather bags in Brazil. Product analysis The media plan will focus on the female leather handbags and clutches provided by medium-scale leather product manufacturing company named Leather Bag-Stage. The company has products combining innovation and style. The objective of the company is to provide stylish and luxurious designer handbags for the female customers based on their needs of an exquisite lifestyle of the female customers (Bruni, Gherardi Poggio, 2014). Main products of Leather BagStage include shoulder bags, handbags, and clutches, cross body and messenger bags. The company is able to have the good position in the fashion industry of Brazil with the stylish handbags. Situational analysis The approach is referred to a collection of mechanisms that are adopted by the managerial and senior staff so as to analyze the internal and external environment of the business organization for understanding the capabilities, customers and business environment (Deakins Freel, 2009). The term situational analysis can also be termed as the foundation of the marketing plan. The below described is the situational analysis That will be creating an overview of Leather Bag-Stage that will lead to better understanding of the components that will influence the future: Internal analysis For analyzing the internal factors the business entity can make adoption of SWOT analysis as an approach that will aid the entity in getting aware of the strengths, weakness, opportunities, and threats of the firm (Dorn Suessmair, 2017). The following is the SWOT analysis of Leather Bag-Stage: Strengths The key strength of Leather Bag-Stage is that the company is a medium scale company that provides designer bags to the customers. Further, a company has its own handbag patterns and uses a best quality material for the purpose of bag production (Drucker, 2014). Along with this, the company also produces customized handbags based on the requirements of the customers. The company provides the option of physical product delivery that gives an opportunity to the company to cater the needs of the large consumer segment. Leather Bag-Stage has created the more affordable line of the high-quality products but at a fraction of the price. This is the young company without a negative legacy for the customers. Weakness One of the key weakness of company Leather Bag-Stage is that sale of the luxury handbags is continuously reducing because of the demand for luxury products among the customers. Further, Leather Bag-Stage has to face high competition in the market due to the availability of established international brands like Coach, and Prada. Along with this, the production of leather handbags needs a large amount of cow hides which is not easily available in Brazil. During the production process, there is the high use of water and that is the wastage of the natural resources (Marshall, Desborde Thach, 2016). There is less purchasing of the leather products in the market due to solid quality and high prices. External analysis Opportunities One of the big opportunities for Leather Bag-Stage is global expansion. The lesser presence of the brand in the global market can be solved by the expansion of the business in all over the world. This will give the brand an opportunity to improve the image and enhance the sales (Plewa, Conduit Quester, 2016). Leather Bag-Stage is focusing only on women but the collections do not include children that could be the key to company growth. In order to grow in the fashion industry, a company can also introduce the products for children. Along with this, it can also introduce low and medium priced handbags for the common income group customers in Brazil. Threats Economic recession may reduce the demand for leather bags in various countries as leather bags are considered as the luxury products by the customers (Sheth Sisodia, 2015). Further, one of the major threats to the company is the changed taste and preferences of the customers that can impact on the demand for the leather bags. Along with this, there are large numbers of substitute bags available at the low cost in the market that impact on the demand for leather bags. Definition of goals and objectives (SMART) The objectives are the attainments that are pre-determined and are required to be accomplished by the business firm. The business entity should make use of SMART approach for developing and establishing the business objectives. The below mentioned are the business objectives and goals of leather bag-stage: Specific: Leather Bag-stage should make the establishment of the business objectives that are specific by nature. The objectives thus formed are required to be able to answer the questions such as "what is to be done?" "How will you know it is done?" etc. and should be able to discuss the outcomes (Westwood, 2016). The goals should be described in a manner that the readers should be able to interpret in the same way. For measuring that the objective is specific, it should be made sure that it is described in an observable way. Measurable: Setting objective on this criteria will develop objectives that are able to answer the following questions such as "how will you know it meets expectations?" and also defines the assessable terms such as quantity, expense, quality, frequency and the time limit (Wayne 2017). This term refers to the limit to which the evaluation can be done for something against a set standard. The objectives established should be measurable. Achievable: The desired or the determined goals are required to be within the reach of the employees, they are required to be achievable and should also be able to answer the following statements such as "canthe individual do it?" "Can the measurable goals are achievable by the individual?" "Doeshe/she havethe experience, knowledge or capability of fulfilling the expectation?"The business objectives are required to be established in such a manner that they will be accomplished within the given timeframe. Relevant: The objectives are required to be relevant and should give answer to the questions such as "should it be done?, why?" and "what will be the impact?". The criteria for attaining the goals should be reasonable, realistic and time-sensitive. Time-oriented: A deadline should be defined for each and every objective established within the business organization and these objectives should also be able to answer the question such as "when will it be done?". Setting a time-frame for each and every objective will increase the efficiency of the workforce of Leather Bag-Stage and that will tend to bring a hike in the productivity and profitability. Marketing strategy The various techniques and mechanisms adopted by the business firm for collaborating with their customers are the marketing strategies. Leather Bag-Stage can make use of the marketing strategies for generating awareness about the specifications, features, and benefits of the products to the consumers (Duermyer, 2017). This will aid the business entity in increasing the brand equity and goodwill of the product and also of the entity. Some of the other benefits attained by adopting these strategies are an increase in the market share and customer base will be observed and thus leading to an increase in sales and profitability. The below mentioned are some of the marketing strategies that can be adopted by the business entity for the accomplishment of desired objectives and goals: Paid advertising: The concept comprises of multiple approaches to marketing that can be adopted by the business enterprise. The approach comprises of a set of traditional models and approaches to marketing such as TVCs and print media advertising and that can be adopted by the business firm. Cause marketing: The name itself defines the meaning of this strategy. This marketing strategy develops a bond between the products and services with a social cause (yodiz 2018). This will provide a boost to the brand awareness and also an increase in the number of a customer will be observed. This marketing strategy has been considered as one of the most effective options that can be adopted by the business firm. Relationship marketing: The focus of this marketing strategy is on building strong relationships with the customers (Chaffey, 2016). Developing and enhancing the strength of bonds with the existing customers and that will lead to an increase in the customer loyalty. This is one of the most beneficial strategies that can be adopted by Leather Bag-Stage. Internet marketing: The approach of internet marketing is also termed as cloud marketing. This strategy is one of the contemporary media of marketing in which the business entity makes use of the internet for executing all the process and transactions related to the promotion and advertising of the products and services (Nykiel, 2016). Various platforms are offered to the manufacturer for making the products available for the consumers. Transactional marketing: One of the challenging task for any of the business firm is sales. As the entity is having high volume targets the selling operations will be proven tough. Under this marketing strategy, the customers are stimulated and encouraged by discounts and coupons and other additional services are offered for buying the products or services. This approach enhances and develops the chances of sales and also motivates the targeted consumer segments for buying the products. Diversity marketing: This marketing strategy is concerned about making use of the aspects of diversity found in the consumer segments of the business firm (Ryan, 2016). This approach caters the diverse targeted consumer segments by making customization and integrating various marketing strategies. It comprises and covers various aspects such as beliefs, attitudes, views, cultural and other specific needs of the consumers. Word of mouth: This marketing strategy depends on the impression of the business firm on the audience. The mentioned approach is one of the traditional strategies that can be used by the business firm. Implementation plan The below presented tabular format comprises of the implementation process of the developed tactics and strategies by the Leather Bag-Stage for executing the business operations. Implementation plan proves as a guideline or a track for the entire workforce that is engaged in the operations of the business organization (Chaffey Ellis-Chadwick, 2016). It can also be termed as a management tool that is developed by the business firm for supporting the strategic plan. An implementation plan develops segmentation in each of the strategies into identifiable steps and each step is assigned to a specific individual and also the deadline for completion of each step is given. The below is the implementation plan of Leather Bag-Stage: Actions Starting date End Date Responsible Person Related Department Expenses Developing high targets and productive mission statement 1/03/2017 30/05/2017 Management officials Management officials $2500 Transparent communication about the pre-determined targets and goals 1/07/2017 31/09/2017 Management officials Management officials $4000 Encouragement to the generation of innovative ideas for better decision making 1/10/2018 31/12/2018 Professionals and seniors authorities of concerned departments Heads of departments $3500 Innovating alternative ideas and backup plans 1/01/2018 30/03/2018 Marketing team and Executives Marketing department $4500 Successful implementation of developed marketing strategies and tactics 1/04/2018 2/07/2019 Superiors, senior authorities, and executives of marketing and advertising departments Marketing department $5000 Control and evaluation The above-mentioned concept is made concerned about the strategies and plans developed for establishing control over the plans and policies that are executed within the business organization. There is number of approaches that can be adopted by Leather Bag-Stage for developing the control measures (bestpractices.ca 2015). The management officials and the other senior staff is held liable for executing the monitoring and controlling practices. Moreover, monitoring and controlling process are also concerned at overseeing all the tasks and metrics that are required for ensuring the approval of the authorized task is within the scope, on time and is also within the budget so that the project is preceded with a minimal risk (Baker Saren, 2016). This business practice involves the comparison between the actual performance with the estimated performance and taking corrective actions and measures for producing the desired outcomes. This is a continuous process throughout the life of the exe cution of the tasks performed. There are various measures and mechanisms that can be adopted by the business firm for establishing the control and monitoring of the operations within the organizational structure. For instance, total quality management (TQM) is one of the approaches that can be adopted by Leather Bag-Stage for evaluating and monitoring the quality of the products and services offered. KPIs can be determined and implemented by the management for identifying the performance level of the employees. This will aid the business firm in analyzing and evaluating the performance level of the workforce and the data thus generated will be used at the time of the appraisals (Kingsnorth, 2016). Moreover, the entity can also develop and establishing monitoring over the efforts made by the marketing team, this will enable them with the data and information about the requirements and demand of the consumers. This data will aid the entity in bringing improvements and advancements in the products and services and thus leading to an increase in the satisfaction level of the consumers. This monitoring and controlling plan also comprise a check over the operations and functionalities that can impact the environment. And hence some preventive measures are also required to be developed by the business organization for safeguarding the environmental aspects. Conclusion After summing up the above-executed report it has been analyzed that for enhancing the marketing activities and increasing the sale in the regions of Brazil the Leather Bag-Stage wants to bring advancements and developments in the existing marketing plan. The report comprise of a developed and improved marketing plan that will enable the business firm in establishing a strong presence over the online and the offline platforms. References Armstrong, G., Kotler, P., Harker, M. Brennan, R., (2015).Marketing: an introduction. 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