Case Study Simulation Cotton On Limited Marketing Essay

Case Study Simulation Cotton On Limited Marketing Essay The purpose of the report is to establish three strategies which will address issues within Cotton-On Ltd causing their current financial troubles. The three chosen strategies are: research consumer buying habits, introduce online sales and expand sales into the European Union countries. These strategies will be explored and discussed to explain how they help improve the situation at Cotton-On Ltd. The first strategy â€Å"research consumer buying habits† shows how we look through the range of methods used for researching consumer buying habits in order to make a recommendation which is most suitable related to Cotton-On Ltd. Gathered data can be used to make decisions regarding various concerns with Cotton-On Ltd, such as product range, pricing or available sales channels. The methods used for researching consumer buying habits helps support other strategies because it allows Cotton-On Ltd to understand potential customers in new market settings. The second strategy â€Å"i ntroduce online sales† refers to Cotton-On Ltd using the internet as a tool to strengthen the company because it is increasingly beneficial for them. Through extensive research Cotton-On Ltd should introduce online sales because of their position within the market otherwise they will be disadvantaged compared to competitors. Also the potential of the online sales channel is an opportunity for them to expand online and take advantage of the internet as a marketing tool. However there is a range of different ways Cotton-On Ltd can choose to approach selling their products online and this will be further discussed within the report. The third strategy â€Å"expand sales into European Union countries† explores this topic in context of online sales. The UK is a leading European country in relation to online sales however there are bigger markets to be explored, since some of these markets are expected to grow in the next few years. The topics which will be discussed is the E uropean market related to Cotton-On Ltd, the aspect of the language barrier, the pricing / currency and any other points will be taken into consideration. All three strategies are explained to show the advantages for Cotton-On Ltd and highlight the main issues. We show how the strategies are linked together and where possible, suggest methods for implementation and overcoming issues. Those strategies are a starting point for the company to overcome their problems. Research Consumer Buying Habits Methodology Consumer buying habit is a complex matter and there are many factors that influence buying decision of the customer. When it comes to researching consumer behaviour for a business it is the greatest mystery of any business to solve (Matt Alderton, no date). There are many ways we could find out about consumer buying habits, but before doing anything else we need to investigate Cotton-On Ltd, its System or any previous study on the matter. One of the following techniques would be chosen to suit Cotton-On Ltd namely, interview, questionnaire, survey and consumer panel, but the best would be to organize customer focus group to help Cotton-On Ltd identify and find consumer specific needs. Customer focus group will produce good customer data in their own words, which would help create more effective marketing campaign and will expose problems within Cotton-On Ltd (Matt Alderton, no date). To get the best out of customer focus group it is important to stay focused on Cotton-On Ltd objectives that would have to be why the business is losing sale and how to save money?