Introduction
The bridal wear plan to expand offers its consumers various categories for women. The bridal wear collection will encompass current design aesthetics and offer great functionality and quality that consumers in the new market require. Therefore, this paper highlights the marketing mix for the bridal wear, which includes the product, price, place, and promotion.
Objectives
As an organization, facing financial pressure to provide high-quality gowns at a reasonable price, bridal wear has to decide on different options on how to increase its market share, customer base, and sales. For the coming year, bridal wear has to focus on the interests of women between the ages of 25-40. The organization must revamp its advertising strategies or campaigns via targeting, which will bring the company the greatest ROI including the social media/internet, catalogues, and magazines.
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Product
The bridal wear is expected to become a household name and a successful brand extension in new markets and create a dedicated consumer base. Therefore, bridal wear success will highly depend on brides between the ages of 25 to 40, as well as the organization’s brand image perception, which the business needs to promote through its multi-channel sources (Engel, Hack & Kellermanns, 2015). Bridal wear intends to attract new markets successfully through its marketing strategies and creative promotional strategies.
The brand has had many successful brand expansions, which is different many brands because it will offer brides accessories, jewelry, and footwear. Bridal wear is known for its superior strength of design and quality by using exciting designs that attracts the customers. The line’s success will be derived by the organization’s attention to the quality and function with an equally greater standard of attractive designs, which shall differentiate the brand from various competitors. These styles and clothes first serve the idea of royalty. In addition, the dresses are very stylish and comfortable where the cut of the attire, fabric, and styles gel with an individual’s taste.
Price
Bridal wear aims at getting the bride the best dress for a fair price. Therefore, the gowns will range from 600 dollars to 2,500 dollars with numerous gowns selling under 1,500 dollars. The target market for bridal wear are millennials who generally spend more on apparel and are ready spend more money on authentic brands. As mentioned above, bridal wear provides a range of products including jewelry, gowns, and shoes to offer brides everything and anything they require for a perfect wedding. Additionally, approximately 75 percent of consumers buy a gown for less than 1,500 dollars. Bridal wear product market has utilized the response and needs toward creating products as the primary foundation of its market segmentation. Therefore, bridal wear will focus on targeting brides whose budget is of 1,500 dollars and below. Consequently, the organization has to maintain the price because it provides an extended range of products (Engel, Hack & Kellermanns, 2015).
Like everything else, the bridal gowns business market, changes with time. As the business matures and the bridal wear market share increases steadily, the business will possibly start encountering the growth restrictions of the original target market.
Promotion
Not only does bridal wear utilize its price and product to attract consumers, however, the company uses different promotional ads to attract new customers. As I previously mentioned, the level of competition in the bridal business is very high with major competitors including Dolly Couture, Bridal Reflections, and Chernaya Bridal House (Wright, 2017). Therefore, an interesting promotion is an email-test initiative.
Bridal wear will use the program since it is aligned with how millennials revive important information. If an individual compares the email-test program to prit or broadcast media, the email-test has a significant ROI. The test will result to high buy rates, click-through rates, high open rates, and spend per purchase. In addition, bridal wear uses promotional ads through magazines and catalogs. Nevertheless, instead of concentrating on magazines and catalogues, bridal wear has to focus on social media/ internet sources, email campaigns, and direct emails. This is because technology will have a massive effect on the business since most millennials search for things online before making physical purchases (Wright, 2017). Via these digital vehicles that I have mentioned, it is easy to attract potential buyers in the millennial group. However, the most important part is that the adverts will capture the minds and hearts of consumers.
Place
Implementing and planning a growth strategy to expand one’s business and develop new markets before the current markets flatten will only assist one’s business to survive tough times. Therefore, even though bridal wears’ physical address is in the United States, the goal is to reach global consumers since most individuals shop online. In addition, bridal wear should have stores in different cities including Italy because In Italy, originality pays. Therefore, the brand will thrive in the Italian market. Furthermore, the brand has realized extended levels of recognition as where to get the best gown for your money’s worth. Hence, with bridal wear’s placement, promotion, price, and product strategy, bridal wear will be identified for the quality and price in the wedding business.
Conclusion
In conclusion, bridal wear intends to attract new markets successfully through its marketing strategies and creative promotional strategies. Bridal wear refers to clothes or garments that offer comfort, style, comfortable, and are made from a suitable material. Consumers care for the brand because it serves the idea of royalty through its very stylish and comfortable wedding gowns where the cut of the attire, fabric, and styles gel with an individual’s needs. Like everything else, the Bridal Wear business market, changes with time. The organization’s product market has utilized the response and needs toward creating gowns as the primary foundation of its market segmentation. Nevertheless, instead of concentrating on magazines and catalogues, bridal wear has to focus on social media/ internet sources, email campaigns, and direct emails.The bridal wear plan to expand offers its consumers various categories for women. The bridal wear collection will encompass current design aesthetics and offer great functionality and quality that consumers in the new market require. Bridal wear’s success will be derived by the organization’s attention to the quality and function with an equally greater standard of attractive designs, which shall differentiate the brand from various competitors. I have changed my vision of fashion into a world-leading brand (Bridal Wear).
References
Byrd, M. J. (2017). Small business management an entrepreneur's guidebook . New York, NY: McGraw-Hill Education.
Wright, C. (2017). Business boutique: a woman’s guide for making money doing what she loves . Brentwood, TN: Ramsey Press.
Engel, P., Hack, A., & Kellermanns, F. (2015). Setting the right mix—Analyzing outside directors’ pay mix in public family firms. Journal of Family Business Strategy , 6 (2), 130-140.
