Company Introduction, Market Segmentation, and Product Positioning Assignment

Company Introduction, Market Segmentation, and Product Positioning - Assignment Example Additionally, recent financial crisis has also affected company’s revenue trends and has raised concern in management to focus on foreign markets and explore regions which have potential demand for its products. The management of the company is now planning to target a foreign market for its products, where the company can expand its products’ line and generate more revenues. In this regard, the management of the company believe that UAE is the most appropriate target foreign market while considering the nature of company’s business. Mission Statement UW’s mission statement is to â€Å"become a favorite clothing brand of kids both in UK and internationally†. Target Foreign Market for Company’s Product The company has planned to target kids clothing market in the United Arab Emirates (UAE). The rationale for doing so is that there has been a phenomenal increase recorded in the demand and consumption of kids clothing. Moreover, kids clothing br ands which have already entered UAE’s market have earned their place in the market. ... Following are the key factors favoring UAE as a target market for UW’s brand: Kids clothing brands market has experienced a growth of 16 % in the United Arab Emirates during the year 2010 (Jones, 2012). According to Liwa Trading, kids clothing brands, who are popular in other parts of the world, are expressing their wish to enter UAE’s market (Jones, 2012). Kids in the UAE have an increasing concern of what they wear and have developed a fashion sense (Jones, 2012). In 2011, there were about $ 1 billion spent by people living in the UAE on children clothing and footwear brands, thus implying how strong demand and consumption is for kids clothing products (Jones, 2012). There is a wide range of prices of clothing available in the UAE’s store, i.e. prices of clothing products are ranged between Dh 250 and Dh 2,500, and as a result UW can set its target price for products relatively easily (Jones, 2012). Potential Audience for a Marketing Plan The potential audience s of a marketing plan can be both internal and external stakeholders of a business. These stakeholders include management, departmental staff, investors, regulatory authorities, analysts, customers and others. The needs of this wide audience for a marketing plan may vary from person to person. It is actually the perceptions they have which in turn shape their needs. People listen what they want to listen, and the same goes for marketing plan. Information contained in a marketing plan may be of high value and interest for management, but at the same time it may be regarded as useless or even unworthy to be looked at by others. Therefore, a perfect marketing plan caters the