Seafolly Marketing Mix Analysis: Product, Price, Promotion Strategies

This report examines the marketing mix strategies of Seafolly, focusing on product, price, and promotion. It analyzes how Seafolly utilizes these strategies, linking them to relevant marketing theories such as competitive pricing, premium pricing, and pull theory of promotion. The report also offers recommendations for improvement, suggesting the adoption of a combination promotion theory and psychological pricing to enhance sales and customer engagement. Ultimately, the goal is to provide actionable insights for Seafolly to strengthen its market position and increase profitability. Desklib provides access to similar solved assignments and study resources.

Examination of marketing mix
strategies of Seafolly
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Executive summary
The purpose of this paper is to focus on the three marketing mix of Seafolly; price, promotion,
and product. Furthermore, this paper will also explain the marketing strategies with the help of
theories. Moreover, it will also discuss how the marketing mix strategies of the company can be
improved.
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Table of Contents
Introduction.................................................................................................................................................3
Observation and research.............................................................................................................................3
Examination of the marketing mix of Seafolly........................................................................................3
Discussion of brand’s marketing mix strategies linked with theories..........................................................3
Recommendations.......................................................................................................................................5
References...................................................................................................................................................6
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Introduction
This paper will review the three marketing mix of Seafolly; its products, promotion, and price.
Furthermore, it will also explain how the company uses the marketing mix strategies with the
help of theory. Moreover, this paper will recommend how Seafolly can improve their marketing
mix strategies.
Observation and research
Examination of the marketing mix of Seafolly
Product
Seafolly is known as the largest swimwear brand all over Australia and their products include
over 2515 swimwear, Activewear, accessories and Seafolly Girls. They also have a variety of
unique and stylish products for babies, children, and toddlers. Seafolly also own Sunburn, which
is a multi-brand retail shop with 24 stores across Australia.
Promotion
Seafolly has adopted many advertising and promotional strategies to increase the demand for
their products by associating them to beach lifestyle. They have paired with famous models like
Jessica Hart, Miranda Kerr, Gigi Hadid and Samantha Harris to promote their brand both
domestically and internationally (Khan, 2014). They offer various discount offers and gift cards
to promote their brand along with facilities like free returns after 31 days, fast shipping and
allows the customers to pay using Afterpay.
Price
Each sub-brand of Seafolly has a different pricing strategy and their pricing strategy depends on
their competitor Bondibeachbag. The company has wide ranges of products which are available
for a wide range of prices (Arora and Sanni, 2018). The pricing strategy of the company is
mainly based on geographic segmentation of the market (Kienzler and Kowalkowski, 2017).
Discussion of brand’s marketing mix strategies linked with theories
Seafolly offers a wide range of products to their domestic and international customers at a
reasonable price. Due to the fierce competition from their competitor Bondibeachbag, they have
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used the theory of competitive pricing method to set the price of their products. They use the
theory of premium pricing to differentiate their products from others. They also use the approach
of promotional pricing to attract more customers towards the company (He et al., 2017). They
use the pull theory of promotion to promote their products (Andrews et al., 2016). They have
paired with many famous celebrities like Gigi Hadid, Samantha Harris etc. to increase the
demand for their products in the market (Barillas and Shanken, 2018). They have also introduced
many new products to attract more customers towards Seafolly. This allows the company to
increase their overall revenue and profitability.
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Recommendations
It is recommended that Seafolly uses the combination theory of promotion, which uses the
concepts of both push and Pull theory to increase the level of sales of the company. With the
help of this theory, they will be able to provide more products in the stores of their retailers as
well as increase the demand for their products in the market. It is also recommended that along
with premium pricing and competitive pricing, they should employ the technique of
psychological pricing to efficiently promote their products among the customers of the market.
This should allow the customers to form an emotional bond with the company which will
increase the sales of Seafolly. All these pricing techniques will allow the company to attract
more customers thereby increasing their overall profit and revenue.
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References
Andrews, M., Goehring, J., Hui, S., Pancras, J. and Thornwood, L., 2016. Mobile promotions: A
framework and research priorities. Journal of Interactive Marketing, 34, pp.15-24.
Arora, A.S. and Sanni, S.A., 2018. Ten Years of ‘Social Media Marketing’Research in the
Journal of Promotion Management: Research Synthesis, Emerging Themes, and New
Directions. Journal of Promotion Management, pp.1-24.
Barillas, F. and Shanken, J., 2018. Comparing asset pricing models. The Journal of
Finance, 73(2), pp.715-754.
He, Z., Kelly, B. and Manela, A., 2017. Intermediary asset pricing: New evidence from many
asset classes. Journal of Financial Economics, 126(1), pp.1-35.
Khan, M.T., 2014. The concept of'marketing mix'and its elements (a conceptual review
paper). International journal of information, business, and management, 6(2), p.95.
Kienzler, M. and Kowalkowski, C., 2017. Pricing strategy: A review of 22 years of marketing
research. Journal of Business Research, 78, pp.101-110.
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