Women's Shoe Store Marketing Plan
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Part of Passion Soles' marketing strategy will be based solely on location. Passion Soles is located in a trendy mall that receives abundant walk-through traffic. This location will cost a premium and will not be directly linked to the marketing budget as rent has been categorized under general overhead. Another form of marketing to be described later in detail will be advertising. The strategy of the marketing campaign is to increase the target customer's awareness of Passion Soles. Mission
Passion Soles' mission is to provide Tacoma with an upscale selection of women's shoes and outstanding customer service. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers. Marketing Objectives
• Increase repeat customers by 7% per quarter.
• Decrease customer acquisition costs by 8% per year. • Build an effective pull campaign, bringing in new customers at an increased rate of 9% per quarter. Financial Objectives
• Experience a double digit growth rate for the first three years. • Reduce store overhead by 5% each year.
• Reach profitability by the end of year two.
Passion Soles is targeting two population segments within the broad category of the fashion conscious female with disposable income. • Professionals: these are full time working professional women. They typically earn more than $45,000 themselves. They will purchase shoes for the workplace as well as for leisure time. This group is being targeted as they work full time and therefore have the need for many different pairs of shoes for all of their different outfits. They also have the money to spend on shoes and will take advantage of this reality as women typically love to collect lots of...
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