Marketing Analysis Assignment

Marketing Analysis Assignment Words: 1770

This attestation comes in many different ways. First, there are the different ways of ordering which makes sure every customer can choose the option he or she likes best. Second, there is the “100% satisfaction” which makes sure that customers can return their product if there is no full satisfaction and the products will be replaced or refund. Also, there is the customer satisfaction department that is available 2417 in multiple languages free of charge. All this goes hand in hand with L. L. Bean’s “Golden Rule. ” Product L. L. Bean Inc. Is not the same type of retailer it was a century ago.

The company started out as a manufacturer and seller of hunting boots, became a catalog merchant, branched into retail store sales, and now is involved in online retailing (Boston. Com). The company still sells the original hunting boot. Today L. L. Bean also offers hundreds of other products, including apparel for men, women, and children, footwear, and, of course, outdoor gear for camping, fishing, hiking, and other sports (Liable. Com). L. L. Bean sells most of their merchandise nationally through internet and catalog orders (Liable. Com). There are a few retail stores as well as outlet stores n several northeastern states.

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It has two manufacturing facilities in Maine that make boots and tote bags and perform some customization of other manufactured products. Although the retailer sources 10 percent to 12 percent of its merchandise in the United States, the rest of its goods are made in Asia and Europe. It also has 6 retail stores and 14 factory outlets in the United States and Japan. Its products are found in over 200 million catalogs/yr. Plus 10 specialty catalogs. There are over 21,000 products that L. L. Bean currently sells, many have been classics throughout he companies heritage. Over the last two decades, L. L.

Bean has expanded its retail presence at home and abroad (Boston. Com). Currently it has 33 retail and outlet stores in the United States, located in the Northeast as well as in the Chicago area. The company opened its first international retail store in Tokyo, Japan, in 1992 and now operates dozens of stores in Japan and China. In addition, L. L. Bean sells online worldwide and mails its catalogs to customers in more than 160 countries. Over the course of nearly 100 years, L. L. Bean has diversified its sales channels (Liable. Com). L. L. Bean has promoted its products through word of mouth, a strong reputation and Outdoor Discovery Schools.

Shipping is also handled differently for each channel. Although customers who place orders online or through a catalog can select their preferred delivery method, about 90 percent of all direct-sales merchandise is shipped from Freeport by UPS (Liable. Com). As for the retail outlets, L. L. Bean operates its own private fleet to supply its stores in the states of Maine, Massachusetts, and New Hampshire. It uses a variety of less-than-truckload carriers to serve its remaining stores in other parts of the country. Pricing Products with the L. L. Bean name brand carry a premium price, but you get what you pay for.

Most other items are competitively priced. Pricing is average for the industry. Sales reached about US $1. 5 billion in 2010(Boston. Com). Guarantee/Return Policy: All L. L. Bean products carry a 100% satisfaction guarantee. If you’re not satisfied with your purchase, L. L. Bean will either replace it or give you your money back. Shipping Information: Shipping charges are based on the order total and vary from $4. 50, for orders up to $25, to $1 1. 95, for orders over $150. Orders are usually delivered within 3 to 4 equines days. Orders may be shipped by standard shipping or 2-day Express.

Additional charges may apply for express shipping. L. L. Bean also ships to Canada and international. Place L. L. Bean sells most of their merchandise nationally through internet and catalog orders (Liable. Com). There are a few retail stores as well as outlet stores in several northeastern states. It has two manufacturing facilities in Maine that make boots and tote bags and perform some customization of other manufactured products. Although the retailer sources 10 percent to 12 percent of its merchandise in the United States, the rest of its goods are made in Asia and Europe.

It also has 6 retail stores and 14 factory outlets in the United States and Japan. Its products are found in over 200 million catalogs/yr. Plus 10 specialty catalogs. There are over 21,000 products that L. L. Bean currently sells, many have been classics throughout the companies heritage. Over the last two decades, L. L. Bean has expanded its retail worldwide and mails its catalogs to customers in more than 160 countries. Five years after starting the company, Bean opened a retail store in Freeport, Maine, which still exists today as part of a seven-acre retail campus.

Several years ago, the company separated its retail store and direct-to-customer fulfillment operations. Since then, L. L. Bean has operated two distribution centers, both in Freeport; one for retail, the other for catalog and online sales. Shipping is also handled differently for each channel. Although customers who place orders online or through a catalog can select their preferred delivery method, about 90 percent of all direct-sales merchandise is to serve its remaining stores in other parts of the country. Promotion Over the course of nearly 100 years, L. L. Bean has diversified its sales channels (Liable. Com). L. L.

Bean has promoted its products through word of mouth, a strong reputation and Outdoor Discovery Schools. When Leon Leonardo Bean founded the company in 1912, he sold his boot through mail solicitation, which evolved into a catalog operation. For L. L. Bean, its attributes, benefits, strategic marketing, means of communication and ideas place its love with the outdoors and dedication to customer satisfaction continuously at the forefront. With the start of social media and technology, L. L. Bean is able to reach its efforts to a larger group of people as the age of environmental consciousness reaches and inspires more people.

As a result, they are able to spread their reach and influence. AL Bean promotes their products, sales and services in their catalog through the web, emails, social media and in other customer communications. They collaborate with their counterparts in design, marketing and merchandising to determine the best approach to positioning and selling in catalog and online. They also communicate L. L. Bean traditions and business philosophy to their target market. AL Bean drives the use of direct response, multi-channel and general advertising strategies and communications to promote their product sales and company services.

AL Bean knows how their products are made and what makes them unique. They work with merchandising partners to gather information. They craft product stories that resonate with their customers, close the sale and build their brand (Liable. Com). They maintain awareness of their competition in the retail and outdoor-sporting marketplace by reviewing competitors’ catalogs, websites, emails and reading pertinent books and periodicals. They secularly analyze research conducted by L. L. Bean as it relates to customer demographics, buying trends and buying behaviors.

They have a firm grasp of the fundamentals of direct response, multi-channel and digital marketing. AL Bean’s promotion strategies seem to be working. They are a unique brand that never strays from their founding Golden Rule: Sell good merchandise at a reasonable profit, treat your customers like human beings and they will always come back for more; therefore, they continue to have the similar drive that first prompted Leon Leonardo Bean to create the Maine Hunting Shoe and find new ways to gain nonusers’ interest and provide 100% satisfaction guaranteed.

Overall Marketing Strategy Analysis Some strategic decisions in AL Bean’s history show why doing what’s right by the customer has contributed to the success of their company: 1 . The no-questions- asked return policy It’s the hallmark that made AL Bean. If the customer’s not happy with what they bought, refund, replace it or fix it. Don’t hassle the customer. Make their lives easier. 2. More retail stores From 1915 until around 2000, AL Bean had only one retail store. Around that time, many companies began to close their operations to save on costs and migrated to ore on-line business.

AL Bean did the opposite and opened more retail stores in the US, as well as Japan and China (Liable. Com). Loyal AL Bean customers loved to visit the famous retail store in Freeport, Maine. So, Bean made their customers’ lives easier by bringing the retail store to the customer. They opened stores in geographic locations there were high concentrations of loyal catalog shoppers. So again, AL Bean made things better for the customers, by bringing the beloved L. L. Bean retail experience right into its customers’ backyards. 3. Free Shipping AL Bean responded to the customers by giving them free shipping.

Of course, the financial side of Bean has its motive: an upside potential 75% more orders. Integrated marketing program analysis When companies pay attention to their customers and offer an experience on the customers’ terms, the customers pay them back (Liable. Com). When Leon Leonardo Bean began making and selling boots in Freeport, Maine back in 1912, some customers would bring the boots back to Leon, if something wasn’t quite right. Leon always gladly accepted the returned boots, fixed them, improved them, replaced them or gave the customers their money back.

While the business grew to become a 1. Billion dollar outfitter with customers around the world, AL Bean has never wavered from its focus on the customer, and more specifically, the practice of doing things the way the customer wants; providing the experience that the customers asks for. Recommendations and Management Implications Marketing decision makers are responsible for the design and execution of marketing programs for products or brands. They operate under different names, such as product manager, brand manager, marketing manager, marketing director, or commercial director.

They choose the target markets and segments for their products ND services and develop and implement marketing mixes. Because of the proliferation of products and brands, the fragmentation of markets in an ever growing number of different segments, the fierceness of competition, and the overall acceleration of change, marketing decisions are becoming increasingly complex (seepage. Com). Therefore, decisions have to be made under increasing time pressure. Throughout its history, AL Bean has consistently responded to its customers’ desires, even if it mean doing things that were, well, the opposite of what other retailers were doing.

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