Category: Business 7th July 2017
In order to enter the market with the new products, it is important to “be different” as it was said by Steve Jobs. Therefore, the point of difference for the company would be simplicity in the process of ordering, as well as the combination of the high quality and affordable pricing strategy. In other words, it is important to offer the customer the best range of payment options, as well as the ways to receive the purchased product.
Today, every respected company operates in the world of Internet technologies and so does the Babe Morgon Company, which also has the online store where the customer can easily see the top sales and the best priceses along with the additional set of services that accompany every single purchase.
For example, easy or even free delivery within the state, and 50% off within the whole country. Thus, the mission statement for the Babe Morgon Company is to offer the best possible products and services to the most sophisticated customers, both in local retailing and through the online stores.
The Babe Morgon Company is a new brand name, it is not recognized and, therefore, there is a need to correct the situation by means of the proper innovative strategies that would occupy the contemporary marketing ideas, in order to boost sales. Since Babe Morgon trades the clothes for babies, there is a need to create an interest for the young mothers, who are willing to buy the best clothing for their beloved children.
Consequently, the innovative marketing strategy would be to promote the simplicity of the way the mothers can get the clothes for their children as well as many alternative options for the payment and, in addition, the free of charge delivery services.
At the same time, as it was mentioned earlier, the price should be differentiated by means of the quality and quantity of goods and services that the Babe Morgon Company can offer. Furthermore, there is a need to think of the strategy to empower loyalty and make the customer come back for the new clothes.
The overall price for the standard goods would be around 30 AUD, but that does not mean there are no other ways to generate more sales and boost the revenue of the company. The children grow very fast, and the company can offer a system that would allow its previous customers to take back the clothing that was purchased earlier and be able to buy the brand new clothing with a rebate.
In addition, Babe Morgon Company can create a strategy that will offer the clients only those goods that are needed for the particular period of time. Hence, as time passes by, the company can offer its clients to renew the previously purchased goods by means of using the top services that promis the delivery of goods to the homes of the clients.
One more alternative could be the use of a great number of discounts, or an array of stock options, so that those clothing that was not sold) and the collection could no longer be considered as the brand new one) would be put on sales at half the price. At the same time, the company should clearly indicate the highest quality of the clothing for babies, taking into account not only the material, but also the appearance of children; thus offing the 100% cotton, stylish and luxury looking clothing.
At the same time, the Babe Morgon Company should concentrate on its promotions through the online stores. Thus, all the possible means of advertising would generate more sales and attract more customers from the online stores to the local ones, and the company would generate the revenues from both sources of advertising.
The marketing research states that the retailing strategies, such as Point of Sale (POS), material, swing tags, business cards, teasers, postcards, posters, trade fair concepts, online or social media strategies, and any other innovative marketing / retail concepts best boost sales over the Internet.
Since the Babe Morgon Company is a beginner on the market of baby clothing, it is of the particular importance and priority to promote its retailing strategies through the variety of online marketing channels, such as the digital social media tools, including the Facebook, Twitter and Youtube.
The most important action in the markeing strategy is to let the customer see the products free of charge and even have the possibility to win the discount or a gift without any participation, but just for the mere reason of having a baby in the particular district in the city.
In all, the branding and marketing ideas should be aimed at the presentations of the goods and / or services through the means of the social media channels, and that should be done completely free of charge. Such an approach will attract the clients to try the goods and / or services and, at the same time, will generate more revenue in perspective.
As a whole, the company should try as many marketing tools and strategies as possible, and most importantly, test the number of clients that each marketing tool brough to the local shop or the online store. Usually, 80% of tools result in nothing but a waste of money and only 20% of marketing tools bring businesses more value, i.e., revenue.
To conclude, in case the company is going to enter the new market, it should be armed with as many marketing promotion and tesing tools as possible. It should act instantly and reflect on every change in the demand for the particular clothing. Besides, it would be great to add one more service every month to attract more customer to the store.