Growth Strategies of Classic Sportswear Company †Free Samples

Question: Discuss about the Growth Strategies of Classic Sportswear. Answer: Background of the company Classic Sportswear is a privately owned company and it manufactures sportswear for few decades (Classicsports.com.au 2017). The brand is recognized throughout out the sporting industry due its quality and reliable products, which is regionally made in Sydney. Companys growth strategies explained with Ansoff matrix Classic Sportswear, from the past few years has gained a tremendous growth due to its increasing product range and highest market share in the global environment. The apparel industry has become dynamic due to the changeable needs of the customers. The company tends to develop its marketing strategies on a regular basis. The long-term strategy of Classic Sportswear might not be effective as the apparel industry largely depends on the trends. This means the products are developed and design based on the recent trends. The company cannot rely on the long-term strategies as the marketing trends in apparel industry have rapidly been changing. The competitors in the sector have increasingly captured the market (Ko et al. 2012). Thus, based on the market dynamics, Classic Sportswear, developed the market strategies with the strategic analysis tool Ansoff Matrix. Diversification The company has expanded their outlets more increasingly in the recent years through the achievement. The brand Classic Sportswear has significantly enhanced its stores capability by purchasing all sports, licensed, NRL SUMMER, NRL WINTER, NRL LADIES and many more (Classicsports.com.au 2017). In addition to this, the brand has purchased international brand like Sprinter, Chausport and champion sports and others. Some particular facilities such as Knitting, sublimating, printing, pressing and embroidery facilities are all housed in productions of Classic Sportswear. This has helped the company to expand its business in the overseas market. Moreover, it has also been identified that the company has made large investment on e-commerce to reach the customers from wide market. The web designers of the company aim to enhance the functionality as well as design of brands websites to represent the brand more successfully and effectively in the wide market. Product development- In order to remain active in the highly competitive market, the brand has applied the product development strategies, in which the company introduced new products at low price to maximize the market share. The major sports products such as footwear, t-shirts, and inners are usually sold at low price compared to the price charged by the competitors in the industry. To spread the awareness of the new products across the market, it has focused on the advertising. The company has done the advertising of products through the newspapers and magazines and taking the advantage of digital media (Singh and Pattanayak 2014). Among the major characteristics of the company, the focus on certain products sometimes remains as the major characteristics that bring success to the company. This strategy helps to attract more customers in a particular segment of products. In addition to this, the company relies on the outdoor advertising. Recommendation Based on the existing findings presented in the paper, many significant recommendations grow further for Classic Sportswear, to achieve effective performance. Thus, considering the findings, certain recommendations have been provided in the following. Focus on market penetration- Classic Sportswear should place more focus on the market penetration as well as developed in the emerging nations in the coming years. It has been identified that economic outlook in the Western countries remain sluggish. It is also projected that many economic nations in Asia could become the lead of economic growth in the coming future (Rahulan et al. 2015). Therefore, it is reasonable for Classic Sportswear to focus on its marketing efforts in Asia market. In order to remain active and the market leader, Classic Sportswear should take the opportunity to build itself in the emerging nations shortly. Focus on catering to sports, fitness, fashion requirements of women in the market- Women in the European and Western countries are increasingly involved in the sports. Thus, it is necessary for Classic Sportswear to take upbeat actions to meet the needs and demands of female customers (Ko, Phau and Aiello 2016). Decrease of operational cost Classic Sportswear should decrease the operational cost with the help of design and development of lean efficient management. In spite of the volatile economic situation across the globe, the inflationary stresses are not something that could be neglected by policy makers as well as business around the market (Park, Ahn and Lee 2015). The inflation of commodity as well as increasing labor cost in the emerging nation is projected to affect the profits negatively. Therefore, it is necessary to streamline the operation across the market for more effective and enhanced value as well as business methods. References and Bibliography Classicsports.com.au. (2017).About Us - Classic Sportswear. [online] Available at: https://www.classicsports.com.au/index.php/about-us [Accessed 30 May 2017]. Kinuthia, L.N., Keren, G., Burugu, M., Muthomi, H.N. and Mwihaki, M., 2012. Factors influencing brand loyalty in sportswear among Kenyan university students: the case of swimmers.differences,1(4). Ko, E., Phau, I. and Aiello, G., 2016. Luxury brand strategies and customer experiences: Contributions to theory and practice.Journal of Business Research,69(12), pp.5749-5752. Ko, E., Taylor, C.R., Sung, H., Lee, J., Wagner, U., Navarro, D.M.C. and Wang, F., 2012. Global marketing segmentation usefulness in the sportswear industry.Journal of Business Research,65(11), pp.1565-1575. Lim, C.H., Kim, K. and Cheong, Y., 2016. Factors affecting sportswear buying behavior: A comparative analysis of luxury sportswear. Journal of Business Research, 69(12), pp.5793-5800. Park, S., Ahn, M. and Lee, Y., 2015. The study of dependence on sportswear and the effects of wearing sportswear.Journal of the Korean Society of Clothing and Textiles,39(1), pp.77-90. Rahulan, M., Troynikov, O., Watson, C., Janta, M. and Senner, V., 2015. Consumer behavior of generational cohorts for compression sportswear.Journal of Fashion Marketing and Management,19(1), pp.87-104. Singh, P.K. and Pattanayak, J.K., 2014. The Impact of Brand Loyalty on Consumers' Sportswear Brand Purchase. IUP Journal of Brand Management, 11(4), p.40.