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Marketing in Action

Extracts from this document...

Introduction

Module: Marketing in Action Word Count: 2000 Student ID: THURSDAY 27TH MAY 2004. REF/APU/MARKETING/0504/002 Mr. Frank Skinclad London Dear Mr. Frank, Please find enclosed an initial report on the current state of Skinclad's operations for your perusal. This report seeks to: a) Reviews the macro and micro environmental factors which are likely to impact upon Skinclad's business over the next five years b) Identifies the Skinclad'd internal factors, structures, systems, strategies, skills, shared values and the marketing mix and identify possible areas where there might be a problem c) Shows a SWOT analysis of the current situation d) Indicates possible marketing relevant courses of action, both internally and externally, to profitably increase sales in the short term within Skinclad's current production and financial constraints and suggests what might be the strength and weakness areas identified. We trust the findings of this report will assist in charting a direction for your organisation. Respectfully Submitted ............................................... # 0363187/1 MARKETING CONSULTANT Encl. Table of Content Introduction 4 Macro Economic Factors 4 Pest Analysis Micro Economic Factors 5 SPICC Factors Internal factors 5 Marketing Mix 6 SWOT Analysis 6 Courses of Action 7 Marketing Penetration 8 Conclusion 9 Future Prospects Bibliography 10 Appendices 12 INTRODUCTION In order to analyse the operating environment of Skinclad, an audit of the performance of the organisation was executed. This took the form of an environmental scan which assessed the internal and external environment of the company. The findings of this scan will provide an understanding and appreciation of the many factors impacting directly or indirectly upon the company's operations. The report explores the macro and micro environmental factors which are likely to impact upon Skinclad's business over the next five years, reviews the internal factors, existing marketing mix and highlights possible problems areas. The Swot analysis lists the main strength of the business, its weakness and likely threats and opportunities the company may face in the future. ...read more.

Middle

Skinclad may also consider an initial pricing strategy that is competitive and covers overheads to launch its brand. Economic theory suggests that lowering prices in the short run can give a firm a competitive advantage while boosting revenue through increased sales. The success of this strategy is heavily dependent on an effective marketing strategy. Skinclad should meet with its bankers to request a loan. At this meeting, the Skinclad management will present its marketing plan and submit a proposal for a debt consolidation to repay all outstanding debts especially to its creditors, suppliers and leasers. The existing machinery and equipment can be used as collateral to secure the loan. The weakness of this strategy may be a refusal by the bank, which would then require Skinclad to approach another financial institution. . CONCLUSION FUTURE PROSPECTS The early month of 2003 brought yet more bad news for UK manufacturers, with numerous factories being slated for closure or a reduction in output and employment. Forecasts for 2003 - 2007 shows that the growth of the Textile industry continues on par with the previous five year, at 3% to 4% a year (Research and Markets 2004). However, the shift to sourcing will continue, and prospects are very gloomy for UK manufacturing. Skinclad must be mindful of this present scenario and in the shortest possible period, expand its supply of product into new market within the European Union, thereby benefiting from the trade liberalisation. Current global fashion trends indicate a shift towards more casual dress codes, including sports-based leisurewear. Skinclad can introduce a sport jacket line in the medium to maintain it competitive edge. The survival of Skinclad is dependent on the immediate turnaround of the companies operations and constant monitoring of global trends and possible restructuring where applicable. BIBLIOGRAPHY Kotler and Armstrong (2001) Principles of Marketing, Ninth Edition. Prentice Hall: New Jersey. Torrington, Derek et al (2002) ...read more.

Conclusion

with clearly defined lines of reporting and supervision System > Production line operations with specific tasks for different workers > Managing director executes the negotiations on behalf of the company with suppliers, retailers and agents and oversees the daily operations > Limited scope in marketing the company and its products Skills > Combination of skills; individuals that are capable and experienced in operating machines, designing, cutting and stitching, inspecting, sorting and packing, book keeping and administration, marketing and sales Staffing > Workforce of approximately fifty workers with three directors > Flexible working arrangements, most likely based on demand for Skincald production > Leadership style not indicated in the case, basic assumption, informal type Strategy > Production of high quality goods that appeal to a particular segment of the market > Twenty two different style provide options to the consumer > Sales executed through an agent and to a large retail store, Modal fashion Shared Values > This is not applicable to the case Sustainable Competitive Advantage > Has been in existence for over twenty two year > Developed an establish network that includes, suppliers, retailers Appendix 4 8 P's Product * Jackets and full-length coats in twenty different styles Place * Old dilapidated building in the old textile industry main district Price * Basic assumption that product is high priced since product is high quality Promotion * This information was not provided in the case. However, the need for promotion may be limited as there is a direct link to a retailer who purchase the majority of the product Profit * Profit has been eroded over the years with a net value of �1 on certain product Physical * Old rented premises in what used to be the hub of the UK textile industry Process * This information was not available from the case People * Not accessible from case Appendix 5 Ansoff Matrix EXISTING PRODUCTS NEW PRODUCTS Existing Markets Market Penetration Product Development New Markets Market Development Diversification ?? ?? ?? ?? 1 ...read more.

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