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Submitted by tracylk818 on July 22, 2007
Category: Business
Words: 446 | Pages: 2
Views: 131
Popularity Rank: 95,673
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Marketing Importance
The importance of marketing is integral to the success of an organization. The focus of marketing this type of clothing line, to busy, working women that want to look professional and then be able to go straight out to an elegant evening, is important to the organization. A recent study suggests that women "control more than 80% of all consumer purchases and represent more than half of corporate buyers" (TrendSight. 2007). As well as focusing on the marketing mix, the importance of marketing to a successful organization also answers questions for the product. These questions posed by the US Chamber of Commerce (2007) are an integral part to an organizations business plan:
Who are our target buyers?
What sources of uniqueness or positioning in the market do we have?
Where will we implement our marketing spending plans?
When will marketing spending plans occur?
How much sales, spending, and profits will we achieve?
Answering these questions will greatly increase the success rate of the new clothing line. Because of the expense of opening a new line from operations to manufacturing to marketing and sales any steps taken that will increase the success rate is important.
Brand Recognition
A major part of marketing the new clothing line will be composed of brand recognition. In a statement to stockholders, Calvin Klein Chairman and CEO Emanuel Chirico (2007) stated, "the key to our success in a changing retail environment has been and will continue to be the strength of our brands. That is why brand marketing has become a higher priority for us, and an area in which we have increased our commitment." The brand marketing needed for success creates a sense for women preparing for work each day to think that dressing professionally, with the ability to quickly become elegant for a surprise evening out, is a daily choice. Marketing this line of clothing in such a way is...
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