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Marketing & Management : Assignment

   

Added on  2021-06-18

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Running head: MARKETING & MANAGEMENT1Marketing & ManagementInstitution Student CourseDate
Marketing & Management : Assignment_1
MARKETING & MANAGEMENT2Marketing & ManagementIntroductionThe Iconic (designed in the selected website as THE ICONIC) is an Australian sports retailer and online fashion based in Sydney[CITATION The18 \l 1033 ]. After being launched in 2011, the Iconic has been deemed to be the leading sportswear and fashion termini. From the time when it was launched, the brand has turned out to be the biggest Australian online fashion retailer stocking over 50,000 items and 700 brands, including Camilla and Marc, Lorna Jane, andAustralian labels Sass & Bide[ CITATION Sue16 \l 1033 ]. Some of the global brands stocked by theIconic include Calvin Klein, Levi’s, Adidas, and Nike[ CITATION The12 \l 1033 ]. Question 1The Iconic Company is doing quite pretty well when it comes to online marketing by use of various social media platforms. Its homepage, for instance, does attractively well and keeps things very simple. After landing on their site, one will see two major selections just above the fold (Shop Women and Shop Men). That shows that this homepage is mainly concerned with directing the visitors to the option of the site that they prefer or fits them. Everything on this site is all about assisting the client search for what they are looking for, displaying the Company’s products in the best probable light and attracting the customer in the best way possible. Moreover, The Iconic Company is marketing itself quite well online[ CITATION Ale14 \l 1033 ]. Forinstance, they are doing Dynamic Remarketing whereby they are advertising products they have posted on their website in other social media platforms such as Google’s Display Network, Facebook, Instagram, Twitter, Pinterest, and YouTube[ CITATION The18 \l 1033 ]. This online
Marketing & Management : Assignment_2
MARKETING & MANAGEMENT3marketing strategy has been proved useful to the Iconic since they are advertising the product that a potential customer has shown interest in when he or she goes to the website. Question 2 Virgillito, (2018) argues that market segmentation is among the ancient marketing tricks recorded in the books. With the consumer preferences and populations are becoming broader, as well as the competitive choices emerging more obtainable, market segmentation has turned out to be a crucial aspect of any company or marketing plan. In actual fact, businesses launch their commodities keeping in mind the market segmentation[ CITATION And16 \l 1033 ]. Young people, individuals at the age of the majority, sports people among others compose some of the key customers targeted by the Iconic Company. As discussed before, the Iconic targets both local Australian customers as well as the international ones. With this diversity, customer segmentation is clearly vital since the company will be able to divide its customers into say threemajor groups which replicate similarity amongst customers in every segment. They can, for instance, be segmented in terms of their geographic locations, their demographic variables (like age, income, nationality, and gender), and behavioral segmentation that is in terms of their preference, choices, usage, behavior, and decision making.The Iconic targets customers in diverse geographic areas that is, both locally and internationally. Thus geographic market segmentation will be an effective approach since customers in different parts of the world have different wants, needs, tastes, and preferences, as well as cultural features which can be specifically targeted[ CITATION Suj16 \l 1033 ]. Local and international customers use various social media platforms which are more convenient for them. The commonly used platforms by the Iconic include Facebook, Twitter, Pinterest, Google Plus,
Marketing & Management : Assignment_3

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