marketing plan
V. Marketing Plan In this chapter is marketing plan of the Company XY. It is a description of its competitors, the demand for the service, and the strengths and weaknesses from a market standpoint of both the business and its competitors. In more detail, the field of activity, potential customers, the location, the operating markets and the business level is clarified. After chapter five, the operational plan will be explained.
1. Market description
To start, the Company XY is doing business in the fashion branch. In more detail, the business acts in the online-renting sector for fashion accessories like handbags/ clutches, belts and sunglasses.
Hungary is a landlocked country in central Europe with an estimated population of almost 10 million people. There are 6.2 million internet users in Hungary which represents 62% of the total population and 29% of the internet population have broadband connections with speeds equal to or better than broadband speeds in the UK.
Internet Population: 6,176,400
GDP Per Capita: $18,815
Internet Market Potential (GDP*Users/million): $116,209 million
Internet Advertising Market Size: $153 million
(Global Customer Acquision)
The Hungarian womenswear market is expected to generate total revenue of $592.3 million in 2012, representing a compound annual growth rate (CAGR) of 2.4% between 2008 and 2012. - (MarketLine Industry Profile|Womenswear in Hungary | February 2013)
Clothing is an essential item, with consumer choice being influenced by factors such as fashion and a desire to signal social status. Demand patterns are susceptible to branding and advertising, which, despite the lack of significant switching costs, tends to weaken buyer power. Individual buyers’ demands change at a fast pace, meaning that, in an attempt to maintain market share in a highly competitive market, players aim to attract customers by creating strong brand consciousness and running intensive marketing campaigns.
Source:
Global
1. Market description
To start, the Company XY is doing business in the fashion branch. In more detail, the business acts in the online-renting sector for fashion accessories like handbags/ clutches, belts and sunglasses.
Hungary is a landlocked country in central Europe with an estimated population of almost 10 million people. There are 6.2 million internet users in Hungary which represents 62% of the total population and 29% of the internet population have broadband connections with speeds equal to or better than broadband speeds in the UK.
Internet Population: 6,176,400
GDP Per Capita: $18,815
Internet Market Potential (GDP*Users/million): $116,209 million
Internet Advertising Market Size: $153 million
(Global Customer Acquision)
The Hungarian womenswear market is expected to generate total revenue of $592.3 million in 2012, representing a compound annual growth rate (CAGR) of 2.4% between 2008 and 2012. - (MarketLine Industry Profile|Womenswear in Hungary | February 2013)
Clothing is an essential item, with consumer choice being influenced by factors such as fashion and a desire to signal social status. Demand patterns are susceptible to branding and advertising, which, despite the lack of significant switching costs, tends to weaken buyer power. Individual buyers’ demands change at a fast pace, meaning that, in an attempt to maintain market share in a highly competitive market, players aim to attract customers by creating strong brand consciousness and running intensive marketing campaigns.
Source:
Global