Marketing Plan for Premium Jewellery Coles in Au
IMC – STAGE 1 – KNOWING YOUR AUDIENCE
Our Marketing Agency, Outsmart, has been approached by Coles to develop an Integrated Communications Campaign to launch their new product range called “Coles Premium Jewellery.”
Our first step is to identify and analyse the selected Target Audience for this campaign.
TARGET AUDIENCE
Following extensive research, we decided to select a broad target audience based on the criteria’s of location, age and income. Our target audience is women aged 35 to 50 years old with mid-level joint household incomes ($80,000 to $200,000) located within major cities in Victoria and New South Wales. In order to effectively tailor our communication we have further segregated this audience into working woman and housewives with children.
A summary of our finding to justify this selection is as follows:
Location
We looked at disposable income and population when deciding on the location of the Target Audience for this campaign. We initially shortlisted our locations to WA, NSW & VIC as these states had the highest disposable income. We then removed WA and decided to focus on VIC & NSW. The reason for this is although statistics indicate the families in Western Australia have the highest average disposable household income (Australian Bureau of Statistics, 2011, p. 34), New South Wales and Victoria have an overwhelming population advantage that fit within our target audience over Western Australia (Australian Bureau of Statistics, 2012, p. 1). Due to our limited budget we believe NSW & VIC give us the greatest penetration within our audience base and the highest return on investment of our communication dollars.
Age
According to a report from IBISWorld, the age group from 26 to 49 represented half the revenues within the jewellery market between the financial year of 2011 to 2012 (IBISWorld, 2012, p. 14). In general, younger consumers, especially women, would have higher demand of fashion accessories such as jewellery. However,
Our Marketing Agency, Outsmart, has been approached by Coles to develop an Integrated Communications Campaign to launch their new product range called “Coles Premium Jewellery.”
Our first step is to identify and analyse the selected Target Audience for this campaign.
TARGET AUDIENCE
Following extensive research, we decided to select a broad target audience based on the criteria’s of location, age and income. Our target audience is women aged 35 to 50 years old with mid-level joint household incomes ($80,000 to $200,000) located within major cities in Victoria and New South Wales. In order to effectively tailor our communication we have further segregated this audience into working woman and housewives with children.
A summary of our finding to justify this selection is as follows:
Location
We looked at disposable income and population when deciding on the location of the Target Audience for this campaign. We initially shortlisted our locations to WA, NSW & VIC as these states had the highest disposable income. We then removed WA and decided to focus on VIC & NSW. The reason for this is although statistics indicate the families in Western Australia have the highest average disposable household income (Australian Bureau of Statistics, 2011, p. 34), New South Wales and Victoria have an overwhelming population advantage that fit within our target audience over Western Australia (Australian Bureau of Statistics, 2012, p. 1). Due to our limited budget we believe NSW & VIC give us the greatest penetration within our audience base and the highest return on investment of our communication dollars.
Age
According to a report from IBISWorld, the age group from 26 to 49 represented half the revenues within the jewellery market between the financial year of 2011 to 2012 (IBISWorld, 2012, p. 14). In general, younger consumers, especially women, would have higher demand of fashion accessories such as jewellery. However,
References: 3. Herbert E.Krugman, 1972, ‘Why Three Exposures May Be Enough’, Journal of Advertising Research, vol. 12, no. 6, pp. 12-14. 4. IBIS World, Magazine Publishing in Australia: Market Research Report, viewed 17th August, 2012 http://www.ibisworld.com.au/industry/default.aspx?indid=170 6. Leiss, W, Kline, S, Jhally, S & Botterill J, 2005, Social Communication in Advertising, Consumption in the Mediated Marketplace, 3rd edn, Routledge, New York. 9. Ritchie, K, 1995, Marketing to Generation X, The Free Press, New York. 10. Socialbakers 2012, Australia facebook Statistics, viewed 18 August, 2012 12. The Australian Bureau of Statistics 2012, Australian Demographic Statistics, cat. no. 3101.0, ABS, Canberra, viewed 17 August, 2012, AusStats database. 13. Thinkbox 2012, Audience profiles, viewed 17 August, 2012, http://www.thinkbox.tv/server/show/nav.914 14