Ann Taylor Loft Outlet Marketing PlanShannon Colon

Marketing Management September 4, 2015

Executive SummaryThis five-year marketing plan for Ann Taylor Loft Outlet

of Vero Beach has been created by the employees of Loft Outlet in Vero Beach to ensure the future growth of

this store, and enhancement of its clientele and product. Although this low volume store has only been

in the Vero Beach Fashion Outlets for less than five years, the amount of sales received, and overall client

compliments of this particular store have shown us that consumers would rather shop at Loft Outlet stores as opposed to Ann Taylor Factory. This is due to better

prices and atmosphere. As a result, store 3012 of Vero Beach would like to

extend its current locations size as well as its staff to ensure the clientele is getting exactly what they

deserve, and give us a chance to prove that we can be more than a low volume store. In addition, the store

would like to explore opportunities in online sales. The target market suggests that sales would increase if the clientele had online opportunities. Working in this store personally, I can attest how often people ask if we have

an online store. Over the next five years, Ann Taylor Loft Outlet of Vero Beach can increase its distribution,

staff, sales, and offer a better experience to its clients.

Strength. Fashion. Style. Passion. In 1954 Richard Liebeskin opened his first shop, Ann Taylor. In 1999, Kay

Krill launched Loft as the little sister brand of up-market chain Ann Taylor. Today she is CEO of parent company Ann Inc., and LOFT is a billion-dollar business. (ANN INC.) By 1983 Ann Taylor had grown from a regional brand to a national brand with 47

stores across the United States. Loft Outlet was founded in 1998 and today has over 650 full-price and

outlet stores in Canada, Mexico, and 46+ stores in the United States.

(ANN INC) With modern, feminine, effortless, versatile pieces, woman from all over, of all ages will all find

something they love.

COMPANY DESCRIPTION

COMPANY DESCRIPTIONAnn Taylor Loft Outlet reflects what being a

woman is about. Feeling sexy, confident, and trendy. The company’s petite section, and missy section helps us to pertain to all women. Curvy

fit, modern fit, original fit, we have it all. Whether you are 5’2 or 5’9, curvy, or straight, blonde, or brunette, Loft Outlet will build an

outfit that reflects her as the strong, beautiful, hardworking woman that she is. From basic tees, vests, denim, trousers, to blouses, jewelry, and more we have something for everyone. If she is shopping for a wedding or an interview or just a

night out with the girls. Loft Outlet sells the hottest trends, and we have an incredible staff to

help. She will get a lasting relationship with a trusted in-store stylist who will dress her head-

to-toe and make sure she leaves with a smile on her face and bags in her hands.(ANN INC)

COMPANY DESCRIPTIONLoft Outlet in Vero Beach is currently inhabiting a narrow, low volume store, but producing better

metrics than the higher volume stores in Orlando. The high quality location, the unique connections we

will build our clients, and the trendy colors and clothes have allowed us to make the numbers we do. Our traffic is higher and our numbers are larger. Most Outlets are given wide stores in places that get the most traffic. I think our store was underestimated.

Our Outlet is one of the most well-known locations on the Treasure Coast. Traffic has increased a substantial amount in the last year alone, and Loft Outlet of Vero Beach is working to expand to an even bigger store

with more opportunities to grow and sell.If given the opportunity to expand our store I believe we could be a large volume store and product over

1.6 million dollars in a year. This plan will outline how Ann Taylor Loft Outlet in Vero Beach intends to

introduce an incredible staff, enter new markets, and make the Vero Beach Fashion Outlet’s as well-known as Ann Taylor as a company, more money than they

thought we ever could.

MISSION AND GOALSAnn Taylor Loft Outlets mission is to “inspire and connect with our clients to put their best selves

forward every day”.(ANN INC) Ann Taylor wants to make women look and feel great when they're in our clothing. Its all about giving your honest opinions, making genuine connections, and loving what you

do. “It means forging strong partnerships with suppliers so that products are made ethically.”(ANN

INC) We meet her needs and that’s what running a company is

all about, the client.

MISSON AND GOALSDuring the next five years, Ann Taylor Loft Outlet of Vero Beach seeks to achieve the following financial

and nonfinancial goals:Financial goals:

• Obtain over 1.6 million dollars in order to expand the size of the building we are in and become a

high volume store• Increase our sales and credit goals in order to show

our district we are capable of being a high volume store

Nonfinancial goals:• Introduce an online store as an option to clients,

while maintain strong relationships with our consumers

• Increase the size of our staff, with that get an increase in the hours we are given to ensure each

client is getting the journey she deserves while shopping with us

CORE COMPETENCIES

Loft Outlet of Vero Beach seeks to use its core competencies to achieve a sustainable

competitive advantage, in which competitors cannot provide the same

experience, product, or connection we give to our clients. (p. A-8) Already we have core competences in (1) offering a genuine, life-

long relationship with our clients; (2) developing a reputation among our outlet and our clients as one of the best stores to

shop at due to our atmosphere and inspiring staff; and (3) creating a product that is so versatile our clients range from

twelve years old to one-hundred years old. By forming long lasting and strong

relationships with our consumers there is no doubt in my mind our company can

easily, if given the proper space needed, surpass the goals given and then some.

SITUATION ANALYSIS

The marketing environment represents

several opportunities, but also some challenges for

our store. The figure below illustrates a SWOT analysis of the company.

This will highlight our stores strengths,

weaknesses, opportunities, and threats.

(p A-9)

Strengths Weaknesses Opportunities Threats Ann Taylor Loft

Outlet of Vero Beach has a dedicated staff who understand the product they’re selling and the clients they are serving

Quick acceptance of online stores

Great potential for growth in our location

Room for expansion

A great team with the passion for growing

A passionate mission and understanding of how to run a business

Ann Taylor Loft Outlet has down seasons when our traffic is at a minimum as well as our sales

A limited amount of payroll

Lack of sources online

Ann Taylor Loft Outlet of Vero Beach is likely to have consumers who will purchase product from online sources

With more space we will be able to occupy more clients and all of the full price collection

Large competitors in the outlet such as Banana Republic and Gap

Visits dropping when we are out of season

COMPETITORSAscena clothing companies sell over $48 billion dollars’ worth of product annually. Our competitors range from stores like Banana Republic, Gap, Chico’s, White House

Black Market, and Tommy Hilfiger which offer similar product and customer service. Being that we have so many competitors we strive to go above and beyond every day we walk through our doors. Our outlook is

positive for several reasons. First, we are voted, every year since we opened, the store that is most pleasant to

shop at. Clients love our atmosphere and our client engagement. Second, we have a product unlike most.

Specific style fits, and people who will build you an entire closet if you asked them to. Third, clients are looking for ways to have a variety of outfits without overspending, and we offer product at a reasonable

price. While all companies above are considered

competitors, most of them cannot compare to our style fits, prices, and client engagement. We have specific fits

that people can only get inside our store. This is as opposed to if you walk into Gap or Banana Republic if

you aren’t slim and straight up and down you will have a hard time finding jeans or trousers that will fit you. Finally, Loft Outlet Store 3012 offers moderate prices, and versatile product that can be dressed up for work and down for play. For instance, in our store you can buy a pair of denim for $9.88 if you look in the right

places. This denim comes in curvy or a modern fit. This denim can be dressed up with a blazer and a blouse or

dressed down with a knit tee-shirt and a necklace.

THE TARGET MARKETThe target market for Loft Outlet store 3012 is an

everyday woman from 18 to 50 years old—women who have an active life, like to stay

trendy, comfortable, and confident. They may not be experts in fashion, but they enjoy looking and feeling beautiful and getting help along the

way. These clients represent the mom on the go,

teachers, college students, and preteens. Vero Beach is one of the wealthiest cities in the

Treasure Coast. Household incomes range from $60,000 to over $150,000. Even with this

comfortable incomes, everyone is always looking for the best deal. At our store you will get a great

deal and so much more. Regardless of age, income, or looks, they are all there doing the same thing—looking to get a great deal, cute

clothes, helpful tips, and a store they can trust. Currently Loft Outlet customers live all over the United States, Mexico, and Canada. However, in the future we are hoping for an online store to be

able to target even more people.

THE MARKETING MIXThe following discussion outlines some of the

details of the prosed marking mix for Loft Outlet products.

PRODUCT STRATEGYLoft Outlet currently offers a line of high-quality,

trendy, product. This includes knit tee-shirts, woven blouses, trousers and denim in different

fits, jackets, vests, jewelry, and a range of different accessories from shoes to scarves. Our colors are always in season and best sellers are

in our store year round. Ann Taylor as a corporate office supplies Loft Outlet with the product it

needs and sells bests. If our store expands the size of its location we will have the space to

house more product. Being that we are a narrow store we don’t always get everything we are

supposed to for each season. With more space we would be able to get more product which

means more sales. The new items include items such as boots and coats. We could also have the opportunity to sell the LOFT shirts we normally only get for winter and a very limited selection.

In addition, all product would have the chance to be sold, right now, we aren’t being given the

chance due to insufficient space.

THE MARKETING MIXDISTRIBUTION STRATEGY

Loft Outlet is marketed all over the United States, Mexico, and Canada. However, we are

limited by not having an online store, and having a small staff to maintain all the traffic

we get annually. In today’s society a majority of things are located online and trending through social media. Without an online store for outlet

stores we are missing millions of dollars in opportunities. By setting up a Loft Outlet online store we would have the chance to

expand our company and its profits. This will give clients special offers in store and online.

Sometimes the internet is more profitable than actual stores.

Without the proper number of employees our clients are not getting the best experience when in our store on the weekends, and

throughout holidays. With a stronger staff we would have more opportunities to upsell and build relationships with local clients and snow birds. With that they would bring in even more clients growing our company and expanding

our clientele.

THE MARKETING MIXPROMOTION STRATEGY

Ann Taylor Loft Outlet communicates with clients about its product in a variety of ways. (p. A-11) Information about Ann Taylor as a company and its product is available

via the internet, through mailing, and in person. This company’s promotional efforts are persistent and are in a

more advanced level than its competitors. Most companies promote through in-store

promotion. Loft Outlet has mailers sent out specifically to clients. It encourages them to bring in friends and family.

With that we receive even more clients. We also have information on fits, and product online. Online information brings in clients you wouldn’t expect. For instance I’ve had

several clients come in specifically to shop our petites section. Without the information of our store online they

would have never known we had a petite section. Sales promotions and public relations currently

make up the promotional strategy. Ann Taylor is a very well-known name, but Loft Outlet is now coming into its prime. We need to take advantage of our trendy product and get

our name out there in order to bring in the amount of traffic we deserve and can handle and sell to.

During the next year, the company plans to engage in the following marketing efforts:

• Create a local social media site where specials and events can be posted in order to increase our traffic

during holidays • Attend local fashion walks where we can promote our

store and items • Hold in-store contest to see how many friends and

family members employees can bring in during big holidays

THE MARKETING MIXAnn Taylor prices their product with clients and competition in mind. Ann

Taylor is priced appropriately according to each brand. Moderate pricing is in place so customers feel comfortable purchasing items they

need without going home, and having guilt for what they purchased. Being

that we are an outlet we have something for any amount in your

pocket. If you need a quick birthday, graduation, wedding, or “just

because” gift you can get it at our store. Need stocking stuffers for the

holidays? We have those too, starting at $1.88! Good quality and great

prices.

BUDGET, SCHEDULE, AND MONITIORING

Though Loft Outlet of Vero Beach has only been open for a short five years, we have enjoyed a steady

increase in sales and visits. Side by side with our sister store Ann Taylor

Factory you can see who is winning this race.

Below you can see sales and visits over the last year have increased heavily

and surpass our sister store. With these numbers to prove, you can see Loft Outlet has nowhere to go but up. Our performance is monitored on a

daily, weekly, and monthly basis. We are very strict about our goals and very competitive when it comes to

meeting those goals. Loft Outlet August 2014 Loft Outlet August 2015 Ann Taylor August 2014 Ann Taylor August 20150

20,000

40,000

60,000

80,000

100,000

120,000

Sales Visits

CONCLUSIONLoft Outlet of Vero Beach

plans on continuing to grow and produce the best results we possibly can. If given the chance, I know our store can become a 1.6 million dollar

store. We have the traffic, we just need the space to house the product needed to make

those sales. If given the space, the online store, and

the payroll we could be a super store in our district.

REFERENCESANN INC. (n.d.). Retrieved September 2, 2015.

Ann Taylor. (n.d.). Retrieved September 3, 2015.

BRANDS BY CATEGORY. (n.d.). Retrieved September 6, 2015.

Kurtz, D., & Boone. (n.d.). Marketing Management MAR3023 (16th ed.). Vero beach, Florida: Cengage Learning.

LOFT. (n.d.). Retrieved September 5, 2015.