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Key Concepts of Marketing | Role of Marketing in Organisational Growth

3570Downloads1 I Published: 17 Dec ,2019

Introduction

Marketing has been one of the key aspects of organizational growth and smooth operational activities of organization performing its business on an international market. It is quite important to evaluate the critical aspects of marketing for generating effective business operations and revenue. Marketing contributes towards the growth of an organization, but it is mandatory to have a strategic marketing plan which would enable to analyze the key issues that can be a major hurdle to achieve the marketing objectives and goals of the organization.

Sasha is a brand new clothing organization of United Kingdom that basically targets to provide high quality women apparels at a very cheap price. Being a new clothing organization set to operate its business operations in the United Kingdom market it is quite important for the organization to frame a strategic marketing plan that would enable the organization to specifically evaluate the critical factors that must be taken into consideration. This report would critically help in evaluating and analyzing the prolific marketing needs and issues that Sasha clothing organization can face operating in the UK market. It would also provide a conceptual analysis about key factors that would enable the organization to have significant domination on the clothing market of United Kingdom by efficiently implementing various marketing strategies.

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Analysis of UK Clothing Market

The United Kingdom clothing industry is a sector that is quite dynamic and fast changing. The clothing or retail industry of United Kingdom is one of the main sectors that constitute to boost the economy of the nation. Evaluating the turnover and transactions, the clothing industry in United Kingdom is quite sophisticated and highly competitive. The organization performing business in the UK market needs to be monitor the market at a constant basis for identification of new trends and it is quite evident to keep up with the increasing expectations and changing tastes of the customers. It is becoming quite tough for clothing organizations performing in the UK market faces the significant challenge of keeping the consumers loyal and satisfied as the preferences tend to change at a rapid rate.

Lowering of international barriers prolifically enabled the significant increase of various products available to the customers. This has eventually enabled the consumers to acquire the freedom of choice and therefore it makes the consumers less likely to keep hold of brand loyalty. The major issue is the availability of various substitutes which are of same quality and available in the market. Moreover with the significant advent of online shopping the consumers are easily able to buy products of same specifications and price. This has allowed the consumers to gain necessary information about the products at a faster rate.

The entire scenario provides a detailed analysis about the need for clothing retailers to be innovative and creative. For having a significant positioning within the market the clothing retailers performing in UK market needs to be interesting and provide quality features and also keep a close view on the demographic changes for understanding and predicting the consumer behavior of the United Kingdom clothing market.

Consumer segmentation and Target Market

In order to increase their reach to the customers, Sasha must implement the most effective market segmentation strategy according to the preferences as well as expectation of the customers. Sasha is one of the fashion related brand and opening their new businesses so that at first they mainly target the lower-middle class and the middle class customers of the UK who are price sensitive in nature. The target customers of Sasha are mainly the female. The designer at Sasha develops some amazing designs for the female fashion apparel as well as accessories. Moreover, Sasha also has some exclusively designed dresses for the female to wear in some special occasion.

As new fashion organizations, Sasha mainly follows the socio-demographic, psychographic as well as behavioral segmentation. According to (), segmentation of any organization mainly divides the target customers based on some variables. Socio-demographic segmentation has different types of variables such as occupation, income, status in the society, size of the family and the education. Sasha has products of different range so that following this segmentation strategy is effective for them. Based on the Socio-dynamic segmentation strategy, Sasha has divided customers in lower and the middle income group. Sasha has developed their products for the price sensitive customers. Sasha has developed their fashion apparel for both the employees (formal shirts, suits etcetera), students (casual t-shirts and different dresses, skirts, tops, different sleep dresses and inner wear for their female customers). Along with that, by dividing the customers into socio-demographic factors they developed their products mainly for the lower and the middle class people. Along with that, Sasha also develops their product for different types of family such as nuclear, extended families as well as single individuals. This is because, Sasha keep products for all of the ages that helps them to provide services for all of the families.

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Along with that, Sasha also divides their target customer based on their personality as well as lifestyle. Sasha has the fashion product range that can satisfy the needs of the traditionalists as well as the contended conformers. Sasha has developed some unique products ranges that can satisfy the need of different customer groups that follows different types of lifestyle. Along with that, Sasha also segmented their customers based on the easy going as well as determined customers. It has been observed that easy going customers mainly attracted to different products that are good inequality and best in prices after visited any store. Therefore, it is highly important for the Sasha to attract these kinds of customers to their stores. Sasha must keep some attractive products in the checkout point that can provide some effective deal to the customers. Along with that, Sasha can utilize some effective promotional channel to attract those customers. In that way, Sasha can attract these easy going customers and achieve huge profits from them. Along with that, It is also important for the Sasha to develop some strategy such as providing some attractive discounts can attract those determined customers. Therefore, by segmenting the customers based on the psychographic segmentation strategy, Sasha must develops some attractive communication and marketing strategy through effective medium that can attract the customer with different personalities.

Along with the socio-demographic as well as psychographic segmentation strategy, Sasha also follows the behavioral segmentation variables. There are mainly two different types of variables in the behavioral segmentation strategy that are the occasions as well as benefit sought. Customers mainly wants high quality product in the lowest possible pricing strategy, therefore, it is highly important for the Sasha to provides an effective cost advantage to those price sensitive customers. Along with this, Sasha must generate huge product varieties so that they can attract customers with their exclusive range of fashion apparel. In order to attract more number of customers, it is very much important to Sasha to have an effective product differentiation strategy. Sasha should develop those products that are effective for the regular wear because they are the start up company so that it is really hard for them to get customers for selling products that are intended for the special occasions such as the marriage. The main reason behind the development of the regular wear fashion products is this kind of products is highly used by the customers. Therefore, if Sasha can develop regular wear products, then they can achieve huge success in terms of profit that can help them to achieve effective return of investments. However, in order to gain the attraction of the customers, Sasha must sell the dresses for the marriages.

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Marketing mix

Marketing mix can be describes as the combination of different factors that are mainly controlled by different companies for influencing the customers for purchasing their products. This section mainly describes the marketing mix of Sasha, which is one of the UK based clothing stores that mainly creates fashion items for the females. The marketing mix of the Sasha can be described below:

Description of the products

A product is one of the items that are mainly established in order to satisfy the needs of the certain group of people. Therefore, in order to achieve the competitive advantage in the organization, Sasha must develop the capability so that they can respond effectively with the changing needs of the customers. The main product range of the Sasha is different fashion apparel along with the fashion accessories. They sell both the casual, professional as well as formal apparel for women. Sasha mainly sells the regular wear products but they also develops the fashion related products for some special occasion too. In order to achieve the success, it is very much important for the Sasha to analyze the current trend and then they must develop their products. Along with that, Sasha should imitate the products from the other big organization so that they can develop the product according to need of the customers. In order to achieve huge success in the market, Sasha must have the capability to cope up with the cultural need of the customers. Moreover, Sasha must follow a modernized approach in their products according to the culture of people so that their products can be widely accepted by the customers.

Brand image of the company

As Sasha is one of the new organizations, therefore, they do not have any effective brand image that can attract the customers towards the brand. In order to attract more customers towards the organization and increase their brand image, Sasha must develop quality product for their customers and provides it by following extensive pricing strategy.

Strategy regarding the pricing objective

The pricing strategy of the Sasha is developing the effective pricing strategy that can help the organization to reach wide range of customers. As Sasha is one of the startup organizations, therefore, it is very much effective to provide their product at the reasonable costs. As the target customers of the Sasha are the customers belonging from the lower middle as well as middle customers so that it is very much important for the organization to follow the affordable pricing strategy. In this case, Sasha must follow the penetration pricing strategy because only this pricing strategy can help them to achieve the competitive advantage. According to (), penetration pricing strategy is one of the pricing strategy where prices are mainly set in low level so that any organization can reach to the wide range of customers. Therefore, by following the penetration pricing strategy, Sasha can reach to huge number of customers. Therefore, penetration pricing strategy can help the organization to satisfy their pricing related objectives.

Distribution and retail related objectives along with strategies

The main distribution related objective of the Sasha is developing the effective distribution strategy by which Sasha can reach to more number of customers. Sasha is one of the initial start up organization so that the organization has the stores in only one place. Therefore, in order to increase the reach into huge number of customers, Sasha can utilize both the offline and online mode. Sasha must create an effective relationship with their stakeholders so that they can get the continuous flow of the raw materials in their organization. Effective relationship with the stakeholders can help the organization to handle the emergency situations. Along with that, in order to deliver the products to the customers who buys products in online mode, Sasha must create an effective relationship with the courier service related organizations. Moreover, development of effective logistic and supply chain with the development of big warehouse is very much important.

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Objectives and strategies of the integrated marketing communication

The objective of the Sasha is creating awareness among more number of customers. In order to increase their reach, Sasha must invest medium amount of money. It is costly to advertise products in the television so that Sasha must advertise their products in the newspaper. Social media is one of the effective medium that can attract more number of customers because huge number of individuals utilizes the social media. Therefore, Sasha must utilize social media as the effective medium because it advertises products with cost efficiency. In order to increase their reach to the customers, Sasha must provide some promotional coupon or some additional discounts to the customers. Along with that, they can provide some attractive offer in the first purchase of the products.

Conclusion

The entire report prolifically analyzes the key concepts of marketing for Sasha. Sasha being a new clothing organization in the United Kingdom Market, it is evident for the organization to strategically evaluate the key factors that can have a significant boost on the organization’s business activities. It is the need of the hour for Sasha to evaluate the prolific factors so that the organization can have a long lasting impact on the market. The report significantly highlights the key concepts and theories on which Sasha can depend and have an effective business on a competitive nation like United Kingdom.

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