MB - Final Presentation.docx

8/20/2019 MB - Final Presentation.docx

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Executive Summary

Mystique Boutique is an innovative company that ofers women in the Tulsa area an

afordable, yet ashionable way to stay ahead o the latest trends. This proect details a

plan to ocus the company on the best ways to brea! out their ashion resources and

begin building their online presence. Targeted mar!eting will place the Mystique name in

ront o consumers that will "nd interest in the product and will directly impact the

success o the company. This plan emphasi#es the most pro"table areas or Mystique to

advertise as well as the cost bene"ts and the direct impact o these promotions. This will

lead to an increase in brand awareness, customer engagement and overall purchases.

Company Description

Mystique Boutique is located at $%%& 'herry (t. in the downtown 'herry (treet district o

Tulsa, )*. Mystique ofers upscale women+s clothing selections, ranging rom "erce,

sophisticated designs to un, irty, ashion orward apparel. Mystique also ofers

e-clusive personal style services which include a detailed style assessment or ourpatrons. Mystique is a emaleowned partnership that e-tends its products and media

e-posure to Tulsa and the surrounding areas o Bi-by, Bro!en /rrow, 0en!s, )wasso and

(apulpa.

Situation Analysis

Mystique Boutique is a new business, thereore our primary goal is to introduce our

boutique, create brand awareness and to urther maintain this brand awareness as we

grow and evolve. The (1)T /nalysis highlights our internal strengths and wea!nesses

and our e-ternal opportunities and threats. Being aware o our current situation will


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assist us in urthering our strengths and ta!ing advantage o our opportunities, while

"nding ways to minimi#e our wea!nesses and our threats.

SWOT AnalysisStrengths

2ocation

3ours o availability 4close at 5pm, Th(at6

7easonably priced comparatively

)wners have public relationsdegrees

(trong online presenceWeaknesses

2ower pro"t due to reasonableprices

Tedius wor! schedule due to laterhours

7ental costs are e-pensive

2ow stoc! volume

Opportunities

8estivals9events

Partner w9 other 'herry (treetshops ofer :;< discount withreceipt

2oyal customers

7evolving9seasonal ashion trends

Threats

Par!ing

'ompetition o other 'herry (treetboutiques

=conomy 4lac! o necessity6

/dvertising budget o higher endboutiques

Target Audience

O!ective

7each >;< o women in Tulsa and surrounding areas

• ?@,5&& women ages :@%; years old in the target area

• )ur reach goal, at >;


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• Tulsa, B/, 0en!s, )wasso, Bi-by, (apulpa•

(urchaser

• 1omen ma!e @>< o the purchases in the amily, so this boutique is clearly aimedat women speci"cally.

Competitive Analysis

•

1e believe a competitive analysis is crucial or establishing a point o diference or

your brand as well as or developing the competitive attac! plan. Csing a

competitive analysis in a strategic manner can lead to a number o media strategy

decisions. @

Cherry Street "ocal Shops

• )opeD BoutiqueD 'herry (treetD 1omens 'lothing 9 8aceboo! 9 Twitter

• The *est on Cherry St. D 3ome Ecor 9 8aceboo! D Mimosa (aturday eals D

change hours or all shopping D online drawings or ree merchandise• De Shops D 1omens 'lothing 9 8aceboo! 9 Fnstagram D ofer plus si#e clothing

(roduct (urchase Cycle

• :$ minutes to wal! past the window, see a ashionable out"t and decide to stop in

• %; min:.> hours on shopping trip or a speci"c item

• Guarterly (easonal shopping9rebuilding wardrobe 48all9(pring9(ummer91inter6

)each &oal

•

To reach >;< o women :@ %; yrs in Tulsa and surrounding areas• Total emale population :@%; yrs old in Tulsa and surrounding areas is ?@,5&&

according to suburbanstatistics.org.

o TulsaD %>,%5Ho Bi-byD :,%5?o Bro!en /rrowD &,$?5

o )wassoD $,%5@o 0en!sD :,;:>o (apulpaD :,>$>

o

)ur reach goal, at >;


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o

,orms o# Communication

• 8liers 4)peningI(easonal6

• Arand )pening Press 7elease

• (ocial Media Platorms

• (ocial Media /ds

• 'oupons

• 2ocal =vent 'alendars

• Jewspaper /ds

• 2oyalty 'ards

•

•


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,re.uency &oals

April 2/1- Strativity )esearch Study

o /lmost ?;< o customers interact with their avorite company atleast wee!ly, ma!ing the quality o customer interactions veryimportant.:

•

o 8requency o interaction builds loyalty and advocacyD @&< daily,H?< wee!ly, ?5< monthly and %%< ew times9year.:

•

,liers0o (ot )pening 8liers

(end out initial ier two wee!s prior to (ot )pening Jov.$H

(end out reminder ier one wee! prior to (ot )pening ec. %•

o (easonal 8liers (end out quarterly, prior to pea! season change (end out additional holiday advertisements in Jov. K ec.

•

o 'ostD L&;.?? annually

• 2/12 CO Council Direct arketing )eport states that ?;< o

consumers say that they have tried a new business ater receiving direct

mail, and &;< have renewed relationships with businesses that they had

previously ceased using.$

•

• 2/1' Direct ail n#ormation Service )eport highlights that over

&>< o direct mail is opened by the recipients while H%< read the contents.%

&rand Opening (ress )eleaseDo Printed once, prior to Arand )peningI printed ec. :? 487==6o Total Tulsa 1orld (unday 7eadership $5>,5?5o ?H< emale :%H,:%& emale readership o all ages?

Social edia0o 8aceboo! )nce or twice per day 487==6o Fnstagram )nce or twice per day 487==6


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•

•

Social edia Adso aily advertisements, 0anuary ecembero 'ostD L%,HH; annuallyo =stimated aily 7each?:;; women within >; mile radius

•

Coupons0

o )fer special deals and sales $% times per wee!o /dvertise on our social media platorms and event calendars

487==6•

• 2/1+ Capgemini Consulting Analysis only $>< o companies

reward loyalty program members based on nonpurchase interactions.>

• "ocal Event Calendars0

o /dvertise wee!ly as necessary 487==6

• *e4spaper Ads0o :% wee! contract 48ull page ad>w!s, 3al page ad@w!s, plus

banner ad on newspaper website or entire :%w!s6o 'ostD L&,>5$ annuallyo Total Tulsa 1orld (unday 7eadership $5>,5?5

o ?H< emale :%H,:%& emale readership o all ages?

• "oyalty Cards0

o Printed semiannually and presented to customers

•

•

• 2/1- "oyalty )eport states that &H< o /mericans thin! that

loyalty programs are part o their relationships with brands.H•

• The 2/1- )eality o# )etail )eport says ?H< o shoppers who

use loyalty programs consider them to be important in their decision to

purchase.&•

•

• Total Audience mpressions


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•

7eachN - 8requency Total /udience Fmpressions•

•

&rand Opening (ress )eleaseo (unday emale readership 4all ages6 in target area :%H,:%&o :%H,:%& - : (unday Press 7elease 1'361'5 TA

•

• Social edia Ads

o 8emale reach 4all ages6 within >; mile radius ?:;;o ?:;; - %H> 4daily ad6 16+736-// TA

•

• *e4spaper Ads

o (unday emale readership 4all ages6 in target area :%H,:%&

o :%H,:%& - :% (unday /ds 165376581 TA•

•

•

•

•

•


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mplementation (lan

•

edia O!ectives

• Fntroduce our company and

create brand awareness

• Fncrease our online presence

using social media platorms

• 7each $?,?@@ women :@%;

yrs old in target area at least

:; times9wee! using social

media• 7each ?H< o emale

readership 4:%H,:%& all ages6

through print circulation at

least once9wee!?

• Fncrease customer

participation 4li!es, shares,

retweets, hashtags6 by >;<

within % months

• Fncrease sales by :;< within

the "rst %H months o our

media plan

•

•

•

edia Strategies

• 8liers

4)peningI(easonal6• Arand )pening Press

7elease• (ocial Media Platorms

• (ocial Media /ds

• 'oupons

• 2ocal =vent 'alendars

• Jewspaper /ds

• 2oyalty 'ards


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•

•

•

edia Tactics0

So#t Opening ,liers0o Fnvite close riends, ashion bloggers, media outlets, and amily

)J2O or a snea! pea! o the boutique, with the request that

everyone tal! about and share pictures9statuses about our

boutique via Blogs, 8B, Fnstagram and Twitter.9uarterly:Seasonal ,liers0

o Post iers in our window at the boutiqueo Post iers around town and surrounding areas such as Bi-by, B/,

)wassoo Mail9email iers to media outlets and ashion bloggers

nstagram0o Cpload images o latest ashionso Post once or twice per dayo Cse hashtags such as Nmystiqueboutique Ntshirttuesday

Ntan!topthursday

o )fer :;< of coupon when customer uses hashtag showing ofour product

,aceook0

o Post once or twice per day between the times o 5am and >pm.

4Business hours6o Cse hashtags and catch phrasesD Nwearablewednesday

Nirtyridayo Cpload images o latest ashion K new styles in store wee!lyo Promotional giveaway or sharing our brand9store

Coupons0o )fer special deals and sales $% times per wee!o /dvertise on our social media platorms and event calendars

487==6 *e4spaper Ads0

o :% wee! contract 48ull page ad>w!s, 3al page ad@w!s, plus

banner ad on newspaper website or entire :%w!s6


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"oyalty Card0o )fer loyalty cards to all purchasing customerso 'ustomers get a hole punch or every L>; spento 'ustomers will receive :>< of purchase ater getting :; holes

punched•

"oyalty Card

•

•


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•

•

So#t Opening ,lier


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;oliday ,lier


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,aceook


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•

•

,aceook


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nstagram

•

•


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%udget (ie Chart

•

edia ,lo4 Chart


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•

•

•

Testing $ Evaluation

Arand )pening 'ustomer poll 1hat brought you inQ

(ocial Mediao Trac! li!es, shares, comments, customer engagemento Trac! number o coupons and associated discount

2oyalty 'ardso Trac! #ip codes to locate customer base inormationo Trac! loyalty cards given and cards cashed in

Trac! consumer receipts brought in to monitor local shops9competition use

•

•

•

)e#erences

•

: httpsD99strativity.com9aprilnewstheinuenceorequencydelightonloyalty

inographic9


19/19

•$ httpsD99www.cmocouncil.org9actsstatscategories.phpQ

viewallKcategorydirectmar!eting

•% httpsD99www.aabacosmallbusiness.com9advisor9directmailmar!etingsmall

businessadvice :>$%:$;>$.html

•? httpD99www.tulsaworld.com9app9media!it9downloads9rates9Jational.pd

•> httpsD99www.capgemini.com9resource"leaccess9resource9pd9rede"ningRloyaltyR

programsRcapgeminiR consulting. pd

•H httpD99ino.bondbrandloyalty.com9theloyaltyreport$;:>

•& httpD99www.inreality.com9resources9report9$;:>;%%:9

•@ *elley, 2arry ., *im B. (heehan, and onald 1. 0ugenheimer. 'hapter @. Advertising

Media Planning: A Brand Management Approach. %rd ed. /rmon!D M.=. (harpe, $;:$. H;.

Print.

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Documents

MB - Final Presentation.docx