Essay about Strategic Marketing Plan Pier 1 Imports

2381 Words Dec 4th, 2015 10 Pages
Strategic Marketing Plan

Executive Summary

Product Description/Objective
This candle holder is a bottle neck pillar candle holder offered by Pier 1 Imports. The candle accessory is decorated in abstract design in neutral colors. Pier 1 Imports searches out artisans throughout the world to help them find and develop and develop fashion trends designed specifically for their customers. Target Audience
The primary customers are those who enjoy decorating their home with a desire for distinct décor and good value. The target market for this product from Pier 1 Imports is women ages 25-34. These consumers are combining purchased goods, such as this pillar candle holder with their own home décor ideas to complete the look of
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Knowing that the competition will continue to grow, it is important for Pier 1 to continue to build their brand and expand it to the new up and coming generations.

Product Description The product I have chosen is a bottle neck pillar candle holder with abstract designs in black and brown tones. The primary customers are those who enjoy decorating their home with a desire for distinct décor and good value. The target market is women ages 25-34. The sales volume of this product continues to increase as people become more interested in DIY projects. Consumers are “combining purchased goods with their own ideas and creating a space that is unique to the consumer at a lower cost” (Bosari, 2012). The candle holder is part of a fragmented market where competition is not very stiff, but tends to be very vulnerable. The primary reason this candle holder is a part of a fragmented market is because of the level of personalized service that is required to market it. While the product could sell itself, it requires personalization in that the consumer is looking for the product to match the décor of the home. The consumer behavior for the candle holder could vary. It could be an impulse purchase if the buyer goes in to the store to purchase one product, however while in the store, notices the candle holder and thinks it will look nice in their home and purchases the candle holder on impulse. On the other hand, the

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