MC4F12 – Introduction to Marketing Assignment Level 4
MC4F12 – Introduction to Marketing Assignment Level 4
11 Pages 2805 Words765 Downloads
This report examines the marketing strategies adopted for collecting and analysing the information. Sasha is one of the leader women’s clothing outlets and has been selling the world’s best products to the clients. The developed strategy for conducting the research to collect the research information has been included in the research process. Business strategies and the growth plan are examined as it helps in accomplishing the business plan. The challenges involved with the product and the market growth is examined, as it enables the management to examine the challenges involved with the business execution. A detailed marketing mix is conducted to find how the business process and execution methods can be improved to acquire a posited market share. Thought the marketing mix, the relevant changes to be introduced for increasing the business performances, and the challenges involved with the business development are examined (Ailawadi, 2001).
1. Research on The Secondary Data
Overview of the UK women’s clothing marketing
The retail industry for women’s apparel is strongly growing in the UK. Demand for high quality women apparel has increased, due to the existence of different companies in the industry. This industry has been positively improved, due to an increase in the purchasing power of the buyers. The companies have adopted IT process for improving the sales for the women clothes through the online method. This trend has rapidly increased in last 5 years. Global recession had affected the purchasing power of the clients, and this encouraged the companies to adopt new methods for attracting the clients. The customers in the UK market have a preference for lower priced products, with better quality. The UK market is known as the fashion hub, with higher number of fashionable product buyers. Demand for the high quality fashionable products has increased, due to the price effectiveness statutes adopted by the retails stores.
Market growth for the retail stores
Sasha is one the leading women retail stores located in the UK. The objective of the company is analysing the challenge with the retailer’s targeted marker. This would help in competing with the tough market condition that prevailed in the industry. The UK market is known to be the premium lifestyle market that sells the best clothes and accessories to the clients.
The market for the clothes and the accessories has shown an upward trend. This percentage is expected to increase further, due to an increase in the demand for the products and services. The level of competition and the demand for the different products are also expected to increase in the future. There are different types of retail stores that operates or functions to cater the needs of the clients. Sasha has to compete against these retail stores and offer the clients and the potential customers with the best service options. This requires the management to adopt a retail format that includes a mixture of services offered and mechanise process. These processes are integrated with the pricing policies, which helps in attracting and retaining the clients (De Wulf et al.,2005).
The company has proposed to launch wide range of fashionable clothes to the clients at an affordable price. This step is also required to deal with the present level of competition existing in the market. The specific areas of the market growth identified by the company are –
Competition– The level of competition in the fashion industry in the UK is quite high. This number has further increased due to the presence of the online retails stores like Amazon. The competitors have a wide range of products to be offered to the clients, and this has affected the sales for the management. To improve the sales, and to retain the market share, the management has to analyse the needs of the clients and offer the better services to the customers.
Wide range of products– Wide range of product options would be offered to the female customers. The products are designed for the clients of different age groups and with exclusive preferences. Sasha has proposed to launch its own fashion line which will handle the requirements of the clients with exclusive requirements.
Pricing policies- The company has adopted competitive pricing method, which would help in retaining the clients. Through this pricing method, the company has proposed to deal with the competition and offer the better services to the clients.
Customer satisfaction– The services to be provided to the clients would be online and offline. Both the methods are quite essential as the management can share the relevant product elated details (Collins-Dodd C., Lindley, 2005).
To improve the market opportunity and to gain the maximum market level, the company has introduced competitive pricing method. The promotional methods adopted by the management are meant to share the relevant business related information with the clients. Products would go through the quality check as it would help the management to retain the best part of the market.
2. Consumer segments driving the company
The UK clothing and accessories retail sectors are one of the competitive markets of the world. Customers are educated and aware of the brands sold in the market. Majority of the buyers are digital savvy, and this requires the members to collect maximum product related information from the company. The presence of the online retail stores has changed the outlook of the industry altogether. Different retail stores in the UK market promotes for a creative, dynamic, and influential independent fashion retail stores. This has changed the experience of the members and has increased the expectations of the potential buyers from different parts of the country.
The business opportunities available for the retailers like Sasha are quite high. However, it is relevant for the company to adopt innovate strategy that would help in developing and introducing new measures for promoting the brand value. This retail stores has to offer wide range of unique process that would value the money of the customers. Such a policy would promote the company and the product sold to the clients. For approaching the customers from the potential markets in the UK it is reliant for analysing the market segments. This would help in examining the needs of the customers and enable the management to sell the better quality products to the buyers (Du, Lee, Staelin, 2005).
Through such analysis the management of Sasha design new methods for approaching the customers to sell the products. In the social-demographic factors, the company examines the product value and compare it with the product expectations of the clients of different age group.
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Sasha has conducted the below mentioned analysis –
Age group –
Wide range of unique fashionable products would be sold to the female customers between the age group of 15-55 years. Female buyers in the UK are quite fashion conscious, and this requires the management to sell unique product line to the customers. Fashion apparels would be redesigned and new patterns would be selected for increasing the business operations.
The fashion products are designed for the customers from different cultural backgrounds. While designing the products, the expectations of the female customers are examined, as it helps in approaching the clients and enable the management to increase the sales.
The products sold by the company would be affordable to the clients of different age groups. This is the major reason that would be concentrated by the company. While promoting the services, the management would be used for examining the challenges and product preferences of the clients (Levy, Weitz, 2001).
Through the psychographic analysis, the management of Sasha conducts a detailed analysis on the preferences of the customers from different segments. The groups are segmented to find the direct impact related to the product sales and the promotional activities. In these prices, the management conducts an analysis on the people, lifestyle, and product preferences. These are the important factors that enable the management to conduct a detailed analysis about the product preferences that would be used for increasing the sales.
Lifestyles– The lifestyle of the majority of the female customers in the UK are moderate. This has encouraged the company to adopt new range of products for increasing the sales of the fashionable products to the clients. The products and its quality are improved to cope with the lifestyle of the buyers.
Values– New product lines are introduced in the market, to handle the changing needs of the clients. These changes are introduced to approach the clients and to sell higher number of products to the buyers.
Sasha has analysed the psychographic analysis, which helped in analysing the changing preferences of the clients. This helped the management to design new process that would be used for marketing the products sold to the clients (Rosa, 2006).
The buying pattern and preferences of the clients usually changes, and this is due to the presence of larger number of retail stores in the industry. Customer behaviour aspects depend upon various aspects as this would impact the sales targeted by the company. To cope with such challenges, it is relent for the management to closely analyse the changing market condition and implement new changes that would be used for increasing the sales. Behavioural variables include examining the expectations of the clients, pricing techniques, and the product quality.
3. Detailed marketing mix
With the help of the detailed marketing strategies and policies, the management develops and introduces new policies for approaching the potential female customers and increase sales. The segmentation for the marketing mix are based on the below mentioned points-
Product description– Sasha has proposed to launch wide range of new product line for the female customers of the stores. This would also include upgrading the existing produces as the preferences of the clients constantly changes. For analysing the changing preferences of the customers, the management conducts a detailed analysis about the buying pattern of the clients. The table below states the importance of the market analysis conducted to understand the buying pattern of the customers. As per the table, an upward trend in the product purchases has been seen in the UK market. The UK market for fashionable clothes is quite high. To deal with such requirements the management has to develop new policies and measures that would be used for increasing the sales. Products would include fashionable clothes, skirts, tops, party wears, and others. These products have a high demand from the customers of different age groups (, Srinivasan, 2004).
Brand image– Brand image represents the business objectives and goals of the company. Business objective of Sasha is to offer wide range of products to the clients, at a competitive price. This process also needs the company to examine the quality of the product. For building the brand value, the company has launched online promotional and sales activities. Through this method, the management has planned to approach the female customers from different markets in the UK. This method as compared to the other promotional activities is quite effective and feasible. It gets the company connected with different buyers, by sharing the relevant product related information. As compared to the other countries, the online buyers in the UK market are quite high. The company has set up high standards for bulling the brand value, and this is expected to help in improving the sales for the products.
Pricing objectives strategy– The Company has adopted a competitive pricing method. Through this method, the management plans to offer the better services to the clients at an affordable price. This is the most effective and reliable method for making sales and to retain the clients in the market. The pricing strategies would be standardised and followed for the customers from different markets in the UK market. This method is expected to improve the performances of the company and enable the management to increase the sales. The pricing strategy for the company is the most important factor, as it enables the management to get connected with the potential buyers. Sasha has to compete with the tough competitors in the market, and this requires an effective ling term planning process. In the pricing strategies, the management aims to recover the costs of investments and plan to provide the best possible services to the clients (Morchett et al., 2006).
Retailing and distribution objectives and strategies –The products would be procured from the suppliers at a standardised price. Sasha also has in-house designers who work on designing new products for the clients. The products are designed once in every 15 days. This is done to offer the clients with the better services and product options. Through such a strategy, the management plans to upgrade the service quality and retain maximum number of clients. The company has adopted a direct retailing method, where the products would be sold to the clients from the stores and through the online method. Business strategies are to increase the sales, by approaching the customers of different age groups. By planning the product sales, the management examines the changing buying pattern of the clients. This helps in sustaining the market and allows the company to offer the better services to the buyers.
Integrated marketing communications– Marketing communication is being designed to communicate with maxim number of buyers from different markets. Through a positive and effective communication method, the management expects to minimise the redundancy that impacts the sales process. The sales for the products would be improved by sharing the relevant information about the products with the buyers. The company has created an official website that would be used as the best medium for communicating with the buyers. Through this method, the managers share the ideas about the new product line and enable the company to develop new products that would improve the economic performances. The strategies to be followed by the management in integrated marketing communication are to share the information and encourage the clients to indulge into the product purchasing practice (Fiocca R., Sebastiani, 2010).
Business developmental plans and strategies are quite important as it helps in developing and introducing new measures for appraising the clients. IT helps in increasing the sales and the product value required for the company. By developing a positive attitude the management design new methods that are being used for increasing the sales. The strategies developed by the management include analysing the issues faced while examining the marketing strategies and process to be followed for increasing the business activities. Through the developed measures and strategies, it is possible for the management to introduce new measures that would be used for increasing the sales.
Ailawadi K.L., (2001). “The retail power-performance conundrum: what have we learned?”, Journal of Retailing, vol. 77, n 3
Ailawadi K.L., Pauwels K, Steenkamp E.M., (2008). “Private Label use and store loyalty”, Journal of Marketing, vol. 72
Collins-Dodd C., Lindley T., (2003). “Store brands and retail differentiation: the influence of store image and store brand attitude on store own brand perceptions”, Journal of Retailing and Consumer Services, vol. 10.
De Wulf K., Odekerken-Schroder G., Goedertier F., Van Ossel G., (2005) "Consumer perceptions of store brands versus national brands", Journal of Consumer Marketing, Vol. 22 Iss: 4
Du R., Lee E., Staelin S., (2005). “Bridge, Focus, Attack or Stimulate: retail category management strategies with a store brand”, Quantitative Marketing and Economics
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