Name: Sophia Kafui Teye (PUCGS140091)
Course: Strategic Management
Lecturer: Prof. Capt Sam Addaih
Assignment One
TABLE OF CONTENT
Executive Summary……………………………………………………………………………………..2-4
Company Description……………………………………………………………………………………….5
Corporate Mission, goals and objectives…………………………………………………………….6-7
Situational Analysis……………………………………………………………………………………………8-9
Statement of marketing objectives…………………………………………………………..........10-11
Generation and Selection of Strategy………………………………………………………………..12-13
Marketing mix……………………………………………………………………………………………………..14
Conclusion………………………………………………………………………………………………………….14
Referencing………………………………………………………………………………………………………..14
EXECUTIVE SUMMARY
Funky Clothing Company Limited’s strategic
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They include culture, population size and growth, population age and ethnic mix, lifestyle changes, etc. As a company engaged in sale and distribution of outdoor clothing, most of our target market are skewed towards all age groups. We have unique products for all of these groups, as their educational level increase, their earning capabilities are also high, meaning that, more business for our continuous existence.
Technology helps in new product development and also aids in the improvement of processes in an organization.
Legal factors are connected with the legal environment in which firms operate. Every business must operate within the confines of the law in order to appeal to more customers and avoid legal suits that would lead to fines, charges and penalties. My organization insists on all staff updating their knowledge on industry regulations by the use of regular press release, enforcing compliance requirements, training as well as seminars.
SWOT Analysis is a useful technique for understanding an organization’s Strengths and Weaknesses, and for identifying both the Opportunities and the Threats that the organization might face. It helps organizations to carve a sustainable niche in their market. The components of the SWOT analysis are determined by the operations of the firm, whereas conversely, the components of the PESTEL analysis rather determine the operations of the
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Though its history is short, Funky Clothing has enjoyed a steady increase in sales since its introduction three years ago. Priscilla has an undergraduate degree in marketing and worked for several years in the retail clothing industry. Sophia works as an Investment Banker. Priscilla and Sophia who have been friends since college, decided to develop and market a line of clothing with a unique, yet universal appeal to outdoor enthusiasts.
Funky Clothing Company Limited reflects Priscilla and Sophia’s passion for the outdoors. The company’s original cotton T-shirts, baseball caps, fleece jackets and vests bear logos of different sports—such as kayaking, mountain climbing, bicycling, skating, surfing, and horseback riding. But every item shows off the company’s slogan: “Go Play Outside.” Funky Clothing sells clothing for both men and women, in the hottest colors with the coolest names—such as sunrise pink, sunset red, twilight purple, desert rose, cactus green, ocean blue, mountaintop white, and river rock
What types of strategies do you recommend based on your analysis ? SWOT Analysis is a strategic method that is implemented by a company, in order to determine their Strengths, Weaknesses, Opportunities and Threats regarding a business undertaking. The company defines their objective and determines what the external and internal elements are that can have a positive or negative impact on reaching their goal. The purpose of every SWOT analysis is to recognize what the main internal and external factors are that are vital in attaining the objective of the firm.
P1: Describe customers in four different contexts: A Market: A market is a place where demand and supply operate. Buyers and sellers interact to trade their good and services. (What is a market? , n.d.)
It is a film that explores the future of clothing, consisting of a set of stories about future innovations within the industry. This documentary tackles the question of fashion's future from various angles meeting with businesses and designers who present multiple yet often similar viewpoints on the future of sustainability, technology and mass production. The film answers some of the industry’s major concerns regarding topics like fast fashion, wearable technology, future washing needs and ways of making the clothing industry more sustainable. Pioneers from some of the most innovative companies such as Patagonia (Rick Ridgeway, and Vice President of Environmental Initiatives), Adidas (Matt Hymers, project manager of Team Elite), BioCouture (Suzanne Lee, founder), Studio XO (Nancy Tilbury, co-founder and director), and Yeh Group (Sophie Mather, Innovation Director) voice their opinions on this
Figuring out your target market is a very important first step to figuring out a new marketing strategy for a company. The company my group chose was, Dave and Busters. Dave and Busters is an American-style entertainment center, featuring a restaurant, sports bar, and an arcade. There are many things that influence the demographic of a target market. In this paper I will analyze the target market demographics for our company; Dave and Busters, and explain why these demographics are so important for the financial side of Dave and Busters.
Situation Nanda has designed an innovative alarm clock named Clocky. Clocky has a unique function that it can jump off a nightstand and roll around the room to wake people up, arousing attention and interests of the public. However, Clocky is still a prototype and it was not yet commercially available. Precise marketing positioning, promotion means, distribution channels and pricing are crucial in order to make profit from the sale of Clocky. This report includes the evaluation of the current marketing strategy adopted for Clocky as well as suggestions of marketing segmentation in Hong Kong.
It allows the organization to identify the key areas where the organization is performing at a high level, as well as areas that needed work and efforts to improvise. A SWOT analysis completely focuses on the four crucial elements included in the acronym, allowing companies to identify the different forces influencing a strategy, action or initiative related to the company’s venture.
The activity of LVMH is mainly focused in luxury industry and its spectrum of products is divided into five generic fields: • Wines & Spirits • Fashion & Leather Goods • Perfumes & Cosmetics • Watches & Jewellery • Selective retailing According to the financial report of LVMH as of 2013, below are the revenues generated across the above mentioned fields. It can be observed that the Fashion and leather goods have consistently generated the maximum revenue for LVMH accounting to over 33%. Porters Five Forces Framework Fashion and leather goods have generated the most revenue for LVMH.
When launching a new product or service, a company needs to develop the key group of customers in which they are targeting. There are many steps in identifying the target market; one of these steps is to look at past marketing plans in a company and collect information to produce a customer profile. This profile is important because “it influences the objectives, creation of the communications message and the channels and media mix being selected” (Gbadamosi and others, 2013, p. 275). When this profile is solidified, the appropriate methods to make a successful marketing plan can take action to launch the new product or service. Nordstrom’s Treasure & Bond, is a new clothing line by the leading fashion specialists, targeting 18-30 year
A SWOT analysis is a tool used by organisations to identify its internal strengths and weaknesses, but also the external opportunities and threats. Therefore, this allows the organisation to assess what can be used to aid in achieving their objectives, i.e., strengths and opportunities, as well as aspects that can be improved on or potential problems that can be faced, i.e., weaknesses and threats, as they pursue on achieving business objectives and/or decision making. Explained S.W.O.T. Analysis: a) Strengths Caterpillar Inc. holds a very strong brand image worldwide that directly associates it with high quality products that they provide. In 2014, Caterpillar ranked as the number one brand in heavy equipment followed by a strong competitor,
Their target customers are young people in all kinds of education levels, religions, race and nationality. The occupation of their target customers could be very wide but mainly are sports player and athletics. It is because athletics are more rapidly to use sports products than other people. Their target customers are from different generations: Generation X, Generation Y. Psychographic Their target customers are people who care more about the utility and quality of the product than the price.
Firstly, the Boston Consulting Group (BCG) matrix that concentrate the market position of different products. Secondly, the experience curve and the Profit Impact of Market Strategies model which identified a number of strategic variables. Furthermore, competitive advantages model (Porter, 1985) which focus on five different forces in environment of organization, but suit with only stable market. Generic strategy was developed strategies under this school, especially it can identify position in the market. Advantages: -Provide content in a systematic way to the existing way of looking at strategy -Particularly useful in early stage of strategy development, when date is analyzed -This school emphasis on analysis and calculation can be a very strong support to the strategy development process -This strategy suit with big businesses or organization which have ability for operate effective market research in the environment
The target market of louis Vuitton in divided into two key segments, the wealthy middle aged women from 35 to 54 years old is the first segment while the fashionable young female adults from the age 18 to 34 years old who have income saved to buy one wishes. Average customer of Louis Vuitton are high level & social class people who are into fashion and very conscious as well. High social status is achieved by owning such products from Louis Vuitton. Demographic Segmentation Louis Vuitton has used Demographic segmentation to segment the market.
targets the younger generations with more advanced technologies for examples teenagers .The iPhone, iPod and mac computers are spread worldwide. The company 's target includes almost all sectors of the society. Its targeted consumer is for younger and the older generation, Boys and girls. They have designed the gadgets colours according to it.
Table of Contents 1.0) Executive Summary 3 1.1) Objectives 3 1.2) Mission 3 1.3) Keys to success 3 2.0) Product and Services 4 2.1) Sourcing 5 2.2) Technology 5 3.0) Market Analysis Summary 5 3.1) Market Segmentation 6 3.2) Target Market Segment Strategy 7 3.2.1) Market Trends 7 3.2.2) Market Needs 8 3.2.4) Market growth 8 4.0)
First, from the beginning of the classes I was able to design and implement marketing/business strategies in particular areas only. After that, I am able to create long-term and mutually beneficial exchange relationships between an entity and the publics with it interact. Moreover, the strategic marketing analysis & planning process such as internal & external situation assessment, strategy formulation, positioning and marketing mix were taught during lessons in detail that integrated my marketing knowledge. And as a result I also became aware with a range of new issue of marketing management and the marketing tactics in particular that were resulted from the product and branding strategy. I found strategic marketing analysis and planning of this project more challenging than