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Running head: NEW MARKETING AND PRODUCTION STRATEGY 1 XYZ Company’s New Marketing and Production Strategy Northcentral University Comprehensive Strategic Knowledge Studies SKS7001-8 Dr. Jaime Klein January 17, 2016
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Running head: NEW MARKETING AND PRODUCTION STRATEGY 2 Introduction Due to the increase in competition between clothing manufacturing companies, XYZ Company must revamp its marketing and production strategy in an effort to attract more customers, boost sales, and increase profitability. XYZ, a women’s clothing store which sells only XYZ brand products based in New York, NY and sells clothing for every occasion has had an annual increase in market share over the last decade due to its high quality, in demand products. However, since the arrival of NYC Employee Company and Bright Lights NYC Company in the same neighborhood which sells other clothing brands such as Large in Charge, Big and Beautiful and Plusfressional, and not XYZ, XYZ Company has lost over 40% of its customers in the year 2015. Our two new competitors produce women’s clothing that appeals to the youthful business professional consumer base as well as the trendy nightlife community. In order to increase our market share while reducing overall costs simultaneously, XYZ must implement new marketing and production strategies which will be discussed in this proposal. This purpose of this proposal is to asses XYZ’s current and future ideas for market segmentation, channels of distribution, logistics, supply chain management, and marketing research tools. In addition, this proposal will discuss new ideas for quality management, quality improvement and project management which will allow for XYZ Company’s future success. XYZ’s New Marketing and Production Strategy Market Segmentation The growth in product variety has increased in almost all product categories over the last four decades (MacCarthy, 2013).   Since customers needs and preferences vary, it is impossible for
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Running head: NEW MARKETING AND PRODUCTION STRATEGY 3 companies to satisfy every customer’s needs with a single product. (The Foundations of Marketing, n.d.).   Certain basic social, cultural, personal patterns are imperative to the process for marketing of apparel (Richards, 1977). XYZ Company appeals to the heterogeneous market as it manufactures women’s clothing for every occasion such as business attire, casual wear, swimwear, evening attire, hosiery, lingerie, and more. Due to such clothing diversity, XYZ has always appealed to the entire marketplace. Neighboring retailers such as NYC Employee Company and Bright Lights NYC who sell products which cater to smaller, homogenous groups such as plus-size women by selling brands such as Large in Charge, Big and Beautiful and Plusfressional have proven to be more successful as they have increased market share. XYZ has not yet manufactured plus size clothing. With this analysis, XYZ will expand to also cater to plus size women and manufacture plus size clothing, creating plus size departments both within XYZ stores and on XYZ’s website. XYZ will produce and sell plus size business attire, swim wear,
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