Strategic Management (Doc)
7 Pages1852 Words175 Views
Added on 2020-05-16
Strategic Management (Doc)
Added on 2020-05-16
ShareRelated Documents
Running head: STRATEGIC MANAGEMENTStrategic ManagementName of the Student:Name of the University:Author Note:
1STRATEGIC MANAGEMENTStrategic management can be defined as the process by means of which the variouscompanies as well as the organizations formulate and implement the various strategies onbehalf of its shareholders and owners (Hair et al., 2012). The development of these strategiesusually involves an analysis of the market situation as well as the external and the internalenvironments of the organization or the company concerned. The company selected for thestudy of strategic management is Kill_Kapture. The company Kill_Kapture, founded byMark Wales, an ex-SAS officer, who served in the Australian campaign of Afghanistan, isone of the famous companies in the Australian fashion industry ("Our Story", 2018). Theproducts manufactured by the company, like its leather jackets are priced at $1,500, therebymaking it a luxury product among the Australian citizens ("Our Story", 2018). Mark Wales,incorporated the design of the jackets used by the soldiers during the Afghanistan campaignfor the designing of his first product, the Pathfinder Jackets ("Our Story", 2018). Thecompany is also operational in the United States and the kangaroo leather jacketsmanufactured by the company in US are 10 times stronger than the ordinary ones ("OurStory", 2018).The products manufactured by the company are designed taking into consideration theneeds as well as the requirements of the customers and also the latest trends in the fashionindustry (Pérez, & del Bosque, 2015). It is a reflection of this fact that the company promotesits “Pathfinder Jackets”, through the advertisement, which features James Mattis, popularlyknown by the name of “Mad Dog”, a decorated officer of the US Marine Corps ("Our Story",2018). The company manufactures its products taking into consideration the requirements ofthe customers in the age group of 30 years to 40 years ("Our Story", 2018). The productsmanufactured by the company designed specifically to cater to the needs of the war veterans.However, the jackets manufactured by the company are also very popular among the civiliansas well. The primary focus of the company is on the war veterans, fire-fighters, naval officers
2STRATEGIC MANAGEMENTand others belonging to the defense sector ("Our Story", 2018). Moreover, as the productsmanufactured by the company are very expensive, therefore, the economic status of thecustomers also matter. The targeted customer base of the company is therefore the rich warveterans belonging to the age group of 30 to 40 years of age ("Our Story", 2018). It is to benoted that in the United States alone there are more than 22 million war veterans ("OurStory", 2018). The remark of Mark Wales is pertinent here, “We want to be an upliftingsource for veterans - we want to show them that we understand that it’s not easy to re-entersociety and that it’s also important to take their amazing skills and put them to good use”("Our Story", 2018). The company in order to capture as well as retain the customer baseprovides profit margins and costing benefits to the customers.Psychological segmentation can be defined as the process by means of which thetarget customer base is fragmented or divided on the basis of personality traits like attitudes,interests, values, lifestyle habits and various other aspects (Häusermann & Schwander, 2012).The process of psychological fragmentation helps the companies or the organizations todesign as well as manufacture their products and services as per the psychological needs andrequirements of the customers (Gellynck et al. 2012). The company Kill_Kapture, for themanufacture of its products like “Pathfinder Jackets”, “Kangaroo Jackets” and others takesinto consideration the psychological requirements of the target customer base ("Our Story",2018). It is to be noted that the target customer base of the company is the war veterans, fire-fighters, naval officers and others defense personnels belonging to the age group of 30 to 40years of age. It is to be noted that the owner of the company, Kill_Kapture, Mark Wales,designed the jackets based on the ones, which he himself used during the Afghanistancampaign of Australia, in which he participated ("Our Story", 2018). Thus, it can be said thatduring the process of designing of the jackets the psychological requirements of the war
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing Strategy and Planlg...
|7
|1683
|38