T-Shirt Challenge: Target Market, Design, Pricing Strategy, Teamwork, Competition, and Different Approach

This document discusses the target market, design, pricing strategy, teamwork, competition, and different approach in the T-Shirt Challenge. It explores how to capture the market, choose the right design, set the pricing strategy, manage teams, and stand out from the competition. The document also includes an income statement for the T-Shirt Company.

T shirt Challenge

Table of Contents
1. Target market of Company.....................................................................................................1
2. Reasons of choosing this Design ............................................................................................1
3. Pricing strategy of market........................................................................................................1
4. Team work, allocation and communication of team................................................................2
5. Competition for Product..........................................................................................................3
6. Different approach ..................................................................................................................3
REFERENCES................................................................................................................................6

1. Target market of Company
Target market is focused area in the market where company will formulate its marketing
strategies and tactics to capture the market share to increase its sales and growth. Company
required to target market on the demographic, geographical and physiological segment which
give the profitable sales to Company. Company required to target the market where competition
is not high that is underdeveloped nation that make easy for company to enter in market and
enjoy monopoly such as Nigeria, Sudan (Alalwan and et al, 2017). Company could target the
Male youth and children under the age of 15 – 30 in this group taste and style is almost similar
that is became easier for company to design their T shirt. It is not difficult to identify the needs
and requirement of each group segment as they prefer to wear trendy clothes and easy to attract
them because they do not think much before buy anything. They would come up with new
concept and strategy to attract the youth by providing discounted offers and affordable price to
initially grab their attention. Targeting the market is core decision in management, as it decides
the long term growth success of company as through this only they can formulate the further
marketing tactics and strategies.
2. Reasons of choosing this Design
This design is quite attractive in design that showing googles on the T-shirt which
everyone choose to wear this for fashion and trendy. It is simple and catchy in style and that it
was not much vibrant in colour which is not suitable for children. It is sober colour that was liked
and prefer by most of the consumer. T-shirt is targeting mostly youth and children who like to
choose the colour and design simple yet trendy. So, company has design this logo with a view to
consider the taste and preferences of targeted consumer (Chaffey and Smith, 2017).
3. Pricing strategy of market.
Company required to use prices discrimination strategy to enter in the market. This
strategy states the setting the price according to the status of buyer because the market they are
targeting is underdeveloped nation that is Nigeria and Sudan where consumer standard of living
is low and they will not prefer to buy products at high price. So, company need to evaluate the
status and buying power of consumer and accordingly set the price of product which is
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favourable for buyer. Company changes the price after they notice that buyer is able to spend
more than earlier and after that company can increase the price of their product. Selling of
product at lower price will attract the buyer to purchase and after capturing the market, getting
the trust of costumer company can increase the price. Many buyer were became habitual for
brand and they will hardly move to another because they are getting affordable T-shirt at best
quality. Lowering the price will help the company in their growth as they get large number of
costumer to purchase and demand will also increase (Deepak and Jeyakumar, 2019). Company
need to analyse the market competition and standard of living of buyer before setting the price of
product as it play important role in success of organisation. If fair pricing strategy done by them,
it will easy to capture the market as it crucial factor that decides the growth of business. Many
big organisation sometime fail in pricing strategy as it require lot of research in market and need
deep study of product that is deliver by them.
4. Team work, allocation and communication of team.
Team work is important task and responsibility for company to handle and make the
work done effectively by teams and proper functioning is crucial thing to manage in
organisation. It become quite difficult to do so as in teams various people has their different
nature and behaviour that impact the working of whole team. Formation of team is necessary
task for company to do, as it is their responsibility of task accomplishment. Company can divide
the various team as per their nature and task such as group of finance people form finance group,
IT member form IT department, sales and marketing in marketing group. According to the
similar nature and interest company decides the team and allocate the task to them and direct
them efficiently so that they know what they required to do. Company can communicate the
team through different methods such as meeting, one to one interaction, video calls or
conferencing and through email. Communication in team is important as it ensure the proper
function by transferring important messages to team member and it will increase the work
progress effectively (Gupta and Nair, 2020). It enable the company the take proper feedback
from members who are actually working at ground level and provide significant information.
T-shirt company is operating in Nigeria and Sudan so it require proper communication
with team member who were operating whole thing and can assist the company in the
formulation of operational plan and strategies. Company use to motivate the team through
appraising their work performance and recognition by awarding them from bonus and
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certification for their work which will influence them to work more harder. It is necessary to
understand the need of team and proper allocation of task will help the company to work
smoothly and effectively that lead to better growth and success (Moorman and Day, 2016).
5. Competition for Product
The Brand T-Shirt which provide t-shirts and sweatshirts promises to offers the classy
design which customers who are once accustomed to wearing the brand, do not shift from it
owing to its classy design and immense comfort. The brand focuses on to provide art of design of
simple, elegant style with high quality focused. The point of difference for T-shirt brand is to
offer innovative design considerations to add the elements of convenience and stylish and
affordable too. The brand guarantees finest quality material along with strength of every stitch
and comfortable skin friendly material for their clothing. The success lies in the understanding of
consumer taste towards the fashion (Hanssens and Pauwels, 2016). The t-shirt brand caught the
consumer trend with a fashion with a price tag which can be afforded. The brand aims to
provide best line of clothing, attitude, elegance a true portrait of manhood which leads to picture
perfect moment. The T- Shirt Brand wants to give consumers the clothing experience which
rediscovers the passion for sports, culture and tradition by hand-picking the best and finest
quality clothing making its product one of the most elegant one.
6. Different approach
Company might approach the different category to enter the market such as introducing
Sportswear product for young boys and children because there is good opportunity for company
to target the market as they already has buyer segment which is quite easy for targeting them for
sportswear. It pricing would be same which is lower price that influence them to buy. Generally
sportswear are quite costly but company can provide them at reasonable rate with good quality
that could proof as favourable step to penetrate the market but after achieving the buyer demand
they gradually increase the price of product. They can use the certain marketing and promotional
strategies to promote their new categories with existing product. Company required to use
pamphlet of sportswear in the shops of T-shirt where buyer get to know about their new range of
product and interested to try out (INDONESIA, 2018). Using the different style and approach
will increase brand awareness and reputation that will help in their promotion of existing
business also gives heights in their growth.
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Company required to be loyal to customer while approaching and building the healthy
relationship will help the business in long term growth. Before introducing the new category
company must require to analyse the needs and requirement of existing buyers. As in Nigeria and
Sudan this category is not much popular so, it is necessary to do market research before entering
into market. It might proof beneficial for them targeting same segment with different range or
category for that it require proper extensive marketing strategies and planning (Kotler, Kartajaya
and Setiawan, 2016).
Income statement: It is final representation of income and expenses values of company
during that particular period and shows the profitability status and financial condition of
company.
Profit & loss statement for the Tshirt Company
Particulars
Amount( D
r.)
Amount
(Cr.)
Sales 200
Expenses
Fixed cost
Advisement and marketing 20
Variable cost
Value of Tshirt
3*8
24
Tshirt Mono Print
5*8
40
Hooded Sweatshirt Mono
14*8
112
value of Tshirt mono Print 5
Value of Tshirt full Print 7
4

Hooded Sweatshirt Colour
print 16
Total expenses 224 224
Loss -24
Interpretation
Company has overall budget of 200 pounds to run its all activities and its expenses were divided
in two Variable cost with the value of 204 pounds and Fixed cost of 20 pounds. So after making
the P&L Account we concluded that company is incur loss of 4 pound due to higher value of
variable which is 204 pound that leads to loss for a company.
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REFERENCES
Books & Journal
Alalwan, A. A. and et al, 2017. Social media in marketing: A review and analysis of the existing
literature. Telematics and Informatics. 34(7). pp.1177-1190.
Chaffey, D. and Smith, P. R., 2017. Digital marketing excellence: planning, optimizing and
integrating online marketing. Taylor & Francis.
Deepak, R. K. A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Gupta, C.B. and Nair, R., 2020. Marketing Management, CB Gupta & N. Rajan Nair. Sultan
Chand & Sons.
Hanssens, D. M. and Pauwels, K. H., 2016. Demonstrating the value of marketing. Journal of
Marketing. 80(6). pp.173-190.
INDONESIA, M. P. I., 2018. Competitive advantage and product innovation: Key success of
Batik SMEs marketing performance in Indonesia. Academy of Strategic Management
Journal. 17(2).
Kotler, P., Kartajaya, H. and Setiawan, I., 2016. Marketing 4.0: Moving from traditional to
digital. John Wiley & Sons.
Moorman, C. and Day, G. S., 2016. Organizing for marketing excellence. Journal of Marketin.
80(6). pp.6-35.
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