Marketing Strategy Research Report: Uniqlo Company and Sales Boost

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This research report focuses on improving the marketing strategy of the Uniqlo Company to boost sales volume. It begins with an executive summary and an introduction to Uniqlo, including its mission and vision statements. The report delves into a literature review covering marketing strategy, strategic choices, marketing mix, and analysis tools like PESTLE. The methodology section outlines the research design, sampling, and data collection methods, including primary research through customer surveys and secondary research using annual reports. Data analysis includes PESTLE and SWOT analyses, market segmentation, competitor analysis, and internal analysis. The report concludes with recommendations to improve product offerings, enhance promotional activities, and optimize store design. Customer research is incorporated to determine customer needs and preferences, and the research emphasizes the importance of fashion trends, brand image, and storage design in driving sales. References and an appendix with Uniqlo customer research are also included.
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Uniqlo company
Research Report
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Table of Contents
Executive Summary.........................................................................................................................3
Chapter- 1........................................................................................................................................4
Introduction......................................................................................................................................4
Aim of the study...........................................................................................................................4
Introduction of Uniqlo Company.................................................................................................4
Mission statement of Uniqlo Company.......................................................................................4
Vision statement of Uniqlo Company..........................................................................................4
Research question........................................................................................................................5
Research objective.......................................................................................................................5
Background of the study..................................................................................................................5
Chapter- 2........................................................................................................................................6
Literature review..............................................................................................................................6
Analysis and its tools...................................................................................................................6
Marketing strategy and strategic choices.....................................................................................6
Marketing mix and its elements...................................................................................................7
Pestle analysis..............................................................................................................................7
Strategic choices and Marketing..................................................................................................8
Chapter -3........................................................................................................................................8
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Methodology....................................................................................................................................8
1. Research design....................................................................................................................8
2. Sampling and Data collection procedures............................................................................8
2. Data analyzing tools.............................................................................................................9
Chapter- 4......................................................................................................................................10
Data analysis..................................................................................................................................10
1. Pestle analysis.....................................................................................................................10
2. Market segmentation..........................................................................................................10
Market overview.............................................................................................................10
Markets segments............................................................................................................11
3. Competitors analysis...........................................................................................................12
4. Internal analysis..................................................................................................................12
5. SWOT analysis...................................................................................................................21
Competitive and growth strategy...............................................................................................21
Chapter-6.......................................................................................................................................23
Recommendations..........................................................................................................................23
Conclusion.....................................................................................................................................23
Reflective report............................................................................................................................23
References......................................................................................................................................25
Appendix........................................................................................................................................28
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Uniqlo Customer research..........................................................................................................28
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Executive Summary
The research is conducted on the Uniqlo Company in order to improve the marketing strategy of the
company which directly boosts the sales volume of the company. The primary and secondary research
method is used to conduct the research. The secondary research is conducted through accessing the
annual reports and sensitive information of the company and primary research is the customer survey
through questionnaire in order to determine the customer needs and preferences which are required to
improve the marketing strategy of the company. The results shows that the company needs to improve the
products through providing fashion trends clothing to the target audience, more promotional activities
needs to be conducted in order to improve the brand image in the eyes of the customers and storage
designing needs to be improved which helps to improve the sales volume of the company.
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Chapter- 1
Introduction
The focus of the research study is to improve the marketing strategy of the Uniqlo Company in order to
boost the sales volume within the particular period of time. The marketing strategy plays an important
role in enhancing the revenue generation through attracting the target audience which enables to achieve
the mission and vision of the company. According to the Drucker et al., 1973 the strategic marketing is
defined as the process which comprised of business factors, environmental analysis and market
competitive which impacts the business units strategies. It includes the choosing of market target
strategies for the target audience in order to enhance the sales volume of the company. Hart & Stapleton
et al., 1977 explains that the marketing strategy is a statement which helps to achieve the marketing
objectives for example gaining competitive advantage in order to stand out among the competitors with in
the same industry. The marketing is a process which is used to develop the interest of the customers in
order to maximize the sales volume of the company.
Walter et al., 1992 states that the strategic marketing is related to the coordination of marketing resource
which helps to provide the competitive advantage to the company. Harper &Bagh et al., 1990 states that
appropriate case needs to be understand in order to improve the marketing objective of the company.
Lambini et al., 1997 states that the opportunities are determined through external analysis. The market
strategy should be centered in order to achieve the marketing objective which leads to accomplish the
long-term goals of the company. Aramario&Lambin et al., 1991 states that the marketing strategy is
oriented towards the achievement of long-term objectives of the company.
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Aim of the study
The aim of the research study is to determine the measures in order to improve the marketing strategy of
the company.
Introduction of Uniqlo Company
The Uniqlo Company is a Japanese casual wear which is completely owned by the fats retailing company.
The company currently operates in fourteen countries other than the Japan. It is founded in the year 1949
at japan. The total employees of the company are approximately 30,000, and the company comes to the
fashion retail industry ("Mens, Womens & Childrens Clothing | Lifewear | UNIQLO UK," 2017).
Mission statement of Uniqlo Company
The mission statement of the company states that the company provides the high quality of products and
services to all the categories of social groups in order to make them feel better which enables to change
the world little better. The company is continuously improving its unique style through innovative skills
and technology in order to provide the competitive advantage to the company.
Vision statement of Uniqlo Company
The vision of the company to become world’s number one casual apparel brand through satisfies the
customers with the high quality of products and services. The company is using management model in
order to control the production which minimizes the retail prices.
Research question
The following research questions are designed to determine the measures in order to improve the
marketing strategy of the Uniqlo Company:
1. What is the current marketing strategy of the company?
2. What are the most effective promotional activities of the company?
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3. How to improve the marketing strategy of the company in order to boost the sales
volume?
Research objective
1. To determine the current marketing strategy of the company.
2. To determine the impact of marketing strategy on the sales volume of the company.
3. To determine the most effective promotional tool for the company.
4. To determine the key resources for developing the competitive advantage to the company.
Background of the study
According to the Bradley et al., 1991the strategic marketing is defined as the process which is
based on the target market segments, marketing objective, policies and marketing positioning of
the company. Ansoff et al., 1985 states that the profitability is one of the elements which is used
to develop the market strategy in order to achieve the marketing objective within the specific
period of time. Boyd et al., 1998 states that the analysis activity is one of the important activities
which is used to develop the marketing strategy. Lambin& Jean-K Jacques et al.., 2000
mentioned that the good analysis leads to the development of good strategic marketing plan. Day
et al., 1986 states that there are seven determinants which are used to develop the strategic
marketing plan, namely, flexibility, profitability, vulnerability, validity, feasibility, coherence
and opportunity. Drummond et al., 2001 states that the in-depth understanding of marketing and
its environment helps to formulate the good strategic marketing plan.
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Chapter- 2
Literature review
In this chapter, we will discuss the theoretical framework of the marketing strategy and the
conceptual background. The purpose of the literature review is to provide the background to the
current research about the marketing strategy and its impacts on the sales volume of the
company.
Analysis and its tools
According to the McDonald et al., 1999 the marketing strategy shows the bets opinion to
the company which enable to develop the profitability of the company through applying
the resources and skills within the particular period of time. Aguilar et al., 1967 states
that the environmental scanning enables to determine the information related to the
outside environment of the company. The external environment is divided into the
operating environment includes regulatory, political, social, technological and economic
conditions. Broadman et al., 2004 state that the strategic analysis includes three main
analyses, namely, fulcrum analysis, external analysis and solution analysis. The research
is conducted by the Boardman et al., 2004 in order to resolve the strategic issue. Porter et
al., 1980 states that the external environment analysis helps to determine the threat and
opportunities in order to stand out among the competitors within the same industry. The
external environment is divided into two categories, namely micro environment and
macro environment. The pestle framework is developed by the Johnson et al., 2008 which
is used to scan the macro environment. Johnson et al., 2008 states that the SWOT
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analysis is used to develop the strategic options and the future action which helps to
provide competitive advantage to the company within the particular period of time.
Kotter et al., 1991 states that important to determine the vital elements at the time of
analyzing macro-environment.
Marketing strategy and strategic choices
According to the Walker et al., 1992teh main purpose of a marketing strategy is to coordinate
and allocate the marketing resources which helps to achieve the marketing objectives within the
specific period of time. The marketing strategy involves the specification of target market
strategy in order to offer the product line to the consumers. Then the competitive advantage will
be gained by the company which helps to stand out among the competitors within the same
industry. The different level of generic options can be used by the company through using the
porters generic strategic (Walker et al., 2014). Thompson &Stricklan et al., 2003 states that the
implementation of the strategy is the most difficult part of the strategic management process.
Johnson et al., 2008 states that the decision making needs to be maintained by the company
according to the industry in which the company deals and once the decision is taken the strategic
direction needs to be develop in order to achieve the goals and objective of the company. Kotler
et al., 2008 states that the marketing plays a critical role in developing the strategic plan as it
provides the inputs such as information in developing the strategic plan (West et al., 2015). The
strategic planning is the first step of the marketing plan which plays a critical role in generating
the revenue within the specific time framework. Kotlet et al., 2008 further states that it is the
strategic plan which helps to develop the logic in order to achieve the sales volume of the
company (Baker et al., 2014). According to Levie et al., 2006 the aim of the market
development strategy is to provide the competitive advantage to the company which helps to
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stands out among the competitors within the same industry. The newest scientific article on the
topic strategic management and organizational behavior states that approximately 71% of the
company’s performance is based on the dependent variables whereas 12% are independent
variable and 11% are dependent as well as independent variable.
Marketing mix and its elements
The market strategies are mainly developed to determine the target audience and to develop the
values for the target group. The marketing tools have four tools, namely, price, product, place
and promotion which are used to implement the marketing strategy for the company (Ferrell et
al., 2014). Kotler et al., 2010 states that the advertisement is used inform the large number of
target audience about the products and services which are offered by the company. Kotler et al.,
2010 further explains that the advertisement is the part of promotional mix which includes direct
marketing, personal selling, direct marketing, and public relations. Rix et al., 2007 states that the
brand name is promoted through advertisement and it is shown from the study that the brand can
also connect with the emotions of people. Sutherland et al., 2008 states that the television
advertisement enables get the consumer attention more than other promotional tools as the visual
effect helps to get higher attention than audio effect (Bennett et al., 2015). Rigby et al., 2011
argues that the role of advertisement is changing through digital retailing because it seems to be
more convenient which threatens the retailing shopkeepers (Sheth et al., 2015). Silverstein and
Sayer et al., 2009 states that the marketers do not understand the significance of women
audience. They further explain that the appropriate market research is not conducted on the target
women as it is assumed that the women are getting what they want (Rothaermel et al., 2015).
According to the Graves et al., 2010 the advertisement helps to influence the unconscious needs
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of the consumers which are not necessarily needs to them. The study of consumer behavior helps
to determine the ideas, needs and demand which enable to satisfy the consumers through
providing the products and services within the specific period of time. Solomon et al., 2002
states that the perception is the defied as the process which is used to interpret the sensation by
the consumers and the sensations are derives from the five sensations. Bohdanowicz and clamp
et al., 1994 states that the perception can be implement in the brand, store and product
positioning (Solomon et al., 2014).
Pestle analysis
According to the Johnson et al., 2008 the porter’s analysis is used to evaluate the macro
environment of the company through evaluating the industry segment within the specific period
of time. Dibb and Simkin, 1996 states that the market segmentation is used to determine the
opportunities in the market through analyzing the market within the specific time framework.
Byars et al., 1991 states that the marketing mix is used to design the price, product, place, and
promotion according to the customer group. The customer segment analysis helps to determine
the market opportunities in order to determine the competitive advantage to the company.
Johnson et al., 2008 states that the strategic group analysis is used to determine the strategic
opportunities by dividing the industry into the group of companies which have similar
characteristic (Zalengera et al., 2014). Henry, 2008 states that the internal analysis is used to
determine the competitive advantage through determining the strength and weakness of the
company. Hensterly, 2007 argues that is it possible to determine the competitive advantage
through determining the resources of the company. According to the Barney and Hasterly, 2006
the value chain model can be used to determine the value which are added by the various
activities into the process and operations of the company.
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