Online Sportswear And Fashion Retailer †Myassignmenthepl.Com

Question: Discuss About The Online Sportswear And Fashion Retailer? Answer: Introduction The Iconic is one of the most renowned and well-recognized online sportswear and fashion retailer which is established in Sydney, Australia in the year 2011. It is one of the giant in the e-commerce business and the leading fashion retailer of Australia having an extended reach with its 50,000 products and 700 diverse brands. The company is taking sue of well-known and highly potential marketing strategies especially digital media for expanding its market share and increasing the number of customer base (The Iconic, 2017). The key purpose behind developing this paper is to understand, evaluate and analyse the various digital marketing strategies as well as having an integration of these digital marketing strategies with the traditionally used crick and mortar marketing approaches. The paper will present the key customers of the selected brand. The Iconic, its various market segments, the social media platforms on which the brand is dominatingly active and the benefits and uses of hav ing significant presence on such platforms. Use of Digital Marketing by The Iconic The customers of The Iconic can be segregated in three different segments on the basis of their behavioural, demographic and psychographic factors. From the demographic segmentation, it includes individuals that are of age group between 18 to 40 years that possess high level education and in the category of upper middle class and high class income level. The second segmentation is on the basis of behavioural factors that comprises of the customers that have certain behavioural aspects such as who prefer online shopping more than buying from physical stores, the customers have less time and prefer selecting from a wide range of products after having a comparative analysis of the prices and reviews. The third segmentation is on the basis of psychographic factors such as it comprises of the individuals who have an interest in the fashion trends, enjoying socializing and shopping, the people who are more conscious regarding their looks and wants to wear trendy and fashionable clothes. Th us, the customers are overall segregated in these three segments (Bng and Roos, 2014). And to attract the customers of every segment there are various marketing strategies and platforms on which promotions are done for fetching the attention of the customers. Social media platform for Market Segment 1: Demographic To attract the customers from the demographic market segment the company take use of various platforms such as Facebook, Twitter, Instagram, Snapchat and other digital marketing tools such as displaying of advertisements on sites, promotional emails etc. But the primary digital marketing and social platform taken use is Facebook as it is one of the best ways to attract the most extended reach of customers. There are around 663,198 people who follow the Facebook page of The Iconic on regular basis (Facebook, 2017). This shows the huge number of potential number of customers the company has. The key reason behind taking use of Facebook as the social media platform for the marketing purpose is that it helps the potential customers to remain engaged with the products and newly launched goods of the brand and fascinates the customers to purchase the same. Social media platform for Market Segment 2: Behavioural To attract the customers from the behavioural market segment the company take use of various platforms such as Facebook, Twitter, Instagram, Snapchat and other digital marketing tools such as displaying of advertisements on sites, promotional emails etc. But the primary digital marketing and social platform taken use is Twitter as it is one of the prominent ways of attracting the potential customers and having extended market reach. It is the chosen social platform for marketing because of the fact that there are several aspects and features of the customers of the behavioural market segment. The customers have a behavioural tendency to judge the brand from the various reviews and tweets made in respect with the brand and its goods and merchandises. These types of customers share their views also and want to remain updated about the overall brand image of the company and then only want to associate them with the company by the means of its products. There are approximately 12,600 tweets made till the day and there are a total of 25,900 individuals who are the active followers of the brand and its products (Twitter, 2017). Social media platform for Market Segment 3: Psychographic To attract the customers from the psychographic market segment the company take use of various platforms such as Facebook, Twitter, Instagram, Snapchat and other digital marketing tools such as displaying of advertisements on sites, promotional emails etc. But the primary digital marketing and social platform taken use is Instagram as it is one of the best ways to attract the customers who are more concerned with their looks as at the Instagram profile of the company, the customers tend to see the models as well as other customers of the Iconic wearing the similar products. Thus, as a psychographic factor of analysing things from various aspects, the customers prefer Instagram as the best social media platform for taking a buying decision. There are a total of 270,000 followers of the Iconic at Twitter (Instagram, 2017). This is the number of people who follow the brand on Instagram and tend to have a display of all the photos posted by the company on regular basis. The continuous display of images and help in attracting the potential customers and preferably develop them as the prime customers of the brand. Effectiveness of The Iconic in utilizing the social platforms for marketing The Iconic is extremely effective and efficient enough in utilizing all the above mentioned social platforms for the marketing of its products, goods and merchandizes to the customers of all market segments. The effectiveness of the company can be realized by the total number of followers each social platform have. The greatest the numbers of followers are, the maximum are the chances of the brand to achieve huge competitive benefits as well as increased number of customer base (Dunn, 2016). There are several queries and questions of the customers which are posted on such platforms and Iconic remain keenly active and engaged by answering to all the queries of the customers. This results in increases customer involvement and customer engagement that develops strong customer relationship with the company and the products (Nobre and Silva, 2014). It has also been evaluated that the company is much effective in taking sue of these platforms as at all the social media platforms, there is present complete information related to the latest and new arrivals of the company as well as the one which are about to launch in the coming time frame. This help the company in remaining globally visible and present in the market for attracting more and more customers from across the globe. Thus, it can be said that The Iconic is utilizing the social platforms in an effective and efficient manner for its purpose of marketing (Ashley and Tuten, 2015). The priority as per the analysis and the present market condition must be given to first to Facebook as it has the highest number of followers in comparison with other social platforms as well as it is one of the social media which is extensively used by maximum of the individuals on daily basis. It is found that people are much active on Facebook rather than having their presence of other social platforms. The second priority must be given to Insatgram and one major reason is the number of followers. The other reason is that Insatgram is one of the platforms on which there can be posted images on a regular basis for attracting customers and it is a good source for attracting the potential customers. The third social platform which must be given priority is Twitter as comparatively it has less number of followers but still people gather information about the brand from the tweets of several customers. And it is essential that the company must be active and have a good engagement with the customers who are present of Twitter too (Scott, 2015). Diverse aspects of different social platforms Every market segment is unique and different and so the social platforms and thus, it is not necessary that for attracting the customers a single or similar social platform will be beneficial for all the market segments. There are diverse features of all the social platforms and there is some sort of aspects as per which all the social media platforms will not work for all market segments. For example, people who only prefer seeing the images for purchasing the products are not very less interested in the comments posted on that product by other on Twitter (Swani, Brown and Milne, 2014). And the diversity in the individuals influences their selection of social platforms for reaming active and involve in purchasing of products. Thus, it is evident that because of diversity in behavioural, psychographic and demographic factors, it cannot be done that all the social media platforms will work for all market segments (Ting, et al., 2015). Conclusion Digital marketing is extending its roots and is taken effective use by all sorts of companies irrespective of their size and geographical location. From the paper it can be evaluated and concluded that The Iconic is evidently present on all recognized social platforms as well as taking efficient use of these platforms for marketing of its products. Thus, it can be stated that to remain in limelight, it is necessary that the company invest time, money and effort to boost its presence on all such social platforms so that more number of customers can be targeted and upsurge sales can be generated. References Scott, D.M., 2015.The new rules of marketing and PR: How to use social media, online video, mobile applications, blogs, news releases, and viral marketing to reach buyers directly. John Wiley Sons. Ashley, C. and Tuten, T., 2015. Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. Psychology Marketing,32(1), pp.15-27. Swani, K., Brown, B.P. and Milne, G.R., 2014. Should tweets differ for B2B and B2C? An analysis of Fortune 500 companies' Twitter communications.Industrial Marketing Management,43(5), pp.873-881. Nobre, H. and Silva, D., 2014. Social network marketing strategy and SME strategy benefits.Journal of Transnational Management,19(2), pp.138-151. Ting, H., Wong, W., De Run, E.C. and Lau, S.Y.C., 2015. Beliefs about the use of Instagram: An exploratory study.International Journal of business and innovation,2(2), pp.15-31. Dunn, K., 2016. 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