Fashion Marketing Strategy for V&M

This assignment delves into the development of a comprehensive marketing strategy for a new fashion label named V&M. It outlines the key elements of the marketing mix, including product, price, placement, and promotion. The focus is on defining an effective positioning strategy for V&M, which involves analyzing its target audience, competitors, and unique selling propositions. The assignment also highlights the importance of aligning all aspects of the marketing mix with the chosen positioning goal to ensure a strong brand identity and market success.

Running head: MARKETING MANAGEMENT 1
Marketing Management
Name
Institution

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Table of figures
Figure 1.......................................................................................................................................................5
Figure 2.......................................................................................................................................................5
Figure 3.......................................................................................................................................................9

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Marketing Management
Question 1
Marketing is the process through which goods and services are produced in any
organization and introduced and continually promoted to consumers. Marketing is an activity
that should be at the heart of every business. Any organization that employs sound marketing
strategies will be able to enjoy increased sales in the short or long run. The umbrella of
marketing covers activities such as advertising, promotions, public relations and sales (Scott,
2017). A business that does not market its products, even if it may be offering the highest quality
of products in the entire industry, potential customers would not be aware about that and will
consequently not purchase the products.
Marketing is vital because it gets the word out about the existence of products, therefore
leading to high sales and increased profits. Additionally, it enables a business to establish itself
as a brand. One model that should be closely considered when carrying out marketing activities
is the Product Life Cycle Model (Pulizz, 2013). This model shows the different stages that occur
since the introduction of a product into the market until the product’s life ends. During the
introduction stage, the new product is unknown and it is very important to carry out marketing
activities to inform potential customers on the existence of the product.
When the products are in the growth stage, this means that the sales are gradually
increasing. Here, marketing is important because this is the stage where the product is
establishing itself as a brand. It is paramount to inform the existing and potential consumers the
benefits and unique features of the products to increase sales.

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The next stage is the maturity stage. This is the stage where the products are widely
known and they are competing with other brands. In many cases, the prices drop in this stage
because the volume of products is high and the companies enjoy economies of scale. It is vital
for the marketing process to continue to retain the customers and for the organization to keep
being competitive. Finally, when the product is reaching the end of its life, it enters the decline
phase (Dixon & Adamson, 2017). In this stage, the product’s price may rise and some
distributors may even drop the product. Marketing is important in this phase to remind customers
that the product still exists.
It is therefore very important to identify which stage the products are in so as to create a
marketing plan that is in line with that stage. Identifying the stage of the product also ensures that
the right marketing mix is created for the product.
Question 2
The market research process has different steps that should be well followed to ensure
that the marketing plan later created is effective. First, the purpose of undertaking the research
should be identified and the problem clearly defined. An appropriate research plan should then
be designed. This aids to save time when carrying out the research. Data should then be
collected. This stage is very important in the process and should be conducted as thoroughly as
possible (Baer, 2016). The collected data-both qualitative and quantitative-should then be
analyzed. Based on the findings, implementation then takes place. This is where the marketing
plan is created to ensure maximum productivity.
Purpose of research
Appropriate research plan
Data collection

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Data analysis
Implementation
Figure 1
Observational research aids in providing information concerning different areas where
interviews and questionnaires are inappropriate or impossible to reach. For instance, it can come
in handy in revealing how competitors are marketing their products in order to find ways to beat
them. It can however be too subjective and may be unethical in certain instances. Conversely,
experimental research provides clear cut conclusions. However, it can consume an extensive
amount of time (Handley & Chapman, 2012).
Question 3
Figure 2
One model of marketing communication is the PESO Model. This model requires that the
company identifies new members. It relates to the figure above. These are potential customers
targeted by the company through proper marketing. A marketing message comes from the

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organization. The message is transferred through different channels to strike an interest in
potential consumers (Robinson, 2016). This message may then convert some people into
customers who will then give their feedback by purchasing the goods and services. It is vital for
organizations to rise above the noise by creating compelling marketing messages and being
innovative in order to stand out.
Macro environment forces are external forces that affect a business’ performance,
decision making, and business strategies. They include legal, demographic, economic,
technological, natural, and social factors (Sufian, 2009).
Opportunities for soft drink manufacture include the presence of very many repeat
purchases, ability to reach a wide range of users, and an ability for the products to enter different
markets. Conversely, the threats include presence of many imitators and many competitors.
Question 4
There are four overarching strategies that focus on the marketing mix. First, there is need
to create customer excellence. This is created in a bid to retain customers by providing high
quality customer service. It is important for organizations to view their customers with a
perspective of lifetime value. Secondly, organizations should create operational excellence. This
is in terms of their supply chain management, human resource management, and in proper
management of all their other operations.
Third, it is paramount for organizations to exhibit product excellence. The products and
services that they provide should have effective brand positioning and high perceived value.
Finally, it is important for organizations to also have locational excellence. The organization
should be in a good internet presence and a strategic physical location (Sarich, Misra & Zaman,
2015). A business located in a good location is sustainable because it cannot be easily duplicated.

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One brand that I am loyal to is Coca Cola. This is because their products have excellent
branding and it constantly reinforces this image by providing beverages that are of a high quality.
The company also has very efficient supply chain management due to its sophisticated
information and distribution systems.
As the marketing manager of Coca Cola company, in order to maintain a competitive
advantage, I would apply Potter’s Five Force Model to ensure that the company remains
competitive. The competitive rivalry would be first assessed to ensure that prices are set in
accordance to the market. The supplier power would also be important in the setting of prices.
The buyer power would also be analyzed in order to decide the types of products to sell. These
could be giffen, luxury, or inferior goods (Dixon & Adamson, 2017). In the Coca Cola company
this distinction could be used for instance, in the packaging of the beverages. The threat of
substitution would also affect the product being sold. To avoid loss of customers, the products
could be increased in quantity, prices would be reduced or the quality improved. The threat of
new entry can also affect the marketing strategies being employed. To avoid new entrants from
becoming competitive, I would ensure that I employ different strategies such as price reduction
and continuous marketing to continue owning the highest market share.
Therefore, I would take the marketing mix into consideration before carrying out any
activities related to marketing. These include the product, price, placement, and promotion. The
marketing plan would then be organized around all these aspects.
Question 5
To determine the positioning strategy that is most appropriate for the new fashion label
V&M, there are different steps that should be undertaken. First, it is important to identify the
company’s current market positioning. This can be performed by viewing the company’s mission

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statement, value proposition, brand persona, and the core values. These elements will assist in
creating a strategy of brand positioning that is relevant to the target audience. It is also important
to consider the emotional, functional, economic, and self-expressive benefits that resonate most
with the target audience.
Next, it is vital to determine how the competitors are positioned. This involves an
identification of the top competitors and an analysis of their strengths and weaknesses. It is
important to identify the competitors’ unique factors as well as the company’s unique factors in
the eyes of the potential competitors.
The next step would be to create the brand positioning statement. This statement should
mention the target audience, the market definition, the unique factors and the proof of the
benefit. Finally, this statement should be implemented (Baer, 2016).
Perceptual maps are used by firms to aid them in developing positioning strategies for
their products or services in the market. They show where the products and services that are in
existence are positioned in the market. This in turn aids firms in deciding where they will
position their products (Sufian, 2009). Firms can position their products to fill gaps in the market
or they can position them where other firms have positioned their products to compete against
them. The figure below is a perceptual map of different vehicle brands.

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Figure 3
All the elements of the marketing mix, mainly product, must be focused at the positioning
goal. Failure to do this will result in a weak positioning result with a few repeat sales.
Incidentally, IKEA company has a vision of providing a wide range of innovative furnishings at
prices so low that as many people as possible can afford them. The company has incorporated
the people, price, and product aspects of the marketing mix into their product positioning.

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References
Baer, J. (2016). Hug Your Haters: How to Embrace Complaints and Keep Your Customers.
Portfolio.
Dixon, M., & Adamson, B. (2017). The Challenger Sale: Taking Control of the Customer
Conversation.
Handley, A., & Chapman, C. (2012). Content Rules: How to Create Killer Blogs, Podcasts,
Videos, Ebooks, Webinars (and More) That Engage Customers and Ignite Your Business. Wiley
publishing.
Pulizz, J. (2013). Epic Content Marketing: How to Tell a Different Story, Break through the
Clutter, and Win More Customers by Marketing Less. Elephant Audiobooks
Robinson, S. (2016). What is the PESO Model for Marketing?. Iterative Marketing.
Sarich, R., Misra, C., & Zaman, R. (2015). Discussion and analysis of the marketing strategy of
Coke Zero in the US market.
Scott, D. (2017). The New 6th Edition of The New Rules of Marketing & PR Shipping Now (6th
ed.).
Sufian, F. (2009). Determinants of bank efficiency during unstable macroeconomic environment:
Empirical evidence from Malaysia. Research In International Business And Finance, 23.