Marketing Plan For UNIQLO In Australian Market

Marketing Analysis

This report discusses about marketing plan a company for next one year. For the discussion, the famous company UNIQLO has taken. The aim of this report is to develop the marketing plan for famous clothing company UNIQLO for one year. Fast fashion industry has the short product life cycles so, the companies are competing in the fashion industry. The companies competing in this industry should adopt some tactics and strategies to get success in the market. UNIQLO is the famous company operating in various countries. In present time, there is strong competition in the market and it is the challenge for the company to increase its sales and revenue (Baker, 2003). Although the company is standing behind the strong competitors but it is trying get success in the operating market. This report is the marketing plan for the company to grow in the Australian market within next one year. The marketing plan of the company identifies target market, segmentation and positioning of UNIQLO. Along with this, marketing mix of the company is also discussed in this report (Lincoln & Groth, 2011).

UNIQLO has the importance of global customers in its business. It is the company has Japan and expanding its business in many other countries also. The company has differentiate its products from its competitors such as Zara and H&M. The company believes that customers always care about value and quality in the product rather than changing styles. So, UNIQLO uses long development cycles to innovate new designs and materials. Along with this, the company also creates long term relationship with the vendors (Boone & Kurtz, 2013). UNIQLO made such products that do not go quickly out of fashion. By this, company has found the way to create level of differentiation with the innovative styles. So, UNIQLO is gaining competitive advantage over the competitors in the market. UNIQLO is expanding its business in many countries with the three-level flagship stores which are helpful in the expansion in the global market. Along with this, company is adopting tradition way of expanding the business rather than focusing on the modern way. Opening flagship stores are the traditional ways to expand the business in the international market. Due to its flagship stores, UNIQLO is now gaining the brand recognition in the global market (Edmundson, 2010). 

In the Australian market, UNIQLO has to face strong c competition with other companies. There are many well-established international fashion companies such as H&M, Zara and Gap which can give tough competition to the company. These brands are ruling in major Australian cities. Although UNIQLO is old in the fashion industry but the brand name of the company is still comparatively new for the Australian customers. As the Australian market is already developed so, it is difficult for the company to get the growth and success. Due to other domestic fashion brands, it is quite difficult for UNIQLO to improve its market share. There is the need of effective marketing and strategies by UNIQLO to gain brand recognition and market share (Brumfitt, 2001).

Competitive Analysis

The customer analysis of the UNIQLO Company can be done by analyzing segmentation, target market and positioning of the company in the market. The company has produces the products which can be purchased by everyone in the market. UNIQLO has wide range of clothing products and the company has adopted unique methods and strategies to attract the customers in the Australian market. In the Australian market, company will use mass marketing strategy by which the products will be delivered to the general public in the market. There is the need to be competitive by the company so, company has to adopt the strategies of the segmentation, targeting and product positioning (Bickhoff, Hollensen & Opresnik, 2014).

Market segmentation can be described as the group of the consumers having different set of the needs, desires and requirements. Basically, segmentation includes measurability, accessibility, profitability and large size of the customers to create a specific segment. In simple words, segmentation is the division of the customers in the market in to various parts based on their needs and requirements. In the segmentation strategy, UNIQLO will cover all the groups of the customers without dividing them based on their characteristics. There is the need to focus on more segments by the company to improve the sales and profit in the Australian market. So, there are three segments which can be focused by the UNIQLO.

In this segmentation, UN IQLO will target the professional workers in the Australian market. The company will focus and serve the many customers including tourists. It is well known that Australia is the famous tourists’ destination for the people. So, by targeting the tourists company will be able to increase the revenue and profit in the operating market. Further, there is the need to bring change in the products by the company so that it can provide the products based on the requirement of the season (Bruning, Hu & Hao, 2009).

This segmentation refers to dividing the market based on some characteristics of the customers such as nationality, gender, income, education, occupation, age and ethnicity etc. UNIQLO is providing wide range of clothing products for various age groups. Company has various products i.e. formal wear, casual wear and T-shirts for the youth aged from 15 to 40. By the unique product catagories, the company is able to attract the customers easily. The company is trying to target young customers who are concerned about the fashion. Further, the company has variety in the clothes for both men and women. The company has combination of formal and casual wear. Apart from this, the company is also focusing on the gender segmentation.

Under this segmentation, company divides the market according to the behavior, attitude, perception, responses and the knowledge of the customers about the products. UNIQLO has the products according to the season such as winter wear and holiday season. In the category of holiday season clothes, company provides such clothes which suit the customers while traveling to the other cities during the holidays. With this, company provides clothes which are suitable for the winter season and spring season. Those types of clothes are made from such fabrics which are suitable for the human in cold. So, the company is trying to attract new customers and retain the customers. By providing new and innovative clothes, company will be able to attract new customers in the Australian market. Along with this, the trained and experience staff of the company will be helpful in making the staff loyal for walking in the stores of the UNIQLO (Peck, Christopher,Clark & Payne, 2013).

Customer Analysis

Target can be defined as the process of attracting the customers in the operating market. It is not an easy task for the company to attract new customers in the global market. If the company is operating in the international market, so, it is important for the company to do the proper research about the customers and the environment of the different country. Targeting the customers is the essential part for the marketing strategy of the UNIQLO. It is major challenge for the company to target the customers in the new market. There are strong competitors in the Australian market such as GAP, ZARA and Cotton On who are the leading company in the clothing industry. So, it is the critical task for the UNIQLO to develop its strong brand image against the competitors. For this manner, the target customers for the UNIQLO will be those people who are working professionals. Due to the innovative technologies, it is now very easy for the company to provide the information about the products to the customers. It is observed that people in recent time believe simplicity in clothes. So, the advantage of targeting the working professionals is that they know about their requirements in the products. They know about their ability in the financial terms to purchase the clothes. So, they can be the crucial part for the company in improving its sales (Pavlou & Stewart, 2015).

UNIQLO has the proper business model like other company to stay competitive in the market. The business model of the company is based on repetitive business. In the strong competitive environment, the company is able to target huge customer base by providing wide range of products. It is well known that the customers are very concerned now about their purchased products. So, they seek for the information from the various source s such as social media and internet. The product positioning strategy will ensure the loyalty of the company towards its customers. So, there is the need of the company to adopt proper positioning strategy to connect the customers with the company (Cavusgil, 2012).

UNIQLO will focus on two methods to show the loyalty towards the customers in the Australian market. Company will adopt either separation or customer relationship management. Both the methods are crucial for the UNIQLO. It is essential for the company maintain the data related to the purchasing of the customers. This can be used in rewards and loyalty programs by the company. In the other global market such as US, Japan and Europe, the company provides 10% cash back on the purchasing of some items. Along with this, company provides some existing offers and discounts to the customers when they purchase the products beyond the set limit of the purchasing. UNIQLO has mobile for the convenience of the customers and they will be able to find out the desired products with the discounts (Fast Retailing, 2012).

UNIQLO is the brand name in the clothing industry. From the website of the company, it can be observed that the company understands that the brand is more important than the design or logo. The website of UNIQLO is able to crate positive image in the mind of the customers mind. Along with this, the website of the company tries to convince the customers about is brand by providing the information of production process. UNIQLO believes in the high quality with the fair prices and tries to provide unique customer experience by the skilled staff. The company has established its stores in the global market. The company is able to achieve this by the experienced staff and their valuable services. With the experienced staff, company will be able to grow in the global market. Along with this, company has the social responsibility which is observed in its website that it is sponsoring players in the various catagories having the aim of creating awareness.

Segmentation

The goals and objectives of the UNIQLO is increase the customer base for the products in the Australian market. The goal of the company is to provide best quality of the clothing products to the customers at the affordable and reasonable prices. By expanding the business in the Australian market, the company is setting another milestone in terms of international strategy. The objective of the company is to expand the business in almost every country of the world as expansion is the key factor of the success in the operating market. Along with this, the aim of the company is to be the largest designer company in terms of clothing and garments in the market. For this manner, there are some goals of the company and d those are as follows:

• To increase the market share of the UNIQLO in the Australian market,
• To increase number of stores of the company in the Australian market,
• To increase the products offering among the Australian customers and,
• To grow the revenue of the company by its innovative business operations.

UNIQLO is the famous company in the clothing industry. The company is focusing on the set up of its strong position in the Australian market. To achieve the goals and objectives, there is the need to promote itself by the company in the proper way which will be helpful in attracting more and more customers. By promoting and positioning the products, company will be able to create strong brand image among the customers of Australia. In case of UNIQLO, marketing mix is the essential concept to promote and advertise the products among the customers. Proper use of marketing mix will be helpful for the company to attain the goals and objectives (Chakravarthy & Coughlan, 2011).

The company UNIQLO has wide range of products in the clothing having fair prices. There is the need to examine the situation of the customers by the company to ensure that it is providing right product to the right customers. The key objective of the UNIQLO is to offer innovative, high-quality and affordable clothes of the Australian customers. To stay competitive and to differentiate the products from the competitors, the company has wide range of clothing products along with the attractive colors. Further, UNIQLO is also providing the products based on the seasons such as clothes for winters and summers. The clothes offered by the company are made from the fabric which can be used in the cold season. Along with this, UNIQLO is providing such products which can be used whole the year such as fashionable, casual, and professional clothes having attractive colors. The company not only targets fashionable youth but also focuses on the adult customers. Based on the changed environment and fashion, the company also implements innovative changes in its products. The products offered by the UNIQLO are as follows:

This is the most crucial factor in the marketing mix which decides the future of any product or serviced in the operating market. UNIQLO has the strong position in the market because of the high-quality products. Company always provides best quality clothing products in the low prices as compared to its competitors (Gilligan & Hird, 2012). To get success in the Australian market, company will adopt penetration pricing strategy in the market as the company is using penetration strategy in other countries also. The objective of the company is to improve the sales, revenue and market share in the Australian market. So, company will not fix the prices of the products for long term. Company must review the prices of the products time to time based on the situations of the market (Peñaloza, Toulouse & Visconti, 2013).

Geographic Segmentation

Place in the marketing mix is the essential factor which can be defined as the location of the company y by which it can provide the products easily to the customers. It is crucial for the company that the location of the stores must be reachable and accessible for the customers. Place can be described as the location by which the company can target to the customers (Armstrong & Cunningham, 2012). In present time, there is the trend of technology such as internet, social media which are the best platforms to attract the customers. Along with this, customers also like to visit the physical stores for selecting the clothes. Physical stores of the company provide the facility of parking and many other facilities to attract the customers. So, company UNIQLO tries to expand the business in the Australian market. For this manner, there is the need to locate the stores in such places from where the customers can easily connect with the company. Having better location, company will be able to reduce the cost incurred in the advertising. If the company wants to provide best services as compared to the competitors so the company has to locate some physical stores at the accessible location for the customers. By conducting trade shows, and fashion show, UNIQLO will be able to attract more customers. By these practices, company will also be able to create awareness among the customers about the best quality clothes. For instance, if the company conducts fashion show then there is the assurance of products’ quality.

This is the most important part of the success of the company. Without effective promotional techniques, the sale of the products cannot be successful in the market. Promotion can be described as the methods and strategies which are adopted by the company to advertise the products and to provide the information related to the products offered by the company to the customers. In simple words, promotion is used to improve the brand image of the specific products among the customers. Promotional activities for the products can be done by the advertisements. To target the customers in the operating market, promotional activities are the most crucial part of the company. It is well known that the young customers are concerned for the fashion and brand (Fifield, 2012). So, promotion by the media such as television, social media, and internet advertisements, company will be able to target the youth in the market. Along with this, mass media will also be appropriate marketing tool for the UNIQLO to promote its products. Further, social media is the effective marketing tools to attract the customers. The marketing tools such as advertisement on the television, newspaper and internet i.e. FaceBook, Whatsapp and Twitter can be use to promote the products in the market. Activities related to segments, branded websites and fashion magazines can also be very effective for the company to promote its best clothing products (Chikandiwa, Contogiannis & Jembere, 2013).

Conclusion

The above report describes the marketing plan of the famous company UNIQLO. The marketing plan is helpful for the company to gain profit in the Australian market. The company has various to gain profit. Due to wide range of products, the company has got success in terms of targeting the customers. For the future growth and success, UNIQLO needs to adopt some innovative strategies i.e. segmenting, target marketing and positioning strategies which would be helpful in differentiating the products from the competitors. From the above discussion, it can be said that by adopting the above mentioned strategies, UNIQLO will be able to boost its sales in the Australian market.

References

Armstrong, G., & Cunningham, M. H., (2012), Principles of marketing, Australia: Pearson publication

Baker,M.J., (2003), The Marketing Book (5^th), Burlington: Linacre house, Jordon hill

Bickhoff, N., Hollensen, S., & Opresnik, M., (2014), The Quintessence of Marketing: Strategic and Operative Marketing Planning—Segmenting, Targeting, Positioning. pp. 47-11

Boone, L., & Kurtz, D. (2013), Contemporary marketing, USA: Cengage Learning

Brumfitt, K., (2001), The Competitive Business Environment, UK: Nelson Thornes Ltd

Bruning, E. R., Hu, M. Y., & Hao, W., (2009), Cross-national segmentation: European Journal of Marketing, 43 (11/12), 1498-1522

Cavusgil, S. T., (2012),  International Business: The New Realities, Australia: Pearson Education

Chakravarthy, B., & Coughlan, S., (2011), Emerging market strategy: innovating both products and delivery systems, 40(1), 27-32.

Chikandiwa, S. T., Contogiannis, E., & Jembere, E., (2013), European Business Review :The adoption of social media marketing in South African banks, 25(4), 365-381.

Edmundson, D., (2010), UNIQLO’s six Phrase In-store Strategy, Retrieved on 3^rd May 2017 from https://archive.psfk.com/2010/07/uniqlos-six-phrase-in-store-strategy.html

Fast Retailing Co., Ltd. (2012), UNIQLO Business Model, Retrieved on 3^rd May 2017 From https://www.fastretailing.com/eng/group/strategy/uniqlobusiness.html

Fifield, P., (2012), Marketing strategy (2^nd edition), Berlin: Reed educational & publishing Pvt Ltd

Gilligan, C., & Hird, M. (2012), International Marketing Strategy and Management (Vol. 17)

Lincoln, K. & Groth, A., (2011), Uniqlo’s High-Speed Path toward World Domination. Business Insider, Retrieved on 3^rd May 2017 from: https://www.businessinsider.com

Pavlou, P. A., & Stewart, D. W., (2015), Interactive Advertising: A New Conceptual Framework Towards Integrating Elements of the Marketing Mix, pp. 218-222

Peck, H., Christopher, M., Clark, M., & Payne, A., (2013), Relationship Marketing, Burlington: Linacre house, Jordon hill

Peñaloza, L., Toulouse, N., & Visconti, L. M., (2013), Marketing management: A cultural perspective, USA: Routledge

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