Business Memo Example: Company’s Internet Development
TO: Nelly Smith, Marketing Chief
FROM: John Gatsby, Market Research Consultant
DATE: April 25, 2013
SUBJECT: Company’s Internet Development
Company’s market analysis showed that the methods of clothing sales need to be changed according to market demand. Data from surveys lead us to conclude that we need to modernize our selling methods to correspond to latest technological solutions. According to market research groups’ information, our target customers (young people) are no longer interested in purchasing new clothes in shops. The latest trends have made it apparent that target customers use Internet as a place to buy clothes. Therefore, if Multtery Ltd. wants to continue its dominance in the clothing market, it needs to take special measures.
Multtery Ltd. needs to focus its efforts on the development of a company web site. Marketing research data shows that 60% of our target clients are shopping for clothing online. The following contains information about biggest seller of clothes via Internet:
– Sammy Dress
– Forever 21
It is very important for the Multtery Ltd company web site to support new methods of e-payments via credit cards and PayPal, as these are the main ways of receiving money online. Also, our market analysis and research showed that young adults focus their attention only on attractive web site designs, convenience of browsing, and a simple way of ordering. Consequently, our team will focus attention on constructing a more attractive site.
Multtery Company needs to promote its website on Internet sources that are popular among the youth. As our findings from focus groups indicate, 97% of our target clients are spending six or more hours on Internet per week. Consequently, we should place our internet advertizing on such popular sites as:
Fractional removal of our advertising campaigns from TV, radio, and magazines to these web sites will increase our sales significantly. Young people, as well as older ones, are spending time on Internet, and less time looking at magazines, or listening to the radio. Our company must respond to the latest trends and go on Internet. Moreover, Multtery Company needs to consider hiring new CRM specialists, as existing staff will not manage new marketing strategy in the short-term period.
During last five years, our products were advertised on shows like House MD, Desperate Housewives, Sex and the City. However, as our survey states, young adults prefer reality shows for their entertainment. According to our market research, young people are most interested in such shows as Keeping Up with Kardasians, America’s Next Top Model, Naked and Afraid, Big Brother. In this context, Multtery Ltd. needs to start its advertising campaign on reality TV shows, and minimize other TV advertising. Such efforts will increase popularity of our brand among young people significantly. Moreover, our company can conclude a deal on clothing one of the stars of a reality show to maximize exposure of our product to target clients.
To sum up, Multtery Ltd. management needs to review its selling and advertising strategy in the short-term period. This need to be done, as sales volumes of the company is decreasing significantly, and the popularity of Multtery brand needs to be supported by an extensive Internet campaign. Therefore, our marketing team proposes to hire additional personnel, and start a new internet program as soon as possible.
Attachments: Marketing Research Results, April- June 2013.