Paka is positioned as a niche wearable company that specializes in manufacturing sport wearable and they are developing a new range of wearable specialised for swimming. The company follows a sustainable approach to marketing and business conducts (Vallet-Bellmunt et al. 2016). Focused on the same, the objective of this report is to analyze the product success factors and steps involved in segmenting and targeting the market. Moreover, the report will also carry out a strategic analysis of Paka Competitors. The case analysis of the company is the major purpose of the report, based on which a suitable marketing plan can be developed for ensuring success of the swimming wearable among the targeted market.
Product success of “Paka Swimwear” is ensured through observing that the decision making process with consideration to consumer purchases at the time they purchase products or services. Success of the product is ensured through maintaining competitive advantage for the swimwear product at five different levels (Fine 2017). The basic level is that Paka Swimwear will offer core benefit to all its target consumers that will persuade its consumers to attain willingness to acquire the swimwear. The second level is fulfilling the need of basic product that is offering a leisurewear or swimwear (Lamb and Crompton 2017). The third level for making the product a success among the target consumer is exceeding product expectations through developing an argumented that can address the needs of the target consumers. Focused on the same, Paka Swimwear can be considered as argumented products as this guarantees high performance and are innovative (Khurana 2017). The fifth level includes developing potential products that can satisfy consumer needs and can facilitate the company in distinguish itself from identical swimwear products prevailing within the market. Paka will ensure frequent review of the swimwear products in comparison to other identical goods in the market in order to make sure that its products are always a success and remain on the forefront. This also considers that the benefits gathered from using the company’s predicts and asking sure that the swimwear remain fashionable within the market (Fay, Xie and Feng 2015).
Moreover the pricing strategy will also ensure product success of the swimwear ranges launched by Paka. This competitive strategy decided for the product is deemed to ensure success of Swimwear ranges of Paka as the pricing of the products will not be expensive than its competitor products even through the performance as well as quality of the products is distinct from what is offered in the market. In addition, positioning of Paka Swimwear will be conducted in manner that the products are positioned successfully in the minds of prospective consumers (Pramudiana, Ariyanti and Rubiyanti 2015). In this regard, the company will position its swimwear ranges as ultimate solutions to professional swimmers seeking swimwear that will be of enhanced performance. Focused on the same, the company will ensure that the swimwear will be durable and fashionable that will generate the perception of leisure among the target consumers (Talpau 2014). The new product will attain tremendous success among the target consumers as the new swimsuits will be made of a material that can decrease the dreg with increasing speed of strokes while swimming (Ritter 2014).
|
|
Nike |
Adidas |
|
Value Proposition |
Cheap and affordable process and the design is prepared based on preferences that will indicate a high standard of creativity and presentation |
The swimwear of Adidas is developed with Dye Dry technology that can offer exceptional quality of swimwear that supports high intensity athletic activities |
|
Target market segment |
Women consumer group is targeted by Nike as they tend to spend more on their swimwear apparels (Christel and O’Donnell 2016). |
The target market of Adidas Swimsuit is the men and women of young age belonging to the age group of 17 years to 60 years. |
|
Range of Authority |
Focuses on manufacturing versions of beautiful and luxurious women swear swimsuit ranges |
Focuses on manufacturing versions of beautiful and luxurious women swear swimsuit ranges |
|
Market positioning |
“Showcasing feminine and beautifully fitted swimwear that will generate sense of style against American cultural sensibilities for women” (Merlo and Perugini 2015). |
“Play to win” is the positioning statement of Adidas that spreads message to young athletes or swimmers to get the sense of being faster, smarter, faster and cooler (Bai, McColl and Moore 2017). |
Based on the competitor analysis carried out in the table above, it is ensured by Paka Company that competitive strategies will be set for positioning its swimsuit ranges in attaining high product acceptability among the target market. It has been observed that Paka Company will involve them in maintaining competitive advantages in the swimwear market. Innovative design and technologies will be used by the company in developing athletic swim wears (Wood, Thorne and Butte 2017). The swimwear ranges will attain competitive advantage among all its major competitors on the Australian market as the Swimwear brand will develop most effective swims wears for elite swimmers at affordable prices. Paka Swimwear can be considered as augmented products as this guarantees high performance and are innovative. The fifth level includes developing potential products that can satisfy consumer needs and can facilitate the company in distinguish itself from identical swimwear products prevailing within the market. Paka will ensure frequent review of the swimwear products in comparison to other identical goods in the market in order to make sure that its products are always a success and remain on the forefront (Christel 2016). This also considers that the benefits gathered from using the company’s predicts and asking sure that the swimwear remain fashionable within the market. The technology that will be used in developing the swimwear will be made of lightweight fabric that can enhance water repellency along with incorporating a compression system for providing extra comfort to the swimmers.
Market segmentation and targeting for Paka Swimwear is conducted based on which total potential consumer market for the products will be divided into smaller groups that are manageable by the company. The target consumer market for swimwear ranges of Paka is divided into three segments (Gupta 2017). The first consumer segment will include professional swimming athletes and other two consumer segments will include men and women between ages of 17 to 34 years those have increased interest in lending of leisure, fashion, sports and lifestyle. This consumer segment will also include young boys and girls between the age group of 3 to 16 years. The target market of the Paka Swimwear is indicated below:
Conclusion:
The objective of this report was to analyze the product success factors and steps involved in segmenting and targeting the market. Moreover, the report also carried out a strategic analysis of Paka Competitors. It was gathered from the report that this competitive strategy decided for the product is deemed to ensure success of Swimwear ranges of Paka as the pricing of the products will not be expensive than its competitor products even through the performance as well as quality of the products is distinct from what is offered in the market. In addition, the target consumer market for swimwear ranges of Paka is divided into three segments those have increased interest in lending of leisure, fashion, sports and lifestyle.
References:
Bai, H., McColl, J. and Moore, C., 2017. Luxury retailers’ entry and expansion strategies in China. International Journal of Retail & Distribution Management, 45(11), pp.1181-1199.
Christel, D.A. and O’Donnell, N.H., 2016. Assessment of Women’s Plus-Size Swimwear for Industry Applications. Fashion Practice, 8(2), pp.257-278.
Christel, D.A., 2016. The efficacy of problem-based learning of plus-size design in the fashion curriculum. International Journal of Fashion Design, Technology and Education, 9(1), pp.1-8.
Fay, S., Xie, J. and Feng, C., 2015. The effect of probabilistic selling on the optimal product mix. Journal of Retailing, 91(3), pp.451-467.
Fine, S.H., 2017. A Generic Social Marketing Plan. In Marketing the Public Sector, 2(2), pp. 289-300.
Gupta, V.K., 2017. Marketing Strategy: A War to Win. Journal of Management Science, Operations & Strategies (e ISSN 2456-9305), 1(1), pp.21-24.
Khurana, R., 2017. A Marketing Plan for the Modern World. Business and Technology, 1(1), pp 5-7.
Lamb, C.W. and Crompton, J.L., 2017. Analyzing marketing performance. In Marketing the Public Sector, 2(2), pp. 173-184.
Lee, C.H., Ko, E., Tikkanen, H., Phan, M.C.T., Aiello, G., Donvito, R. and Raithel, S., 2014. Marketing mix and customer equity of SPA brands: Cross-cultural perspectives. Journal of Business Research, 67(10), pp.2155-2163.
Merlo, E. and Perugini, M., 2015. The revival of fashion brands between marketing and history: The case of the Italian fashion company Pucci. Journal of Historical Research in Marketing, 7(1), pp.91-112.
Narayanaswamy, R. and Heiens, R.A., 2018. Online sales promotion in hedonic versus utilitarian product categories. International Journal of Electronic Marketing and Retailing, 9(1), pp.77-88.
Ritter, J., 2014. ” What is the role of marketing in strategic planning”?. The Business & Management Review, 4(4), p.88.
Siguaw, J.A. and Simpson, P.M., 2015. A Marketing Plan for Marketing Instruction: A Satirical Look at Student Comments. In Creating and Delivering Value in Marketing, 4(4), pp. 129-133.
Talpau, A., 2014. The marketing mix in the online environment. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 7(2), pp.53-75.
Vallet-Bellmunt, T., Rivera-Torres, P., Vallet-Bellmunt, I. and Vallet-Bellmunt, A., 2016. Effectiveness of marketing plan as cooperative learning technique. European Research On Management And Business Economics, 22(1), pp.17-24.
Wood, M.D., Thorne, S. and Butte, G., 2017. Technology infusion and marketing. In Mental Modeling Approach, 3(2), pp. 69-82.
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