You are to assume the role of the marketing manager for Gold Mine, a chain of consignment stores that sell gently used, name-brand clothing for teenagers and young adults. The owner of the chain wants you to develop a plan to promote the stores’ new venture into formalwear and its need for merchandise.
Gold Mine sells gently worn merchandise that the consignment retailer purchases from customers. Customers bring in their previously worn apparel and staff determines the quality, the brand relevance and if the style is on trend. Gold Mine then offers the customers a price to purchase the apparel or a credit the customer can use at the store.
The owner is excited to announce that in fall 2024, Gold Mine will begin offering previously owned formal dresses. Gold Mine has not accepted formal dresses for consignment in the past but the owner noticed that more and more formal wear is being sold on second-hand and resale websites. To have plenty of formal dresses to begin selling for the 2024 homecoming season, Gold Mine needs customers to bring in their previously worn formal dresses for consignment.
The owner wants you to develop a plan to promote Gold Mine’s new venture into formal dresses and its need for dresses. You must decide which elements of the promotional mix are most beneficial, the best form of advertising to reach the target market and how to use the plan in marketing.
