Asos case slides
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Asos case slides
- 1. Group: Davidson peetala : L0215kmkm0611 Nguyen Tan Phat : L0173cpcp0611 Aizhan Koshenova : L0150roai1010 Radhziv Satylganov : L0167rtrt0211 Emmanuel Mba : L0173fkfk0211 Dagem hailu Segni : L0193fsfs0611 Denis paulo Shenyagwa : L0223aaaa0611
- 2. ASOS - DISCOVER FASHION ONLINE
- 3. ABOUT ASOS Established in June 2000. ASOS is the UK's largest independent online fashion and beauty retailer, offering over 40,000 branded and own label product lines. 1.3 active online customers. 1000 new products to its range every week. Target audience is 16-34 year olds – but 20% of current customers are aged over 35.
- 4. SWOT Strengths:- Reasonable prices and wide range of choice available. The concept of worn by celebrities model dresses. Weaknesses:- Lack of physical feel of the product. Doesn’t guarantee the availability of other brands. Opportunities:- Increasing number of online shoppers. Ever changing fashion trends. Threats :- Emerging competitors. Established brands opening their own online stores.
- 5. PRODUCT LIFE CYCLE • Different stages of Product Life Cycle. •All products pass through this cycle although they behave independently of the other. •The life cycle of fashion items are relatively shorter than other products due to various factors influencing it such as new trends, changing fashion, seasonality.
- 6. PURPOSE OF PLC for ASOS Can plan the introduction and withdrawal of products Be able to predict when revenue will flow in and calculate the profitability of product lines. plan the appropriate type and level of promotion for different products can support products through the entire life cycle They can plan pricing strategies to extract as much revenue as possible at every stage Example : TIGERWOODS ENDORSED NIKE T-SHIRTS. Introduction: premium, high priced. Growth: Promotions and discounts Maturity: heavy discount Decline : product replaced.
- 7. APPLICATION OF BOSTON MATRIX STARS New launched products like New Mosto Jacket, etc QUESTION MARK Featured items e.g. Converse shoes All Stars product red hi top trainer, etc DOGS Sale/clearance items e.g. TFNC Dress With Pleat Sleeve, etc Low High Market Share LowHigh MarketGrowth CASH COW Mature products that always sells like T-shirt and own- branded shirt •Build •Hold •Harvest •divest
- 8. HOW ASOS CAN USE BCG MATRIX convert the Question Marks and Stars into Cash Cows of the future. extending promotions. manage the Dogs either by removing the item and cutting costs or reducing the price to sell quickly or re-using the materials The profits earned from Cash Cows can be used to develop and promote Stars.
- 9. PROMOTION STRATEGIES Celebrity Endorsement – Jessica chastain. Fashion Trends - Look alike products of latest trends ASOS Membership Card. NUS card’s discount. Imaging of items , catwalk’s. Linking the clothes range to accessories. Wide range of discounts. Asos magazine. Social networking.
- 10. EXTENSION STRATEGIES EXISTING STRATEGIES: International market. Other products such Accessories, beauty and jewellery. Market place. OTHER STRATEGIES WHICH CAN BE USED ARE : Constant qualitative and quantitative research. Expand the number of brand users. Product modifications. Using the marketing mix more effectively.
- 11. ACTION POINTS Monitoring and ensuring the product life cycle (product portfolio) continue to meet the needs of its customer. Increasing ASOS brand awareness as a “Must have’ fashion item. Increase customer relationship management. Improve the spending power of existing customers. Reduce the usage of the social networking websites. Updated software which can do suggestive, switch and swop selling automatically.
- 12. LEARN’T OBJECTIVES As a manager it is important to understand the product life cycle. It will help in promoting and extension strategies. Innovation through Boston matrix. Different techniques which can be used in the analysis of a company. Role of marketing in the planning and success of the company. THANK YOU
Notes de l'éditeur
- ASOS is U.K’S online retailing fashion store with a wide range of own-labeled, designer and branded fashion goods. The Company started in 2000 and significantly grew in the past ten years. The comparison of 2010 and 2011 financial reports suggest the revenue is up by 52% and the gross profit up 41% which proves the company is still growing strong. The prices of ASOS products are relatively less when compared with the high street stores. With 1.2 million of active customers ASOS still is a growing company. In the recent times ASOS began their international market in some of the European countries and United States. ASOS uses good promotion strategies to keep its customers involved and interested. The company had been constantly winning awards every year which by itself is acting as a good advertising for the company.
- Some of the strengths asos are the reasonable prices on various branded products, and also the variety of selection range available on the products. Asos has been using the e-commerce effectively. Some of the weaknesses are the lack of physical feel of the products, where customers cannot touch and physically see the product, which will only give an imagination of the product. The availability of different brands on asos website is limited. Asos cannot assure that a particular brand will be available althrough. Opportunities are the number of increasing online shoppers in the recent years will the a increase in the demand of the products. Asos with good amount of experience in the online shopping sector will be well benefited. Fashion trends keep changing very quickly and there can never be a standard fashion. Threats, there are new and emerging online fashions opening in the recent past which might become a threat to asos. The established brands like armani are having their own online store, which will restrict the users from coming to asos.com.
- Product Life Cycle, is the period of time over which an item is developed, brought to market for sales and eventually after it has lived its life it becomes absolute. All the products of a company will go through the different stages such as the initial development of the product, the introduction of the product into the market, growth and familiarity it acquires in the market which will lead to the maturity. In maturity stage the product will be well know in the market and needs less effort to sell, if no extension strategies are implemented the product will reach the decline stage, where it will loose its popularity and gradually be rejected by the customers. Considering fashion industry, the product life cycle is shorter and tends to quickly change as per the new trends being introduced often. Asos should have constant observation on the product life cycle.
- The product life cycle is a very important factor in the present and future success of asos. With a well implemented product life cycle asos can know when to introduce and withdraw a product. Using PLC, asos can evaluate the market trend which will help in planning for the future season’s. it will also help asos to plan for when to promote their products and the level of advertising required. To further explain the pricing and the profit levels of the company can be determined. Considering the nike T-shirts which were endorsed by Tiger Woods were introduced in the market during the early 2000. They were doing well and most of the people considered it to be a must to have product. Gradually the T-shirts reached the maturity stage and were available with huge discounts in the recent past years. Now not many will prefer these T-shirts.
- Boston’s matrix describes the four different areas in which the products can be places. Stars are the products with high market share and high growth. Cash cow’s are the products with low growth and high share. Dog’s are the products with low growth and low market share. Problem children are the products with high growth and low share. Considering these factors company can decide on which products to improve, which products to hold from production. They will also know the products which will need more invest to increase the production and the products which will need to be removed. ASOS.com’s challenge are to: • convert the Question Marks and Stars into Cash Cows of the future by increasing or extending promotion • manage the Dogs either by removing the item and cutting costs or reducing the price to sell quickly or re-using the materials • The profits earned from Cash Cows can be used to develop and promote Stars.
- Using the Boston’s matrix asos can reduce the amount being invested on the products which are yielding less profits. By reducing the invest and increasing the profitability asos can convert these into cash cows which can be used for the future investment into the products. By having good promotion strategies the product life cycle can be extended through which the it will restrict the product from entering the decline stage and becoming a dog. If there are products which are neither growing nor giving any profits asos will have to either remove them or have a strategy to convert them into cash cow’s.
- Some of the promotion strategies being used by asos are the celebrity endorsed products, Following the fashion and trend the market and introducing 1000 new products every week. There is asos premium membership which gives better services such as speed of delivery and first glimpse of the new products. There is a 10% discount on NUS card holders through which asos is attracting the students as well. A wide range of discounts are available althrough the year in asos. The asos magazine and the good usage of social network to promote their products and also to be well know in the market. Some other strategies which can be used by asos are to promote more of own braded products which will attract more people. Introduce more available range of choice to the people above and below the target group which is 16-35.
- Extension strategies are important for asos to control the decline stage of the products. Using the product life cycle and Boston’s matrix the effective strategy to control the decline stage will be possible. As per the information some of the extension strategies being used by asos are, The international market expansion which will allow asos to circulate its products. If a product is reaching its decline stage in a country, it can be removed and can be introduced in market of another country. Other accessories , beauty and jewellery products will keep attracting back on to the website. Asos recently introduced market place where people can buy and sell pre-owned goods. Some other strategies which can be used by are : A constant research through qualitative and quantitative will help asos to be aware of the companies position in the market, which will help in the extension strategies. Increase the number people using asos products. The necessary modifications which will have to be done now and then to extend the product life cycle. Marketing mix of reduced prices, special offers, improved penetration of distribution channels and improved advertising will help in the extension strategies.
- To continue to do well in the market asos should constantly monitor its product life cycle using boston’s matrix. Many of the brands which are being sold in asos, have their own online store. Asos should focus more on its own brand products. These products will increase the cash cow’s of the company. Asos should maintain better customer loyalty database to know the likes and dislike of the public. By using social networking sites asos is allowing people to comment both negative and positive feed back. In some situation the negative feed back may effect the company as well. Updated software which can engage the customer to spend more than just what he wanted. A software which can perform switch, swop and cross selling techniques will be of very good use to asos.
- The group learnt, what product life cycle is and also its importance. The Boston’s matrix method through which the products can be categorized based on their performance. Innovative techniques which can be used to improve the product life cycle. Some possible ways in which a company can analyze its products to come up with a good marketing strategy for the future.