Product
You will prepare a marketing plan for a product or service in report format.
The main aim of this task is to discuss the marketing plan for Organic Basics. Organic Basics is an effective and sustainable clothing brand in the market. The company sets the appropriate prices of the clothing products to uplift the profitability and returns. Along with this, Silvertech 2 product has been taken in the task. The Australian country has been chosen in the task that is a sovereign country. The paper outlines that how the company is using marketing mix strategies to sustain and gain competitive advantages in a large extent. SWOT analysis and pestle analysis also have been discussed in the task. More detail of the report is elaborated below.
Organic Basics is a Copenhagen based multinational clothing company established in 2015. Company creates sustainable and better made undergarments (Kickstarter, 2018). Sustainability of products is the main focus of company and the firm is working in the same from the very beginning. This sustainability of company products means manufacturing products like underwear, socks, and T-shirts with better quality of fabrics to make them long lasting and more sustainable. The company has launched Kickstarter in may 2014 with organic underwear for men in the market. The company sold around 60,000 items through online platform (Kickstarter, 2018).
Silvertech 2 is famous and well known brand in the world. It is durable and comfortable brand in the market. The biggest characteristic of the garment is that it can decrease the regularity of washing underwear. Along with this, this product also reduces or decreases the growth of microorganisms such as viruses and bacteria. This underwear is more suitable or appropriate for men in the global market (Organicbasics, 2018).
The marketing goals play a vital role in attaining long term mission and vision in the competitive market. The main aim of the company is to provide attractive and unique clothes to the customers in the global market. Silvertech 2 is one of the attractive products of Organic basics. Silvertech 2 is advanced underwear which is durable, odor-killing, comfortable, and made from 100% sustainable materials (Organicbasics, 2018). Each and every step is taken by the company after considering the profit attainment, long term value, company’s growth and balancing a health and dynamic relationship with partners.
It is an effective and significant process that is used by Organic Basics to analyze and identify the Australian market. Marketing survey and research is done by the firm to analyze and determine the external challenges, threats and challenges of the market (Harrison and Reilly, 2011).
Marketing goals
The situational analysis plays an effective and empirical role to gain competitive advantages in the Australian market (Thompson and Martin, 2010). SWOT analysis and pestle analysis are done by the Organic Basics to measure the challenges and opportunities of the market. If the company wants to enlarge the business in Australia then it needs to concentrates on the risks, challenges and threats of the foreign market (Daymon & Holloway, 2010). The pestle analysis for Organic basics is discussed below.
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Political factors |
· It has been noted that political environment of the Australia is stable therefore the company can take ample of opportunities while expanding and exploring the business. · Australia is one of the biggest and significant markets for MNC’s in the Asia pacific region. Along with this, skilled and well educated employees can be used by the company in the Australia (Pannell, Roberts, Park, Alexander, Curatolo & Marsh, 2012). |
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Economic factors |
· A decline in the economic market situations across the Australia has influenced the performance and productivity of Organic basics. Along with this, fluctuations in the currency exchange rates, interest rate, unemployment rate and weakening of Australian dollar have also adversely impacted Organic Basics operations and activities. |
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Social factors |
· The social factors such as customs, values, beliefs, attitudes and behaviour of the people could also affect the sales volume and market share of the company widely. The company can increase its market share and profitability in the Australian market by providing various organic clothing clothes and other products to the customers. |
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Technological factors |
· Advanced and innovative technology can be used by Organic Basics in Australian market to stand out against the competitors. |
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Environmental factors |
· The environmental factors such as climate changes and weather could put direct adverse impact on the growth and success of the business. |
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Legal factors |
· The legal factors play a imperative role in attaining the desired goals and objectives. The legal changes in the Australian country may affect the company’s costs and demand of the customers. Changes in regulations and norms also affect the operating income of the company. |
SWOT analysis for Organic Basics has been discussed below.
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Strengths |
Weaknesses |
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· It is stated that Organic basics products are quite different from the other products. The company provides silvertech 2 underwear with excellent quality and features to the customers. · Organic basic’s clothing brand has become an effective and unique symbol of sustainable development and expansion. · The team size of the company is smaller. Effective and unique communication is maintained by the team members in the workplace. |
· Due to lack of staff, the company is unable to focus on the needs and demands of the customers. · The underdeveloped areas of the network could also affect the sales and income of the brand. · Lack of team personnel and funds is another weakness of the company. · There is high and intense competition could also affect the growth and progress of the firm. |
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Opportunities |
Threats |
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· The quality of the brand is unique and effective thus the company needs to expand the functions and activities in European country. · The progress of technology is very interesting to the investors hence, the company can get ample of opportunities in the Australian market. |
· It is noted that consumer demand is increasing but the supply side cannot produce ample of products that will lead to a vital and significant decline in the brand. · The pressure from the competitors is highest therefore, it affects the objectives and goals of the company adversely. · Shortage of raw material is another weakness of Organic basics. |
There is high and intense competition in the market. Some of the competitors of Oragnic basics include Calvin Klein, Emporio Armani, Hugo boss, Danskin and Nike. These competitors may affect the growth and operating income of the company adversely (Thetrendssporter, 2018).
The marketing objectives of Organic basics include:
- Making up 10% profit rate each year in an effective way by providing value to the stakeholders and workers while maintaining trust and reliability of the customers.
- By maximizing the sales percentage by maximizing the manufacturing rate of primary brands.
- Introduction of new clothing produces in global markets through innovation in research and development.
- Spending the noticeable part of the budget on marketing and advertisement of core brands across the globe.
It is stated that target market segment plays a primary role in enhancing and increasing the revenue and returns of the firm. The target market of the company is men, women and kids who want attractive and unique clothing products. The large amount is paid by the customers on clothing products. The company is using organic materials. The people have been buying wide range of brands of underwear by shops and the expansion of the internet is more conducive and effective to their sales today. Organic basics focuses on the needs, demands and expectations of the customers to struggle with rivalries across the globe. It uses effective and unique strategies to accomplish the long term goals and targets (Grose, 2011).
The company uses segmentation strategy to build and develop a dynamic image in the minds of the customers in Australia. Segmentation is a process of divided the entire market into the different segments. Organic Basics divides its market on the basis of geographic, demographic, psychological and demographic basis. It has been found that the company also uses positioning strategy to overcome the competitors in the competitive market.
It is stated that Organic Basics uses ample of marketing strategies to strive with competitors in the global market (Van Velsen, 2017). The main strategies that can be used by the company while implementing the business internationally have been discussed below.
Market penetration: The Company uses market penetration strategy to capture the entire market globally. The market growth may be done by stimulating the entire market with product modernization and therefore market diffusion (Aaker & McLoughlin, 2010) .
Market research
Market development: It is stated that Organic Basics uses market development strategy to produce innovative and unique clothing products in the competitive market. As the market development for any firm becomes more incorporated with the company’s acquisitions, partnerships and expansion thus Organic Basics is also focusing and concentrating on these attributes (Baker, 2014).
Diversification strategy: The diversification is one of the unique and effective marketing strategies for the firm to accomplish the desired objectives and targets. By using diversification strategy, the company wants to expand its business in Asian market (Grant, 2016).
The marketing mix plays an empirical role to cope up with rivalries in the international market. The marketing mix for Organic Basics has been detailed below.
Product: Product is one of the significant strategies that can be used by the company while providing clothing products to the customers across the globe. The organization provides innovative and dynamic silvertech underwear to the customers in the international market. New product development strategy shall be used by Organic Basics to produce unique clothing products for the customers widely (Mangold & Faulds, 2009).
Price: It is stated the Organic Basics can use innovative pricing strategy to distinguish its products from the competitors. The income of the customers is high in Australia. Thus, the organization can use premium price strategy for its premium products to keep its price rates suitable and affordable.
Place: Organic basics is well known brand in the market. Thus, the company needs to make dynamic place strategy to capture wide range of clients in the global market.
Promotion: Silvertech underwear is a famous brand that is used by everyone. Organic Basics has launched various campaigns and sessions to promote the clothing products in the market. The organization has started both outdoor and indoor campaigns and programs in order to attract fashion conscious customers (Kenny, 2009).
People: Unique and effective team is maintained by the company to run the business actions in a large extent. The company uses social media channels such as Twitter, facebooks and television. Furthermore, the organization can also use advertisement and promotional strategy to increase and enhance the sales volume of the firm (Gordon, 2012).
Physical evidence: Physical evidence is collected by the customers while purchasing Silvertech underwear and clothing products in the international market.
Process: Organic Basics should use attractive and effective process and procedure to build a dynamic image in the minds of the customers. Effective process will help the company to flourish and explore the business in the international market (Christopher, Payne & Ballantyne, 2013).
Situational analysis
The significant part of the budget is being used by the firm in marketing campaigns, programs and approaches. The budget approx 1, 00,000 $ should be set by Organic Basics to attain the desired mission and vision in the Australian market.
The monitoring and control is done by the company with the help of balance control card method. This method focuses on the four viewpoints including customer perspective, financial perspective, interior perspective, and innovation and learning perspective. If there is any variation find then effective and unique measures can be taken by Organic basics.
After setting the budget and all the goals, Organic Basics needs to implement or initiate the plan in the given time period.
Conclusion
On the above mentioned analysis it is concluded that Organic Basics is the biggest and leading brand in the market. The company identifies and focuses on the quality and environmental protection. The company uses different marketing strategies to expand the business operations in Australian market. The above mentioned analysis shows that how the company is making marketing plan to promote the Silvertech underwear and other products in Australia. It is recommended that the company should focus on the target market and business level strategies to stay in the rivalries market.
References
Kickstarter.,(2018). Silvertech 2.0-The world’s most advanced underwear [Online], Retrieved from https://www.kickstarter.com/projects/organicbasics/silvertech-20-comfortable-and-anti-microbial-under
Organicbasics.,(2018). Our story [Online], Retrieved from https://organicbasics.com/pages/our-story
Harrison, R. L., & Reilly, T. M. (2011). Mixed methods designs in marketing research. Qualitative Market Research: An International Journal, 14(1), 7-26.
Daymon, C., & Holloway, I. (2010). Qualitative research methods in public relations and marketing communications. Routledge.
Van Velsen, J., (2017). The extended-case method and situational analysis. In The craft of social anthropology (pp. 129-150). Routledge.
Grose, V. (2011). Basics Fashion Management 01: Concept to Customer (Vol. 1). A&C Black.
Thompson, J.L. & Martin, F., 2010. Strategic management: Awareness & change. Cengage Learning EMEA.
Pannell, D. J., Roberts, A. M., Park, G., Alexander, J., Curatolo, A., & Marsh, S. P. (2012). Integrated assessment of public investment in land-use change to protect environmental assets in Australia. Land Use Policy, 29(2), 377-387.
Aaker, D. A., & McLoughlin, D. (2010). Strategic market management: global perspectives. John Wiley & Sons.
Baker, M. J. (2014). Marketing strategy and management. Macmillan International Higher Education.
Grant, R. M. (2016). Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Kenny, G. (2009). Diversification Strategy: How to grow a business by diversifying successfully. Kogan Page Publishers.
Mangold, W. G., & Faulds, D. J. (2009). Social media: The new hybrid element of the promotion mix. Business horizons, 52(4), 357-365.
Christopher, M., Payne, A., & Ballantyne, D. (2013). Relationship marketing. Routledge.
Gordon, R. (2012). Re-thinking and re-tooling the social marketing mix. Australasian Marketing Journal (AMJ), 20(2), 122-126.
Thetrendssporter.,(2018). 15 Best men’s underwear brands [Online], Retrieved from https://www.thetrendspotter.net/17-best-mens-underwear-brands
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