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Strategic Marketing Plan Pier 1 Imports

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Submitted By spettus7593
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Strategic Marketing Plan

Executive Summary

Product Description/Objective
This candle holder is a bottle neck pillar candle holder offered by Pier 1 Imports. The candle accessory is decorated in abstract design in neutral colors. Pier 1 Imports searches out artisans throughout the world to help them find and develop and develop fashion trends designed specifically for their customers. Target Audience
The primary customers are those who enjoy decorating their home with a desire for distinct décor and good value. The target market for this product from Pier 1 Imports is women ages 25-34. These consumers are combining purchased goods, such as this pillar candle holder with their own home décor ideas to complete the look of their home. These consumers are generally either impulse buyers or they are purchasing under limited decision making, where they have done a surface research of different candle holders that have piqued their interest.

Competition
Current competitors for Pier 1 Imports include box retail stores such as Walmart and Target, large retail stores such as Bed, Bath & Beyond and IKEA and specialty stores such as Yankee and Crate & Barrel. Pier 1 Imports is positioned to handle competition through at least two forms of sustainable competitive advantages. First, Pier 1 Imports has built the brand and made a very good brand for themselves. Pier 1 Imports is iconic with home décor and is pretty much a household name. Many households in America, have at least one product in them from Pier 1, whether purchased or gifted, the product is an American household name. Candle holders similar to the one offered by Pier 1 can be purchased at many popular retail stores such as Target or Walmart or more high end stores such as Home Goods or Crate & Barrel or specialty stores such as Yankee or Michaels, however because Pier 1 has set a

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