Vogue Armenia and Fashion Show Opening Event: Marketing Plan

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“Vogue Armenia” and Fashion Show Opening Event
Marketing Plan

MKT 369 Practicum in Marketing Communications

Professor Gail Hamilton & Louise Holloway

Prepared by: Anahit Grigoryan, Ani Oganesian, Nairi Zovelian April 27, 2012

Table of Contents
Executive Summary…………………………………………………………………………………………………3 Current Marketing Situation……………………………………………………………………………………4 SWOT Analysis………………………………………………………………………………………………………..6 Target Market…………………………………………………………………………………………………………6 Positioning and Competitive Map…………………………………………………………………………..7 Price……………………………………………………………………………………………………………………….10 Distribution…………………………………………………………………………………………………………….10 Sales Force……………………………………………………………………………………………………………..10 Advertising & Promotion……………………………………………………………………………………..…11 Action Program……………………………………………………………………….……………………………..12 Organizational Objectives……………………………………………………………………………………….13 Financial Forecasts……………………………………………………………………………………………….…13 Bibliography……………………………………………………………………………………………………………16 Module B Research Portfolio………………………………………………………………………………….18

Executive Summary

“Vogue” Magazine is popular worldwide and has entered 19 nations to become the number one fashion magazine. The purpose of this paper is to set forth a marketing plan by which the company can add another product to its line, “Vogue Armenia.” As “Vogue’s” niche market is growing in Armenia and the economic situation is stabilizing, there is a firm opportunity for “Vogue” to enter the country with its own international edition and be accepted among the target market. “Vogue Armenia” target market includes women with high disposable incomes and a sense for fashion and culture. Market research has proven that there is a need for “Vogue” in Armenia. After thorough analysis of our primary and secondary research sources, we have comprised a marketing mix relevant to the magazine’s entrance into a growth market. The “Vogue Armenia” Fashion Show Launch Event will be especially important in terms of attracting our target segments, and firming our position in the market.

Current Marketing Situation

Market Situation
The printing and publishing market in Armenia at this moment is relatively sophisticated, with many existing companies in the sphere. Companies are not highly differentiated and do not target special segments. This sphere has become more active in the last 2 years, when the number of imported international magazines started to increase dramatically. At the same time, local publishing companies and “Cosmo” entered the market. There could be several reasons to explain this activity. First, living conditions started to improve in the last years as the country entered the recovering phase after global recession and the disposable income of households increased accordingly. Secondly, our youth's interest in Armenian pop stars and fashion style created demand for professional magazines dedicated to satisfy these needs. At this moment there are more than 10 magazines in Armenian and up to 10 in other languages, which apply the same marketing strategy (some exception: “Cosmo Armenia”), with no significant difference in the prices (this implies journals and magazines in the same segment).

Macroeconomic Situation
The Republic of Armenia is a landlocked country surrounded by neighboring countries with which there are no economic, legal or social relations and are relatively difficult to deal with. RA covers an area of 29743 sq km with average population of 3 mln. Neighbor countries are Georgia, Iran, Turkey and Azerbaijan. All of these facts make it very difficult for Armenia to become a really developed country with international standards. At this moment Armenia is already recovering from the global depression, the unemployment level is decreasing; the average income per capita is enlarging. GDP for the last 3 years is increasing constantly (for 2011- 4,6%, 2010- 2,6%, 2009- 14,2% and 2008- 6,9%). In the last years Armenia is...
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