Brand Extension Marketing Plan Research Paper Example | Topics and Well Written Essays - 500 words - 1

Brand Extension Marketing Plan - Research Paper Example The brand extension project aims to secure opportunities in the current market before our competitors identify them. By the end of the first Quarter, Clean-So aims to increase its market share by 40%. This is a stiff rate considering the competitive state of the current market. In order to achieve a successful market takeover, Clean-So will introduce a loyalty program whereby customers will earn redeemable royalty point for every purchase. This will enable Clean-So to penetrate the already saturated market. Although Al-Mara is an established brand name, Clean-So Company will need to re-advertise its Al-Mara Creme and Soap. The adverts will mainly target women since Al-Mara is a female-oriented brand. The adverts will be launched through the social media and billboards in order to reach the target group. The Advertisement will be the basis for a strategic customer acquisition program (Stapleton, & Thomas, 1998). Alternative customer acquisition strategies will involve loyalty points program and free samples. We expect an exponential market growth rate that attains stability in the second quarter. Clean-So Company is three-years old in the cosmetic industry and, therefore it is accustomed with market trends and changes. The company aims to concentrate its interests in a profitable market niche. Demographic factors and social classes define the current market. However, Clean-So hopes to surpass the demographic and lifestyle factors associated with the market. In particular, the company aims to market its products to people from different age groups and income brackets. The target market (Lavington Green Village) has consumers from each of the identified category. Therefore, the company will rely on packaging and product differentiation to capture the target market. Moreover, the company aims to launch Al-Mara soap and cream under various fragrances and colors. This aspect of product presentation will cater for the taste and preferences of the target