Answered: Read the case from the text Take notes…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

Read the case from the text
Take notes from the case
Create a 500 word minimum Case Study
submit a doc.x file in Word
No cover page,
Name and Assignment Title in top left corner
Use the following outline for your Case Study:
Please use headings in paper to title each of these following three sections.
Number each question answers in the 2nd section.

Sections:

1. Relevant Facts – Summarize the relevant facts of the case.

2. Questions- Thoroughly answer each question found at the end of the case. DO NOT REWRITE THE QUESTIONS. Please number your answers!

47
Planning, Implementing, and Evaluating Marketing Strategies | Chapter 2
results so she can adjust her marketing plan frequently to
account for changes in customer buying habits, competition,
and other factors that can affect Mi Ola's marketing perfor-
Based on several years of introducing multiple swim-
wear collections, Fogarty has now gained valuable experi-
ence with the entire cycle of marketing strategy, planning,
implementation, and evaluation. She has a keener sense of
how to manage the marketing mix and coordinate market-
ing activities with all other functions of her growing firm.
Each year, she increases the number of styles she offers, and
expands fabric color and pattern choices to reflect the lat-
est fashion trends, aiming to encourage repeat purchases by
current customers while also bringing in first-time buyers.
Despite feeling some pressure to plan for dramatically
higher revenue and sales volume as the business grows, the
entrepreneur remains realistic about assessing her resources
and opportunities. She keeps a close eye on costs and sales
mance.26
Questions for Discussion
1. How would you describe Mi Ola's strengths, weak-
nesses, opportunities, and threats?
2. Does Mi Ola have a first-mover or late-mover advan-
tage? Explain your answer.
3. Helena Fogarty talks about being ready to adjust her
marketing plan frequently. Should she focus more on
possible adjustments to strategy, objectives, implemen-
tation, or some combination of these three?
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Transcribed Image Text:VIDEO CASE 2 Mi Ola Rides the Marketing Wave and YouTube would help convey her brand's unique image of Helena Fogarty got the idea for her start-up bikini manu- facturing firm, Mi Ola ("My Wave"), when she learned to surf while on vacation from her fast-paced, New York City fashion career., As much as she enjoyed the fun of riding a wave, she was frustrated with the fit and durability of her swimwear. Based on her experience, Fogarty identified a profitable opportunity to make a business splash with a new line of colorful bikini tops and bottoms designed to look good and to stay in place, in and out of the surf. Once she founded Mi Ola, Fogarty selected as her tar- get market the segment of women who are active in water sports and seek the benefits of chic swimwear that fits, wears well wash after wash, and protects the skin. For added ap- peal and differentiation, she decided to manufacture her bi- kinis domestically and market them as "made in America." Fogarty recognized that her brand was new and unknown, so she planned to use social media and public relations to build awareness and attract the attention of retailers and custom- ers alike. Facebook and Twitter were only the start-she also recognized that the visual qualities of Instagram, Pinterest, fashion and function. In addition to distributing through traditional retailers, Fogarty wanted to reach her target market directly through e-commerce. Rather than pay models to wear her bikinis, the entrepreneur sought out actual surfers as brand ambas- sadors and product testers-and asked them for their candid feedback about improving Mi Ola swimwear. Because Fogarty had worked with top style brands such as Chanel, she understood that the fashion world revolves around the introduction of seasonal clothing collections. To be com- petitive, she would need to have her products ready during the periods when store buyers typically review new collections and place orders. This meant establishing a strict schedule for each step in her marketing plan, from design to production to distribution and communication. She had to make difficult decisions about how many pieces of each design, in each color and each size, she would pay to manufacture. Her objective was to meet projected demand without having an ocean of unsold inventory left at the end of the season. Cariga 19 Cop Leig All Righ Reneral May he aopled d, duplictedwhle a p Due ele righ, thind pany etmy med e ella ndr Ct Erial view has ded t y d o d rlly allad the ol laring epenence. Campa Le g ve he egh a c ay e t ngh o

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