Wednesday, October 8, 2014

MKT 6100 Final - A presentation on Gobi Cashmere Company with John Edgar Mihelic & Uguumur Tsogtbaatar

Executive Summary: Gobi Cashmere Marketing Plan
Presented by
John Edgar Mihelic & Uguumur Tsogtbaatar

Slideshow Available At This Link

  • ·         The objective is the open a store as a Chicago-based wedge in bringing Gobi to the US market. There are twenty outlets worldwide, including one already in the DC area, but for now the company’s main base of sales is in European market. The DC sales have been disappointing.

  • ·         Gobi has some potential advantages because the wool from the goats Gobi owns produces is the best in the world. That means the wool is thin and long and traps air more efficiently than any other legal natural fiber. It is smooth and silky.

  • ·         The Brand mantra is: Warm Elegance from the Home of Cashmere. We want to sell both the quality of the cashmere and the country of Mongolia itself.

  • ·         The vertical integration of the company allows strict quality control of the product throughout the process, from goat to coat.

  • ·         “Cashmere” itself denotes quality, which is key to Gobi’s selling point. However, there is a wide range of competing products. At the low end you can find “Cashmere” labeled wool goods at mass marketers such as Target for less than $100. At the higher end, you can find brand named goods in the five figures.

  • ·         Our positioning is to be an affordable luxury. Gobi is priced competitively with local department store’s cashmere, but is of higher quality. The quality can be compared to those much more expensive goods. 

  • ·         Gobi is a relatively unknown brand in the US, so we have to establish it in multiple ways. First is a more guerilla strategy, where we will get samples of the product in front of influential fashion bloggers we have identified in the area. The second way we will establish the brand is to utilize more traditional media channels such as print, radio, and television.

  • ·         We will start marketing in the summer to try to generate buzz about the brand by utilizing our bloggers and social media presence. As the weather gets cooler, we will advertise with more traditional channels such as print and radio. The idea is to create the buzz about Gobi and then present it in ways that are more traditional so that we saturate potentialities right as the store opens. The store opening should coincide with the first thoughts of cool weather, and the need for potential customers to experience warm elegance from the home of cashmere.