Integrated Marketing Plan Essay Example | Topics and Well Written Essays - 1250 words

Integrated Marketing Plan - Essay Example The plan also outlines the communication tools required for the launch of the product. The main marketing objective is to increase market share by 30% by the end of the plan implementation using appropriate communication tools such as online marketing, brand advertising, telemarketing, tradeshows, and direct mail. The company also wants to increase the purchase of its products by sports people and the general population. The communication objectives include; (a) making the product known to the target audience by the end of plan implementation; the objective is to reach approximately 25% of the target audience; and (b) to increase the number of target audience purchasing the products through the internet by 30% by the end of plan implementation. The company also wants to increase the target audience’s visits to its stores by 10% by the end of plan implementation. The objectives will be met through the use of appropriate communication tools. The company faces several issues and challenges. Other competitors such as Nike and Adidas have already reached the target audiences. The international footwear market is highly fragmented and competitive with numerous smaller players and a few key players. It is estimated that only a few of the companies such as Nike and Adidas are able to reach the 1 billion U.S. dollar barrier (Packaged Facts 2009, p71). This indicates that reaching the target audiences will pose a great challenge to the company because of the stiff competition from the other footwear companies. SWOT analysis of the company includes the following. The main strength of the company is the already established brand. The quality of its products is also exceptional. The target audience (the general population) lies within the ages of 6 to 50 years and this means that once they (the group between the ages of 6 to 25 years) have bought a product from the company, they will most likely buy it in the future. Thus, this will is a great strength for the compan y because it will develop a long-term relationship with the company. The greatest weakness for the company is that it is still new in the market and the products it is launching are entirely new. Notions about the quality of the product may affect its penetration into the market. The rapidly changing tastes of the shoe buyers present a great opportunity for the company to become more innovative. Products that look trendy attract the consumers. For the company, it indicates that performance and comfort of the products need to be improved (Gray 2012, par. 4). Though the economic recession has adversely affected most of the industries, it seems to be a positive impact for the footwear industry. The economic recession has affected the consumer trends and they are purchasing what they require to survive. Items such as diapers, groceries, shoes, and medicine top the list of what the consumers are buying (Rosenbloom 2009, par. 1). Stiff competition from other footwear companies such as Nik e and Adidas is a major threat to the company (Packaged Facts 2009, p71). The name of the product is TOMS and it was introduced into the company at the start of the year. The aim of the company is to introduce the product to the sports audience and the general population. The selected target audience is the sports people and the general population. The demand for footwear products is driven by demographics and fashion (Gray 2012, par. 2). The global footwear consumption is