We Need Marketing Ideas
Marketing a Men's Clothing Retail Business
Small and medium size men's clothing retail businesses can compete and even outperform larger competitors. All it takes is the right marketing plan.
In a men's clothing retail business, exceptional product quality is only part of the struggle to meet revenue goals.
In general, good business owners make good marketers. However, the most visible brands are always on the lookout for the strategies that other men's clothing retail businesses have used to achieve success.
Marketing Expertise
Don't have a background in marketing? That shouldn't stop you from taking a larger promotional role in your company by educating yourself about today's most effective marketing concepts. Entrepreneurs and leaders of men's clothing retail businesses can't afford to invest large sums of money in untested strategies or first-time marketers. When in doubt, tap into either an internal or external knowledge base to design your company's marketing strategy.
Loss Leaders
The majority of men's clothing retail businesses are willing to sustain a slight loss or breakeven position on certain products and service offerings as a way to attract customers. Although you may lose money on one product, you can make up for it buy selling a higher volume of other products. The key is to know your profit margins and use loss leader pricing to undercut the competition in targeted product categories. For men's clothing retail businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
Managing Negative Publicity
A certain amount of negative publicity is a given for most men's clothing retail businesses. Bad situation inevitably get worse when companies haven't prepared for the possibility of a negative news cycle. The creation of a quality, crisis PR plan and the adequate preparation of key stakeholders is a requirement for any men's clothing retail business interested in controlling negative messages. Mailing list providers can also provide quick access to accurate mailing lists, an important consideration if your crisis response plan contains a direct mail component.
Share this article
Additional Resources for Entrepreneurs