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Key Topics
Requirement
1000-word Marketing Assignment for a Client Company
Select Company with a problem that needs a marketing solution
Outline and introduction of the company, position in the market, identified problem and its implications
Proposed solution and objectives
Models/Frameworks to be used to analyse each environment (macro/micro/internal) - Use diagrams
Situational Analysis if problem is not solved
Referencing style - Harvard
Solution
Introduction
In this present paper, we will discuss the marketing problem of ASOS Company which is the largest online fashion independent brand in the UK (ASOS et al., 20161). The company offers sixty thousand branded and label products of its company in two segments. Namely, menswear and women wear. The company deals in various products such as shirts, shoes, beauty, lingerie, dresses, jeans and others. The paper also describes the solution and objective of the problem, PESTLE analysis, porters five forces analysis, SWOT analysis, and situation analysis.
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Marketing problem & implications
The marketing problem of the company is the failure to do effective branding which impacts on the sales volume of a company and mismanagement of resources. The company has major competitors in the market who are providing the similar products which impaction the brand image that directly influences on the revenue of the company (Kotler et al., 2015).
Proposed solution & objective
The company should adopt various marketing strategies which help to build the brand image in the eyes of the consumers. The various promotional activities should be conducted by the company such as online branding, advertisement on local and national television which helps to build the brand image in the eyes of the consumer.
PESTLE analysis
Below is the pestle analysis of ASOS:
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Political segment: The various political segments which impact the performance of the company are taxation policy, privatization, health and safety regulations, public expenditure controls, government stability and the European Union directives. The company is facing the risk due to government stability in the new emergence economy.
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Economic segment: The economic factors which impact the performance of the company are inflation rate, business cycle, a rate of unemployment, disposable income, the cost of labor, and prospects of economic growth. The policy and strategy of a company should be made by considering various economic factors.
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Social segment: It comprises of values in society, lifestyle, consumer taste and preference, education level, and demographics (Fernie et al., 2015). The company should use consumer-centric strategy because the change in the consumer taste and preference highly impacts on the sales volume of the company.
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Technological segment: The rapid development of technology creates new competition in the market which impacts on the brand image and revenue of the company. The technical department of a must innovates in order to differentiate its products from the market.
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Legal segment: The company should implement employment law, business regulations and company law which impact on the performance of the company (Team et al., 2013).
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Environmental segment : The company should increase its corporate social responsibilities such as recycled packaging which helps ton protect the environment.
The following figure shows the PESTLE analysis:
Source: (Team,2013)
Porter’s five forces Analysis
Below is the porters five forces analysis of ASOS:
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Bargaining power of buyer: The bargaining power of consumers is high because the consumers have various choices which are provided by the competitors.
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Bargaining power of suppliers: The bargaining power of suppliers is also high because the supply chain mainly depends on the supply of raw material on time which directly impacts on the brand image in the eyes of a consumer.
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Threat of new entrants: The threat of new entrant is also high because it is related to the clothing industry in which easy entry and exit are allowed.
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Threat of substitutes: The threat of substitute is also high because there are new competitors can enter the market easily with various marketing strategies (E. Dobbs et al., 2014).
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Threat of existing competitors: The existing competitor’s threat is also high because the similar products are providing by the major competitors in the same industry.
The following figure shows the Porter's five forces analysis:
Source: (Magretta, 2013)
SWOT analysis
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Strength: The company has the merchandising strength which includes the exclusive and diverse array of brands, the unique variety of products, and free shipping across the globe. The management of the company is very efficient and effective. The employees are continuously working with the passion for innovating the products.
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Weakness: The company only services in an online mode, and they do not have any stores. Another weakness is that the company does not advertise on any marketing platform. The company is also providing free shipping which directly cuts the hundred million pounds from the annual sales.
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Opportunity: The company can sell diverse its products with innovative skills which are an opportunity for the company. The mobile app is also an opportunity to explore in the market.
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Threats: The threat for the company includes the change in consumer taste and preference, change in industry trend, new marketing strategies, and innovative products provided by the consumer (Birinci et al., 2013).
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Place Your OrderThe following figure shows the SWOT analysis:
Source: (Birinci,2013)
Situation Analysis
If the company fails to improve the brand image in the eyes of the consumers, then the company should survey and used personal marketing which helps to collect the data, and it enables to develop the consumer-centric strategy which directly impacts on the sales volume of the company (Berman et al., 2013). The company should also maintain healthy relations with the suppliers which help to supply the products to the consumers on time by smooth running of a supply chain.
Conclusion
The ASOS is an online independent fashion brand which is having marketing problem of failure to do effective marketing which impacts on the sales volume of the company. The proposed solution is adopting various marketing strategies which help to promote the brand through advertisement on national and international television and online branding. The pestle analysis shows that the company should adhere to regulations which help to stabilize the political segment of the company. The economic, social, technical, legal and environment segments should be considered at the time of building strategies. The company should make innovative products which help to stand out among the competitors in the same industry.
References
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ASOS | Shop the Latest Clothes and Fashion Online. (2016). Asos.com. Retrieved 24 October 2016, from http://www.asos.com/?hrd=1
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Kotler, P., Burton, S., Deans, K., Brown, L., & Armstrong, G. (2015). Marketing. Pearson Higher Education AU.
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Fernie, J., Fernie, S., & Moore, C. (2015). Principles of retailing. Routledge.
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Team, F. M. E. (2013). ‘PESTLE Analysis. Strategy Skills.
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E. Dobbs, M. (2014). Guidelines for applying Porter's five forces framework: a set of industry analysis templates. Competitiveness Review, 24(1), 32-45.
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Magretta, J. (2013). Understanding Michael Porter: The essential guide to competition and strategy. Harvard business press.
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Birinci, M., & Eren, E. (2013). The Effect of Strategic Management Practices on the Performance of Universities in Turkey. Journal of Global Strategic Management, 13, 17-33.
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Berman, B. R., & Evans, J. R. (2013). Retail management: a strategic approach. Pearson Higher Ed.
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