Marketing Plan IDEAS

Marketing Plan IDEAS

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Marketing Plan IDEAS

5Cs of marketing plan

Company

Oakley is a brand which is a California based company and was found in 1975. It was founded as a company of sunglasses, but now they have diversified into other categories and currently dealing in clothing, backpacks and other apparels (Bhasin, 2018).

SWOT Analysis

Strengths

Innovative Designs

Competitive pricing

Selected Distribution

Marketing Management

Celebrity sponsorships

Weaknesses

Lack of advertisement

Target Market

Price

Marketing Activities

Opportunities

Variety of style and products

Online stores

More focus on Female Segment

Threats

Product line not famous

Replica brands/ Fake Oakley’s

Brand Perception

Collaborators

Oakley has many distributors all around the world, so it is really easy to find Oakley products in market, malls and online stores. The company is always working in order to have more suppliers because of its growing demand in the market (5 C’s of Marketing, n.d.). Oakley is sponsoring many sports events in order to be better and get good agreements from different sports athletes (Iacobucci, 2014).

Customers

Oakley is one of the most popular sports sunglasses brand in the world, and they offer a lot of discounts and promotions a whole year to increase its customers. They also provide facility to their customers to buy their products sitting at home through online websites like eBay, Amazon, and Alibaba (5 C’s of Marketing, n.d.). It is very easy to find information about the products of the company for customers because Oakley’s products information is available on their website. Oakley is the company which takes into consideration what are the current requirements of different sports athletes which is one of the reasons many sports athletes prefer Oakley.

Competitors

Oakley has a lot of competitors in the market such as Ray-ban, Dolce & Gabbana and Gucci. These brands are also offering many sunglasses products, but Oakley is popular for their sports sunglasses. Their designs are unique and different from their competitors which is why sports athletes prefer Oakley over other brands. However, high prices of Oakley are a concern for them and needed to be resolved soon (5 C’s of Marketing, n.d.).

Climate

Oakley has different products, so they have the effect of climate change on them. The products of Oakley are not even cheap, but their products are usually preferred by sportsman and sportswoman, so they are not affected by the change in environment. Oakley also approaches in a good way to spread their market (5 C’s of Marketing, n.d.).

STP of marketing plan

Segmentation Strategy

Segmentation strategy consists of four steps (HSU, 2011):

Geographic Segmentation

Demographic Segmentation

Psychographic Segmentation

Behavioral Segmentation

Geographic Segmentation

United States

Rest of the world

Outside of US regions with warm climate

Demographic Segmentation

Oakley is usually preferred by the age of 15 to 35 years, and most men are targeted by them because they play more sports as compared to women (Now, 2010).

Psychographic Segmentation

Many people are brand conscious, and they want only branded costly products. Some people even show their status by wearing Oakley sunglasses. The company can also use different platforms for advertisements and to convey their message. Oakley is a recognized sports sunglasses brand, and people will buy it and use it without any hesitation. It is also used by tourists (HSU, 2011).

Behavioral Segmentation

Behavioral segmentation can be viewed from the aspect of loyalty of brand, customer ratings and response of market towards the product. Oakley has proved from last years to be of great quality which is one of the reason it has a high percentage of consumer's loyalty. Oakley can increase customer ratings and the attitude of the market towards its products by lowering the prices (HSU, 2011).

Targeting Strategy

Target customers of Oakley are sports athletes who want sunglasses for different sports. Customers who usually buy Oakley sunglasses are from the age group of 15 to 35. Oakley should create advertisements and give sponsorships to different sports teams to increase their market value and gain more customer (Now, 2010).

Positioning Strategy

Oakley is a brand which is committed to contributing to the sports world by supporting creativity, maintainability, and peace. Major competitors are Ray-Ban, Gucci, and Dolce & Gabbana. Oakley has positioned itself as a brand known for its elegance, luxury, and uniqueness. It is known for products like sports sunglasses (Now, 2010).

4Ps of marketing plan

Product Characteristics

Oakley is a popular global sunglasses brand all over the world. They follow their customer requirements in designing the framework of their sunglasses. The different categories of sunglasses which are offered by Oakley are perception sunglasses, polarized sunglasses, sports sunglasses and youth sunglasses (Goi, 2009). Oakley also builds sports sunglasses on the demands of their users with including some special features for them according to their need of sports. Radar EV Splatterfade Collection of Oakley is one of the newest design in the market which is specially designed for sports athletes, and it is available for just a limited period of time (Bhasin, 2018).

Pricing Strategy

Oakley focuses on maintaining the quality of products, so they are selling products at a higher cost as compared to their competitors. It is using its brand image to sort out customer demands and needs. Oakley generally has usually the same prices in the different markets, and they focus on maintenance of consistent price in all the markets (Goi, 2009). They also offer discounts to their customers on special events and festivals. Oakley might be charging heavily, but they make sure that there is no compromise in their quality. They have also lifted themselves by sponsoring to different sports teams and events which increase the exposure of their products (Bhasin, 2018).

Place Strategy

Oakley is a worldwide brand which can be found in almost every country. Sunglasses of Oakley are usually found in the shopping malls, big retailer stores and online websites like Amazon, eBay, and Alibaba. Oakley has also opened many outlet stores in the main cities of different countries for selling their sunglasses and optics products (Bhasin, 2018).

Promotion Strategy

Oakley is doing promotion of their products through social media and using digital marketing for their advertisements. They are launching various advertisements on social media sites and launching videos to increase the visibility of their products. Target customers of Oakley are mostly sports players because Oakley is more preferred by sports players. Through their website, Oakley promotes its products by clearly telling in detail about each and every product (Bhasin, 2018).

References

Iacobucci, D. (2014). Marketing management. Cengage Learning.

Now, W. A. W. (2010). Marketing Research.

Goi, C. L. (2009). A review of the marketing mix: 4Ps or More?. International journal of marketing studies, 1(1), 2.

Bhasin, H. (2018). Marketing Mix Of Oakley - Oakley Marketing Mix and 4 P's. Marketing91. Retrieved from https://www.marketing91.com/marketing-mix-oakley/

5 C’s of Marketing Definition | Marketing Dictionary | MBA. Retrieved from https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/11179-5-cs-of-marketing.html

Hsu, Y. (2011). Design innovation and marketing strategy in successful product competition. Journal of Business & Industrial Marketing, 26(4), 223-236.