Essay about Reiss Three Year Marketing Plan
Created in 1979 by David Reiss, Reiss is has developed into a powerful brand offering stylish clothes at affordable prices. 2006 proved to be a successful year for the organization, where it achieved £6.8 million in operating profit and sales of £44.5 million. Currently, it has 39 stores worldwide and is expanding rapidly. The following 3 year strategic marketing plan will demonstrate the steps Reiss need to take in order to become a dominant force in the UK and a strong international brand.
Keys to success:
• E-business development
• International expansion
• Domestic market growth
• Product development
• Brand awareness
• Organization flexibility
2. SITUATION ANALYSIS
2. 1 MACRO …show more content…
2.5 INTERNAL ANALYSIS
• Overview of Reiss
• Reiss has a strong presence in the UK market with central high street locations.
• High brand awareness
• Strong leadership
• Effective PR
• Good PR and designers/architects.
• Small company compared to main retail clothing specialists, for example, Topshop which is owned by Arcadia.
• Smaller capabilities and economies of scale.
• Limited international experience.
• Minimal market share
• Mckinsey 7-S framework
o Shared Values
• Reiss commits to providing stylish clothing at an affordable price.
• Company creates a positive and attractive retail atmosphere.
• D.A. Reiss has a controlling interest in Reiss Limited which owns 100% of the share capital of Reiss Limited. Reiss can make quick decisions without bureaucracy.
• Poor coordination between departments
• Although, there is a new merchandising department.
• Needs robust system for market research, for example, implementing footfall counters.
• Not a transactional website. Also, users cannot order clothing from the Reiss Website.
• Resultantly, there is no logistics involved.
• Organization culture is now heading towards young, dynamic culture. David Reiss is…