Strategic Marketing Proposal
Strategic Marketing Proposal MKTG 5115 spring 2012
Target the children market in accessories
FOSSIL at a glance: - Global design, Marketing, and Distribution Company - Sells watches, fashion accessories, apparel, and footwear - Brand name recognized for individuality, consistency, connection with its customers - Broad customer base and price range ($7-$20,000)
3/14/2012 Fossil Inc Varunkumar Suresh Prepared for Professor Mary Caravella, MKTG 5115
Strategic Marketing Proposal UConn MKTG 5115 spring 2012 School of Business
EXECUTIVE SUMMARY
“For an avid or a seasoned shopper, Fossil Inc provides the best source of worthy, stylish and fashion accessories – both in stores and online because of our innovative designs, reliability, high quality and varied inventory base.” At Fossils, we have done a great job over the years building the company to become a leading fashion watches, leather goods, sunglasses merchandise for retail sale on an international basis and have several superstores across the nation. Even though our company has shown consistent growth in all of our customer segments, given the current market environment and the increasing popularity of new fashion trends among the kids and teens, we see a tremendous opportunity to grab the children segment (age: 617) to increase our target market and new customers. We feel that the company is currently overlooking this huge portion of the consumer market: Children’s watches & fashion accessories. This proposal calls for increased advertising focused on children’s (age: 6-17) fashion accessories like watches, sun glasses, etc. Build upon existing relationships with existing show rooms and super stores. Work with super stores around the country to create a win-win scenario. This will bring in a greater market share and therefore Fossil Inc, should see an additional $21.36 million in customer equity and does not require significant resource investments by the company.
MARKET ENVIRONMENT
Target the children market in accessories
FOSSIL at a glance: - Global design, Marketing, and Distribution Company - Sells watches, fashion accessories, apparel, and footwear - Brand name recognized for individuality, consistency, connection with its customers - Broad customer base and price range ($7-$20,000)
3/14/2012 Fossil Inc Varunkumar Suresh Prepared for Professor Mary Caravella, MKTG 5115
Strategic Marketing Proposal UConn MKTG 5115 spring 2012 School of Business
EXECUTIVE SUMMARY
“For an avid or a seasoned shopper, Fossil Inc provides the best source of worthy, stylish and fashion accessories – both in stores and online because of our innovative designs, reliability, high quality and varied inventory base.” At Fossils, we have done a great job over the years building the company to become a leading fashion watches, leather goods, sunglasses merchandise for retail sale on an international basis and have several superstores across the nation. Even though our company has shown consistent growth in all of our customer segments, given the current market environment and the increasing popularity of new fashion trends among the kids and teens, we see a tremendous opportunity to grab the children segment (age: 617) to increase our target market and new customers. We feel that the company is currently overlooking this huge portion of the consumer market: Children’s watches & fashion accessories. This proposal calls for increased advertising focused on children’s (age: 6-17) fashion accessories like watches, sun glasses, etc. Build upon existing relationships with existing show rooms and super stores. Work with super stores around the country to create a win-win scenario. This will bring in a greater market share and therefore Fossil Inc, should see an additional $21.36 million in customer equity and does not require significant resource investments by the company.
MARKET ENVIRONMENT
References: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. http://www.fossil.com http://www.sec.gov/Archives/edgar/data/883569/000119312511053553/d10k.htm http://blog.fossil.com/ http://www.childstats.gov/americaschildren/tables.asp http://www.wikinvest.com/stock/Fossil_(FOSL) http://search.proquest.com.ezproxy.lib.uconn.edu/docview/230575262?accountid=14518 http://classguides.lib.uconn.edu/marketing http://www.world-newspapers.com/children.html http://hoovers.com https://lmsdev.uconn.edu/bbcswebdav/pid-9245-dt-content-rid-55031_1/courses/1123-UCONNMKTG-5115-SECR10-31200/studentresources_midterm/examples/midterm_examples.html 15 Hoovers.com