This document discusses the concept of sustainability marketing and explores the strategies used by Icebreaker, a clothing industry known for its sustainable practices. It covers the marketing-mix strategies, including product, distribution, promotion, and pricing. The document also provides recommendations to improve Icebreaker's marketing strategy.
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Running head: SUSTAINABILITY MARKETING Sustainability Marketing Name of the Student: Name of the University: Author Note:
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1SUSTAINABILITY MARKETING Table of Contents Company Background................................................................................................................2 Marketing Strategies concerned with Icebreaker.......................................................................2 Marketing-Mix.......................................................................................................................3 Recommendations to improve the marketing strategy...............................................................6 Market Situation of the Organization.........................................................................................6 Conclusion..................................................................................................................................7 References..................................................................................................................................8
2SUSTAINABILITY MARKETING Company Background The company concerned in this particular report is named Icebreaker. With the help of the past studies, it is examined that Icebreaker is a clothing industry that works with the merino wool outdoor consideration as well as the natural outdoor sector in the aspect of manufacturing their products (Hoover 2016). Founded by Jeremy Moon in the year of 1995, it is considered to be headquartered in Auckland, a region in New Zealand. It is known to be purchased by the VF Corporation, an entity which was listed on the NYSE in the fiscal year of 2018. The vital sustainable principles of the Icebreaker Company is known to be designed and established in a concern that the organisation can attain its sustainable goals with the philosophy of using the synergy of natural fibres while manufacturing its own clothing products (Swaffield and Winchester 2016). Along with this, the company is known to work with a sustainable approach that relates to causing zero harm to animals. Specifically, not using the animals in the concern of producing the clothes that are offered to the customers (its products are natural, but involves no animal skin). Marketing Strategies concerned with Icebreaker The business practices related to the aspect of its marketing strategies have recorded to be widened as well as developed with the frequent changes that are taking place in the modern business market (Wirtzet al.2016).The aspect and philosophy of marketing strategies started from focusing on the attempt of the business organisations towards the study and research of its marketing needs. At present, the same targets in a broader concept of the strategic roles and plans that are connected to the marketing philosophies of the complete business organisation and its corporate strategies. In this concern, it was analysed that the concept of marketing at present includes the decisions of the operational department as well as thefinancial department of the firm (Feng, Morgan and Rego 2015). In addition, the other
3SUSTAINABILITY MARKETING sectors covered by the marketing strategies is the marketing-mix strategies a company is to implement in its organisation (Kolb 2016). Marketing-Mix The practices in business that is related to the marketing mix are known to occur since last several decades and are considered to help the productive business organisations to place the correct product in the correct combination at the correct place at the correct point of time (Lancaster and Massingham 2017). However, the past studies show that marketing-mix and its study is multifaceted and challenging. This is because the marketing-mix strategies are known to involvethe entire details involved in business transactions (Chaffey and Ellis- Chadwick 2019). In light of this, the given report shades the marketing-mix strategies that are used by the clothing industry of Icebreaker, to understand whether the same is valid or not. The same is discussed below. Product The products of a company are produced and sold in the synergy of selling the same to the end market and gaining the desired amount of profit as well as revenue from the same (Lee, Sridhar and Palmatier 2017). A product of a business entity is determined to be one of the vital factors which helps the same to build a competitive advantage in the business market and satisfy the unique needs and demands of its potential as well as casual customers (Huang et al.2016). Customers are known to be connected to a business enterprise only when they are to purchase any amount of goods or services from the company. Therefore, with the help of the studies, it is seen that the clothing firm named Icebreaker has built its product in a manner that the same has grabbed the prior attention of the customers to stay loyal to the company (Scott 2016). The above part of the paper significantly shows that the company uses the synergy of natural fibre in consideration of manufacturing its final clothing products. This
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4SUSTAINABILITY MARKETING natural fibre used by the company is concerned to be beneficial for both the customers as well as the company. The customers get the skin-friendly products as well as the company gains a higher amount of profit, respectively.Thus, it can be stated that the organisationof Icebreaker is known to achieve a different level of paradigm in the aspect of brand loyalty and competitive advantage as compared to its peer competitors. Distribution (Place) The distribution or the placement strategy as the component of marketing-mix is recognised as the target place where the business organisation actually gets into the synergy of selling its products to its specified target market (Ranagswamy 2018). Concerning to this ideology of distribution component of the marketing-mix strategy, with the help of the above analysis of the report as well as other secondary sources that the company of Icebreaker has effectively set its distribution strategy based on the demographic factors of the nation the same is established in. In consideration of this, the company turned capable enough of planning its supply chain activities concerning to the age as well as the income background of the society (Christopher 2016). This is because these two factors were considered to be the most important in the field of selling clothing products to different individuals. Moreover, the company also recognized the rate of birth as mortality of the individuals in the society to understand the demand and supply of the clothes production rate. In light of this, it can be stated that the demographic segmentation of the distribution strategy helped the organisation of Icebreaker to differentiate its customers as per the diversified choices and needs of every single customer. Promotion As stated by Hairet al.(2015), the business organisations effective in the present business market have several means through the help of which they can effectively promote
5SUSTAINABILITY MARKETING their business. Out of these available means and modes of advertising and developing one's business, the clothing firm of Icebreaker is known to take up its marketing strategy of promotion by implementing the traditional way of advertising in the newspapers, magazines as well as radio(Weinberg and Mares 2015). In additionto this, the online media platform of Facebook, LinkedIn, Google Advertisements, as well as Twitter, is taken into consideration. This helps the company to grab the attention of both the online users of the new generation as well as the offline users as well. As stated byVan Eemeren and Henkemans (2016), there are still some people in the society whobelieves in the traditional way of communication. In lieu of this, many old and new generation has entirely shifted to the synergy of online media communication. Thus, the compelling research study of the R&D team of the Icebreaker Company has realised the importance of using both the communication media as their advertising tools which would help the same to promote its clothing products effectively and efficiently. Price Recorded as per the viewpoint of Landy and Conte (2016), the pricing strategy of a business organisation should be set with a complete concentration towards the current study of the business industry the organisation operates in. This is because the customers are known to be the most sensitive towards the price of the products or services they desire to purchase. Thus, with the help of the past studies, it is recognised that the company of Icebreaker have been determined to use the synergy of flexible pricing strategy based on the different type and the quality of the cloth fibre (Marek and Martinkova 2017). However, the company have been recognised to provide its business clients and customers with the synergy of better offers and discounts which attracts the customer to the company and also stay loyal to the company.
6SUSTAINABILITY MARKETING Recommendations to improve the marketing strategy Although the marketing strategy used by the company of Icebreaker have been recorded to provide practical benefit to the same and also maintain its marketing activities in a significant manner, it does have some drawbacks that create a barrier for the same to be on the first paradigm. Thus, the given report tends to specify some strategic recommendations that will help the relevant company under discussion here in the paper to improvise the synergy of its marketing-mix strategies and satisfy both the customer as well as the organisational goals. ï‚·Considering the company as the customer and then preparing the product and fixing the pricing strategy of the same (Nagle and Muller 2017). ï‚·Applying better manufacturing habits that its peer competitors and thereby gaining a stronghold in the business market. ï‚·Keeping prior pace with advanced and innovative technological changes. ï‚·Studying the behavioural approach of its customers by demanding feedback from them on every purchase the customermakes (Melero, Sese and Verhoef 2016). ï‚·Continuous and frequent changes in the target base of the customers, as the population of the world, is known to change on a daily basis. Market Situation of the Organization With the help of the studies, it is investigated that Icebreaker lies quite ahead of its peer competitors in the synergy of maintaining the quality of its product (Pawson and Perkins 2017). In addition, the company is also known to maintain the quality as well as the pricing strategy of its products in an effective way.
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7SUSTAINABILITY MARKETING High quality Low quality High priceLow price Figure 1: Market Positioning Analysis of Icebreaker and its top competitors (Source:By Author) Conclusion Hence, with the help of the above study, it can be concluded that the critical sustainable principles used by the company of Icebreaker are practical as well as recognisable ones. With the effective use of manufacturing clothes with the use of natural fibre, the company has been abletokeepitscustomerssustainedinthebusinessorganisation.Moreover,this implementation has also helped the company to gain a profound level of brand loyalty in the industry of clothing business market as compared to its competitors.
8SUSTAINABILITY MARKETING References Chaffey, D. and Ellis-Chadwick, F., 2019.Digital marketing. Pearson UK. Retrieved from: https://books.google.co.in/books?hl=en&lr=&id=- 1yGDwAAQBAJ&oi=fnd&pg=PT20&dq=the+marketing- mix+strategies+are+known+to+involve+the+entire+details+involved+in+the+business+trans actions+&ots=XhVrbVmP54&sig=sYGPlfLtwlUrGLfuEepkDI87vLc&redir_esc=y#v=onepa ge&q=the%20marketing-mix%20strategies%20are%20known%20to%20involve%20the %20entire%20details%20involved%20in%20the%20business%20transactions&f=false Christopher, M., 2016.Logistics & supply chain management. Pearson UK. Retrieved from: https://books.google.co.in/books? hl=en&lr=&id=NIfQCwAAQBAJ&oi=fnd&pg=PT7&dq=supply+chain+activities+concerni ng+to+the+age+as+well+as+the+income+background+of+the+society+&ots=x286JyDppy& sig=rf4DQS6tFc3Oknfsvr7uaG1Nwiw&redir_esc=y#v=onepage&q&f=false Feng, H., Morgan, N.A. and Rego, L.L., 2015. Marketing department power and firm performance.JournalofMarketing,79(5),pp.1-20.Retrievedfrom: https://pinnacle.allenpress.com/doi/abs/10.1509/jm.13.0522 Hair Jr, J.F., Wolfinbarger, M., Money, A.H., Samouel, P. and Page, M.J., 2015.Essentials ofbusinessresearchmethods.Routledge.Retrievedfrom: file:///C:/Users/LAPTOP_MP0375/Downloads/9781315704562_googlepreview.pdf Hoover,J.W.,2016.LandscapesofWoolProduction.UniversityofCalifornia,Davis. Retrievedfrom: https://search.proquest.com/openview/1335c1fba764e3784a7a2702caf7c6f9/1?pq- origsite=gscholar&cbl=18750&diss=y
9SUSTAINABILITY MARKETING Huang, K.E., Wu, J.H., Lu, SY. and Lin, Y.C., 2016. Innovation and technology creation effects on organisational performance.Journal of Business Research,69(6), pp.2187-2192. Retrieved from:https://www.sciencedirect.com/science/article/abs/pii/S0148296315006530 Kolb,B.M.,2016.Marketingstrategyforcreativeandculturalindustries.Routledge. Retrievedfrom: file:///C:/Users/LAPTOP_MP0375/Downloads/9781315691336_googlepreview.pdf Lancaster, G. and Massingham, L., 2017. The development of a strategic approach to marketing: Its culture; internal macro-and external micro-environmental issues. InEssentials ofMarketingManagement(pp.1-32).Routledge.Retrievedfrom: https://www.taylorfrancis.com/books/e/9781315177014/chapters/10.4324/9781315177014-1 Landy, F.J. and Conte, J.M., 2016.Work in the 21st century, Binder-ready version: An introduction to Industrial and Organisational Psychology. John Wiley & Sons. Retrieved from:https://books.google.co.in/books? hl=en&lr=&id=NIWbCgAAQBAJ&oi=fnd&pg=PP15&dq=the+pricing+strategy+of+a+busi ness+organization+should+be+set+with+complete+concentration+towards+the+current+stud y+of+the+business+industry+the+organization+operates+in&ots=G1XoYI_PBS&sig=xeK61 nLZ7zPCWMqhsq_QSu0i3V8&redir_esc=y#v=onepage&q&f=false Lee, J.Y., Sridhar, S. and Palmatier, R.W., 2017. The effect of firms' structural designs on advertisingandpersonalsellingreturns.InternationalJournalofResearchin Marketing,34(1),pp.173-193.Retrievedfrom: https://www.sciencedirect.com/science/article/abs/pii/S0167811615301464 Marek,J.andMartinkova,L.,2017.15.1PPE:Astrategiccommodityofthe market.Waterproof and Water Repellent Textiles and Clothing, p.391. Retrieved from: https://books.google.co.in/books?
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10SUSTAINABILITY MARKETING hl=en&lr=&id=AoiZDgAAQBAJ&oi=fnd&pg=PA391&dq=the+company+of+Icebreaker+h ave+been+determined+to+use+the+synergy+of+flexible+pricing+strategy+based+on+the+di fferent+type+and+the+quality+of+the+cloth+fiber+&ots=hhKgxzGNHG&sig=ULtbgQ66sP 3CmsRi36mtLQBDaaQ&redir_esc=y#v=onepage&q&f=false Melero, I., Sese, FJ and Verhoef, P.C., 2016. Recasting the customer experience in today’s omnichannel environment.Universia Business Review, (50), pp.18-37. Retrieved from: https://www.redalyc.org/pdf/433/43345993001.pdf Nagle, T.T. and Müller, G., 2017.The strategy and tactics of pricing: A guide to growing moreprofitably.Routledge.Retrievedfrom: https://www.taylorfrancis.com/books/9781315185309 Pawson, E. and Perkins, H.C., 2017. New Zealand going global: The emerging relationships economy.AsiaPacificViewpoint,58(3),pp.257-272.Retrievedfrom: https://onlinelibrary.wiley.com/doi/abs/10.1111/apv.12170 Rangaswamy, A., 2018. The Two Stars of Marketing Analytics: Automated and Directed Systems.Handbook of Advances in Marketing in an Era of Disruptions: Essays in Honour of JagdishN.Sheth,p.401.Retrievedfrom:https://books.google.co.in/books? hl=en&lr=&id=1SOBDwAAQBAJ&oi=fnd&pg=PT299&dq= %09The+distribution+or+the+placement+strategy+as+the+component+of+marketing- mix+is+recognized+as+the+target+place+where+the+business+organization+actually+gets+i nto+the+synergy+of+selling+its+products+to+its+specified+target+market+&ots=BrBs- QPhwa&sig=5FJW8vHX3Uo1Ng-OzZ1ts1tI8uA&redir_esc=y#v=onepage&q&f=false Scott, D.M., 2016.The New Rules of Sales and Service: How to use agile selling, real-time customer engagement, big data, content, and storytelling to grow your business. John Wiley &Sons.Retrievedfrom:https://books.google.co.in/books?
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