This paper analyzes the marketing analysis and sustainability marketing with competitive advantage of Tengri, a textile enterprise based in London, UK. It also provides strategic suggestions for improving sustainable business practices.
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Running head: SUSTAINABLE MARKETING OF TENGRI SUSTAINABLE MARKETING OF TENGRI Name of the student Name of the university Author Note
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1SUSTAINABLE MARKETING OF TENGRI Executive Summary The aim of this paper is to introspect, comprehend, analyze and interpret the marketing analysis and sustainability marketing with competitive advantage of Tengri, a textile enterprise based in London, the United Kingdom. To find out sustainable marketing and competitive advantage of Tengri, its marketing elements as well as its market positioning strategies are also discussed. The respective paper aims to provide certain strategic suggestions as to how Tengri might improve its sustainable business practices in the near future.
2SUSTAINABLE MARKETING OF TENGRI Table of Contents Executive Summary.....................................................................................................................................1 Introduction.................................................................................................................................................3 Discussion...................................................................................................................................................3 Conclusion...................................................................................................................................................8
3SUSTAINABLE MARKETING OF TENGRI Introduction Sustainable development in business or sustainability practices in the world of business has become one of the most important factors that an entrepreneur has to consider while functioning his business (Lii et al., 2013). In order to gain competitive advantage, a business is needed to act in a sustainable way so that they can gain long term reputation, prestige, goodwill and enhancement in productivity( Bascoul et al., 2013). The marketing arena of a business demands for sustainability in today’s global world. Sustainability can be achieved if the factors of sustainable development are properly found out, allocated and implemented. It is to be noted that more and more companies that are emerging as well as functioning in the present world are opting for sustainable marketing strategies in order to place their company in a better position in the global market and achieve competitive advantage than their peers. The aim of this paper is to introspect,comprehend,analyzeandinterpretthemarketinganalysisandsustainability marketing with competitive advantage of Tengri, a textile enterprise based in London, the United Kingdom. To find out sustainable marketing and competitive advantage of Tengri, its marketing elements as well as its market positioning strategies are also discussed. The respective paper aims to provide certain strategic suggestions as to how Tengri might improve its sustainable business practices in the near future. Discussion Tengri is a fashion and textile company of the United Kingdom, based in London. Tengri isassumedtobeacquiringitsrawmaterialsandclothesfromMongoliaandfromthe mountainous regions of Khangai. It has been established by Nancy Johnston in March 2014 (Tengri.co.uk, 2014). The company offers different products from variety of materials such as
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4SUSTAINABLE MARKETING OF TENGRI yarns,fabrics.ThecompanyoffersindigenousMongolianclothmaterialfibersthatare exclusively made from ,Mongolian yak wool. The products which Tengri sells to the customers are sustainable and environment friendly. Tengri is famous all through the United Kingdom for producing, selling sustainable products as well as practicing sustainability in their business. Marketing Mix Marketing mix of a company are the factors that can be controlled or/and influenced by the company to increase its customers as well as prospective customers and earn a reasonable amount of profit. Marketing Mix of Tengri 1.Product: One of the most important factors that come under marketing mix of Tengri is its unique and authentic products (Beng& Omar, 2014). Tengri is one of the most exclusive companies of the United Kingdom that produces premium quality high-yielding variety of wool specially derived from Mongolian yak skin. The products which Tengri offers are soft, finest, and thermal and heat regulating, breathable, allergy-resistant and also specially designed for providing resistance of odor and water. Their different and diverse variety of products it offers are hand knitted sweaters, scarf with special wool, ribbed and weaved socks, hand-knitted blankets and other knitted products. Tengri has a diversified catalogue and portfolio of products that helps them to cater to the needs of variety of customers with variety of requirements and preferences. Their expected turnover for the next four years, as they have estimated, is nearly 3 million pounds (Tengri.co.uk., 2014).
5SUSTAINABLE MARKETING OF TENGRI 2.Price: Pricing of the company Tengri is an important factor for consideration of the market mix of the company. The pricing of Tengri is premium as compared to the other companies or its peers in the global as well as local market. The price ranges of various products of Tengri, beginning from the scarves, sweatshirts and blankets revolve around 1900 pounds. Tengri also does not charge any shipping or conveyance cost from its customers. Such strategy means that Tengri is catering to the needs of the most exclusive customers of textile market of the United Kingdom. However, it is evident that the sustainable marketing strategies which Tengri has opted is the reason behind Tengri’s increase in cost of production which is leading to such premium cost of their products in the market (Kumar, Rahman & Kazmi, 2013). 3.Place: The fiber, raw materials, yarns and threads that Tengri uses is directly imported from Mongolia and the hills of Kanghai. The yarns and other organic raw materials they use are directly made from the distant and remote places of the world. Tengri seeks to produce products from organic fibers with exceptional quality of sustainability. Tengri is also well-known for coming into partnership negotiation with different companies from differentcountriestopropagateandselltheirproduct.Forinstance,Tengrihas partnership with a bedding company named Savior Beds and together, they produce the finest and luxurious handcrafted beds that the market can offer. Tengri is also in partnership with Joseph Chiney & Sons and together they produce one of the finest Khangai mountain Brogues which has been tagged as the world’s most sustainable footwear made with Khangai noble fibres, authentic of Mongolia, celebrating global heritage. Tengri sells its products via website and online marketing portal throughout the United Kingdom as well as The United States. It aims at delivering its products within 5
6SUSTAINABLE MARKETING OF TENGRI days of the orders placed. However, the “special order purchases” of Tengri are not refundable. The delivery charges of the country or state where the products are delivered is included in their product price. (Tengri.co.uk., 2014). 4.Promotion: With the help of the advanced information and communication technologies of the United Kingdom, Tengri promotes its business through its official websites and social media platforms (Burchell, Rettie & Patel, 2013). The official websites as well as the social media platforms and blogs of Tengri has not only helped in reaching the business to a myriads of customers, but have also helped in promoting as well as propagating their business in a broader arena (Domegan et al., 2013). Positioning analysis of Tengri The market positioning of Tengri is related to its premium products and premium price range. While the other competitors of the mentioned company offer premium products at low cost and poor quality products at high cost, Tengri is positioned in the intermediate designation of the market as it offers high-quality products at a premium price only to the exclusive yet diversifiedcustomerswhoarealsoethnicityandsustainabilityenthusiasts(Akpoyomare, Adeosun, & Ganiyu, 2013). Premier Textiles, which offers low quality products at high price and Merino Wool clothing, which offers high quality products at low price are the two major competitors and peers of Tengri. Not only is Tengri offering unique and authentic products, it is also maintaining its sustainability quotient in the market, which is completely unique than the
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7SUSTAINABLE MARKETING OF TENGRI other functional textile companies in the United Kingdom. While the other companies are focusing more on trends, fashion and styles in vogue, Tengri is concerned more about sober sustainable way of dealing with its products (McNeill & Moore, 2015). Sustainable Marketing Principles of Tengri Sustainable marketing principles are taken up by Tengri in order to maintain the stakeholders. Sustainable marketing can be broadly defined as investments and strategies of marketing that would ensure safety and integrity of the environment. Certain sustainable marketing steps that are taken by the mention company are social business model with a position of fair share where every individual involved in get his/her own fair share, their innovative approach to sustainability, partnership with business that propagates and upholds sustainability, inclusion of sustainable technologies in the marketing function and interconnected sustainability environment among the communities it is linked up with. Competitive advantage of Tengri Through various sustainability measures, Tengri has achieved success in the arena of competitiveadvantage.Tengriusesexclusiveandinnovativeapproachesinsegregating, processing and recycling of its wastes with the help of innovative technologies (Boons & Lüdeke-Freund, 2013). Tengri is also famous for abiding by and formulating the sustainability pillars in their business functions, namely, environmental, social and economic pillars, beginning fromorganizationalfunctionstomarketingfunctionsoftheenterprise.Apartfromsuch functions, Tengri also initiates and is enthusiastic about different partnership agreements and contracts and builds value, trust and cordial relationship among each other within the community
8SUSTAINABLE MARKETING OF TENGRI where they belong to. Philanthropic initiatives such as providing employment opportunities to the academic as well as professional students and candidates from Mongolia are also taken up by them which create a competitive advantage for them in the market (Andreopoulou et al., 2014). Improvements Required However, the company Tengri , even though practicing sustainable marketing strategies and schemes, is required to give more stress on certain issues. Tengri should create an awareness of their brand into a larger domain of prospective as well as functional customers( French & Russell-Bennett, 2015). It should make an attempt to increase the customer engagement level by optimizing the customers and their needs with the help of innovative social media techniques and software (Brindley & Oxborrow, 2014). Tengri company should end using plastic and synthetic fibers such as Angora fiber for their products as they are non-biodegradable and toxic for the environment and ecosystem (Katrandjiev, 2016). Tengri should stop the heinous tradition of animal testing of their products as it is unethical as well as illegal. Conclusion The report concludes by introspecting, comprehending, analyzing and interpreting the marketing analysis and sustainability marketing with competitive advantage of Tengri, a textile enterprise based in London, the United Kingdom. To find out sustainable marketing and competitive advantage of Tengri, its marketing elements as well as its market positioning strategies are also discussed. The respective paper concludes by providing certain strategic
9SUSTAINABLE MARKETING OF TENGRI suggestions as to how Tengri might improve its sustainable business practices in the near future. The paper hereby states that Tengri has always adopted sustainability approach in case of propagating and marketing of their products. The respective report studies in details the three pillars of sustainability which Tengri follows, the drawbacks of Tengri in such areas and gives recommendations to meet the requirements.
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10SUSTAINABLE MARKETING OF TENGRI References: Akpoyomare, O. B., Adeosun, L. P. K., & Ganiyu, R. A. (2013). Approaches for generating and evaluatingproductpositioningstrategy.InternationalJournalofBusiness Administration,4(1), 46. Andreopoulou, Z., Tsekouropoulos, G., Koliouska, C., & Koutroumanidis, T. (2014). Internet marketingforsustainabledevelopmentandruraltourism.Internationaljournalof business information systems,16(4), 446-461. Bascoul, G., Schmitt, J., Rasolofoarison, D., Chamberlain, L., & Lee, N. (2013). Using an experientialbusinessgametostimulatesustainablethinkinginmarketing education.Journal of marketing education,35(2), 168-180. Beng, L. G., & Omar, B. (2014). Integrating axiomatic design principles into sustainable product development.International Journal of Precision Engineering and Manufacturing-Green Technology,1(2), 107-117. Boons, F., & Lüdeke-Freund, F. (2013). Business models for sustainable innovation: state-of- the-art and steps towards a research agenda.Journal of Cleaner production,45, 9-19. Brindley, C., & Oxborrow, L. (2014). Aligning the sustainable supply chain to green marketing needs: A case study.Industrial Marketing Management,43(1), 45-55. Burchell, K., Rettie, R., & Patel, K. (2013). Marketing social norms: social marketing and the ‘social norm approach’.Journal of Consumer Behaviour,12(1), 1-9.
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12SUSTAINABLE MARKETING OF TENGRI Tengri.co.uk(2014). Available at: https://www.tengri.co.uk/