Marketing Plan
MARKETING PLAN
“Always have confidence of knowing the correct time.” TABLE OF CONTENT
1. Executive Summary 4 2. Introduction 5 3. Market Segmentation and Targeting 6 3.1 Market Segmentation 6 3.1.1 Segment 1 7 3.1.2 Segment 2 7 3.2 Target Consumers Market 8 3.3 Positioning the Company 9 3.4 Estimated Market Share 10 4. Marketing Objectives 11 5. Marketing Mix Strategies 13 5.1 Product & Brand Strategy 13 5.2 Service Strategy 14 5.3 Pricing Strategy 15 5.4 Distribution Strategy 17 5.5 Promotional Mix (IMC), Strategy, and Rational 18 6. Implementation Plan and Measurement Tools 20 6.1 Tactics to Implement the Strategies 20 6.2 Monitoring Strategy 22 7. Conclusion 24 8. References List 25
1. Executive Summary
Fossil, Inc. is a global design, marketing, and distribution company that specializes in the industry of consumer fashion accessories, especially in the watch products. Fossil entered the international market and diversified the products, which consist of handbags, belts, watches, etc. They distribute the product offerings through a diversified distribution network that includes department stores, owned retail stores, owned Internet sites, and specialty retail locations.
Fossil aims to enlarge their product line and enter the moderate-luxury products niche in the watch sector, which is the Fossil Class. Thus this report will analyze the product expansion of the Fossil, Inc. and also give a clear picture of its marketing plan and strategies to enter the Indonesian market, as it offers great opportunity and also shows an outstanding market outlook. The Fossil Class’ watches are estimated to gain 5% of market share in the watch industry for the first year. Upon further investigation, the company will identify the targeted market based on the consumers geographic, demographic, psychographic, and psychological factors that has defined the social trends and the involvement level
“Always have confidence of knowing the correct time.” TABLE OF CONTENT
1. Executive Summary 4 2. Introduction 5 3. Market Segmentation and Targeting 6 3.1 Market Segmentation 6 3.1.1 Segment 1 7 3.1.2 Segment 2 7 3.2 Target Consumers Market 8 3.3 Positioning the Company 9 3.4 Estimated Market Share 10 4. Marketing Objectives 11 5. Marketing Mix Strategies 13 5.1 Product & Brand Strategy 13 5.2 Service Strategy 14 5.3 Pricing Strategy 15 5.4 Distribution Strategy 17 5.5 Promotional Mix (IMC), Strategy, and Rational 18 6. Implementation Plan and Measurement Tools 20 6.1 Tactics to Implement the Strategies 20 6.2 Monitoring Strategy 22 7. Conclusion 24 8. References List 25
1. Executive Summary
Fossil, Inc. is a global design, marketing, and distribution company that specializes in the industry of consumer fashion accessories, especially in the watch products. Fossil entered the international market and diversified the products, which consist of handbags, belts, watches, etc. They distribute the product offerings through a diversified distribution network that includes department stores, owned retail stores, owned Internet sites, and specialty retail locations.
Fossil aims to enlarge their product line and enter the moderate-luxury products niche in the watch sector, which is the Fossil Class. Thus this report will analyze the product expansion of the Fossil, Inc. and also give a clear picture of its marketing plan and strategies to enter the Indonesian market, as it offers great opportunity and also shows an outstanding market outlook. The Fossil Class’ watches are estimated to gain 5% of market share in the watch industry for the first year. Upon further investigation, the company will identify the targeted market based on the consumers geographic, demographic, psychographic, and psychological factors that has defined the social trends and the involvement level
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