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Olymp's Marketing Strategy. An overall overview

Essay 2010 4 Pages

Communications - Public Relations, Advertising, Marketing, Social Media

Excerpt

Marketing Case Studies SS 2010

Case Studv Olvmp

The Marketing strategy of the shirt manufacturer Olymp - Bezner KG has been performed successfully for many years; nevertheless there is always room for improvement and further development. As a recommended strategy I would implement Market penetration.

Olymp should concentrate on three main goals and objectives: First of all, they have to try to increase Market share and growth; the company is very successful in doing this, but there is still a lot of potential in this area. Furthermore, Olymp has to build and enhance a strong customer relationship to increase customer benefits in orderto achieve customer satisfaction and loyalty, because this components lead to business success. And finally Olymp has to improve its awareness level.

Regarding the company's strategy and Marketing Mix concerning the product policy, Olymp should maintain the specialties like the winkle free shirts and the Polo shirts. Besides, keeping the high quality level and the concentration on their core products are other crucial things; because these elements characterize the company's brand image. Instead, I suggest abolishing the causal cotton shirts: in this area, there is a huge competition and too many alternatives for consumers. Therefore, Olymp should stick to his core products and to those products that differentiate the company from others.

The corporation should offer special, high-class packaging for those customers, who want to give the shirts away and also provide after-sales service in order to satisfy customer needs.

According to the distribution channel, Olymp should stick to its strategy to extend exports and to deepen the relationships to its retail partners abroad, because there is a huge growth potential for the enterprise in the European, African, Middle Eastern and Chinese market.

In addition, the way the products are presented in the retail shops should be retained: In- store corner concepts and other systems provide a high- quality impression and attracts customer interest.

On the other hand, as I mentioned before, Olymp must have the continuing ability to strengthen its position on the foreign market by opening more brand-exclusive stores like in Abu- Dhabi to become an opponent to be reckoned with on the global market, especially in the upper sector. That's why the company should continue to pursue its strategy to open retail stores in big, well-known department stores as in the chain Lafayette in Paris. Here, you have the opportunity to face a great number of occasional customers.

Another opportunity to reach this goal could be establishing own stores in high frequented places to shorten the channel length and to increase revenues; own sales outlets could also be a possibility.

In terms of communication policy, Olymp should enlarge its co- operations as it does with Lufthansa to increase the popularity and intensify the customer relationsip; in addition, sponsoring has to remain as an important means of communication, promotion and presence.

Because of the fact, that the company has not a big to cover the costs for a public advertisement, Olymp has to keep on participating at fairs and using PR as an important instrument to create value and stay remained in people's minds.

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Details

Pages
4
Year
2010
ISBN (eBook)
9783656705192
File size
818 KB
Language
English
Catalog Number
v277723
Institution / College
Heilbronn University of Applied Sciences
Grade
1,3
Tags
Marketing Case Study Marketing Communication Olymp

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Title: Olymp's Marketing Strategy. An overall overview