MGT726 Managerial Project Assessment 2: ustomer value and appropriate promotional strategies in men’s wedding wear at Cooper Brothers (CB).

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Executive Summary The men’s wedding wear segment of the clothing and apparel market in Australia presents a significant opportunity for increased market penetration and growth by Cooper Brothers, ... a recent entrant to the Australian men’s fashion and clothing industry. The steady growth of its first store over the past year has been supported by the growth of its tailor-made wedding apparel for grooms and groomsmen. This opportunity, however, remains somewhat obscured by the shadow of its much more visible and emotionally charged big sister in the bridal wear and fashion industry. This interim progress report details the plans, frameworks and methodologies that will be researched, substantiated and implemented to capitalise on this opportunity. Through research design, it will provide meaningful insight and understanding of this opportunity through structured data collection and analysis of the driving forces within it. The final report will draw on this research and develop a cost efficient and targeted strategyto grow Cooper Brothers share of this billion-dollar segment and their subsequent share within the fashion and apparel industry. Introduction 1.1 Purpose This progress report explores customer value and appropriate promotional strategies in men’s wedding wear and examines how Cooper Brothers (CB), a men’s fashion retailer can most effectively communicate with and penetrate this market segment and grow market share. Includes a literature review and methodology for the research. 1.2 Background and significance Cooper Brothers is a boutique men’s tailored clothing, grooming and fashion accessories outfitter looking to expand. CB has an online store and one physical store with five staff located in a busy prestigious shopping centre, servicing Sydney’s north-western suburbs. In the last year, Cooper Brothers have seen strong growth in their tailor-made men’s wedding wear. While the business has a social media presence including YouTube, Facebook and Instagram much of this bridal wear business appear to be referral based. A range of advertising and promotional options are available to promote their men’s wedding wear however given recent significant store investment the budget for such is limited. This is a high-value segment of the men’s apparel industry and understanding the size of the opportunity in addition to the drivers that shape and influence its decision makers will be important to maximising the benefits of their promotional spend and growing market share. 1.3 Research question and objectives The research question to be answered to meet the project’s objective is: “What forms of promotional activity are most effective in attracting and influencing men’s wedding wear consumers?” Four research objectives will guide the development of answers to these questions, these are to: 1. RO1: Identify the forms of advertising and promotion that have the greatest success in attracting the men’s wedding wear market.5 2. RO3: Identify the primary decision makers in choosing a men’s wedding wear provider and what influence they have 3. RO4: Determine through what means men’s wedding wear consumers currently find the business. 4. RO4: Investigate how promotional activity can be most effectively designed and implemented to reach this target market References EISEND, M. 2017. Meta-Analysis in Advertising Research. Journal of Advertising, 46, 21-35. EISEND, M. & TARRAHI, F. 2016. The Effectiveness of Advertising: A Meta-Meta-Analysis of Advertising Inputs and Outcomes. Journal of Advertising, 45, 519-531. HARTNETT, N., KENNEDY, R., SHARP, B. & GREENACRE, L. 2016. Creative That Sells: How Advertising Execution Affects Sales. Journal of Advertising, 45, 102-112. MCCORMICK, H., CARTWRIGHT, J., PERRY, P., BARNES, L., LYNCH, S. & BALL, G. 2014. Fashion retailing – past, present and future. Textile Progress, 46, 227-321. MICHAELIDOU, N. & DIBB, S. 2006. Product involvement: an application in clothing. Journal of Consumer Behaviour, 5, 442-453. STEVENS, R. E. 2006. The marketing research guide. 2nd ed.. ed. New York: New York : Best Business Books. ZIKMUND, W. G. 2013. Business research methods, Mason, OH, Mason, OH : SouthWestern. [Show More]

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