Enhancing the Marketing Plan essay
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Enhancing marketing plan is very crucial and it helps the company to achieve its objectives and obtain reasonable profit levels. The marketing environment is full of competition because all the companies believe that they are the best for the customers. In this respect, several competitors are available in the market and this is only advantageous to the customers because it prevents business monopoly which can results in higher prices (Paul, 2011). However, since the competing companies are many, it is important to understand the competitors, how to remain unique among them, possibility of being a leader in the clothing sector, macro environment issues and finally discussing how the company intends to capitalize on the market trend. The company is Nautica Enterprises Company.
The company’s competitors, and the strengths and weaknesses of each
Even though apparel industry is strong and mature, its existence is very dynamic and in a competitive environment. There are several ways in which the competitors are trying to improve market capacity restructuring in various available technological approaches (Paul, 2011). This enhances cost reduction and hence enables favorable competition in the market.
The competitors of the company also deal with fashion and apparels. They include the existing departmental stores, retailers, and retail chains in the streets (McDonald, 2011). Examples of the competitor companies that supply the products in the market include: Mothercare Company which deals with children clothing, Marks & Spenser Company dealing with selected clothing designs of high quality. The most and closest competitor for the company is Tommy Hilfiger company. This corporation designs quality sports wear, Jeanswear, and the children clothing distributed in their wide network so that customers can access their product promptly.
The analysis of the company on its strategies and planning includes the fact that its competitors share some strength. They are popular due to their brand names which are known nationally by many people. The second strength is that they have effective distribution network across the state. Lastly, people have already known their level of quality in the market which enhances their sales. However, just like any other companies, there are weaknesses that they have which include: charging prices that are not able to match the product quality, secondly, they have not selected to charge separately the high quality products and this shows that there is a mix of low quality products being charged high prices, lastly they provide generic services to customers as they are not very customized to customers conditions.
Discussion on how to differentiate Nautica Enterprises Company from the closest competitor
The Nautica Enterprises Company in the analysis of market competition will be differentiated with these unique and competitive selling points. There is customized offering to US developed products. This will be able to attract more customers as my aim is to convince them that the company is ready to do affair business deal with them. Secondly, offering very high quality clothing with affordable prices. In relation to this, the products of Nautica Enterprises Company does not have expensive brand premium and will provide sorted products of different sizes and quality into the market. Third and lastly, the company is providing very good and effective customer care services with efficient delivery with personal touch to the retail stores.