Marketing Plan and Questionnaire - Assignment Example

PESHTEL Political aspect Stability in the political environment within the United Kingdom America. Democracy been practiced in the political processes. Cordial relationship across the globe. Political regime has created a conducive environment for business people through political goodwill. Economic aspect The GDP of the United Kingdom has improved from 1.7% in 2013 to 2.6% in 2014. The inflation rate in the United Kingdom is relatively low. currently at 1.8% Formation of trade blocs such as EU. The unemployment rate in UK has dropped to 5.5% while the wage rise by 2%. Per capita income of the United Kingdom has increased from $41,776.80 in 2013 to $45,603.30 in 2014 Social aspect The population in the United Kingdom and the globe is increasing. There are different age groups in the UK who demand different products. There are different social-classes i.e. Upper class, middle-class, and lower class. History aspect Nightwear have been worn in the UK for a long time ever since 1880s. Technological aspect Designing of nightwear should satisfy the clients Production processes involved should be efficient has technology evolves. Enhancement in the Platform for conducting business e.g. online marketing. Transfer and adoptability of technology in apparel industry. Cost versus benefit of a given technology need to be analyzed. Environment aspect All activities should maintain and conserve the status of the environment. Incidences of natural calamities such as tornados can result to destruction of nightwear stalls. Climatic change influence the production of cotton. The globe is on high demand for “green products” (products conserving the environment) Environment pollution from industrial waste has interfered with quality of cotton. Changes in weather pattern demand nightwear that will suitable for the clients Legal aspect. Labor law in the United Kingdom protects employees. Consumer law that ensures the safety of UK citizens. Tax law under the United Kingdom to generate national revenue. Discrimination law ensures fair and equal opportunities for all parties involved. Health and safety law ensures both clients and employees are safe. Licensing by various bodies in respective cities is mandatory. Porter’s five forces Bargaining power of suppliers The suppliers for nightwear are not limited therefore, bargaining power is low. The cost involved in changing suppliers i.e. switching costs are low. There is a threat of forward integration among the suppliers. There are substitute for the products supplied by the suppliers thus low bargaining power. Bargaining power of buyers Buyers have low bargaining power simply because: They cannot produce nightwear. They do not know production cost incurred. They purchase the nightwear in low volumes. They are price sensitive. Threat of new entrants UK government has allowed countries to export apparel products through EPA agreement. Sleep pill has identity among its consumers. Sleep pill will recruit professionals to assist in all processes involved thus breaking into the market Controlling the distribution of nightwear to both retail and online segments. Threat of substitutes To reduce threat of substitute, the following will be observed; A close customer relationship. Facilitate and enhance brand loyalty among consumers. Enlighten by the trending affairs in the nightwear or apparel and entire economy. Price of the substitutes should be closer to sleep pill’s products. Degree of rivalry The difference in product quality will determine the rivalry intensity. The brand name “Sleep Pill” will stand-out as an identity for the firm. Sleep Pill will expands its operations thus intensifying the rivalry with Wildfox and Victoria Secret. Differentiation of nightwear than competing on product price tag with competitors. Competitor’s analysis DKNY Strength Have been in business for a good period since 1984. Sale range of products (including non-apparel) Have opened stores globally at different countries such as Canada Weakness It has not opened stores in many countries. It has faced counterfeit/imitation of its products. Victoria secret Strength It has large customer base. Sell high quality products. Have a good structured marketing strategy. Weakness Some of the products sold by the Victoria secrets have limited sales in Asia Online selling platform has been criticized due to its poor navigation. Wildfox Strength Its products reflect the current trend in fashion Produce high quality products. Good customer and public relation. Weakness Few stores across the globe. Some of the products have a limited market especially for the western world. Opportunities for Sleep Pill Opening up new stores to other countries where the three countries have not exploited the market. Sell quality products and designed to the different market segments. Enhancing the online platform for easy navigation by consumers. Perception map High price Low quality High quality Low price Read More