Homework answers / question archive / Running head: MARKETING CHANNELS 1 Marketing Channels Hannah Hoenshell Rasmussen 05-02-21 MARKETING CHANNELS 2 MARKETING CHANNELS In modern society, T-shirts are not just regarded as casual wear but rather articles of clothing that usually reflect a person's interest, personality, and identity

Running head: MARKETING CHANNELS 1 Marketing Channels Hannah Hoenshell Rasmussen 05-02-21 MARKETING CHANNELS 2 MARKETING CHANNELS In modern society, T-shirts are not just regarded as casual wear but rather articles of clothing that usually reflect a person's interest, personality, and identity

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Running head: MARKETING CHANNELS 1 Marketing Channels Hannah Hoenshell Rasmussen 05-02-21 MARKETING CHANNELS 2 MARKETING CHANNELS In modern society, T-shirts are not just regarded as casual wear but rather articles of clothing that usually reflect a person's interest, personality, and identity. In the apparel industry, Look Magnet T-shirt Company is focused on branding promotional t-shirts for companies and printing events and internal retreat t-shirts. The company's products range from graphic tee, body-hugging t-shirt, and plain oversized t-shirts. Look Magnet is focused on helping our clients create designs of their choice. As a result, the customers have the flexibility to choose the colors, fonts, and graphics depending on their style and taste. Look Magnet T-shirt Company's core principle regarding companies is to ensure that the firms achieve a more robust company culture. Through our custom-made t-shirts, a solid emotional bond with the organization among employees is instilled. As a result, this unites internal teams, thus enhancing commitment and motivation in attaining a company's goals. Look Magnet seeks to utilize both traditional and modern marketing strategies to reach the target market in its marketing strategy. The company acknowledges referrals as its most important aspect of traditional marketing. This medium will leverage the existing customers that range from close associates, family to friends to advocate for the business. We consider sales referrals advantageous to the company since it enables the company to obtain new outbound leads and potential customers (Todor, 2016). Customer referral aims to ensure that we reach a large customer pool and hit on the company's targeted leads. Measuring the return of investment (ROI) for customer referral will involve calculating the repurchase ratio to determine customer loyalty within the company. Besides, the company will determine ROI through upselling ratio. MARKETING CHANNELS 3 Nonetheless, the company will consider the use of direct mails to market the products. Through direct marketing, the company will create awareness through fliers, postcards, brochures, including other printed pieces. The medium is beneficial to the business due to its impressive targeting capabilities. Besides, the medium is beneficial because it enables the organization to reach clients offline while allowing them to connect with the company online through modern channels (Xu, Frankwick & Ramirez, 2016). The primary goal of this marketing medium is to encourage customers to purchase the company's product. We will obtain the company's ROI of this channel by dividing the net profit by the company's campaign investment. Besides the traditional marketing strategies, the company targets using modern marketing channels such as social media marketing and internet ads. The company will benefit from using social media platforms since it is free and a great way for the company to get the word out about the products. Some of the social media platforms our company intends to use Snapchat, Facebook, and Pinterest. Through these platforms, the company will grow its brand awareness. Besides, linking our organization's website with social media platforms will increase its traffic tremendously. Social media ROI will be measured by dividing all value-creating social media actions by investment (Li, Larimo & Leonidou, 2021). The last modern marketing channel that we intend to use to reach our target market is internet ads. The company seeks to display advertisements to the customers through Facebook Ads and Google AdWords, the two leading online marketing platforms. Internet ads are beneficial to our company because they allow us to display our offerings to highly targeted customers and obtain more metrics on our performance (Schwarzl & Grabowska, 2015). This marketing channel's goals include reaching a broader audience and driving traffic to our website. MARKETING CHANNELS We will obtain ROI by subtracting the overall cost from the total profit made from listings and ads and dividing by the overall costs. 4 MARKETING CHANNELS 5 References Li, F., Larimo, J., & Leonidou, L. C. (2021). Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda. Journal of the Academy of Marketing Science, 49(1), 51-70. Schwarzl, S., & Grabowska, M. (2015). Online marketing strategies: the future is here. Journal of International Studies, 8(2), 187-196. Todor, R. D. (2016). Blending traditional and digital marketing. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 9(1), 51. Xu, Z., Frankwick, G. L., & Ramirez, E. (2016). Effects of big data analytics and traditional marketing analytics on new product success: A knowledge fusion perspective. Journal of Business Research, 69(5), 1562-1566. SHIRT COMPANY 1 Look Magnet Shirt Company Hannah Hoenshell Rasmussen Principles of Marketing 04-11-21 2 Look Magnet Shirt Company Introduction Magnet Look is a medium-cost shirt company that aims to serve customers through retail and online platforms. The company's primary target is the youths since they are usually concerned with modern fashion, which appreciates culture and clothing in the clothing businesses. The company is advantageous through its unique differentiation mechanism regarding the online value propositions and custom designs. Unlike the competitors, Look Magnet online value propositions and add value to the product through eye-catching vibrant logos and colors. In this regard, the online value propositions aid in identifying the company's website and providing a unique customer experience (Shams, 2016). The customers are at will to visit the company's website and order the product that satisfies them. It is possible since the company has incorporated the product information inclusive of all designs and prices attached to them. Additionally, Magnet Look website enables potential customer through interactions to provide customized information orders according to their choices. In this regard, they get to have something that fuels their imagination. Thereby becoming a plus, and through this, the company is therefore at a competitive advantage over the competitors. Part 2: The 4ps To gain a competitive advantage in the industry, the Look Magnet brand will use fair pricing strategies and online advertisement strategies. According to Erdur (2016), digital marketing through internet channels will get used in online advertising campaigns to meet its ideal target demographic, the youth. Since most of these people use internet channels, Look Magnet's expanded advertising on these sites raises product visibility, giving the company a competitive advantage in the industry. The company will also incorporate reasonable pricing in 3 its marketing strategies. In this case, the expected end goal regards setting up prices that can attract customers. With many customers attracted, it will increase the supply, thereby making the company grow successfully and fulfilling the ongoing business concern. Also, Look Magnet intends to base its marketing strategies on promotion, location, price, and product mix. The company aims to offer various products, including v-shaped, roundnecked, and custom-designed shirts. As a result, Look Magnet's marketing strategy will present such a diverse range of product details, ensuring that they attract consumers with various preferences. In terms of pricing, Look Magnet will have a competitive pricing strategy of $ 30.00 per t-shirt with discounts provision for those who buy more than four items, while the company increases medium costs. Look Magnet's marketing plan would be based on a fair pricing model to target younger and middle-income consumers, who make up most customers in most environments. Look Magnet intends to invest in online advertising as a means of reaching out to its target market in terms of marketing (Swart, 2016). The company will have a marketing campaign that includes ads on social media sites, fashion magazines, and emails received from customers who have visited the website, according to the promotion mix Look Magnet will adopt. Regarding the place. Look Magnet will offer both online and retail services. Additionally, the company will also partner with large stores; thereby, the products will be primarily reached by the customers in areas that the company cannot run due to expansion hindering. 4 Part 3: SWOT STRENGTHS • Unique fashion designs • Customized designs • Online services and marketing • Favourable and affordable OPPORTUNITIES • Worldwide growth through the internet mode • Advancing in online advertisement price WEAKNESSES • The medium price strategy minimizes THREAT • the gained revenue • Customer may get influenced to seek other choices regarding lead time for Heighten completion from established brands • Limitation of marketing strategies and management strategies custom designs. Unique, trendy designs, online marketing, consumers' ability to create their own goods, and affordable pricing are some of the strengths posed in the Look Magnet SWOT study. The company's marketing strategy will capitalize on its strengths in order to cater the demands of its consumers while also recruiting new recruits. Regarding the lead time weakness, Look Magnet's marketing strategy would classify the most popular designs and mass-produce them to reduce customer wait times. Still, the company's lead time in assisting users in designing their goods will cause some of them to gravitate toward competitors' products, while medium pricing attributes reduce its profits. In terms of opportunities, the organization's marketing plan will take advantage of such factors to expand its market penetration. In this regard, given the rise in global 5 internet use, the organization should concentrate on internet marketing activities as a means of reaching a larger market (Bahrami et al., 2012). In terms of threats, the business's marketing plan should consider current risks in its industry and develop plausible strategies that reduce the likelihood of failures. For example, there is a risk that other well-known brands will copy this business strategy. Therefore, the firm's marketing policy should be discreet to avoid rivals reaping their strategy's benefits. 6 References Bahrami, M., Arabzad, S., & Ghorbani, M. (2012). Innovation In Market Management By Utilizing Business Intelligence: Introducing Proposed Framework. Procedia - Social and Behavioral Sciences41, 160-167. Erdur, ?. (2016). Changing Trends in Advertising and Online Strategies: A Systematic Review of Online Advertising, (8), 57-57. Shams, S. (2016). Stakeholder Relationship Management in Online Business and Competitive Value Propositions. International Journal of Online Marketing 6 (2), 1-17. Swart, B. (2016). Fair Pricing and Pricing Paradoxes. South African Journal of Economic and Management Sciences, 19 (2), 321-329.