Marketing management report Term Paper Example | Topics and Well Written Essays - 2000 words

Marketing management report - Term Paper Example on leveraging Korra’s product strengths to position itself as a premium brand, to realize higher margins from lower revenues and as a means to differentiate itself from the market. This translates to a sourcing strategy that shuns China as a supplier of products, because of quality issues that are incompatible with its premium and quality proposition. Opportunities in marketing online, via Facebook and Google and other relevant social media platforms, can be pursued, with promotions budgets aligned with sales (Hae, 2014). The challenge is to provide a comprehensive marketing plan for Korra Dancewear, by way of providing advice and guidance to Karolina Swietoniowska, who is the firm’s owner and primary creative force/designer. Based in Canada, in Ontario, the challenge is finding means to drum up interest in the new collection of dancewear created by the owner, and being solely focused on the online channel, and the goal is to translate improved attention to greater revenues, all while working with constraints in funding. These constraints translate to formidable challenges marketing-wise, and the owner has in mind a strategy that focuses on several key aspects of any marketing plan. Those aspects relate to promotions, extending the product line, and focusing on modes of distribution. Overall, the owner’s goal is to realize monthly sales of between $1, 000 and $2,000 every month by the start of 2014, and the marketing plan is the lynchpin by which Swietoniowska hoped to realize that reve nue goal (Hae, 2014). The channel for sales is online, and the selling prices of individual pieces of wear that the owner sold were along the range of between $40 and $70. The product range consisted of seven items broken down into 18 stock keeping units or SKUs, with the sizes options limited to medium and small. Of the seven items, six items each contributed five percent to overall sales, while one item, the Kai Bodysuit, contributed seven dollars out of every ten dollars