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Peter Alexander Promotional Plan - Essay Example

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Peter Alexander Promotional Plan

Target audience is subdivided into three categories. Differing products are to be designed for each target market. The markets include teenagers, young adults, couples and kids. Members of all of these audiences shall be satisfied via product differentiation. The marketing mix of the firm shall be representative of its overall strategy. Products shall be designed in ways that are differentiable and aimed towards the specific target market. Placement shall be done strategically and strong third party ties with distributors shall be ensured to ascertain timely distribution of products to customers all across the country. Promotion shall be done through ATL and BTL. The cost effective medium of internet shall be the key communication strategy as it can attract customers immediately online and does not add much to the costs. The firm shall use creativity by using the image of Peter Alexander as the brand persona and exploiting the internet for this purpose. Introduction to the Brand Peter Alexander is an exclusive brand of nightwear that has operations centralized in Australia. Peter Alexander, the man himself, personifies the brand and serves as a symbol for the company. The company has a high brand equity with its followers due to the exclusivity showcased through Peter Alexander. The brand idea came into being when peter bought a pair of Pajamas in Hong Kong. He was startled by the way in which he was attracted towards them and wanted to identify ways to make these products appeal to other people around him. (Dynamic Business, 2005). Today Peter Alexander is one of the top sleepwear brands in Australia and from an online business, it has expanded into stores and continues to operate online. Objectives of the Promotional Plan Peter Alexander already possesses significant brand equity, however it is important to note that it has restricted itself to a very niche market of people who value nightwear and shop online for it. To expand its market, Peter Alexander must reach out to people who in a greater number and through a more widespread channel. The core objectives of the promotional plan shall include: Increasing Awareness: Expansion of the customer base shall be achieved through increasing awareness of the brand among people who have are unaware. Although the brand possesses a strong identity, it potentially lacks in volumes, or eyeballs. This specific objective shall aim to expand the brand awareness among people who are not yet used to fashionable sleepwear. Interest Creation: This objective of the plan Stems from the objective of creating awareness. By increasing awareness among people who are indifferent towards, or not exposed to fashionable sleepwear, the company can significantly increase its clientele and have new customers. This part of the plan is specifically challenging because a new customer will take much more time to convert interest to purchase, however, since a significant portion of the firm’s business is through online purchases, the firm has very low fixed costs per unit sold and can afford some leverage in terms of time each customer spends before making a purchase (Gelder & Woodcock, 2003). Reinforcement:- While ...Show more

Summary

Contents Executive Summary: 2 Introduction to the Brand 3 Objectives of the Promotional Plan 3 Target Market 4 Budget Allocation 7 Media Strategy 8 Creative Strategy 9 References: 10 Executive Summary: Peter Alexander is one of the most prominent sleepwear brands in Australia…
Author : america63
Peter Alexander Promotional Plan essay example
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