Marketing Strategies of Bonobos in the Market of the United Kingdom - Assignment Example

According to Dunn, there was a gap for the fashion companies which took inputs but created something which a consumer can never do on its own. Thus the company to fill this gap established a community-driven platform where the customers through social media, purchase behaviour and commentary would affect the offerings made by the company. Eventually, the company’s goal evolved from merely solving men's pant problems to solving men's shopping problems. Bonobos.com also provides access to products that are made locally but lacked optimal distribution and promotions; these items were termed as ‘Stuff’ which included belts, shoes and accessories.

Bonobos used social media sites to promote its products which proved to success for the company. These communities enabled Bonobos to markets its products and sell them without investing any dollar in the traditional form of promotional techniques. Bonobos used Twitter, Facebook, and the company’s blog to promote and gather inputs from the customers. In the first year of its business, the company earned net revenue of $1.6million selling almost 30,000 pairs of pants. By 2009, Bonobos introduced trousers at a low price and Dunn expected the company to finish between $3.

5millions to $4.5millions (Kinsey, 2009). Internal Environment refers to the internal factors of a business that are generally controlled by the business itself. It refers to the environment that exists within the organization. The internal environment includes objectives of the organization, its managerial policies, different departments of the company, the employees and the management of the organization, brand image as well as corporate image, the relationship between labor and management, physical resources which includes infrastructure, the vision of the top-level management, research and development of the organization, and the working conditions of the organization.