Calvin Clain IMC Plan Essay

Executive Summary Calvin Klein Inc. formed in 1968 is typically associated with high quality apparel and intimate wear at a premium price, boasting strong brand equity and an extensive and global loyal consumer base. In 2003, CK was purchased by Philliphs-Van Heusen Corp (PVH), which now controls its operations. Calvin Klein has over time diversified into various business avenues, exploring the fragrances and sunglasses markets, which have assisted in generating business profitability, and fostering brand awareness and exposure. However, through gap analysis exploratory research, we have identified the men’s premium swimwear market as a potential market segment to penetrate. The proposal consists of developing a line of exclusive or limited edition men’s CK swimwear, made from the latest lycra fabric technology fostering increased support and comfort for consumers. The purpose of the following report is to outline a strategic integrated marketing communications plan considering the following elements; competitor & situational analysis, identification of target audience, defining campaign objectives, formulation of creative and communications strategy and evaluation of the campaign. Typically associated with a minimalistic (black and white) and controversial style of advertisement, our campaign seeks to maintain this specific brand image, whilst building brand equity. The ultimate objectives of the campaign include; increasing sales and profitability, generating exposure and awareness with potential customers and re-enforcing brand image and further building brand equity. These objectives may be achieved through developing creative and innovative marketing strategies and campaign, attracting the new target segment by diversifying into the swimwear market. The launch of  the limited edition of swimwear is strategically timed to take place parallel with the beginning of summer 2013, thereby seeking to capture the large market demand for mens swimwear. Introduction Product Description The Limited Edition CK men’s swimwear range is to consist of several difference styles of swimwear trunks, made from the latest fabric and fiber technology therefore fostering increased comfort and support for consumers. The concept of a limited edition range, reinforces the exclusivity of the CK brand. In developing an exclusive range, consumer demand typically increases as it is considered as an special opportunity purchase. Calvin Klein have not yet diversified into the swimwear industry, thus our limited edition range can be considered a trial or market test to establishing a more permanent presence in the Australian swimwear industry. How our Product is different †¢Incorporates the latest fabric (nylon) technology for swimwear; to foster increased comfort and support for consumers. Competitor brands such as AussieBum are already using this latest technology, therefore in manufacturing with this fabric CK is keeping up with industry innovations and developments. †¢CK has not yet diversified into the swimwear market in Australia, venture will capture the market demand for quality premium swimwear †¢CK will employ the latest print designs and patterns with assistance from fashion industry experts that will assist in distinguishing our product from our competitors. †¢Prestige associated with purchasing the CK swimwear, in the fact it CK is predominantly a American brand therefore consumers may be more inclined to purchase based on this prestige and exclusivity factor Management Responsibility The creation and development of this product requires a subdivision or team to be established at CK Australia to monitor the establishment, development and execution of the manufacturing, delivery and marketing elements associated with the swimwear range. These individuals must be accustomed and  familiar with the CK brand, ensuring the core messages and themes remain constant throughout the marketing campaign and remain aligned with the CK brand image. Geographic Location & Length of the Campaign Our Summer Limited Edition campaign, based in Sydney, is targeted toward male consumers aged 18-30 who characteristically have a higher disposable income enabling them to purchase high quality premium swimwear. This campaign is based in Sydney due to the large population, climatic trends (hot summers) and the extensive demand for premium swimwear. The campaign is to run from the beginning of Spring 2013 , ensuring early exposure in that consumers know of the product before the summertime ‘rush’ for swimwear commences, and to run until the end of autumn; the end of summer 2014, therefore ensuring relevant mass exposure to the target audience. Situational Analysis Current Market Position Product Range & Distribution; Product, Price, Promotion and Place Calvin Klein currently has product offerings across its’ Calvin Klein Jeans, Swimwear, Underwear and CK brands. The hierarchy starts with the CK designer underwear, and then there is Calvin Klein Jeans, which for Calvin’s casual lifestyle range. In among that you have CK One, which is the most youthful part of the brand and then there’s CK Calvin Klein, which is slightly more formal for the edgy downtown girl and guy. On top of that is Calvin Klein Collection, which is at the apex of the pyramid. All of these use a premium pricing strategy, offering affordable luxury brand products with high quality and style. The distribution of Calvin Klein products reflects this exclusivity as depicted in Figure 1, with 982 Calvin Klein retail stores worldwide, consisting of 189 full price free-standing stores, 118 outlet free-standing stores, and 864 shop-in-shop/concession stores. Financial Performance It is crucial to review Calvin Klein’s financial performance and current position in the marketplace in order to position or embark on product extension lines and ensure business growth and prosperity. Figure 2 represents the results of last year’s financial performance, indicating the annual revenue to reach $1.1bn. Additionally, as indicated on Figure 3, Australian sales fall into the category of other at 2%, which is extremely low in contrast to the sales around the rest of the world. Therefore, in positioning the CK campaign in Australia, the CK brand is seeking to increase its presence in Australia and break into the domestic swim market. Figure 2 Figure 2 Company Analysis Company Structure According to a statement by Philliphs-Van Heusen Corp (PVH), Calvin Klein adopts a tiered strategy: â€Å"In order to more efficiently and effectively exploit the development opportunities for each brand, a tiered-brand strategy was established to provide a focused, consistent approach to global brand growth and development. Each of the Calvin Klein brands occupies a distinct marketing identity and position that preserves the brand’s prestige and image† Therefore, the internal structure of Calvin Klein is segmented or divided into subdivisions based on the different offerings, such as Calvin Klein Jeans and Calvin Klein fragrances. Within each subgroup are specialist individuals, with extensive industry experience, as well as other typical corporate roles, such as marketing and finance managers. It is ultimately due to the size and diversity of the CK brand that it is subdivided, however, across the various product avenues it maintains a prestige brand image. Top down management Calvin Klein is currently owned by Philliphs-Van Heusen Corp (PVH), which is comprised of Heritage Brands, Tommy Hilfiger and Calvin Klein. Currently PVH adopts the top down management approach that is the executives and board members elect the direction of the company and are responsible for making strategic decisions and strategies regarding the future of the business. Calvin Klein, currently based in North America, is headed by Paul T Murry, whom is ultimately responsible for the direction and strategic choices for the development and prosperity of CK. Competitive Analysis Calvin Klein’s competitive analysis involves assessing the strength and weaknesses of current and potential competitors; including considering their resource profile (financial & supplier connections or relationship) and capabilities. Typically Calvin Klein operates in the luxury apparel retail market, and therefore their traditional and predominant competitor base consists of the following brands; Ralph Lauren, Tommy Hilfiger, Hugo Boss and Donna Karen. However, in the proposed swimwear market we have identified relevant competitors to include; Speedo Renown for style and performance, the Speedo brand was established in Sydney in 1914 and has grown to be the leading swimwear brand in Australia. Essentially this will be the largest competitor of the new CK limited edition swimwear range, due to the already established loyal customer base and extensive and stable market stare in the domestic market with industry reports indicating a 17 per cent rise in Australian sales and a 44 per cent worldwide during 2010. Currently Speedo offers various ranges or collections including; Competition and Racing swimwear, Board short and Swim Trunks, Fashion and Lifeguard. AussieBum Founded in Sydney in 2001, AussieBum manufacturers swimwear and underwear that are renown for its designs and comfort. AussieBum remains an industry leader in terms of using the latest fabric technologies to foster increased comfort and support for their consumers. Despite been manufactured in Sydney, the predominant target market for the AussieBum swimwear is in  European nations (due to the trunks instead of board short style). However, as they are based in Sydney and offers over 150 product lines at a premium price, AussieBum can therefore be considered a close competitor of the CK limited edition range. Budgy Smugglers Launched in 2004, the Budgy Smuggler brand is becoming an increasingly popular and well known brand. The 100% Australian made brand, are becoming increasingly famous with the bright bold colourful swimwear and the multiple charity events consumers are wearing the smugglers at such as BabeWatch. As they are Australian made and popular amongst the surfer culture, Budgy smugglers can be classified as a serious competitor to the CK swimwear range. Perceptual Map External Environment Technological Factors It is crucial for organisations to remain abreast of the latest technologies in order to remain competitive in the current business environment. Therefore, it is essential to consider technological developments surrounding both the marketing and advertising worlds as well as the swimwear industry. Technological innovations and developments in fabric and fibre technology (fostering comfort and support) as well as Computer Aided Design (CAD) offering new innovative prints and patterns combined with the new more efficient manufacturing techniques, make the fashion and in particular swimwear industry highly competitive. Therefore it is crucial that CK conducts extensive research and development on their swimwear line in order to gain an advantage over their respective competitors. Additionally, CK must acknowledge the new forms of marketing to include internet advertising and advertising through social media as society is becoming increasingly technologically dependent. Economic Factors The stability, stage of the life cycle and fluctuations in the economy are  all factors that significantly influence and impact upon consumer spending. If the economy is experiencing a downturn or decline, consumers are less likely to spend money on non-essential items and less likely to pay more for quality garments or swimwear. Therefore, as our target audience is projected to include those that have a higher discretionary income, CK must be aware and have an appropriate contingency plan in place if the state of the economy declines leaving sales heavily affected. Legal & Political Factors CK must also consider the legislation relevant to their business operations such as Trade Practices Act 1974 and Consumer Protection Act 2010, additionally legal considerations may include patents (for fabric innovation ideas), OH & S of manufacturing workplace facilities and employment legislation (including relationships with trade unions). Opportunity Analysis Expansion of the CK brand Calvin Klein has diversified into various and varied industry avenues, however they have not yet effectively penetrated the Australian swimwear market. From fragrances to lingerie and home wears, the CK brand has enjoyed success in multiple industries, however, we have identified the swimwear market in the Australian region as a crucial opportunity and profitable venture. Therefore, in the expansion or diversification of the CK brand into the swimwear market, the CK brand would ultimately be not only building its brand equity but also expanding their customer base and simultaneously generating healthy profits. Shift in social trends Society is becoming more accepting and supportive of the budgie smuggler style swimwear brief. There is an increasing trend and significant increase in men wearing the swim trunks. A recent online poll (on business day) indicates the budgie smuggler style of swimwear is at 53% popularity, therefore this confirms there is a market demand for the ‘trunk’ style of swimwear. *http://www.businessday.com.au/executive-style/style/return-of-the-budgie-smuggler-20101020-16u1n.html Industry Condition & Competitors The predominant competitors of the CK swimwear range would include; Speedo, Aussiebum, Budgie Smugglers and Billabong. However these are the main competitors, therefore it can be established the market is not heavily saturated. In reference to Porters 5 forces model, the barriers to entry in the Australian Swimwear market are relatively low, due to the limited competitive landscape. Therefore, in considering the above factors in the CK opportunity analysis, and with additional consideration of the perceptual map, it can be determined there is a gap in the market that the CK limited edition range can penetrate. Objectives Objectives provide guidelines for the marketing team to work towards and foster a sense of purpose for the campaign. Our aim with the overall marketing program is to generate product awareness, promote our limited edition swimwear through effective means and increase our market share. Since this special edition line is not yet in the market our objective is to create relatively high market share within the Sydney region over the period of the campaign. We are also looking to increase consumption in the wider Sydney area by using a varied marketing mix. Furthermore we intend to use extensive print advertisements (billboard, magazine & catalogue) to increase awareness heading into the summer season. There are several main objectives in the CK campaign: Marketing Objectives Retain the CK brand image and further build brand equity through the introduction or extension of CK brand into the swimwear market Sales Objectives Obtain 35% market share in the swimwear industry (based in the Sydney region) by the conclusion of the campaign Generate net profit of excess than $2million Develop campaign within budgeted limitations Communication Objectives Create awareness of CK limited edition range through effective advertising mechanisms, seeking to persuade consumers to purchase the CK product. Target Audience Market Segmentation Geographic Segmentation The market can be segmented according to geographic characteristics or criteria, such as our campaign is based in NSW and predominantly focused in Sydney. The large population and climatic conditions (hot summers) of Sydney make it an appropriate and suitable geographic region to focus our campaign toward. Demographic Segmentation Division of the market based on characteristics such as gender, income and age; male 18-30 with a moderate to high income. These demographic features enable CK, to develop a suitable product meeting consumer demands and design an effective marketing campaign to reach the projected audience. Psychographic Segmentation The underpinning marketing strategy the CK campaign will adopt, is predominantly based on appealing to the target markets sense of insecurity and desire to ‘look good’ and ‘sexy’ through purchasing and wearing the CK briefs. Factors to consider in this segmentation include; lifestyle, personality characteristics, social class and values. Essentially, the typical CK consumer would enjoy a luxurious lifestyle in the middle to high social class range and additionally personality traits may include; fashion conscious as well as desire to be socially accepted. Target Market Primary Audience Our target audience consists of males aged 18-30 in the Sydney region, with typically a higher disposable income (to purchase the trunks at RRP $129.95). Through market segmentation, we have identified this segment of the market to be our projected audience, and from this we are able to develop a effective marketing campaign to reach and persuade consumers. Secondary Audience Our secondary target audience, is the respective partners and mothers (girlfriends & mothers) of the males age 18-30. Therefore, we have incorporated into our marketing strategy, print advertisements in women’s magazines. Women are the positioned target market to purchase the product as a gift or present for their partners. Positioning Ultimately, this refers to the process of establishing an image, identity or stigma in the minds of the consumers that they associate with the brand. The Calvin Klein brand has an existing brand identify in the minds of consumers, in that typically it is viewed as a ‘sexy’ or ‘sultry’ and an enticing brand. Therefore, for the extension into the swimwear industry we are ultimately seeking to maintain this positioning in the minds of the consumer. Communications Strategy Message The purpose of the campaign is to generate brand exposure and generate awareness and stimulate demand for the new range of limited edition swimwear. Ultimately, the campaign is maintaining the typical elements of CK marketing in its minimalistic, black and white and controversial style to align with the overall CK brand image. The objective of the campaign is to generate a sense of exclusivity and ‘want’ for the CK swimwear range, through positioning of the advertisements and promotional activities it is seeking to attract the young male target audience who have interest or concern with appearance and comfort of their swimwear. Typically, CK  advertisements are considered ‘provocative’ and feature attractive, muscular male models which appeal on a social level to the target audiences sense of esteem and confidence. Therefore, through using attractive and famous public figures, such as the Stenmark twins and celebrity endorsements, consumers will believe if they purchase the swimwear they will too look as ‘attractive’ as those that appear in the advertisement. Source Ultimately, Calvin Klein is the source or sender of the information to their respective intended receiver. In using a celebrity or model endorsement (Stenmark twins), it is crucial to ensure the consumer perspectives and associations of the source as positive and align with the brand image. The ultimate objective or goal of the source or sender is to encode the message in a succinct and effective manner so that the target audience or receiver is able to understand and comprehend the key message. Channel A communications channel refers to the medium through which the message is communicated to the target audience or the receiver. Typically, Calvin Klein campaigns adopt a ‘non personal’ channel of communication that is the message is carried to the receiver without interpersonal contact from the sender. An example of this would include the Calvin Klein billboards, which are advertised to a mass audience. Additionally, the CK campaign would incorporate personal channels of communication, which includes direct contact with the target audience. Personal channels, such as the proposed pop-up shows and demonstrations, assist in both brand exposure and the development of rapport with the public and the respective target audience. Therefore, through adopting both forms of communication channels (personal and non-personal) Calvin Klein seeks to maximize brand exposure and effectively communicate the intended message to the target audience. Receiver Essentially, the receiver refers to the audience or individuals exposed to the message. Typically, the intended receiver is the target audience; males aged 18-30 in the middle to high-end income segment and living in Sydney.  The role of the receiver is to decode the key messages, for example the CK swimwear makes you look and feel sexy and confident, in the communication material, and process them forming an informed opinion or thought. Feedback The response or reaction to the exposure to the message can indicate the effectiveness of the campaign or advertisement in reaching and communicating with the target audience. Therefore, it is essential to conduct a follow up study (focus group) or assessment to gather an understanding of the effectiveness of the advertisement and identify the areas development or improvement. Creative Strategy Essentially, the purpose of the proposed creative strategy is to obtain consumer attention and mass exposure and to encourage or provoke consumers to purchase the CK swimwear range. Inline with the simplistic style and themes (for example black and white) of previous campaigns, the proposed advertisement will too incorporate the typical elements found in CK promotions, thus ensuring a consistent brand image. Currently, CK has excellent consumer brand recognition thus in maintaining the typical CK marketing theme consumers are able to more easily identify the brand. Ultimately, the creative strategy is a crucial element of the IMC plan, as it outlines the predominant message and purpose of the advertisement and assists in determining the brand positioning; that is how consumers perceive the CK product. Advertising Problem or Issue The predominant problem or issue is how to effectively reach, connect and prompt or encourage the target audience to purchase the CK swimwear. Advertising and Communication Objectives †¢Generate greater brand awareness and brand equity; informing consumers of the new CK swimwear range (notifying the general population that the CK brand has diversified into men’s swimwear) whilst simultaneously gaining consumer attention (that of the public and target market) †¢Maintain brand image; achieved through utilizing the same CK theme of the attractive model, black and white photo on billboards across the Sydney region and print advertisements †¢Persuade target audience to purchase product; through specific marketing tactics, such as adopting designs to appeal to the consumers affective functions or conscious, the campaign seeks to prompt or encourage consumers to purchase the swimwear. Target Audience As previously outlined, the target audience is the select group of customers to aim the marketing efforts toward, in respect to the CK campaign our target market is males 18-30 living in Sydney. The simplicity of the campaign is designed based on characteristics of the target market, which is the tendency for males of the 18-30-age bracket to not read or absorb large amounts of information in advertisements. Therefore, as males tend to simply view an image, through the affective advertising approach, the campaign may prompt them to purchase the product as it appeals to social based feelings of acceptance and esteem. Additionally, in utilizing attractive models and simplistic campaigns this also attracts the target markets respective partners, females. Females are motivated by the image of an attractive man in trunks, and may purchase the product in hope their man can look like the model. Major Selling Idea or Key Benefits In adopting the affective appeals approach, the campaign seeks to indirectly influence or play on the consumers sense of security, acceptance and esteem (socially based appeals) prompting them to purchase the swimwear in order to ‘feel and look good’. It is crucial to consider ‘the promise’ or benefit the advertisement is going to give the consumer, for example the CK suggests men who buy the swimwear range to look attractive, sexy and sultry which in-turn may attract females. Therefore it is inn appealing to the target audience’s sense of security and acceptance, the campaign encourages males to purchase the swimwear. Creative Strategy Statement (Theme appeal and execution techniques) †¢Theme appeal; It is important the campaigns theme remains consistent with past  marketing efforts, as it fosters brand consistency and brand recognition. Therefore, using black and white billboard advertisements with attractive males models is an essential part of the campaign to launch the new swimwear range. Supporting Information and Requirements †¢Ad Layout; in relation to the composition of the billboard and magazine layouts, it is crucial to have a visual element and the CK logo present and easily identifiable. Essentially, the logo and brand name must be present and easily visible enabling consumers quick and easy brand recognition. Additionally, the image must for fill the brief of being sultry and sexy thus appealing to the target audiences social based feelings. Sample billboard and magazine layouts may be found in the media planning section below. Budget Proposed Budgeting and Forecasting Media Planning Essentially, the purpose of the proposed creative strategy is to obtain consumer attention and mass exposure and to encourage or provoke consumers to purchase the CK swimwear. It is crucial to consider ‘when’ the promotional activities are run to ensure the effectiveness of the campaign. The CK campaign will begin with a ‘bang’ and launch with all advertising mediums in place to generate initial mass exposure and attention. Gradually as the campaign proceeds, CK will alternate which magazines it advertises in to achieve greatest market coverage. Additionally, the billboards will run through the entirety of the campaign, as despite their cost, they act as an effective reminder for consumers and are thus a vital aspect of our strategy. Our media campaign will involve several different types of advertising within the media mix, with media coverage focused on ensuring that Sydney males aged 18-30 receive the most media emphasis. Develop media Mix †¢Catalogue †¢Magazine print advertisement †¢Billboard †¢Point of purchase displays *refer to media strategy for in-depth review Geographic Location Our advertising activities will extend from the throughout the Sydney region. However our main advertisements will be based around the beaches close to Sydney’s CBD. The Eastern Suburbs (bondi), Northern Suburbs and Northern beaches will be our primary locations for advertisements. Scheduling We are using the flighting method of scheduling here due to the specificity of our product line. We are only looking to advertise when our target market is interested in swimming (Summer & Spring) and therefore flighting is the best method in order to reduce wastage. Month in Campaign Promotional Activities Spring; September’13 Initial Launch, all advertising mediums in place to generate mass attention and exposure, generate a buzz around the producta.Set up point of purchase displays at retail stores âž ¢Separate CK section in retail stores featuring large posters of campaign and catalogues for consumers to take b.Billboard launch âž ¢Sydney CBD location âž ¢Bondi Location c.Catalogue âž ¢distribution in retail outlets such as DJ & Myer âž ¢direct marketing, distribution of catalogues to existing customers on the CK database d.Magazine Advertisement âž ¢GQ monthly edition âž ¢Mens Health âž ¢Ralph âž ¢Gear âž ¢Cosmopolitan âž ¢Grazia âž ¢SHOP Spring; October ‘13 Settling into campaign, gentle reminders to consumers achieved through monthly magazine advertisements and consistency of billboard advertisements a.Billboard âž ¢Sydney CBD location âž ¢Bondi Location b.Catalogue âž ¢distribution in retail outlets such as DJ & Myer c.Magazine Advertisement âž ¢GQ monthly edition âž ¢Ralph âž ¢Cosmopolitan âž ¢SHOP Spring; November ‘13 Maturity of campaign, gentle reminders to consumers achieved through monthly magazine advertisements and consistency of billboard advertisements a.Billboard âž ¢Sydney CBD location âž ¢Bondi Location b.Catalogue âž ¢distribution in retail outlets such as DJ & Myer c.Magazine Advertisement âž ¢Mens Health âž ¢Gear âž ¢Grazia Summer; December ‘13 Beginning of Summer, therefore additional advertisements in magazines and more extensive catalogue distribution to remind consumers to purchase the product. Also leading upto Christmas, position as present idea. a.Billboard âž ¢Sydney CBD location âž ¢Bondi Location d.Catalogue âž ¢distribution in retail outlets such as DJ & Myer âž ¢direct marketing, distribution of catalogues to existing customers on the CK database e.Magazine Advertisement âž ¢GQ monthly edition âž ¢Mens Health âž ¢Ralph âž ¢Cosmopolitan âž ¢SHOP âž ¢Grazia Summer; January ‘14 Continuation of heavy promotional activities, as this month falls in peak of summer. a.Billboard âž ¢Sydney CBD location âž ¢Bondi Location b.Catalogue âž ¢distribution in retail outlets such as DJ & Myer c.Magazine Advertisement âž ¢GQ monthly edition âž ¢Mens Health âž ¢Ralph âž ¢Cosmopolitan âž ¢SHOP âž ¢Grazia Summer; February ‘14 Winding down of the campaign, reduction in advertisements. Cessation of catalogue distribution and limited magazine prints a.Billboard âž ¢Sydney CBD location âž ¢Bondi Location b.Magazine Advertisement âž ¢GQ monthly edition âž ¢Mens Health âž ¢Ralph Autumn; March ‘14 Concluding end of the campaign, involves winding down promotional activities such as stopping the magazine print advertisements and catalogue distribution a.Billboard âž ¢Sydney CBD location âž ¢Bondi Location Reach and Frequency This is the most important aspect of the media planning. Our target market is around 30% of Sydney’s population. Therefore, in order to increase awareness and raise sales levels we are only looking to reach 80% of our target market with our advertising message. On average we would like this 80% to view this message at least 3 times. By exposing large numbers of the target market we can ensure first year sales are high and we can maximise our profit. By placing our ads in highly populated areas we can certainly ensure that our target market is being reached effectively. †¢Reach; Marketing mix ensures exposure to the general public and the target audience, essentially they are exposed to the CK campaign through various mediums. †¢Frequency: Maintained billboard advertisements ensure constant exposure to both the public and the target audience. The frequency of the magazine advertisements also contributes to acting as a reminder mechanism for consumers to begin the decision making process, that is reminding them of the CK swimwear range and prompting them to purchase Creative aspects and mood Our marketing mix has been chosen specifically to ensure that the vehicles that portray our advertising message are creative whilst almost ensuring to enhance the mood of the target market. By using billboards and magazine advertising we can ensure that our message is evoked positively to the consumer. These media vehicles allow us to ensure that we gain interest in our product and increase the chances of the target market purchasing our product. Flexibility In order to achieve our company goals, there is a need to be flexible. Certain aspects of our media plan are more flexible then others. The most flexible promotion activity in the campaign, would be the distribution of the CK catalogues; this is due to the initial testing of the receptivity and consumer response. For example, if the catalogues receive a positive response, that is numerous consumers are taking and viewing them, essentially CK campaign manager should organise for more to be printed and distributed (template is already existing). Budget considerations Our budget magazine advertising is around $450,000 per year so to ensure we effectively use this media vehicle, we would place the advertisements in magazine that are read by our target market. In particular men’s health, which is read widely by 18-30 year old males who enjoy looking and feeling healthy. The CPM of Men’s Health is $145, however this doesn’t represent our target market effectively so we are only using magazine advertisements from September to February in order to avoid wastage. The billboard advertising creates difficulties in effectively reaching our target market, however  since our budget is around $200,000 we can afford to place these in three distinct and separate places. The Sydney CBD and Bondi are heavily populated by our target market, whether they live there or work there, by placing our billboards in these specific places we effectively use our budget and achieve our marketing objectives. Sample Billboard and Magazine Design The layout of both the image is designed to be the two Stenmark brothers posing in the CK swimwear (positioned toward the right of the advertisement; billboard and magazine), printed in black and white, with minimalistic writing positioned on the left ensuring the viewers eye reads the message then views the associated image; Sample billboard/magazine ad Media Strategy Media strategy takes into consideration the various tools of the IMC mix in recognition of achieving an organisations media objectives (Belch et al, 2012). Through the use of such disciplines as advertising, direct marketing, internet, interactive media, sales promotions, public relations, publicity and personal selling Calvin Klein will strive towards achieving their objectives with their new product line. Advertising; Print Media Magazines Calvin Klein summer 2013-14 campaign will include double paged spreads in various mens magazines (positioned in the opening pages of the magazines to capture the attention of the readers), including; Mens Health, Ralph, Gear and GQ. The advertisement, despite the high cost, is effective in reaching the target audience and prompting them to purchase the swimwear. The layout of the magazine advertisement will mirror the billboard campaign, the minimalistic black and white image featuring the Stenmark brothers. The advantages of a double page spread include the enhanced consumer receptivity and engagement (as the prominence of the ad ensures consumer attention) and secondly the prestige and permanence associated with print media. The second approach includes print advertisements in women’s magazines such as; Cosmopolitan, Grazia and SHOP. In having a print advertisement in womens magazines, the intention is to capture and persuade the female audience to purchase the swimwear for their boyfriends or partners. The main image of the print advertisement will change monthly to avoid the ‘wear out affect’, that is it will be slightly changed (the swimwear and the pose). Billboards Various billboards featuring the CK limited edition range will be featured around the Sydney region (CBD and bondi). The billboards will mirror the magazine print advertisements (fostering consistency), featuring the Stenmark brothers wearing the limited edition swimwear range. The advantages of using billboards include; maximum exposure to both the public and the target audience (in hope of walk by awareness). Direct Marketing Catalogue The limited edition range will develop a catalogue, directly sent to consumers in the CK database, informing them of the new product line. This immediately reaches out to the current brand loyal consumers, encouraging them to purchase the new range. Additionally, the catalogue assists in the exposure of the line to potential customers, as they are able to view images of the entire range. Internet and Interactive media Website Calvin Klein has an established website for their wide range of products, enabling consumers to view the companies history and view the latest collections. This website allows consumers to enquire into sizes, recommended prices and ‘in-season’ products which when the swimwear line of Calvin Klein is launched, it will feature on the home page to increase awareness. Paid Search Calvin Klein could strategically pay major search engines such as ‘Google’ to  promote Calvin Klein in the top sites promoted when such key words as ‘swimwear’ and ‘beachwear’ are searched. This way consumers are more likely to be directed towards exploring Calvin Klein swimwear range in contrast to other search results leading consumers towards competitors. Social Media; Instagram & Facebook CK aims to develop a stronger presence online and in the social media sector, as the target market characteristically uses these mediums often thus it remains an effective mechanism for reaching our intended audience. Public Relations Publicity A media release by Calvin Klein will be issued in a strive for positive publicity and brand exposure with the main message of the article highlighting the fact the CK brand has extended their product line to include ‘swimwear’. The purpose of the media release is to inform both the public and industry experts and fashionistas of the direction of the CK brand. Sales Promotion Point of purchase displays Point of purchase displays will be offered to major retailers of CK apparel such as Myer and David Jones. The display will include the products and the CK swimwear promotional video and catalogue for consumers to take. This will help to attract customers into the store and increase their sales, this will help to encourage distributors and retailers to carry and push our product. Distributors that promote our POPD’s will be entitled to a trade allowance. Celebrity Endorsement The Stenmark brothers (as pictured), are well known industry wide and in the Sydney region (from Riverview School) and are therefore appropriate figures to use as our campaign endorsements. The prestige and ‘sexy’ look associated with the brothers fosters the image and intention of the overall campaign. Personal Selling Recommending a way to satisfy the customer’s needs and wants It is our aim to continuously stay up to date with customers’ needs and wants and to always satisfy these. CK’s research and development team is determined to always be up to date with latest fashion trends and fads to help to always satisfy customers needs and wants. The limited edition range, includes the latest in fabric innovation, that fosters increased comfort for consumers. Closing the sale Major retail chains will be provided the opportunity to sell the new CK swimwear range (such a David Jones and Myers) . The employees of these retail outlets will be provided educational material with special selling points to help them promote the product and close the sale. Incentives for staff will be provided with free products and discounts for exceptional personal selling efforts. Follow ups Retail assistants will be provided the opportunity to provide feedback to CK on the customers likes, dislikes and opinions on the product range as well as their own findings. This will help the ensure that the customer’s needs and wants are always maintained to a high standard. Campaign Evaluation In assessing the success and effectiveness of the campaign there are various factors to take into consideration including; sales figures, marketing goals, advertisement content, media mix and the creation process. Sales Figures Comparison of actual and projected sales results, is an indicator of the success of the campaign. This involves assessing the percentage of growth, and whether this met or didn’t meet the objectives and expectations. Additionally, it is crucial to consider the context of the period of selling, for example the strength of the economy or stage it is at in can have implications or heavily influence the sales results of the CK range. According to our projected budget our net profit aims to reach $2,582,390.00 which would generate a healthy return for CK. Marketing Goals This involves assessing whether the marketing goals and objectives were met. For example, if the marketing objectives were met in terms of the desired market share. Additionally consider if the advertisements were reaching the intended market. Advertisement Content Consider was the underlying message of the campaign communicated to the market, were they able to easily understand and absorb the message. Additionally, consider did the billboards and magazine advertisements for fil the purpose of reaching out to the customers and informing them of the new limited edition range? And also how was the message received by the target market? Did it provoke a positive or negative response and why? In order to gather this data, CK can conduct interviews and surveys from consumers to gain understanding of the varied responses and identify room for improvement for future campaigns. Media Mix Consider the different mediums used in the promotional campaign, billboard, magazine and shows, and which medium seemed to be the most successful and why. Crucial to compare sales figures across the different mediums (magazines and billboards) and identify net and gross profits to identify areas of strengths and weaknesses. Creating Process Consideration of the time frame of the campaign and whether the required tasks were completed on time to a professional standard, additionally if the campaign stayed within the budget. In overall evaluation of the campaign, with consideration of the elements outlined above, the campaign is projected to run successfully and generate a significant profit for CK. Conclusion In summary, this report has discussed the integrated marketing communications plan for the introduction of the new limited edition Calvin Klein swimwear  range. It has outlined the marketing strategies and promotional activities to be implemented to ensure a successful campaign, in turn ensuring organizational objectives are achieved. Appendices Campaign Evaluation Template Unknown, viewed 24th September 2012, http://www.biztree.com/Templates/Marketing-Campaign-Evaluation.html Unknown, Calvin Klein, viewed 1st October 2012, J.McLaughlin, March 31, 2010, Calvin Klein: A Brand History, viewed 24th September < http://www.time2.co.uk/blog/brand-history-calvin-klein > Additional References A.Brannon, B.Chirichella, C.Schaffer & J.Wittmer, 16th November 2012, Calvin Klein, viewed 24th September 2012 A. Kesper 2011, Australia, a nation transformed, viewed 24th September 2012 Belch, George and Belch, Michael 2012, Advertising and Promotion: An Integrated Marketing Communications Perspective, 9th Edition, viewed 24th September 2012 D. Waller 2012, Developing your intergrated marketing communication plan, 1st Edition, viewed 24th September 2012. J.McLaughlin, March 31, 2010, Calvin Klein: A Brand History, viewed 24th September < http://www.time2.co.uk/blog/brand-history-calvin-klein > Unknown, Advertising and Marketing Communications, viewed 24th September 2012 Unknown, International Directory of Company Histories, Vol. 55. St. James Press, 2003, Calvin Klein, Inc. History, viewed 25th September< http://www.fundinguniverse.com/company-histories/calvin-klein-inc-history/ > Unknown, PVH, Our Company: Leadership, viewed 29th September 2012, N.Smith 2012, Gentlemen’s Quarterly 2012 Media Kit, viewed 29th September 2012,

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Mary Shelley- Frankenstein Essay Example | Topics and Well Written Essays - 750 words

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