Further, the macro environmental factors will also be considered in the paper to understand the significant trend which can impact on the business of the company. Company’s Competitor Geno's Sports Apparel deals in athletic footwear and apparel products and seeks to achieve higher sales and good brand reputation. The athletic footwear and apparel industry is considered as highly competitive as there are several big players in the market where Geno’s Sports Apparel operates. The major competitor of Geno’s Sports Apparel in terms of athletic footwear products is Finish Line which operates in the similar marketing segment. Besides Finish Line, Geno’s Sports Apparel also faces a direct competition from other athletic goods providing organizations such as Payless ShoeSource, Dick’s Sporting Goods among others. The major strengths of Finish Line, one of the biggest competitors is the ability to understand the preferences of customers and act accordingly. Thus, the company offers coupons and discounts to the customers to increase sales. Finish line is much concerned about promoting latest products to the customers. The major weakness of Finish Line has been the number of retail outlets. The number of stores of Finish Line is less which creates difficulty for the company to distribute products effectively. Besides, providing newest products can also cost more and are inefficient in this business environment as many customers can concentrate on saving money and purchasing inexpensive products due to economic downturn (Sweeney, 2009). The other competitors named Payless ShoeSource have good geographic location which provides the company a competitive advantage. Its business is expanded in almost 50 counties within the international market. Payless ShoeSource has great financial strength which helps to spread the business globally. Besides, the sales in women’s shoe category are strong and the company has also strong position in the market of the USA. The major weakness of Payless ShoeSource is higher fixed cost which led to lower profit margin. Furthermore, the company experienced huge amount of loss due to surplus inventory. The business of Payless ShoeSource is highly reliant on third party producers which make the company much vulnerable to survive in the competitive market (Cullin, 2007). Differentiation of Products Differentiation is necessary in order to improve the business and develop a unique brand identity. The main differentiation of Geno’s Sports Apparel with respect to the other competitors is the innovative marketing strategy. Geno’s Sports Apparel will provide tailored retailing programs and develop exclusive store atmosphere which replicates a distinct retailing style than other rivals. The effective enactment of this strategy helps the company to increase the customer base and preserve brand reliability. Geno’s Sports Apparel can also differentiates the brand from closest competitor Finish Line through providing customers with ranges of athletic attires which are designed according to their requirement. The company needs to offer focused collection of sports equipments to the customers which is the other differentiating factor (Sweeney, 2009). Through the advanced marketing communication strategies, such as implementing good customer service model, Geno’
Enhancing the Marketing Plan Introduction An effective marketing plan is essential for any organization to sustain in the competitive business environment. It is significant for every organization to plan the marketing strategy and implement it in efficient manner so that it can increase the sales and help the organization to make a strong position in the respective industry…
ives 13 4.3: Core Strategy 13 4.4: Target Market 13 4.4.1: PESTLE Analysis of the Target market 14 4.5: Competitor Targets 16 4.6: Competitive Advantage in the Target Market 16 5.0: Marketing Mix 17 5.1: Products 17 5.2: Promotion 17 5.3: Price 18 5.4: Place 18 6.0: Budget 19 7.0: Organization and Implementation 19 7.1: Weakness and control 20 References 21 Appendices 24 1.0: Executive Summary Due to increase in competition in global automotive industry, BMW have embarked on various marketing plans that are aimed at enhancing it survival in the market.
GGI is an importer of gift items and home decor items. They are planning on opening 10 additional stores in various locations. Thus, it is extremely important for GGI to start aggressive marketing campaigns to create awareness about its existence in the retail market.
An influential segment that attracts lots of customers due to the fast service and low prices is the fast food industry. The biggest competitor for 360UP within the fast industry is the market leader McDonald’s. The reason McDonald’s represents a major competition for 360UP is due to the fact that McDonald’s has so many establishments in the United States and abroad.
Marketing Plan: Individual Reflective Essay Student’s Name, I.D. Course Number: Course Title Term and Year Instructor’s Name Marketing Plan: Individual Reflective Essay Introduction In the age of market economy, marketing plan has emerged as a major substitute to the standard and traditional tools of budgeting and forecasting in business management.
The analysis of customers, business competitors, the business environment, marketing mix decisions and the action plan for the effectiveness of the brand are also part of this marketing plan. Product Outline Gatorade is a sports drink brand that is produced and distributed to more than 81 countries by its parent company PepsiCo.
Besides having the prerequisite degree and academic prowess, a graduate needs to have soft skills such having good interpersonal skills and IT (information technology). Marketing involves interacting with potential clients and communicating with them constantly.
The project deals with the 5 years marketing plan for a company in UK. The company that has been chosen is Hotel Chocolat.
Hotel Chocolat is a well known chocolate making company which makes new types of chocolates (Hotel Chocolat, 2010). The company is one of those few companies which manufacture chocolates by growing the cocoa themselves (Hulten, Broweus and Dijk, 2009).
er electronics- Lifestyle electronics include light and more sophisticated items such as, mobile phones, DVD players, MP3 players, video games, massage chairs and other massage equipments, Ipad accessories and other fashion electronics items.
The major marketability of these
a new player entering a well-established market,the objectives of Americana’s marketing strategy at very first stage are to generate consumers’ awareness, to gain market share, and to increase profits.
Different from emerging markets which Americana has focused for a long
3 pages (750 words)Essay
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