MARKETING STRATEGY Communication: Marketing strategy should be clearly communicated to communications and training teams to assist them in defining the yearly priorities in function and budget, but also to the MU team members to lead and align strategy and execution. Planning: Based on PCD Marketing Plan for Asia, PCD France availability of new products, and the specific request of the Korean market, preparing a marketing plan including the yearly launching plan and promotional plan of new products and basic business. Market Brief: For each launch / promotion, prepare the marketing brief in conjunction with the communications and training teams. Distribute the accordingly, observing deadlines. Forecast: Liaise launches with the sales dept. to forecast the realistic quantities of promotional items as well as new products including Product specialist responsible products. Plan execution: Interface with registration, import, marketing and France to ensure that Marketing Plan will be fulfilled within the time schedule. When necessary, revise the Marketing plan, justify this revision to the Marketing Director and distribute the revised plan. Reporting: Monthly / Weekly report to the top management and other relevant reports (new product launch result / qualitative feedback, etc) to communicate with Region & Central team. Provide product dashboard to all related departments, if necessary. MARKETING MIX Product: Establish annual forecast by product and monitor the performance of each product category, highlight the products with poor performance and recommend solution to resolve poor sales. Recommend the product deletions on an annual or seasonal basis. New products: Base on the marketing brief provided by France and all the necessary surveys and analysis of the Korean Market, needs, and trend, establish the market- mix of all new products. Prepare the promotion plan to maximize the potential sales of all new product launches. After the launch of new products, analyze the sales results and the reaction from the market, communicate your conclusion to the Marketing department, recommend areas of improvement and revise the sales forecast, if necessary. Price: Monitor a competitors’ price list survey matching equivalent products to those in our range, Report any retail price increase. Based on the suggestion given by France, the retail price policy of our main competitors, the market trends, and price structure, propose a retail price for each new product and prepare a revision of our retail price policy whenever it is necessary. Liaise with sales director and marketing managers to propose the selling price and qualities of promotional items. Materials: Prior to the preparation of any DM, brochure, media text, and upon the request of communications manager, product manager will supply the concept, strengths, product claims, key words for each product in Korean-based on this brief, the communications manager will prepare the DM, brochure, media text and submit the final version to the product manager for her comments. When the DM, brochure, media text are coming from France, and just need to be translated, the communications manager will have to submit the final version to the product manager. Competition: Based on the Sales department reports, analyze the activities of the competition in terms of new products, promotions, marketing emphasis, service orientation, etc. Communicate the results. Execution of imaginative and original promotions which set Dior in a positive and unique market niche, in line with our marketing strategy and corporate margin. Vendors: Commission vendors with enough lead-time to enable a work quotation prior to commitment. Compare quotations to obtain the best quality for the best price within the lead- time. Lead time: Interface with the different department, France and all local contractors to execute all promotions within the set lead time.
BUDGET Sales Forecast: Based on the marketing strategy including the promotion plans and market trends, propose a yearly sales target for each product category, for the basic business and the new products. Upon its approval, prepare a sales target in units per reference and month, forward it to the Department of Sales, Import and Distribution. During the year, monitor actual sales versus forecast, communicate the necessary revision to all departments. For all the new products, provide the import manager with the quantities of the 1st order and the 1st repeat orders in due time. Profit: Monitor the gross margin of basic stock including new products. Establish retail prices for promotional offers that are in line with our financial objectives for gross margin. Monitor the profitability of promotional offers and adjust the product mix when necessary to achieve the gross margin. Expenses: Establish a yearly promotion budget by action in terms of menu and local expenditure, monitor these expenses to ensure that budget is adhered to and not exceeded. Maintain flexibility enabling charge according to business demands to maximize budget effectiveness. Budget control: Approve all invoices for payment by reconciliation against quotations forward to accounting department with the quotation. Investigate discrepancies directly with the vendor prior to payment. Stock: Study regularly the stock inventory, highlight the abnormal over stock positions and recommend solutions to reduce their level. Meet regularly with import and logistics directors to highlight and prevent problems of product arrival and availability, out of stock position, production problems, fashion trends, under-forecasting, over demand, customer problems in order to improve the stock control. Inform the Marketing and Sales department when necessary and recommend solutions. |