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Marketing Final

Full Marketing Plan for Target and Neiman Marcus Project

Melissa Becker

on 10 January 2013

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Transcript of Marketing Final

Overview Of Target Description of Product SWOTT Attributes of Product Positioning & Differentiation Organizational Buyers & Consumers Factors On Purchasing Decisions & Affects Marketing Strategy Target Market Segmentation Criteria Identify Target Market Current Competitors & Landscape Distribution Channels Pace of Product Life Cycle & Its Affect on Marketing List of Assumptions Importance
of Marketing Effectiveness of
Marketing Plan Quantifiable Elements Marketing Research
Approach Public Relations
Opportunities Channel Management
Decisions Price Strategy Place & Promotion Strategy Sales Promotion Schedule Advertising Plan Financial Budget Jeff Andersen
Daniel Babcock
Melissa Becker
Salvador Palomera
Pedro Tafolla Questions References: “Expect more, pay less”
Previous Successfull Partnerships
Successfull During Recession Neiman Marcus Designers at Target
Designer Products at Affordable Prices
Diversify Product Line at Target Stregnth: Unique
Weakness: Short Time Line
Opportunity: Expand Line
Threat: Competition
Trend: Unique Luxury
Brands High Quality Creativity Premium
Pricing Separates from Other Big Box Stores
Separates from Other Designer Stores
Unique & Desirable Products Target Buying from Neiman Marcus
Opportunity for Middle & Lower Class Personal
Cultural Segment Structural Attractiveness
Segment Size and Growth
Company Objectives and Resources Slightly Above & Below Middle-Class
Prior Neiman Marcus Customers
"Revenge" Viewers Ages 19-49 Discount Variety Store Industry

Subcategory: Amazon, Macy's Kohls
Walmart VS Target Overall Cost
Lobby Features Starbucks VS McD's Placement Shipping Middlemen Associated Costs Introduction
Decline Jump Through Intro
Large Ad Campaign
Missed Customers
Discounts in Price Stir-up interest
Facebook Page Postings
Facebook Banners / PPC
Google Ad Banners
TV Commercials
ABC "Revenge" Merchandise
ABC "Revenge" Commercials Past Partnerships
Community Outreach Evaluate
Control Gather & Analyze Promotional Effectiveness Think Like the
Being the Customer
Multiple Mediums Fashion Designers
"Revenge" Show Commercial Series
Merged Logo/Icon Surveys
Online Data Mining
Maximize Quantity
& Availability Front of Departments
Featured on Target.com
Different Distribution Channels Frequently Advertising Before & During
January = Discounts
Spring Potential High Impact
Many Mediums Armstrong, G., & Kotler, P. (2011). Marketing An introduction [University of Phoenix Custom Edition eBook]. Upper Saddle River, New Jersey: Prentice Hall. Retrieved from University of Phoenix, MT421 - Marketing website.
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Cannon, J.P., McCarthy, E.J., & Perreault, WQ.D. (). Basic marketing (18th ed.). Retrieved from The University of Phoenix eBook Collection database.
Costco [Photograph]. Retrieved December 20, 2012, from: http://greenbayconsumer.com/2012/09/costco-coming-to-green-bay-in-2013.html
Department stores target [Photograph]. Retrieved January 1, 2013, from: http://www.businessinsider.com/presenting-barclays-top-stock-picks-for-every-industry-on-earth-2012-9?op=1
Differentiation-strategies-background-concept [Photograph]. Retrieved January 1, 2013, from: http://k2-com.com/html/news_details.php?Positioning-Yourself-for-Success.-3
Kim, L. (2012, May 15). Google display network vs. facebook advertising [infographic] . Retrieved from http://www.wordstream.com/blog/ws/2012/05/15/ipo-facebook-vs-google-display-advertising
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Steinberg, B. (2012, November 09). Target's '“Revenge”': Ads appear no matter how you watch the show. Retrieved from http://adage.com/article/media/target-buys-ad-time-sunday-s-”Revenge”/238226/
Direct competitor comparison. (2012, December 17). Retrieved from http://finance.yahoo.com/q/co?s=TGT Competitors
Ehow Money. (2012). Retrieved from http://www.ehow.com/info_8114115_factors-influence-consumer-purchasing.html
Foxnews.com. (2012). Retrieved from http://www.foxnews.com/story/0,2933,60075,00.html
Gross, D. (2005). The neiman marcus paradox. Retrieved from http://www.slate.com/articles/business/moneybox/2005/05/the_neiman_marcus_paradox.html
Hub Pages. (2013). Retrieved from http://bilaras.hubpages.com/hub/DEVELOPING-YOUR-ADVERTISING-PLAN
Kmart [Photograph]. Retrieved December 20, 2012, from: https://www.recyclebank.com/partner/Kmart-com-6051
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Perreault, W. D. Jr., Cannon, J. P., & McCarthy, E. J. (2011). Basic marketing: A marketing strategy planning approach (18th ed.). Retrieved from The University of Phoenix eBook Collection database.
Strategic brand differentiation [Photograph]. Retrieved January 1, 2013, from: http://aytm.com/blog/research-junction/prioritizing-differentiation-in-brand-strategy-part-1/
Target 2011 annual report. (2012, March 15). Retrieved from: https://corporate.target.com/annualreports/2011/images/company/annual_report_2011/documents/Target_2011_Annual_Report.pdf
Target reports november sales results. (2012, Nevember 29). Retrieved from” http://investors.target.com/phoenix.zhtml?c=65828&p=irol-newsArticle&ID=1762842&highlight=
Target reports third quarter 2012 earnings. (2012, Nevember 15). Retrieved from: http://investors.target.com/phoenix.zhtml?c=65828&p=irol-newsArticle&ID=1759107&highlight=
Target Neiman Marcus [Photograph]. Retrieved December 20, 2012, from: http://www.dailyfinance.com/2012/07/10/target-and-neiman-marcus-an-odd-fashion-pairing-not-at-all/
Target Neiman Marcus [Photograph]. Retrieved December 20, 2012, from: http://rollingout.com/culture/top-christmas-gifts-to-buy-at-target-neiman-marcus-holiday-collection-sale/
Target x Neiman Marcus [Photograph]. Retrieved January 1, 2013, from: http://www.thebudgetbabe.com/archives/5191-Target-x-Neiman-Marcus-Holiday-Collection-The-Complete-Lookbook.html
Target x Neiman Marcus [Photograph]. Retrieved January 8, 2013 from: http://www.target.com/c/target-neiman-marcus-collection/-/N-5ouwb#?lnk=sr_rd_neiman_target
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Full transcript