Strategic Marketing Plan Pier 1 Imports

Getting teenagers to buy your items can be really complicated, especially with new trends changing from month to month. Even though the average consumer can’t possibly think how these stores are able to keep up and manage the sudden changes in culture the community brings, they do know that each day in a store brings new products and different arrangements throughout the store to fit the consumer's needs. Specifically enough, each store creates an image for themselves that exemplifies the culture and shows us something about the times we live in at that moment. Hot Topic influences the way the consumer buys their products by integrating family friendly items and American pop culture within their products in order to appeal and attract customers into buying merchandise that is relevant and trending.

Pier 1 sells decorative merchandise that applies to every aspect of the home including textiles, bath and fragrance products, seasonal items, decorative accents, furniture, and dinnerware (Pier 1 Imports, Inc, 2014). All merchandise is imported from several countries and goes to distribution centers before arriving at Pier 1 locations. The company has a website for selling items, but not all items online are sold in stores due to each store have a slightly different stock. According to its website, Pier 1 offers delivery of goods ordered online as well as in home delivery where the item is delivered directly to the home and assembled for the customer. The company also has free in-store pickup of products.

Our team decided to choose the “Broad Differentiation” strategy as the basic strategy for our company. We will attempt to differentiate our product line in several distinct dimensions. By providing products that are vastly superior and unique from our competitors and pricing the products with an affordable price, we can gain something that is beneficial for the company in the future, which is customers’ loyalty and awareness. We may change or modify our strategy for the next round depending how it performs against our competitors.

Low product differentiation and economies of scale: There isn’t much product differentiation at play in the retail industry as there are well known manufacturers whose products are offered for sale, which leaves price to compete on. Current well established retailers with thousands of stores enjoy the economies of scale to control their cost that a new entrant might not be able to replicate after immediately entering the industry.

weekend shoppers they are extremely significant to us too, and we will be targeting them to as well to having a food at Italian flower, their the majority of age is between 40 to 45 years older and their income generally 45,000 dollars per year.

The candles normally used are Biosun ear candles, which are made by hand today using the traditional recipe incorporating

With our main objective in mind, we have proposed an Integrated Marketing Campaign that is geared towards our target market of young adults. By choosing alternate forms of media that appeal more to our younger target market, we can place Macy’s in these customers’ evoked set. For example, we plan to use media outlets such as social media websites, television, magazines

House decorations will be costly to make and will not attract our target audience. This product should be targeted at people of older ages, if we had a possible audience of an older target audience we would have been able to make sales. This product will definitely not attract a teenage audience.

Scented candles can float or burn forever in the form of large church style candles. Votive candles hang in bunches from metal trees and sit in gardens during warm summer evenings. You can get them in jasmine, ginger and

In differentiation strategies, the emphasis is on creating value through sustainable uniqueness. This can be achieved through product innovations, superior quality, or superior service, which is then sustained and leveraged through creative advertising; brand-building and strong supply chain relationships. Another requirement for a successful differentiation strategy is that customers must be willing to pay more for the uniqueness of a product or service than the firm paid to create it. A differentiation strategy will lead to higher firm performance only if buyers value the attributes that make a product or service unique enough to pay a higher price for it or if they choose to buy from that firm preferentially. If

The misunderstanding, we believe, is a result of CFL not having researched its new target group. Teenagers have different wants and needs than young children and parents with regard to product attributes. The survey states that teenagers have a great influence when it comes to buying new furniture. The opinion of this target group has to be taken into account.

1. To double our profit each year for the next 10 years and then minimize

The Papa John’s case provides a classic example of a company that entered a highly saturated and mature market and was able to enjoy immense growth and success due to its creative product differentiation strategy. The company’s motto has been consistent from the day the first restaurant was opened: Superior ingredients and a superior product from its competitors. John Schnatter took the basic concept of product differentiation and positioning to new heights as he created a strong global brand, which had an unprecedented track record of success and customer loyalty over its competitor’s pizza products.

Differentiation can be achieved in a variety of ways: unusual features, responsive customer service, rapid product innovations, technological leadership, perceived prestige and status, appeal to different tastes, and engineering design and performance. Methods of controlling costs, however, may be limited. The ability to price differentiated products competitively will be important for reducing upward pressure on customer prices so that they do not exceed the level customers are willing to

Demographics: over 55 years old, as well as small group of women aged between 25 and 45