MARKETING PLAN OF CRAFTY SOCKS 
 Introduction
Crafty Socks is a UK-based organization that wants to launch a new product in an
international market. It has small but skillful staff who can accurately perform their works.
This company has also kept some high-end machines. The company plans to launch
premium-positioned socks that will retail at around the equivalent of £20 per pair. For new
business-owners, socks often appear to be a successful starting product. Socks like tees &
phone boxes can be conveniently put on a niche market. Think of it - everybody is wearing
socks. It is quick to find a niche corner of the marketplace to sell with too many aesthetics,
functions, and demographics[ CITATION Sho20 \l 16393 ]. Socks for safety are used by men,
women, children, and even babies. Athletics and sportspeople also wear special socks. Socks
also protect clothes for their employees in many production processes. Socks come in general
with a wide range of patterns, styles, colors, and measurements. The cotton wool, acrylic and
polyester yarn, nylon yarns in differing sizes, consistency, and shades are used to make socks
of various styles and designs. This paper presents a marketing plan of Crafty Socks that
consists of market analysis of Australia, Segmentation, targeting and positioning of the brand,
and marketing mix. It also discusses the monitoring and controlling the plan and some
proposed risks. The significance of strategic marketing planning for the organization and
ethical considerations in planning also discuss.
Market Analysis for the Country
A country that selects for Crafty Socks’ business in Australia. A quantitative and
qualitative evaluation of a market is market research. It explores the industry’s scale, different
market types, and customer purchasing trends, competition, and the economic climate.
Successful business research can support obtain useful understandings into growths in the
economy, rivals, current marketplace patterns, dynamics, and consumer buying
Marketing Plan 3
features[ CITATION Var15 \l 16393 ]. Market forecasting is the key constituents of serving
companies to make clever business decisions with all the necessary information. The macro
and micro factors that may influence the Crafty Socks sector in the Australian market are
calculated as follows:
Macro-environment Analysis
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