Kate Spade
New York
Marketing Plan Marketing Budget Total wholesale = 5,500 Total number of store locations = 20 5,500 x 20 = $110,000 Total Budget 110,000 x .20 = $22,000 Phase 1: Intro Objective: Introduce a new cosmetic line to the Kate Spade collection, while building brand loyalty with current customers and increasing sales by 5% by the second quarter. Budget: $6,600 Strategies: To introduce quality cosmetics in a fun, playful packaging at a reasonable price point. Tactic: Hold a product launch at the top 10 Nordstrom locations where our products will be sold. These launches will include: free makeup tutorials using Kate Spade makeup, makeup artists, DJ, balloons, and beverages. Invitations will be sent out via email through all of Nordstrom and Kate Spade subscribers. The event will also be posted on the Nordstrom website for those 10 particular locations.
Kate Spade
New York
Phase 2: Maintenance Objective: Continue to strongly promote Kate Spade cosmetics and selling half of inventory 5 weeks Budget: 13,200 Strategies: Making way into online makeup bloggers tutorials, especially ones that have a strong following. Ads in fashion magazines that reach our target market Tactic: Contacting major makeup bloggers (Tanya Burr) and giving them free samples so they can use in their tutorials. Makeup artist Tanya Burr has a strong following, and gives genuine reviews about the products she uses. This would almost essentially be free of cost minus giving the product free of charge to the blogger(s). Having a Kate Spade Beauty Ads put into major fashion magazines. Most of the budget would be put into this tactic. This would require hiring staff to work on the beauty ad.
Phase 3: Clearance Objective: Sell out of the seasonal colors and get ready for new. Get reviews on product Budget: $2,200 Strategies: Price points of the seasonal colors will drop a little Customer reviews Tactics Each location will be dropping price points based on color. Natural colors will always be the same price and never go on sale. The makeup consultants will be pushing those colors for sale. Each location will be asked to collect comments/reviews of the product from clients and summarize the feedback in a email to corporate at the end of the day. Â Â
Kate Spade
New York
Marketing Control Methods Introduction For this stage we plan on having an event with music, beverages, and makeup tutorials. During this event new customers can try on our makeup and become familiar with the brand and formula. With every purchase we will give a free trial size lip-gloss. The incentive to purchase then would be the free gift with any purchase of Kate Spade cosmetics. Maintenance For this stage we plan to give a 10% discount for the new customers that have discovered Kate Spade Beauty through makeup bloggers. For example, there would be a special online code for that particular blogger and her followers. The blogger and followers would receive an online 10% discount. This would be an incentive for the bloggers to review Kate Spade products for their followers. Clearance For this stage our makeup artist, in store, will be marketing both our seasonal and neutral colors. They will be, preferably, selling the seasonal colors as an add-on because they will be discounted by 20%. Our neutral will never be discounted. The incentive of this stage is to add on the seasonal colors for a discounted price.
Kate Spade
New York
Contact: Kate Spade New York Public Relations PR@katespadeny.com
Tel: 866.999.5283 Fax: 866.752.7921
For Immediate Release Monday, June 2nd, 2014 New Cosmetic Line Launching for Fall/Winter 2014 Collection Kate Spade New York is excited to introduce a new cosmetics line launching in select Nordstrom stores. The cosmetics will be in stores Friday, August 1st with a large launch party. The collection includes basic everyday makeup with a few bright palettes to spark up the fall season. The launch is set to have trained Kate Spade makeup artist ready to do tutorials and explain the new formulas. Kate Spade New York started back in 1993, when Kate Brosnahan Spade, set out to design the perfect handbag. Women and fashion editors fell for the fresh, modern, utilitarian handbags, and the first shop opened in 1996. The company has grown quickly to become a recognizable all over the world. Today Kate Spade has grown into a global lifestyle brand, and aim to inspire colorful living through their handbags and clothing to jewelry, shoes, stationery, eyewear, baby, fragrance, tabletop, bedding, and now cosmetics. The company has never lost sight of their colorful and spirited approach. “We are very excited to move into the cosmetic world fully.” Said president and creative director Deborah Lloyd, “Before we just had a few different lipstick colors, but now our customers can experience a whole new look with the full line. We believe woman should be able to have fun with makeup, so I wanted to incorporate a sense of playfulness in the design.” The witty and playful designs and colors are very consistent throughout the new collection.
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