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The study will provide detailed information about the Fat Face Company which had been pioneered in achieving sustainability and green marketing. It would also enhance knowledge about the origin, background, and strategic objectives of this company. On the other hand, it would also enhance the analysis of the decision related to the international market that this Fat Face Company wants to enter in the future. Moreover, it would also examine the level of the company's global operations and its worldwide competitiveness. The study would also depict an evaluation of the company's modes of market entry into new markets and the international strategies of marketing in the fresh market. Finally, it would give a suitable recommendation and conclusion about the overall lessons that had been learned from this evaluation.
Fat Face Company is a lifestyle accessory and clothing retail organization in the UK that has its headquarters in Hampshire. The goods that are being manufactured and sold by this company are accessories, footwear, and clothing. On the other hand, this company actually was founded by Jules Leaver and Tim Slade as a company that used to sell T-shirts at ski resorts. Moreover, this organization opened its first retail shop in 1993. However, by 2014 this company had 209 Fat Face stores in the UK and other parts of the world. The company also has its retail stores in Ireland too. The current CEO of this organization is Liz Evans and this company has been successful in earning annual revenue of 200 million GBP (fatface, 2022). The strategic objective of the Fat Face Company is to expand its business in the international market in different parts of the world.
The overall global operations of the Fat Face Company had grown and increased at a high level and extent with the opening of a large number of new shops and earning millions as overseas revenue worldwide. This is evident from the fact that this organization has incurred £220.7 million of sales in the year 2016 thereby, gaining a 7.4% increment on a yearly basis. On the other hand, it has also been recognized that Fat Face Company had been successful in opening additional new stores in the three new regions in the United States and 12 new stores in the UK in this same period. Moreover, it has been identified that this organization seems to have made £10.1 million on physical assets that involve a fresh 12000 sq ft center of distribution which is finalized to be started and inaugurated at Dunsbury Hill Farm in Havant (Cuervo-Cazurra et al., 2018). On the other hand, the company had achieved success in a global e-commerce platform with a 20.6% growth of sales that seems to account for 18% of the entire national and international sales. Moreover, it has been recognized that this company had been successful in maintaining a stance of price the Christmas and generated growth of sales in every medium throughout the 12-month term.
It has been recognized that as the maximum projects related to investment have been completed, hence, they are trying to enter into a new phase of expansion (Götz and Jankowska, 2020). This is evident from the fact that they now endure larger IT and physical capability for driving their global and multichannel ambitions and are based on additional increments in EBITDA and sales. On the other hand, the retailer also has been successful in opening a total of 228 stores in Ireland, the UK, and the United States where their shops are further situated in holiday locations, market towns, big footfall traveling hubs, and high street shopping malls (Borsatto and Amui, 2019). They have also been successful in opening new brands and subsidiaries in different nations, some solely while others are in partnership with big clothing firms.
The new international market that the Fat Face Company should enter is India because it has been identified that this country is one of the fastest-growing economies with new rising clothing and IT industry. Moreover, it has also been identified that India is the fifth-largest economy in the world. On the other hand, India has been very suitable from the political, economical, environmental, and social perspectives for huge investment and expansion for this company. Thus, it can be said that the ease of doing business is very high in India due to the security concerns also as no civil war or terrorist attacks on major economical cities takes place frequently accept the deadliest attack that took place in Mumbai in 2008 (Pattnaik et al., 2021). The Fat Face Company will also have new target customers of all age groups as every individual youngster or old age has a huge addiction and desire of buying new clothes and doing shopping, especially during the festive seasons. Moreover, there are various local suiting and clothing shops and outfits with whom this organization could make partnerships.
Thus, it can be said that the company would be able to gain huge sales maximization in the entire India, especially in the metropolitan cities such as Kolkata, Mumbai, Delhi, and Chennai (Suram, 2018). While the enterprise would go to distinctive towns throughout India, they might benefit from the possibility to offset slumps in a single marketplace with the aid of high-quality actions in any other. This is one advantage of India's diversity. If marketplace intelligence persists regarding an oft-neglected Tier 2 or Tier three marketplace in which your competition has no longer but increased, they would benefit from the gain of being the primary mover. In that manner, they get the threat to construct robust client joins and keep in mind costs earlier than anybody else. They may additionally benefit desire in a supply system with companies and obtain aid for destiny advertising and marketing campaigns.
The usages of inclusive supply styles for agencies have helped in increasing consumer bases in speedy developing client markets including India (Lambert, 2022). With one of the globe’s youngest populations, India additionally has a large number of first-time clients. Those clients are keen to attempt new merchandise and therefore, lesser attempts may be required with the aid of entrepreneurs to transform them into paying clients. A large upward push in net insight would bring about over one billion sturdy net target markets in India by means of 2030. This trendier, constantly-related, millennial target market is extra amenable to virtual impacts than its precursor (Athukorala, 2019). As ease of doing enterprise in India maintains to enhance, demanding situations together with talent-hiring with the aid of the brand new staff, healthcare, and involvement of rural India into the incorporated marketplace financial system might remain to materialize.
The STP model is beneficial while developing advertising communications plans because it allows entrepreneurs to prioritize propositions after which they broaden and supply customized and applicable information to have interaction with unique audiences. The 3-step funnel includes marketplace segmentation, marketplace targeting, and product positioning. Inside their studies-based totally marketplace segmentation segment, the organization is aiming to become aware of a foundation for the segmentation of the company's goal clients and decide on vital traits to distinguish every marketplace section (Sutanti et al., 2018). While growing their targeting and positioning approach, they need to examine the ability and business elegance of every phase, after which they broaden exact product positioning for every decision on phase, consisting of a tailor-made advertising and marketing mix primarily based on their information of that section. STP advertising is applicable to virtual advertising and marketing too at an extra strategic interaction degree. As an example, making use of advertising and marketing personas could assist in broadening greater applicable virtual interactions as proven with the aid of those opportunity tactical electronic mail client segmentation tactics.
Market segmentation by the Fat Face Company is required to be done by recognizing and identifying the basis for segmentation. Moreover, they are also required to make a determination of the major traits of an individual selected market segment. On the other hand, for segmenting the market of India it is necessary for this company to analyze the different demographics of each state of India on the basis of gender, age, education, income, marital status, category of residence, and others (Kalam, 2020). On the other hand, they are also required to gain knowledge about the psychographics of Indian society through evaluating and observing the emotions and personalities depending on attitude, connected to buying patterns, and leadership features.
The Fat Face Company can do targeting of the market with the help of evaluating and analyzing commercial and potential attractiveness of every segment. On the other hand, they are also needed to choose single or additional segments. The target of the market of India can be done by this organization by analyzing the credential size which fits in the case of this selected nation as the geographic and market size of India is huge and diverse (Thomas and George, 2021). On the other hand, while targeting the Indian market, it is necessary that calculable distinction should prevail among the segments.
Moreover, they also should consider the fact that assumed and desired profits should cross the overall expenditures of extra marketing plans and other alternates. It is further necessary for the Fat Face Company to analyze that every market segment should be reachable to their team and the segment should be able to gain the marketing messages. Thus, the target market that the Fat Face Company must select is the huge shopping malls, busy local public market, and footfall market of the big metropolitan and non-metropolitan cities such as Kanpur, Lucknow, Bengaluru, Hyderabad, Kolkata, Mumbai, and others.
The Fat Face Company should make a position in retail clothing and accessories through developing deep product placing for chosen segments. On the other hand, they are also needed to create a marketing mix for every chosen segment. However, the marketing mix can also help them in understanding the type of clothing products that are best for the particular position and place (Romppanen, 2021). It further assists in enhancing the suitable promotional techniques that they should adopt for making the Indian customers aware of the types of clothes that they would be selling at their stores at different prices and discount offers during the festive season.
The international strategy in the new market of the Fat Face Company seems to be first studied about the entire market structure and condition of the foreign nation along with analyzing the different tastes and p
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