Multichannel direct marketing is a way to provide convenience to customers by offering them more than one way for them to buy. Depending on their need, customers may shop from more than one outlet. A main benefit to companies is that multichannel shoppers are not only more loyal, but they also spend more.
The ideal multichannel marketing formula is to have an integrated message and a consistent customer experience while using the different channels of catalogs, retail stores, and Web sites. Given the general commerce landscape and competitive threats, companies need to understand their customers and their experience.
Prepare a research plan to gather basic information for a multichannel marketer of men's clothing. They have a database of 250,000 current customers (which they have purchased within the last 12 months) with an average order size of $120.00. You will want to address customers, competitive customers, and customers that use individual as well as multiple channels for their purchases. This plan should include a statement of research objectives for each project item, and the specific type of research technique best suited to meet the objectives..
Statement of Objective
This paper talks about Multichannel marketing with the help of facts and information collected through primary sources that are available online. The objective of this paper is to gather all the relative information on Multichannel marketing from a clothing retail store's perspective that would provide the reader an insight on the subject.
Clothing Industry in USA
The clothing industry of U.S. has seen a rapid growth in the last two decades with a lot of new players entering in the market. Some of the leading brand names have expanded in other developed and developing countries of the world and grabbed the opportunities successfully, post liberalization. The U.S. apparel retail industry had the revenue of $304.96 billion till the end of the year 2009. The compounded growth rate was of 3.2 percent annually between 2005 and 2009. Among them, the menswear market shared revenue of $ 95.7 billion in 2009 with the same growth rate during that period (Business Wire, 2011).
There have been some of the big names in the U.S. clothing industry, especially in the men's clothing section, such as Ralph Lauren, Diesel, Gucci and Calvin Klein. Some other popular brands include Allen Edmonds, Black Fleece, Hamilton, Blues Jeans, James Parse, Johnson Woolen Mills and others.
Multichannel marketing is a way of marketing, which applies multiple methods of marketing to deliver a product or a service. These channels include retail stores, websites, mail order catalogue or direct personal communications to customers by letters, emails or text messages. The objective to adopt a Multichannel marketing strategy is to provide the customers with different outlets from where they can buy the products. It adds a new path of communication between the marketer and the customer (Burrow & Bosiljevac, 2011).
A Multichannel marketing system works successfully if it is supported by an enhanced supply chain management. Multichannel marketing allows a retailer to reach its prospective customer in a channel, which customer wants. In the roots of a multi marketing channel lies, the idea of media mix, where a buyer can reach at a place of purchase at different times and in ...
The solution discusses a multichannel marketing of men's clothing.