Marketing Plan for Kai Alexander Coursework (Coursework Sample)

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Marketing Plan for Kai Alexander
Market overview
Kai Alexander is a customized swimwear manufacturer based in Queensland, Australia. The market for customized swimwear has several players some of whom have operated in the market for a long time. The main market segment for Kai Alexander is the young individuals between the ages of 16 and 29. Most of these people use swimwear when they are touring different places since they are outgoing. According to De Guzman, this is a new breed of leisure and fun seekers whose destination choice rides on the desire for bonding and revitalizing activities (De Guzman 864). They spend their money on activities that combine extreme fun with extreme exercise. Here, emphasis is on cultural festivals, which foster a sense of identity, and solidarity with a cultural subgroup. Due to their need for bonding, they travel in groups of like-minded peers who provide a spirit of togetherness and celebration. The potential market in this segment numbers over 10 million young women who love outdoor activities (Tourism Queensland 30).
Competitor analysis: SWOT Analysis
The objective of SWOT is to offer meaningful understanding to marketing managers about the key competencies in an organization after assessing information gathered through market intelligence. The information is utilized in exploiting opportunities, connecting them with the organizational objectives and strengths and to identify threats and diminish the impact of weaknesses (Agarwal, R., Grassl, Pahl 18). Some of the biggest firms competing with Kai Alexander include Skye and Staghorn, Lottie Hall, and We are Handsome. We are Handsome, opened its doors in 2013, and boasts some of the best designs and has managed to carve out a niche for itself as a creative designer with exciting and unique swimwear. Lottie Hall and Skye and Staghorn also have a reputation as designers of exquisite, chic, and delightfully artistic pieces of swimwear (Lottie Hall; Skye & Staghorn; We are Handsome).
One weakness that Kai Alexander faces, that is an opportunity for the competing firms is the obvious lack of experience in handling fashion matters. Lack of experience is an existential risk that the company faces as a new enterprise. It therefore needs to acquire the necessary experience before it can venture into the market. There is an uphill task of developing a clear marketing plan since most of the staff is clearly inexperienced.
One major strength that these companies have is recognizable brand names. Some of these big brands have been in existence for several years making their brand names easily recognizable. The field of product branding has grown into a big industry and gained its place as an important part of everyday life influencing how people perceive products. Schiffman and Kanuk suggested that consumers have a liking for brands that they share personality traits. This affects the relationship between the brand and its consumer. Consequently, a consumer is likely to develop an emotional connection to the brand. It is clear that certain features of a consumption subculture, such as its apparent sense of stability and longevity, and the stoutness with which it re-creates product and brand meanings with the company, make it even more interesting from a marketing viewpoint (Schiffman and Kanuk 147). New brands such as Kai Alexander do not have this connection with the customers.
The main threat and weakness that these companies face is the fierce intra-industry competition. The competition amongst the firms ensures that each firm only controls a small portion of the market. Moreover, this reduces the profitability for each firm, as they have to keep their prices low to attract customer.
Gaining competitive advantage
For Kai Alexander to gain competitive advantage, it must compete based on an aggressive online marketing strategy and through delivering high value to its clients using creative designs. That means that the company has to employ top-notch designers that give the company a competitive edge in product design.
Kai Alexander will drive sales through the internet. It will employ three strategies that will converge to increase online sales of swimwear. First, the business will have an e-commerce website that will be the main sales driver. Customer visiting the website will access catalogues of designs available and their prices. They will have the option of paying through various online methods. The next strategy will be the social media strategy. The target group is a heavy user of the internet especially the social media. The company will capitalize on this to interact with them as a means of engagement and offer solutions tailored to meet their needs. Finally, Kai Alexander will develop a mobile application that customers will download from play stores. The application will have several capabilities; for instance, the customer can download pictures of clothing designs, can view prices, and complete an online purchase.
Target market
The marketing campaign will use Segmentation, Targeting, and Positioning technique (STP) to gain valuable insight into the nature of people who are potential clients for Kai Alexander. The target market are women between the ages of 16 and 29. At the left extreme of this group, the women have just joined college while at the extreme right, the women are in young marriages, and are just kicking o...