Company Analysis: Cloon Keen Atelier - Essay Example

?Company analysis From marketing perspective, Cloon Keen Atelier is just one of the rests of companies trying to become a cut above the other, as much as possible would want to obtain competitive advantage. One reason would be to ensure a high market share and this would mean productivity, efficiency and continuance of the operation. In other words, Cloon Keen Atelier, which is trying to create significant moves within the context of marketing mix (product, price, place and promotion), does not actually differ from what the others are doing in the market. For instance, as stated in the case, Cloon Keen like any other would want to achieve reinforcement of chosen market position prior to the development of market and new products especially in the context of competitive environment. Thus, it is not only enough to specifically focus on products, price, place and promotion, but the actual environment itself especially if there is a need to critically consider understanding an organization from the point of view of marketing. This is the whole point of considering other related analyses which also include understanding customers’ behaviors, their actual buying process and even on creating a need for certain service and product offerings. In fact, all of these have become essential considerations of Cloon Keen Atelier as primarily stated in the case. In the case, Cloon Keen essentially considers products, place, customers, competition, promotion, branding matters, and other relevant concerns. PEST analysis PEST analysis is a useful tool when there is a need to scan the general environment of an organisation or company (Henry, 2008, p.51). The reason why there is a need to scan the general environment prior to understanding elemental information that could benefit an organisation is evident in the case of Cloon Keen Atelier. For instance, in this line of business, it is important to consider barriers to entries that at some point could be highly political in nature. In fact, this should be one of the considerations of Cloon Keen Atelier in order to hinder its possible new competitors and imitators. When there is competition, Cloon Keen Atelier could no longer independently manipulate the entire market especially in having control over the price. Economic consideration is another important point. Cloon Keen Atelier operates in the market of candles, home fragrances and personal care. In fact, all of these products involved in these markets are considered luxuries, but according to the case, customers considered them as affordable luxuries which mean the economy is quiet stable for these product offerings. Furthermore, since there are significant sales involved particularly obtaining at least 80 percent loyal customers, it can be pointed out that Cloon Keen Atelier and its offerings are a hit among those looking for affordable luxuries. Thus, this could lead to the impression that Cloon Keen Atelier has created an identity in offering luxury at affordable price, which substantially influences the market to look forward to affordable luxury, an issue not just pertaining on the economic point of view but social perspective. Finally, as stated in the case, Cloon Keen Atelier conducted significant researches, but all of these could be remarkably implemented and put into consideration in the presence of advanced technology. After all, it is dealing with luxury brands and products which should include cutting edge technology. STP analysis Segment, target and position are important considerations in marketing activity. Segment, target and position are important considerations in achieving marketing objectives and eventually competitive advantage (Porter, 1998; Boone and Kurtz, 2006). Eventually, Cloon Keen Atelier has operated in overlapping markets but the 80- percent-loyal-customers indicates a reasonable view to look forward for other segments that could be potentially covered with its products. According to the case, the personal grooming in Ireland is advancing. People are influenced by affordable luxuries. This therefore means, Cloon Keen Atelier should look forward to creating a buffer by increasing the number of new key accounts and customers. Furthermore, the need to explore for other retail initiatives is potentially good since from the start it resulted to the achievement of retaining 90 percent of their original retailers. In other words, there is still much to be done on the part of Cloon Keen Atelier to ensure achievement of the right segment, target and position in its market and to come up with competitive advantage and high barrier to entries. Branding strategy analysis The 80 percent loyal customers and 90 percent retention of original retailers are significant proofs that Cloon Keen Atelier was successful enough in establishing the brand name of their products. In fact, brands could eventually help determine sales or even the number of loyal customers (Boone and Kurtz, 2006). This is evidently proven by the case of Cloon Keen Atelier. In other words, this company has remarkably become successful in its brand development. However, this is something that the company should not only be content with. Considering that according to the case there are other competitors to consider and even lack of consideration of barrier to entries, Cloon Keen Atelier should pursue on formulating more remarkable brand strategies in the future. Marketing strategies in the future Viral marketing technique is a modern approach not just enhancing the potential of word of mouth, but it includes fast-pace dissemination of information or significant data about the product or service offerings (Schirmer, 2007). In other words, there is much to be explored in this technique. This is going to be the best opportunity for Cloon Keen Atelier to integrate viral marketing and product differentiation strategy. Since its brands have been remarkably known, it is not hard for this company to enhance the information about its product offerings by integrating the significant power of viral marketing and product differentiation. After all, these combined technique and marketing strategy are all related with the achievement of competitive advantage (Porter, 1998). Another essential move is to fully understand customers as they are primarily sources potential revenue and profit. Thus, it would make sense that understanding their buying behavior from time to time is important in order to cater their needs prior to producing highly differentiated product offerings. After all, it is a must to understand consumer behavior as this is one of the basic activities in marketing (Doyer and MacInnis, 2008). References Boone, L. E., and Kurtz, D. L. (2006) Contemporary Marketing. 12th ed. Mason, OH: Cengage Learning. Doyer, W. D., and MacInnis, D. J. (2008) Consumer Behavior. 5th ed. Mason, OH: Cengage Learning. Henry, A. (2008) Understanding Strategic Management. Oxford, NY: Oxford University Press. Porter, M. E. (1998) Competitive Strategy. New York, NY: Free Press. Schirmer, L. (2007) The Changing Communication of the Retail Industry: A Critical Analysis of the Status Quo and the Development of New Ways of Addressing Consumers. Munich: GRIN Verlag. Read More