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Marketing Research: Icebreaker Clothing

1960 words (8 pages) Business Assignment

17th Nov 2020 Business Assignment Reference this

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INTRODUCTION:

Icebreaker clothing company is a merino wool outdoor and natural performance outdoor clothing brand. This clothing brand is headquartered in Auckland, New Zealand.  VF Corporation has bought this brand in 2018. This corporation gives an incredible opportunity stimulate natural performance garments globally. Furthermore, Jeremy Moon has main role in icebreaker company  icebreaker company as founder, inspirer and natural fiber expert.

HISTORY:

Icebreaker clothing company was founded in 1995 by Jeremy Moon. Icebreaker was taken into account and designed around the philosophy of sustainability by using natural resources and social ethics and animal welfare. Icebreaker has an eminent brand image since 1994. In 1997, the icebreaker was the first company which established long-term contracts with key merino wool  growers. In 2003, icebreaker joined the multinational collaboration of French, German and Chinese companies. In 2008, icebreaker company became the first company which ban  the mulesing of sheep in outdoor industry. The policy to champion animal welfare is now adopted by industry. In 2010,  icebreaker introduces  a ‘Baacode’ which enables the customers to trace the fiber from clothing. In 2012,icebreaker developed a cool- lite. In 2017, icebreaker launched its first transparency report in complete public disclosure of supply chain, social responsibility and structure and practices.

PHILOSOPHY AND OBJECTIVES:

The main objective of this company was that to fulfil the demands of customers without harming the nature. The purpose of this company was to provide natural alternatives to synthetics to its customers. Ice breaker pioneered the ethical and sustainable production of natural performance. In 1995, icebreaker company started to produce natural merino brand to give consumers a choice that was lacking in market. For this company purpose just not only mean about natural product but also “healthier”[offering] is important. The company has an ambitious goal to double the business over next four years.

COMPANY PERFORMANCE:

Icebreaker brand has recorded double digit growth with incredible outcomes. The global sales of this company are NZD$227. In Auckland ,New Zealand sold in more than 5000 stores in 50 countries, including 16 touch  labs in New Zealand and Australia. It is proved that choosing natural and sustainable  materials is complementary to a successful business . The estimated annual revenue of this company is $215.In 2018 the icebreaker company invested in materially assessment to inform the future business strategies to drive greater betterment of people and the planet. The brand image of this company is very good .One of the first icebreaker garments was worn by late Sir Peter Blake.

KEY PRINCIPLES OF SUSTAINABLE MARKETING OF ICE BREAKER

Sustainable marketing is the promotion of the products which are highly based on environment and socially responsible. This company produces the products which for which the raw material is taken from natural resources. This company follows the triple bottom line- environment, society and economy. Icebreaker is all about the icebreaking it explores the relationship among people and nature. The icebreaker company  believes that nature knows the best and nature is our hero. So, we must take care of natural resources.

ANALSIS OF ICEBREAKER MARKETING MIX STRATEGIES AND SYTHESIS WITH SUSTAINABLE THEORIES:

Marketing strategies are the long-term strategies which are used for forward looking approach to planning with the fundamental goal of achieving a sustainable competitive advantage. The icebreaker clothing company also using different type of marketing mix strategies. These are 4ps like promotion, product, price and place.

PRODUCT:

The icebreaker clothing company aims to incorporate natural, ethical, sustainable practices into everything what they do including product.  This company believes that they are natural performance pioneers because their roots are founded in the land of merino sheep that drives them to continue to lead, innovative and create from what nature provides. The nature of the product is simple.  The products of icebreaker company are opposite to fast fashion. They made highly quality products with the aim to thrive in wardrobe during many seasons. In addition, the products of this company are highly versatile. The products of this company are purposeful that responds to body active needs. The design position which this company use only what they need and nothing what the do not. This  company believes in leaving the planet better than we found it, by wasting the precious resources. 85% of icebreaker’s raw material consumption based on natural fibers.

PRICE:

The prices of this company are not so high or not so low. This company using the pricing strategy which is affordable. It sets the price of products according the features, quality and any innovations in product. If we do comparison of price of this company with other companies’  product price the price of this company products is affordable.

PROMOTION:

Icebreaker company using different type of promotion strategies like this company developed a campaign that created a personal connection with people and asked the people about to apply actively test cool-lite products, for take cool-lite test. The aim behind this campaign is that they wanted to create icebreaker advocates and to spread the message about the cool lite product range. This company offered up chance to win a cool-lite t-shirt so the icebreaker community had experience the great feeling of the product themselves.in addition, this company also using other types of promotion strategies like campaign on Facebook with two short teaser movies, shot with real people testing the product in Brighton and Tegernsee etc.

PLACE:

Icebreaker company has direct relations with suppliers across the factories. Today icebreaker company has supply chain of 46 direct suppliers , managing 63 factories. This company directly works only with nine fabric suppliers and ten garment suppliers. If we talk about company product place this company has direct relationships and supply chains. Icebreaker has different types of suppliers which finally make the product like wool  fiber source, top processing , Yarn spinning, Fabric mills and then garment makers and trim suppliers and the last step packaging. In addition, this company has direct sourcing relationships  and there are some additional  suppliers from whom their suppliers source yarn, trims and packaging  on company’s behalf.

This company has following supply chain

  1. ICEBREAKER GLOBAL HEAD OF SOURCING
  2. SUPPLIER DOCUMENTATION
  3. ICEBREAKER FACTORY VISIT
  4. THIRD PARTY AUDIT
  5. SIGN CONTRACT
  6. SUPPLIER TRIAL
  7. PARTNERSHIP & PRODUCTION COMMENCES

POSTITIONING ANALSIS OF ICEBREAKER COMPANY AGAINST ITS COMPITITORS

Today is the world of competition. Like other companies’ icebreaker company also have to face many problems, like there are many competitors against this company. But on the other hand, icebreaker has good brand image and good position in market. 

TARGET CUSTOMERS:

The icebreaker company had a target  to provide best quality of products to its customers. The icebreaker company makes cloths r products for men’s, women’s and children.

The primary target of icebreaker company was a US mailing list, in which icebreaker customers who subscribed to its email list and the consumers who are familiar with the icebreaker brand interested in outdoor sports. The list demographically move male.

ICEBREAKER PRODUCTS DIFFERENT FROM OTHER PRODUCTS OR BRANDS

Icebreaker garments are designed such a type to capture physically of the human body and a when every time they worn its like a sense of possibility of adventure. This sense makes the product of icebreaker company different from others.

ASSESSMENT OF COMPANY SUCCESS AND RECOMMENDATIONS:

The success of a company can be measured with the measuring the income and expenditure of a company. Every company where have income there is also an expenditure. Moreover, the income statement  measures the profitability of a business during a certain time period. We can measure the success of a company through the following steps:

  1. LOOK  AT BUSINESS’S FINANCIAL STATEMENTS
  2. CHECK CUSTOMER SATISFACTION
  3. AVERAGE HOW MANY NEW CUSTOMERS A COMPANY GET
  4. CONDUCT PERFORMANCE REVIEWS

Every company has some strengths and weaknesses. Icebreaker company also has  some strengths and weaknesses. The strengths are there is a big number of customers and suppliers relate to this company because this company mainly focus on the environment, work with natural fibers and renewable  resources. The knowledge sharing, open discussions, vendor summits ,product research and development shows icebreaker really cares its supply chain which is a positive sign for this company. However , there are some weaknesses like this company focused only on simple product design rather than fashion.

Moreover, icebreaker’s people identified different type of issues like chemical use , product quality  and performance. They highlighted the that they need to focus on what they are best at and they need to make some changes according to circumstances. Climate change and shift in consumer preference regarding simplicity ,seen   as potential risk. In addition icebreaker company is facing other types of problems like overconsumption, unsustainable materials.

RECOMMENDATIONS FOR COMPANY TO OVERCOME ITS WEAKNESSES:

  1. Impact plan: consolidated the issues, opportunities, challenges assessment into three-year sustainability strategy.
  2. Remain accountable: There is an urgent need for this  company to remain accountable and  identified the issues in the assessment and track continuously  and assess their progress.
  3. Ongoing dialogue: There is a need to continuously focus on stakeholder engagement and feedback in order to make changes from time to time.

REFERENCES:            

  • www.icebreaker.com. (2019). Philosophy | icebreaker. [online] Available at: https://www.icebreaker.com/en-nz/our-story/philosophy.html [Accessed 13 Dec. 2019]. 
  • Murphy, P.E., 2005. Sustainable marketing. Business & Professional Ethics Journal24(1/2), pp.171-198.
  • Orders, M., Notification, M., Wallet, M., Points, M.L., Assistance, A. and Maker, A., Marketing Mix And Segmentation.
  • Steiner, G.A., 2010. Strategic planning. Simon and Schuster.
  • Dess, G.G. and Miller, A., 1996. Strategic management (Vol. 2). McGraw-Hill.
  • Mitchell, J.D., Smith, L.J. and Dana, L.P., 2009. The international marketing of New Zealand merino wool: past, present and future. International Journal of Business and Globalisation3(2), pp.111-122.  
  • https://www.icebreaker.com/en-au/our-story/our-story.html

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