Marketing Plan

Tolu Sanni: Tiffany Williams: Jill Smith


1.0 Summary

The following is an integrated marketing communications plan designed for Peter Field custom

ties. This plan will include a promotion opportunity analysis, advertising plan, database

programs and promotions. Additionally, a media plan and methods of evaluating the success of

this plan are described.

Chicago-based Peter Field is a brand of custom designed and constructed neckties made in

America. The products are sold online and through their office in downtown Chicago on Wells

St. Peter Field also specializes in custom made bow ties, pocket squares, custom alterations,

and wedding party alterations.

Peter Field provides high quality custom silk, cotton, wool, and linen ties. The competitive

advantages of Peter Field come from the fact that it is 100% handmade in the USA. This fact,

coupled with its other characteristics makes it very attractive to consumers that desire custom

fit apparel.

Our main objectives for this plan are to build a strong brand image, to develop brand awareness

and to enhance the brands image in order to be able to increase market share, sales volume

and to build customer traffic.

As a local brand, Peter Field is looking to gain a strong foothold with new and existing

customers by targeting men 25-45 years old, specifically in the Chicago-land area. Through this

plan, Peter Field will actively move forward to define a thriving market within which the brand

can prosper. With extensive primary and secondary research, Peter Field will accurately define

and target challenges that they face. With this information, new objectives will be proposed for

the Peter Field brand that will define and reflect the market trends, which will in turn resonate

with the target audience. Peter Field will reach the target audience through various

promotional and public relations strategies and tactics.

With this campaign, Peter Field hopes to educate consumers on the benefits of Peter Field

custom accessories and create a need for their products.


1.2 Company Description

Entrepreneur Nicholas P. Monterotti founded Peter Field in 2010. After working for several

years in the retail clothing industry, Monterotti bought a sewing machine and taught himself

how to make a tie. Monterotti decided to develop and market a line of ties that are unique and

custom designed to specifically fit each customer.

Peter Field products are made of high quality materials with 100% of production in the USA.

Every single order begins with a professional fitting. Peter Field’s in dept process of body

measurements ensures a precise, tailored fit to the shape of your body. Peter Field will guide

you though the process of selecting a material that best fits your needs.

Peter Field can design the perfect tie for any occasion, from everyday work wear to black tie

affairs. Then, in approximately in 1-2 weeks, your custom tie will be ready for pick up at their

Chicago office. If you are not completely satisfied, Peter Field will make all necessary

adjustments free of charge.

Peter Field ties are currently available for purchase in store or online. The high quality, trendy

designs, and unique message of the ties have gained Peter Field a following among customers

between the ages of 25 and 45. Sales have slightly increased in the last few months alone, and

Peter Field is currently working to expand its product line.


2.1 Market Analysis

Ties are considered as items of fashion. It is perceived that a tie can improve one’s personality

and fashion sense. In fact, the right necktie can provide the visual accent that completes a new

outfit or makes over an old one. Ties are classified into two types, which are bow ties and

neckties. Ties are made from various types of fabrics and most popular fabrics that are used for

the manufacture of ties are cotton, silk, and wool. Manufacturing of ties is very easy and

anyone knowing tailoring can get into this billion-dollar fashion accessory industry. Even with

the economic downturn, consumers are still satisfying their need to shop by picking up that

cool new pocket square or necktie.

According to Dun & Bradstreet’s 2009 report, the men’s and boys’ neckwear industry’s 166

establishments posted annual sales of about $88.4 million and employed 2,270. Companies in

this industry tend to be small, with 67 percent employing fewer than 20 workers. Apparel sales

are driven by economic conditions, demographic trends, and pricing. Fashion, while important,

also plays a role in overall market demand. The growth of the twentieth-century neckwear

relied heavily on consumer trends. In order to survive as an industry leader in the necktie

market, a company had to have the ability to stay on top of fashion trends and designs.

A managerial and professional stratum emerged as the economic situation in the United States

changed. The shirt and tie style of dress became mandatory for white-collar workers for much

of the twentieth century, which also provided a sizable market for the neckwear industry. “The

industry boomed in the 1900s, peaking at $1.3 billion in 1996.” Tie fashion took a turn in the

late 1990’s, they went from conservative to more brightly colored and bolder, abstract patters.

In the late 1990s, “the industry shipped $440 million worth of woven silk ties, $57 million worth

of woven polyester ties, $10 million worth of woven ties made from other fabrics, and $10

million worth of other neckwear.” As time progressed, the growing acceptability of casual attire

in the workplace caused a decrease in total industry sales. “Total industry shipments declined

from $607 million in 1998 to $457 million in 200 to nearly $342 million in 2002. Sales also fell to

$800 million in 2002 and dropped further to 242.4 million in 2006. Currently due to the tough

economic conditions in the late 2000s, the neckwear industry is facing some challenges. Skinny

ties and bowties are making a comeback, as well as the use of bold colors and patterns and new

textures. Tie makers are also increasing their prices significantly.


Market Trends:

1. Custom wear and altered fits are a growing trend in the fashion industry. Retailers and

customers alike advertise their products as “custom fit” and “tailor made.” The increased

demand for more “to fit” clothing and the increased demands of the retail clothing market.

2. Current fashion trend? Who cares? Peter Field can custom make a tie or pocket square to fit

your personal idea of a current trend you would like to wear, or you can choose from Peter

Field’s very own uniquely designed line. You can also alter your dress shirts to fit any current

fashion trend. (customer personalization) – CRM (customer relationship management)

3. Menswear fabrics, and tweeds plus academically inspired patterns are in style regarding

men’s fashion. This is relevant considering the fabrics and patterns used by Peter Field to design

custom ties and pocket squares.

4. The US men’s neckwear manufacturing industry recorded 2010 sales of almost $204 million,

according to research from supplierrelations.com. Gross profit for 2010 was estimated at close

to 26%. The US imported men’s neckwear products from almost 55 different countries in 2010,

with an overall value of almost $223 million. The US exported men’s neckwear products to just

over 45 different countries, with an overall value of more than $13.5 million. Total US domestic

demand in 2010 therefore came to just over $413 million. The most common products in this

category are neckties, along with mufflers and scarves.

5. Regional and International markets: Example: China is forecast to record the fastest market

growth in the menswear industry among the five leading developing nations of South Africa,

Mexico, India, China and Brazil, (reported by MarketLine - consumer report research). China’s

menswear industry is expected to generate sales of close to $78,000 million in 2014.


Table 1. Customer Segmentation of the US Tie Market

Segment Segment

Characteristics

Percent US Tie Market

Elite Executives Brand Recognition,

Quality Conscious,

Price insensitive

11%

White Collar

Businessmen

Conservative fashions,

Moderate to expensive

price range

45%

Trendies Impulse buyers, Value

style over brand name,

Moderate prices

27%

School Ties Younger buyers (age 15

– 24), Less expensive

prices, Influenced by

family and peers

7%

Eccentrics Retro fashions,

Outlandish designs,

Price insensitive

10%


2.2 Macroenvironment

P. Political Factors: There are no immediate threats to Peter Field in regard to tax policy,

employment laws. No information is available concerning Peter Field employees. There is a

seamstress, but not sure if she is a contractor. Peter Field environmental regulations would

concern the use of anything breaking regulations in the tie, bow, or alteration process, or the

toxicity of the fabric used to make materials. From research there is no environmental

regulation threat. Trade restrictions would be a concern regarding the trading of Peter Field

product. There is no threat here. Tariffs would concern the importation and exportation of

materials used in the Peter Field product and service capacity. Little information is available

concerning the source of Peter Field fabric. I suspect it is imported from another country. The

political stability would regard the political message of the company.

E. Economic Factors: There is a positive chance for economic growth for Peter Field. Retail and

Service markets will influence consumer spending and clothing and clothing related services

(see 5 industry trends). The positive for Peter Field is that they have a niche in their market, in

which they offer customer shirt alterations aimed at a local market. Peter Field is not affected

by interest rates, unless they pertain to loans owed by the company. Financial records are

unavailable. Exchange rates and inflation rates only effect Peter Field in regard to revenue. If

inflation rises, Peter Field would have to raise the prices of their goods and services. Exchanges

rates would affect the value of the dollar, which would also force Peter Field to consider its

pricing strategy. As the economic environment improves slowly, the global men’s clothing

industry will begin to pick up. However, this will likely be a slow process, and companies will

therefore be obliged to look for solutions such as consolidation to survive. Companies will be

obliged to step-up marketing efforts to foster and maintain consumer loyalty. Product

differentiation will also remain a key element moving forward. Inflation will push prices higher,

which may well have shoppers straying from their favorite brands to look for discount

alternatives.


S. Social Factors: Peter Field would be most affected by this factor. Are the materials used by

Peter Field safe for the environment? Does the company promote the usage of recycled goods,

or organic material in the process of creating its goods, or delivering services? This is the health

consciousness element of Peter Field. Population growth rate would increase potential

customers in the Peter Field demographic. The demographic: Mid 20’s to late 30’s tech savvy,

critical of yelp feedback, men who care about their look, and resonate with “look good feel

good,” clothing fits. The current demographic should be widened to consider the increase in

population. The current demographic would also by widened by age to accommodate age

distribution. Retailers and companies on the same market have a widened age distribution, i.e,

men ages 20-55 are included in their demographic. The client is non-applicable in the career

attitudes factor. There is no current emphasis or mention of safety regulation with Peter Field

in regard to toxicity levels or hazardous materials used in their product or services.

T. Technology Factors: There are questions to answer about the research and development

already done on behalf of Peter Field. Will Peter Field be able to allocate funding to Research

and Development activity? Is there any research already established by Peter Field to support

its current market position? Peter Field is at a disadvantage in regard to R&D because it doesn’t

have the available revenue to support an in depth R&D campaign vs. its outside competition.

Automation would involve Peter Field using innovation technology, or re-establishing a process

of alteration and customization of ties and pocket squares. Currently, automation is not a factor

for Peter Field, because do not have a large scale production line, nor does it use a process of

equipment and systems that rely on efficiency and time to mass produce its product. Currently,

Peter Field does not have the need for a technological overhaul in its production process. There

are no current technology incentives for Peter Field. The rate of technological change would

affect how Peter Field makes its product at volume. Intellectual property issues could affect

Peter Field depending on copyright laws surrounding pattern design for ties and pocket

squares.


2.3 Target Market Analysis

Primary Target Market:

For this campaign, two different target markets will be identified. The primary target market is

men ages 25-45 years old. These men live in the Chicago-land area, have a college degree or

higher, household income average $30,000-$100,000+, and single/engaged. These men are

image conscious, fit conscious, creative, and frequently purchase formal wear for work or

other. They are willing to spend money in order to satisfy their wants with a unique and stylish

look.

Name: Justin Sanders

Age: 28

Occupation: Financial Advisor

Education: Undergraduate degree in Finance from the University of Illinois

Marital Status: Single but dating. Would like to get married in a few years and possibly start a

family soon after. Would like a spouse with similar demographics and who enjoys the same

activities as himself.

Resides: One bedroom high-rise apartment in River North with rent of $1,400 a month. He likes

the proximity to great bars and restaurants and other professionals his age.

Hobbies: Plays in a baseball league on the weekends. Runs 2 miles every morning and competes

in a number of 5ks and marathons.

Work Life: Averages 70+ hours a week working and spends most Saturdays at the office. Likes

to frequent coffee ships on the weekends. He manages his workload via Iphone, Ipad, and

MacBook.

Brand Affinity: Highly brand conscious and insists on brand name and designer products.

Tastes: Likes to shop at high-end boutique clothing stores. His firm requires suite and tie dress

attire every day. On the weekends he can be found sporting jeans and a t-shirt from either

Banana Republic or J. Crew. He enjoys good food wine, and craft beer.


Secondary Target Audience

The secondary target audience is women 21-28 years old. These women live in the Chicago-land

area, have a college degree or higher, household income average $30,000-$100,000+, and are

engaged. These women have a passion for fashion and are the typical trend followers. They are

willing to spend money on themselves and others.

Name: Jessica Adams

Age: 27

Occupation: Accountant

Education: Undergraduate degree in Accounting from the Loyola University

Marital Status: She has been engaged for a year and she is just a few months away from the big

day. Her and her fiancé have been together for 4 years.

Resides: Two-bedroom apartment in the South Loop with rent of $1,200 a month

Work Life: Averages 50+ hours a week working

Hobbies: She enjoys shopping and going out on the weekends. She attends movies and fashion

shows. Jessica typically stays in on weeknights because of her demanding job.

Work Life: She works at a large firm as an account executive she often works over time and her

days are mostly spent looking at a computer. She enjoys her work but often wishes she spent

less time at the office.

Brand Affinity: She is not as concerned with the brand, more with the look. If the product is

current and high quality, than she is interested.

Tastes: She enjoys shopping on Michigan Ave and most of her work attire comes from boutique

stores. She enjoys good movies and good food. She likes to try at least one new restaurant a

month.


2.4 Marketing Mix Analysis

Product

In an effort to analyze Peter Field products and services we have to observe what the

customer/client takes away from the product or service after or before purchase. Currently,

Peter Field has the product line of custom-made ties, bow ties, and pocket squares. Peter Field

will also bring color and pattern to the men’s sock market buy launching a line of custom socks.

Men don’t have as many ways as women do to express their personality except for with ties.

Peter Field now as the opportunity to capture both markets by pairing custom ties and

matching custom socks together. In addition to adding a new product, Peter Field will add a

new service called “TieScription”. Convenience offers customers an easier way to access, use or

purchase a brand’s products or services. Convenience apps and services increase engagement,

attract new customers and increase loyalty among existing customers. They can also increase

sales by providing the customer with immediate and convenient ways to communicate with the

brand, enjoy its services, and purchase its products almost effortlessly, 24/7. Peter Field will

offer a service that gives professional men an easy way to fulfill their tie needs on a specific

schedule. Men choose which style of tie they want and how often they want them delivered,

then log on and set up their tie delivery schedule with a few clicks. There will be an option to

add on other customizable additions such as pocket squares and socks. Established Peter Field

customers will already have their measurements stored under their consumer profile. New

customers can either come into Peter Fields office for a free measurement or can input their

measurements during the check out process. Peter Field also engages in the product service of

alterations, custom wedding alterations, and miscellaneous personalized alterations. Given the

nature of Peter Field's product and services the customer should experience a personalized

experience, because the product and service is personalized. In regard to personalization

customers and clients should be more engaged in the product/service. There should be more

product information available in regard to the fabric used to customize ties and the alterations

process. Peter Field's product gets high consideration in style, but more information should be

available describing its quality. The question of quality will give customers more to think about

in terms of the product. For example, if the custom tie is made from a finer fabric, then higher-

end pricing would be justified. Elements such as packaging and presentation are important for

strategic success. Peter Field's custom ties, bow ties and pocket squares come in a personalized

box that helps in its branding process. How does Peter Field's product vary from his

competitors, and what kind of relationship is established with customers/clients after product

purchase?


Place

Where will buyers look to purchase the Peter Field product? Currently customers have the

option of browsing the http://peterfieldcustom.com/ website to purchase a custom tie, bow

tie, or pocket square. Today, the Internet is growing and people prefer to do online shopping

than going to the actual store. Customer can also visit the Peter Field offices personally if they

want to purchase a product or service. Increased circulation of Peter Field would definitely help

generate awareness and revenue. What are the distribution channels for Peter Field? Peter

Field has gained recognition through Yelp reviews and referrals, but placing his product in

stores will increase recognition. This would mean offering a percentage of the sale to the

location (store/boutique) the product is placed. As far as we know, Peter Field only has

placement in two areas: in the Peter Field offices and its website. Opportunities for placement

include: trade shows, store/boutique placement, other websites, collaborative placement,

retailers and special events. There are plenty of placement opportunities available in this

segment. Peter Field competitors (retail) have an existing aggressive placement strategy.

Price

What is the value of a Peter Field product or service? That answer will determine the pricing

structure. According to the Peter Field website a custom tie can cost anywhere from $55 to $75

in price. Pocket squares are $25 and bow ties prices are not listed. Alterations services range

anywhere from $8-$60 depending on the service. By looking at the website a person could

establish Peter Field products in the high-end segment. Peter Field wants to position itself as a

upscale but affordable brand as well as superior quality accessories. However, competition in

this pricing segment is fierce. Any clothing retail chain such as: Macy's. Bloomingdale's and

Nordstrom's can sell a nicely designed tie from $30-$300. Not only are these retail clothiers

competition, but also men's retailers such as: Express, H&M, and JoS A Bank offer a fierce

competitive approach. Will a slight increase or decrease in pricing help Peter Field gain profit

margin? Also, what volume discounts, or discounts in general be offered to secure new

customers and retain older customers? The problem is that retailers offer customers instant

gratification because a customer can purchase an item and where it immediately. With Peter

Field the customer has to wait 10-14 days. Price differentiation at a lower or higher price point

could help Peter Field gain profits.


Promotion

In regard to promotion, the question to ask is: how, when, and where can we get our marketing

messages to our target audience? There are plenty opportunities to promote the Peter Field

brand, product, and service. Let's say that we have no, or a very limited budget and cannot

advertise locally or nationally on TV, in newspaper, magazines, or radio. There are still

opportunities to promote Peter Field. By researching the website:

http://peterfieldcustom.com/ there is an absence of advertising, this is actually a promotion

opportunity. Once the target demographic is selected, internet promotion opportunities can be

tailored to the target demographic. There are opportunities for local (magazine/free

newspaper/flyer) advertising at lower costs that national magazines and newspapers.

Promotional activity should be comparable to competitors in this segment and also strategic to

audience. Direct mailers, internet pop ads, store to store PR, coupons, discounts, events,

workshops and give-a-ways, and contest are also low-end promotional tools that could help

further promote the Peter Field brand.


2.5 Communication Analysis

The tie market is huge, which allows most companies to invest more money in successful

communication strategies. The most common communication channels are magazines,

Internet, direct marketing, and fashion/trade shows.

The larger companies advertise their products mainly through magazine ads, direct marketing

and the Internet. Each method of communication has a different goal. Companies use magazine

ads to introduce new collections and to reach new customers. Companies use direct marketing

to keep their current customers aware of what they have and to remind their loyal customers

to continue to visit their store. The most popular form of direct marketing companies use are

catalogs, which are usually sent monthly.

The Internet is very powerful in reaching and engaging consumers with a brand. The Internet

allows consumers to connect with businesses through their website. Every business has an

online website where they sell their products and try and turn visitors into future buyers and

subscribers. The benefits to a company having online subscribers all endless. It gives the

business an online database with information such as name, age, gender, zip code, phone

number, and email address. This also allows customers to be aware of product promotions,

sales, and new products that will be sent through emails and/or text messages.

The cost of communicating with consumers is very expensive. Most small companies can’t

afford to advertise in magazines and/or direct mail so they utilize the Internet and other social

media sites as their primary form of communication. The cheapest way for a company to

promote and sell their products is through their website. The most successful way to get

consumers to visit your store or website is through word of mouth.


2.6 Competitive Analysis I

Nicholas Monterotti mentioned that he found 2 to 3 outside local competitors that offered

custom made ties, bow ties, and pocket squares, He also mention that there are 2 to 3 outside

local competitors that offer custom alterations in his niche – (demographic). However, the

alterations market is wide open. Anyone and everyone can do alterations. Peter Field has taken

a piece of the alterations market by targeting a specific demographic (the 20-20's style

conscious male). Also, through positive referrals his alterations service has added revenue.

There is a question here: Does the alterations service take away from the positioning of custom

ties, bow ties and pocket squares? Peter Field operates its alterations on a low end scale,

meaning that they alter shirts, and would most like engage in specialty or non-traditional

alteration services: i.e., wedding alterations and special events. The biggest competitor to

Peter Field is actually retail department stores. If I can buy a beautifully tailored, quality fabric,

well-designed tie, bow tie, or pocket square from Bloomingdales, Macy’s or Jos A Bank, then

what is going to make me buy one at Peter Field? This is the question posed in a market

strategy aimed at generating revenue. How do we convince this customer to buy a custom

made item from Peter Field? The high-end customer could pay around $75-$175 for a custom

made tie from Peter Field. This is around the same price point I can buy a nice quality ties from

any of the above mentioned retailers, but yet, the alterations customer is not necessarily

considered high-end to Peter Field (high maintenance in regard to looks and appearance, but

financially?). The biggest competitive threat to Peter Field is retailers. From low-end to high-

end clothing retailer’s fashionable ties, bow ties, and pocket squares can be purchased and

immediately consumed. Customization and customer preference are the advantages that Peter

Field has over its competition.


2.7 Competitive Analysis II

Peter Field has a few minor competitors because of the similarity of the product and the target

it reaches. These competitors include The Tie Bar, DIBI Ties, and Drake’s London.

The Tie Bar is a Chicago-based tie company that designs their own colorful and stylish neckties

available in silk, wool, and cotton, and sell them for only $15. Company was launched in 2004.

Their message “rather than wearing that one good tie in your closet for that special client

meeting or job interview, you can now wear your good tie everyday.” Major outlets such as GQ

Magazine, NBC-TV, the USA Today, and the Wall Street Journal have featured them. Since then,

numerous other newspapers, television programs, celebrities, and fashion magazines have

showcases their products.

DIBI is an established tie and accessory company that emphasizes its commitment to a

worthwhile cause, by providing school supplies to rural communities throughout the world.

DIBI USA is a line made in the USA. Price range is between $27-$49 dollars.

Drake London was founded in 1977 and is the UK’s largest independent marker of handmade

silk ties, also colorful luxury cashmere, lambs wool, silk scarves, and throws made in England

and Scotland. Their ties are more expensive than other brands.


2.8 Consumer Behavior Analysis

Culture Factors

Culture is the most fundamental determination of a person’s wants, needs and behavior.

American culture shows distinct brand preferences in many areas, one of which is clothing. A

person’s clothing can reflect income, education, social status, etc. Also, in western culture

trends are rapidly changing, however dressing professionally and accurately is consistent

professional, career oriented model. Pressure is forever increasing for men to look their best

and wear their clothes well. A person who dresses well is perceived as detail oriented and feels

strongly about their personality.

Social Factors

The consumer is much more influenced by the reference groups, which include family, friends,

neighbors, colleagues, etc…The groups in which an individual belongs has an effect on their

social position or status. The more unique and fitting a person’s clothes are, the more

observant people may become. The influences of media and the pressure of competition is

factor that will make consumers want to stand out, or fit in to have a social presence.

Personal Factors

These factors include age and stage in the life cycle, occupation and economic circumstances,

lifestyle, personality and self-concept. All these factors play a very important role in the

purchase of clothing. A person’s sense of dress tells a lot about his personality, which is why

people are often very conscious about it.

Psychological Factors

Motivation, perception, learning, beliefs, and attitudes are key factors that can influence a need

in personality. They can also be prime factors that lead to the purchase of Peter Field Ties.

There is a psychology pertaining to perception of self, and perception in the eyes of others.

Feeling that you are well dressed will build self-confidence and attitude in regard to self.


2.9 SWOT Analysis

Strengths

• In-depth industry insights and knowledge.

• Strong customer loyalty.

• Positive online presence (yelp reviews).

• In-depth knowledge of customization and alterations process.

• Metropolitan location is good for the desired localization market niche.

Opportunity

• Raise brand and customer awareness through advertising and direct marketing.

• Increase product range, expand designs and fabric choices.

• Market localization expansion to increase market presence.

• Create a personalized product/service presence in a specific market niche.

• Launch a line of custom socks

Weakness

• The dependence on outside funds required to develop the business/ limited capital for

marketing.

• The difficulty of developing brand awareness as a start-up company.

• The lack of company awareness concerning product and services.

• Competition among retailers is abundant.

• Lack of research and strategic planning for brand development.

Threats

• A fall in the economy that could effect on spending habits on these products.

• Expected competition from previously established market competitors.

• Changes in fashion trends and consumer attitudes could negatively affect current

product model.

• A bad economy could stop people from buying new ties

• Social media could lose its impact


SWOT ACTION PLAN

By looking at the key strengths and weaknesses, along with potential opportunities and threats,

this plan will capitalize on Peter Fields growing consumer base, by adding convenience and

variety to existing target markets, as well as new ones. Peter Field will increase product range

by breaking into the sock industry.

Peter Field will expand into the wedding industry due to existing brand awareness, which will

help to stimulate expansion efforts and brand loyalty overall.


3.0 Market Research

Survey and interview results

Interview segment #1 - retail men's clothing employee (Macy's, Bloomingdale, Nordstrom, or

other - downtown location)

Brad Koperski- 22- Banana Republic

1. From your experience, what is the average price range for tie purchases?

Around sixty dollars.

2. What do men or women who purchase ties from your store generally look for? (style/design?

fabric quality? length? brand?)

They mostly look at the colors and the fabrics. The pattern on the tie says a lot about the

person and so typically they spend the most time looking at the ascetics.

3. What is a latest or existing trend for men and women that purchase ties?

I don’t really know about trends, but solid colors and stripes are most popular.

Joe Handzik- 26- H&M

1. From your experience, what is the average price range for tie purchases?

10-15 dollars

2. What do men or women who purchase ties from your store generally look for? (style/design?

fabric quality? length? brand?)

We are fast fashion and so it’s usually about what is sleek and in style. People who shop here

are looking to look good on a budget.

3. What is a latest or existing trend for men and women that purchase ties?

The skinny tie seems to be doing really well; dark blues, greys, and blacks are popular.

Interview segment #2 - working class executive male (annual income $30,000 -

$100,000+/frequently shops for clothes)


Matthew Janosek- 23- Union Pacific Railroad

1. When purchasing a tie, what are your expectations in regard to price, quality and design?

I don’t buy ties. If I have to wear one. I just wear whatever my girlfriend buys me.

2. How much are you willing to pay for a custom made tie? (range $30-50 / $50-75 / $100-300)

I spend about fifty on a hat, so somewhere in that range.

3. Are well made custom pattern or custom fitting ties essential to appearance in regard to

wearing a suit or professional attire?

I don’t really know how custom made would affect a tie.

John Keller- 23- Lakewood Security

1. When purchasing a tie, what are your expectations in regard to price, quality and design?

What I expect depends on what I’m buying. If I’m buying a ten dollar tie from Sears, I’m going to

expect a basic piece of fabric that should last for a few months, but If I’m buying a hundred

dollar tie from a specialty store I am expecting silk, I am expecting no fraying edges- ever… The

higher the price the higher the expectations.

2. How much are you willing to pay for a custom made tie? (Range $30-50 / $50-75 / $100-300)

No matter what, a tie is a tie. It is scraps of fabric. I wouldn’t pay more than 50 for a tie.

3. Are well made custom pattern or custom fitting ties essential to appearance in regard to

wearing a suit or professional attire?

No, as I said before a tie is a tie. I’ve never had a custom made tie, but I don’t see how it would

be much different from a tie I bought in a store.

Interview segment #3 - male or female working in the custom alteration industry

Jenny Le- 19- One Alteration

1. What are some of the more popular requests or issues with men's clothing alterations?

(pertaining to business professional wear)

The most popular request is to fix the length of pants.

2. What are your impressions on custom made ties? In your experience and opinion is there a

demand for this kind of product?

I’ve never heard of a custom made tie before, but I’m sure there’s some sort of market for it.


3. What are the attitudes of a client that seeks alterations for clothing? Are clients concerned

about fit? For what reasons? Weight gain or loss, or really what a custom fit?

If they are coming in to get the alterations done, then they or their significant other cares about

fit. Most of the time people who come in here bring in new clothes and have them altered to

fit. Some people come in for weight gain or loss, but that’s not as popular.

Rachel Zordani- 26- Hi-Way Cleaners

1. What are some of the more popular requests or issues with men's clothing alterations?

(pertaining to business professional wear)

The most common thing we have for males is jacket sleeves. Often they are to long so we just

take them in a bit.

2. What are your impressions on custom made ties? In your experience and opinion is there a

demand for this kind of product?

I’ve seen a few before, they are not for everyone but certain types of people would really go for

them.

3. What are the attitudes of a client that seeks alterations for clothing? Are clients concerned

about fit? For what reasons? Weight gain or loss, or really what a custom fit?

A person going in to get their clothes altered cares about fit, or they wouldn’t be coming in.

Most of our customers bring in the same type of clothes; some people bring in every pair of

pants that they have because pants just don’t fit them, others have problems with shirts, it all

depends on the person.


Survey Monkey Segment:

Answer Choices– Responses–

18 to 24 19.18%

14

25 to 34 35.62%

26

35 to 44 19.18%

14

45 to 55+ 26.03%

19

Total 73


Female 19.44%

14

Male 80.56%

58

Total 72

Note: Q1-Q2 and Q11-Q13 contain location and psychographic data – discussed

in R&D Insight


Single 63.01%

46

Living with partner 19.18%

14

Married 12.33%

9

Married with children in home 5.48%

4

Total 73


Single 63.01%

46

Living with partner 19.18%

14

Married 12.33%

9

Married with children in home 5.48%

4

Total 73



I do 95.89%

70

My Significant Other 2.74%

2

A family Member 1.37%

1

Total 73


$50-$100 24.66%

18

$100-$300 46.58%

34

$300-$500 26.03%

19

$500+ 10.96%

8

Total Respondents: 73




Style 52.86%

37

Fit 37.14%

26

Design 7.14%

5

Brand 2.86%

2

Total 70


Under 1 month 43.06%

31

1 to 6 months 36.11%

26

6 months to 1 year 9.72%

7

Not sure 11.11%

8

Total 72


$40 20.83%

15



$80 41.67%

30

$150 31.94%

23

$300 5.56%

4

Total 72


Don't care for them 2.78%

2

I am aware, but never purchased them before 30.56%

22

I am aware and have purchased a custom made tie, bow tie or pocket square

before 47.22%

34

I have not purchased a custom made tie, bow tie or pocket square before, but

would be in interested in purchasing one 19.44%

14

Total 72

Final Survey Monkey tally: 72 responses (74 total: 2 did not complete survey)


Summary of Research Insight:

Interview Segment

For our research we elected to interview two people from three different segments: a retail

employee segment, a purchaser/buyer segment, and an alteration/custom segment. These

segments were designed to get an opinion about the market of custom ties and purchase

habits. The retail segment leads us to believe that style and design are trends that trigger

purchases. This is the advantage retailers have. They can mass produce many different

patterns, and style designs that appeal to buyers. Buyers have the advantage of making a quick

and inexpensive purchase for ties. In the second interview segment – the buyer segment, we

found that buyers did not pay too much attention to ties. The responses remained consistent

with the findings in the first interview segment that suggest ties are in available everywhere,

and that finding a suitable tie at a reasonable price (under $50) is not difficult. In the third

interview segment – the alteration segment, we found that alterations mainly focus on pants,

shirts, and jackets. This interview segment validates the belief that a customized personal fit is

important to appearance and clothing preference. The findings in the third interview segment

do not support the popularity of custom ties, bow ties and pocket squares. However, the

findings in this segment are encouraging because Peter Field has a small market share in the

men’s wear custom alterations and custom wedding alterations market.

Survey Segment

In the survey segment we created a list of 16 questions to ask respondents. We positioned the

survey as a mock research session being hosted in the local Chicago market. We posted an

anonymous ad online offering an incentive of $125 for those who would be invited to

participate in a mock research session for one hour, and that they should respond with their

answers so that we could invite them to participate in the mock research study. The questions

gave no information about Peter Field. This was done for two reasons: 1. No bias or opinion can

be formed by people who may know Peter Field, or form a bias based on the name or brand 2.

No respondent could research Peter Field before submitting their responses, and thus forming

an opinion based on the website or online reviews. This ensured that responses were as

truthful as possible.


The responses received were successful. We received a total of 72 validated responses. The age

responses where fairly even in percentage. Respondents in the 24-35 age bracket accounted for

the majority of responses at 36%. The 45-55 age bracket was second with 26% of total

responses.

80% of the respondents were male, and 60% were singe, while 20% were living with a partner.

95% of the respondents were responsible for buying their own clothing. 52% felt that style was

most important over design, fit and brand. Fit was important to 37% of respondents in this

category. In regard to spending habits, 47% of the respondents spent $100 - $300 a month on

clothes, and 43% purchased a tie within one month. 41% of our respondents felt that $80 was a

willing price to pay for a custom made tie. 32% of responses would spend $150 on a custom

made tie, and 21$ would spend $40 or under. Only 6% would pay $300 for a custom made tie.

47% of responses have purchased a custom tie, bow tie or pocket square. 30% were aware of

custom ties, but never purchased them, and 20% would never purchase a custom tie, bow tie,

or pocket square.

Income:

Income results were evenly distributed, and did not have a significant impact in purchase

habits.


Less than $25,000 23.29%

17

$25,000 – $35,000 13.70%

10

$35,000- $50,000 16.44%

12

$50,000- $75,000 23.29%

17

$75,000+ 23.29%

17

Total 73

The distribution in income responses was beneficial. We were able to illicit responses at 23%

for both $50,000 - $75,000 income range and $75,000. There was also an equal 23% response

rate in the $25,000 income range. The fewest responses came in the $25,000 - $35,000 income

range. The responses income are able to help determine whether we can position Peter Field

products and services as a high-end product or mainstream.


Q1 and Q2 were omitted from research insight because they pertained to information such as:

name and contact information. Q11 – Q13 contained psychographic questions in which we

asked respondents to give information about their personal appearance – ego related

questions. 66% of responses to a high scale of “10” answered that in the range of (low 1 – high

10) that looking their best was the highest (10 on scale) priority. 47% of responses gave a high

10 response that it is important that others see them well dressed and give them compliments.

Only 27% of responses gave a high 10 that stated that their appearance was most important

them over everything else. We estimate that family, food and shelter are factors related to this

question, but 27% of high 10 responses are encouraging to our research.

Key Findings:

The key findings we can gather from our research is that there is an emphasis on appearance,

style, price and fit. Buyers are willing to pay $80 - $150 dollars for a custom tie (our research

“sweet spot”). Around 50% of respondents spend $100 - $300 a month shopping for clothes.

The buying and spending habits are positive for Peter Field to gain a bit of local market share in

the tie market. However, the problem is that the retail presence in the Chicagoland market is

very competitive. The objective would be for Peter Field to create brand awareness. 47% of

respondents are purchases a custom tie, bow tie or pocket square before (these responses

could be bias for those who felt answering “yes” to this question would qualify them for the

study). Even though we have 47% that may not be completely accurate – we actually have 30%

of respondents who have heard of custom ties, bow ties and pocket square who may be

persuaded to purchase one in the future. The negative aspect is that 20% of respondents didn’t

care for custom ties, bow ties, or pocket squares. This may be due to the strong influence and

saturation of the clothing retail market.


Conclusion:

The major problem hindering Peter Fields’ growth is sufficient capital to increase inventory and

products, hire more employees, and creating brand awareness – most importantly. Peter Field

already has fulfilled enough orders to gain a small customer base and a small clientele base, but

it is time to expand into the local market and expand the Peter Field brand - tie industry.

Peter Field has a quality product and a mission to provide the best customer service. These are

keys to becoming an industry competitor. Currently, they have exceptional feedback on both

product and customer service. Peter Field has a near perfect yelp score and current customers

are happy, the next step is to show the rest of Chicago-land what Peter Field has to offer.

Peter Field still must get past a few hurdles such as low brand awareness, limited capital, and

close cutthroat retail competitors. The next step is to build the brand awareness and to show

the general local market population what Peter Field has to offer young – mid range

professional males, looking to put their best fashion foot forward. Peter Field has potential to

become successful as long as he gets past current marketing obstacles, such as: lack of

promotion/lack of awareness.


Table of Contents:

Executive Summary -------------------------------------------------------------------------------------------------------32

Target Marketing Communication ----------------------------------------------------------------------------------33

Brand Positioning -------------------------------------------------------------------------------------------------------34

Primary Marketing Objectives: --------------------------------------------------------------------------------------------36

Audience ------------------------------------------------------------------------------------------------------------------37

Primary Strategy/ Message --------------------------------------------------------------------------------------------39

Primary Strategy/ Message --------------------------------------------------------------------------------------------44

Schedule Timeline -------------------------------------------------------------------------------------------------------47

Budget ------------------------------------------------------------------------------------------------------------------48

Creative Strategy -------------------------------------------------------------------------------------------------------49

General Suggestions -------------------------------------------------------------------------------------------------------51

Conclusion ------------------------------------------------------------------------------------------------------------------52


Executive Summary

Introduction of Peter Field:

This integrated marketing communications campaign presents a marketing plan that outlines strategies

and tactics that will enable Peter Field custom ties to penetrate the Chicago market. Research insights of

the Chicago market provide the rational for the overall marketing strategy presented in this campaign.

What Insights did our Research reveal?

82.2% of people who took the survey were either single, or living with their partner

The average consumer spends 100-300 dollars per month on fashion

43.1% of responders have purchased a tie within the last month

These insights prove that there is a significant market for custom ties, bow ties, and pocket squares in

the Chicago Market. The next step is to get the brand known and convince buyers to choose Peter Field

over all competitors.

The Strategy:

Target young professional males between the ages of 25-50

Put the Peter Field name into the wedding fashion industry and create a new trend for

customized grooms fashion

Create an interactive business to consumer strategy

The Execution:

Peter Field will have a heavy presence in the Chicago Wedding industry, custom ties, bow ties,

and pocket squares will be the newest trend seen in all of the Chicago bridal expos

Revamping all of Peter Field online presence will allow for a more interactive raptor with the

young professional community


Primary Target Marketing Communication

Peter Fields main objectives for this plan are to develop brand awareness, to reach our

main target market, and to introduce a new line of custom socks. In order to do this

effectively we will be implementing strong and inexpensive marketing strategies. Advertising is

the primary component to our approach. We will also supplement with customer promotions,

direct marketing, and various public relation strategies.

Creating brand awareness and enhancing the Peter Field brand image is the main goal

for advertising. Through consumer promotions and direct marketing we will

encourage our customers to continue buying our products and introduce them

to new products. We will utilize various forms of public relations to help generate brand

awareness.


Brand Positioning Strategy:

Primary Target:

Message White Collar: This message would focus on professionals who are

focused on their careers and appearances. This message is tailored to men.

Shapes Angular and fresh

Rituals Office structure

Traditions Look good, feel good

Symbols Pens, papers, laptops

Sight Greys, blacks, whites Sound Classical Music

Taste Coffee

Smell Cologne

Touch/Texture Smooth Sleek

Tag Line “Fit to be tied”


Secondary Target:

Message Young fun weddings with a classy elegance, there would be a focus on customization

Shapes Flowing and rounded out

Rituals There is several bridal fashion rituals, we will add the groom to that ritual

Traditions Focus on matching groomsman with customize groom Symbols Wedding rings

Sight Blues and Greens focusing on spring colors

Sound Fun and upbeat while still being elegant

Taste Wedding Cake!

Smell Spring scents: Citrus, flowery Touch/Texture Smooth and Sleek

Tag Line “It’s not just her day, it’s your day”


Primary Marketing Objectives:

Peter Field primary marketing strategy is to create brand awareness in the beginning

of the first launch. We want to position Peter Field as the number one custom tie, sock and

alteration company in the consumer’s mind. We want to make sure that our main target

understands Peter Fields unique business concept. By doing so, Peter Field will be able to

build loyal customers that will start the word of mouth throughout this powerful

market and that will continue to spread into new markets. The following marketing plan will

help us achieve our goals.

Media Plan:

Our primary objective in this media plan is to create brand awareness. In order to develop a

successful brand awareness campaign we will focus on frequency and continuity.

Our main goal is to establish Peter Field as a quality high-end custom tie, sock, and alteration

company. We also want to inform future customers about Peter Field’s line of products and

services. Ties are not purchased on a frequent basis, so it is important to make Peter Field their

first choice when contemplating a purchase. To reach our goals we will be placing repetitive ads

in several media outlets such as catalogs, direct mail, Internet, mail, newspapers and out-of-

home advertising.


Primary Target Audience:

We will be targeting professional males 25-50 that are focused on appearance.

Primary Target Media

Strategy:

Media Objectives Newspapers

Peter Field will place print ads in local newspapers such as the Red Eye, The Chicago Reader, and the Onion. Internet Initially, Peter Field will place banner ads on a local Chicagoland website, TheMidWasteland.com Out-of-Home Peter Field will use nontraditional ways to advertise by placing mystery boxes around the Chiagoland area with the logo and store information to create hype of the new brand.

Geography The focus of this campaign will be in the city of Chicago, focusing specifically on the SOUTH LOOP.

Seasonality Between the months of October- December


Secondary Target Audience:

We will be targeting women ages 21-28 that are currently engaged and are in the final stages of

planning a wedding.

Secondary Target Media

Strategy:

Media Objectives Bridal Show: The objective for this medium is to gain

awareness in the bridal industry and to obtain a list of information on current engaged couples. Bridal Fashion Show: The objective of this medium is to have an opportunity for current brides looking at groom fashions to see the quality of work Peter Field has to offer. Partner with small bridal shops: We would place flyers and advertisements in boutique shops so when brides go to see bridal fashion, they can begin to also look at grooms fashion.

Geography The focus of this campaign will be in the city of Chicago, focusing specifically on the SOUTH LOOP.

Seasonality June and September are the most popular wedding months so EARLY SPRING will be the main focus of the campaign.


Internet Website:

Peter Field’s website peterfieldcustoms.com is an important piece for our communication

strategy where our main purpose is to draw more customers into our business. It is a content

and ecommerce website. We want to make sure we provide our visitors with the necessary

information about our company since it our main source communication. We will redesign the

website, making it easy to navigate. The website will contain a Flash video that will show

customers the proper way to tie a tie and the process of making a custom made tie. We will

also change the layout on how the ties are displayed. Instead of showing a piece of fabric we

will now display the whole tie. The website will also have new fonts and background images to

make it look more appealing.

Peter Field’s e-commerce site will allow us to sell products online to make it more convenient

for shoppers. It will contain an appealing catalog that will show a presentation of Peter Field

products by looking at photos, description of the fabric, and customer ratings. There will be a

shopping cart to assist customers as they shop. The site will continue with a payment page

where customers will also be asked if they want to sign up for the TieScription service.

The website will also provide customer service. Customers can send e-mail or use the FAQ for

further information about their order status.


Primary Target Promotional Strategies :

Peter Field will incorporate various promotional tactics in order to meet the objective of brand

interaction with new and existing customers. Promotions will offer incentives to increase

customer satisfaction and brand loyalty.

The Face of Peter Field Contest:

One of the smartest marketing tactics a company can do is hold a contest. Peter Field will

promote itself by conducting a model search to be the face of Peter Field. Our panel of judges

will chose the Top 50 entrants, and their photos will be posted online for public voting through

the Peter Field website, Facebook, and Instagram. The winner will receive $1,000 and join Peter

Field on a photo shoot for their new advertising campaign.

Birthday Gift:

Each month birthday gift cards will send out to our subscribers who provided their birthday

information. The gift card will have a personalized birthday message on it as well as a special

offer to take 10-50% of their purchase. The discount amount will be based of their loyalty to the

company. For each year they are a customer, they get 10% of their purchase.

Friends and Family Coupons:

Peter Field will send special friend and family discount cards to subscribers around the holiday

seasons. These coupons will give customers 15% of any alteration or tie purchase during the

months of October – December.

Peter Field gets Instafamous:

Its time for Peter Field to get Instafamous! Social media offers a low-cost way for businesses to

get more engagement with customers; one of the best ways is through Instagram. With 130

million monthly users as of 2013, the sheer scale of the photo-sharing service makes the idea of

boosting your image in the Insta-World somewhat overwhelming, so lets target those who have

master the concept. Peter Field will reach out to the “Insta-Famous” (a person with more than

15k followers) users in the Chicago-land area that promote fashion. Peter Field will send that

user a custom tie in exchange for them to share photos of them wearing the ties in their posts.

This is a low cost way for Peter Field to get their name out there to over 15,000 people.


Primary Target Public Relations Strategies

& Tactics:

The messaging and positioning component of this campaign will drive the public relations to

align with the Peter Field company brand, while incorporating new tactics. These tactics will be

incorporate innovative ways to get the consumer more involved in the brand.

Media Coverage: Peter Field will release various press releases informing the public

about the brand and products and services offered.

Social Media: Peter Field will enhance its social media presence on Facebook, Twitter and

Instagram. The company will integrate blogs and promote them on Facebook and Twitter.

Blogs: Peter Field needs to constantly update their blog with news from around the world

regarding different topics relevant to the brand. Whether its fashion trend updates, pictures

and information sent in from loyal customers, Peter Field will need to make sure this

information is available to their customers.


Database Programs:

Collection: Through the process of data collection, we will be provided with information for

direct marketing and Internet marketing. All information that will be collected will be available

from an online database program on the Peter Field website. Information such as birthday,

gender, lifestyle, and email address will be collected.

Outside Database: Peter Field will use the data from outside companies to target customers

through direct marketing that meet the demographics and psychographics of our primary

targets.

Direct Marketing: We will implement a new direct marketing campaign to reach our customers.

We will create a unique and creative way to stand out from typically direct mail pieces. We will

send different pieces of direct mail at various times in the year. We will use e-mail as our

primary form of communication to minimize cost.

Permission Marketing: Peter Field will update the subscriber tab on their website which allows

them to obtain information by asking customers for their email address to get future

information about their products and promotions. Peter Field will need to create a thank you

email that confirms they received the information.

Frequent Shopper Program: We will encourage customers to continue buying Peter Field

products by offering a rewards and incentives of being in the frequent shopper program. We

will include three levels of membership status that come with different perks.

Silver (Any purchase)- Special discount coupons

Gold ($250+ a year)- Free express shipping, special discount coupons, and birthday gift

Platinum ($500+ a year)- Free alternation pick up and drop off, free express shipping,

birthday gift, exclusive deals and free gifts.


Creative Strategy:

Big Idea: All Peter Field accessories are individual for each customer. The Peter Field brand is

more than just a tie or sock, it’s a lifestyle. When customers purchase anything from Peter Field

it is representative of who they are and what they stand for. Thin is turn, will turn the Peter

Field brand into a culture and lifestyle.


Secondary Target Media:

Bridal Show-

This show takes place in early spring in the city of Chicago. The most popular

wedding month is in June. Brides who are having a June wedding will be going to

a late March Bridal show in order to piece together the remaining parts of their

wedding such as grooms fashions. We also suggest using this specific show

because it is in the city of Chicago and it is the closest bridal show to where the

target audience resides.

Fashion Show-

This fashion show takes place during the bridal show. At two PM the bridal show

makes an announcement for all guests to attended the fashion show, at this time

hundreds of brides in charge of choosing the grooms fashion will all be watching

Peter Fields custom ties walk down the run way. This will be exposure beyond

the booth because the futures brides will be able to see the craftsmanship and

not just photos and advertisements.

Partnering with Local Bridal Shops:

This is essential, when a bride goes to purchase her wedding gown; she is not

just thinking of her own fashion she is thinking about the general fashion of the

wedding. Being able to advertise in store will allow for Peter Field to be the first

thought that comes to mind when choosing grooms fashion.


Bridal Shops in Chicago’s South Loop to place advertisements in:


Timeline:

Secondary Target:

Month Activity

February Order Advertisements for the Bridal Show and Fashion Show

March Attend the Bridal Show and Fashion show- keeping a detailed list of e-mails

April Send out thank you notes to bridal show attendants

Primary Target:

Month Activity October Place Banner Ads

November Sending discount e-mails to established customers

December Place News Paper Ads and Send out Holiday Greetings


Budget:

Bridal Show 600

Fashion Show 2,000

Advertisements 254.85

Newspapers 439.73

Birthday Cards 60

Loyalty Card 99

Banner Ads To be determined

Total 3,453.58***

Bridal Show: 600 for a booth

Fashion Show: 2,000 to be included on the runway

Advertisements: 16.99 for 50

Loyalty Cards: 60 for 1,000

Birthday Cards: 99 for 1,000

Newspaper Ad: 439.73 for one column in the Red Eye

Banner Ads: Price will be seen in the final doc.


Primary Target Creative Strategy:


Secondary Target Creative

Strategy:

Fliers handed out at the bridal expo and in boutique bridal shops will resemble a wedding

invitation.


Suggestions:

We suggest re-naming the Peter Field ties. We

see confusion between trying to focus on locally

made products and also having British themed

names. We suggest naming the ties after

Chicago staples such as “The Red Line” “The

Bean” and “Michigan Avenue”

We suggest a revamp of the Peter Field

Website. We think that the background of the

website should be simpler, such as a plain black

backdrop.

We also suggest having a professional

photographer taking the pictures of ties for the

website. We suggest showing the ties on a

person rather than a photo of just the fabric.

This will give the consumer a better idea of the

product available.


Conclusion:

The major problem hindering Peter Fields’ growth is sufficient capital to increase inventory and products, hire more employees, and creating brand awareness – most importantly. Peter Field already has fulfilled enough orders to gain a customer base and a small loyal clientele, but it is time to expand into the local market and expand the Peter Field brand - tie industry. Peter Field has a quality product and a mission to provide the best customer service. These are keys to becoming an industry competitor. Currently, they have exceptional feedback on both product and customer service. Peter Field has a near perfect yelp score and current customers are happy, the next step is to show the rest of Chicago-land what Peter Field has to offer. Peter Field still must get past a few hurdles such as low brand awareness, limited capital, and close cutthroat retail competitors. The next step is to build the brand awareness and to show the general local market population what Peter Field has to offer young – mid range professional males, looking to put their best selves forward. Peter Field has potential to become a nationwide industry standard as long as they get past current marketing obstacles (lack of promotion).

Marketing Plan

Documents

Transcript of Marketing Plan