1. INTRODUCTION
Created in 1979 by David Reiss, Reiss is has developed into a powerful brand offering stylish clothes at affordable prices. 2006 proved to be a successful year for the organization, where it achieved £6.8 million in operating profit and sales of £44.5 million. Currently, it has 39 stores worldwide and is expanding rapidly. The following 3 year strategic marketing plan will demonstrate the steps Reiss need to take in order to become a dominant force in the UK and a strong international brand.
Keys to success:
• E-business development
• International expansion
• Domestic market growth
• Product development
• Brand awareness
• Organization flexibility
2. SITUATION ANALYSIS
2. 1 MACRO ENVIRONMENT
• ECONOMIC
o In order to tackle interest rates, The Bank of England has increased interest rates to 5.25%, which will subsequently decrease consumer expenditure.
o The recent rise of inflation to 3% has made it more expensive and left less disposable income for consumers.
o The key Consumer Price Index to a decade high of 2.7%.
o Although, unemployment decreased by 7,000 from August to October, leaving it to 5.5% in the UK
o General consumer expenditure (GMID 2006) has increased to £742,977,000,000, which can be demonstrated in figure 1.
• SOCIAL
o The UK populations is ageing
o The birth rate is declining.
2.2 MARKET ANALYSIS