Assignment 18"Test your knowledge"

ACTIVITY 3

Assuming I’m the owner/manager of a clothing company…

Who is your target market?

My company’s market strategy targets mostly young people, price conscious and particularly sensitive to the latest fashion trends.

How does your product or service satisfy the needs of your potential customers?

It satisfies today’s need to stay fashionable, show a unique style and personality through clothing, and stay on top of trends.

Which company has the biggest market share in your industry?

There are numerous companies in this industry. The most remarkable ones are Nike, Gucci, Adidas, Inditex, Uniqlo and Louis Vuitton.

How long do you usually run an advertising campaign for?

I would maintain constant advertising campaigns, using digital marketing and social networks to have a greater reach in the young population. I would take advantage of dates such as Christmas, Halloween, Black Friday, Valentine's ... to do special advertising, and use techniques such as seasonal discounts and limited-time offers.

Is there tough competition in your industry? How do you stand out?

There is too much competition from both national and international producers. I would stand out for fun advertising that takes into account the interests and suggestions of the young population. The company would also stand out for having excellent customer service and shipment tracking.

What methods do you use to raise brand awareness?

I would be advertising the brand always on social networks. I would develop some strategy to make my content go viral, such as promoting content on the most popular networks or advertising with influencers. I would also involve potential customers in some processes such as product and packaging design.