In this writing assignment, you will complete the following steps: Write at leas

Question

In this writing assignment, you will complete the following steps:

Write at least two marketing objectives to be accomplished by this marketing plan. Be sure that your objectives are stated in a way to meet the criteria for “S.M.A.R.T.” goals, which means they are:

Specific -- answer the who, what, when, where, why questions

Measurable – include a numeric objective (“increase sales to $10 million”)

Attainable – within your reach, even if optimistic (you are willing to commit)

Realistic – have a reasonable likelihood of being met (you are able to commit)

Timely – have a deadline or time period attached

Based on your analysis of the market data, and a comprehensive understanding of the customer and the buying processes, write a 2-3 page description of the major segments of the market and the specific target market segment you have chosen to serve. Be sure to include a discussion of demographic and psychographic factors if you are targeting a consumer segment, or for business targets, a discussion of whether you are serving a producer, reseller, institution or government unit. Include your reasons for concluding that this is the target market segment that is most likely to be served profitably by your firm.

Please combine all sections of this draft (Marketing Objectives and Target Market Strategy) into a single document, along with citation of sources.

Explanation / Answer

Assumptions, you are about to started a occasion clothing outlet, and thus planning to set marketing targets for the same, the following are the marketing objectives to be meet:

- you have a successful men's wear line, you have to start a new women's wear line and penetrate in the market.

- expand the business.

Specific:

It is really important to be specific as to where you want to reach and how do you want to reach there. There is wide range of market for garments, every person in this earth needs clothing so it has a wide scope for it. But our latest target market is women. Since we are into occasion wear, we target on ladies who are about the get married or are close relative of the bride or groom, age cannot be considered much here as anyone can get married in any age. We are already in the occasional men's wear clothing, and getting into women's wear, is because of the public demand we have for the same. It can be a one stop shop for both the bride and the groom. We have already designes few gown collections considering the preferences and demands of the Bride's, but getting the outs costumised will be our USP.

Measureable:

With our men's wear running successfully we have an income of $10,00,000 turnover annually, but after introduction of women's wear we are targeting to reach an invomi of approximately $20,00,000. We target this because of the buying patterns of women, they are more into shopping and plus women are considered to be impulsive buyers and when it comes to weddings they think about nothing than looking good.

Attainable:

Both the targets set are attainable and are dependent on eachother, the introduction and success of a new line will obviously lead to expansion of the store, plus the tragets set are set after considering the demands of the customers, their buying habits and patterns, the quality we provide and the base we already have. So achievement of what we have thought of is has really a good chance.

Realistic:

The goals set are realistic in nature, we have to come to these goals after a lot of research. The product line to be introduced after a survey conducted in our store, we asked a lot of women as to how eoulw they like if they could buy their and their fiancee's cloths together and they were really excited about it. And looking at the base we have created for men, and the way it has grown in an span of just one and a half year to the turn over of $1000000, we are sure to achieve out targwt for women too.

Timely:

Considering the sellability of our products only during occasions we consider to reach this mark in an year, the reason to attain this in an year is that there are few months which are slack and few are at peak...so when the average of overall year will be considered, we are sure we would be at or beyond our target.

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