FERKNOT Case Solution
Company’s Background
Mr. Jorge and Mr. Ryan had completed their undergraduate program from The University of Western London, Ontario and started with the new venture “FERKNOT”, which increased the market share of clothing industry. They started surveying different markets, which include Europe, Southeast Asia and gathered more than 40 tailors before starting the business. They looked for different producers who could make their desired products.
Industry Analysis
They changed the marketing plan according to their needs because the core motive of the company was leading their brand in the premium shirt markets. They used different strategy. Firstly, they opened a retail store in order to promote the push strategy, which increased the demand of the products in the minds of customer by convincing them in small platform. The second strategy was to target the retail and departmental store at wholesale price in order to get more revenue, which would increase their liquidity ratio. The third strategy which they used was to increase its force of sale representatives in the city or rural areas.
Competition
The management of the company decided to target the main leader of the market by providing premium shirt with unique designs. There are two competitors who made premium shirt designs and became the core competitors of the industry, which include ROBERT GRAHAM & FRED PERRY. The owner planned to set Ferknot as a leading company in the overall market.
Growth Plan
Jorge, who was the president of Ferknot, wanted to begin the association's own chain of physical store. As a premium brand, which was effective in giving striking formal shirts, Ferknot began from an online webpage possessed by the organization.In order to expand the organization, Calderon arranged a retail model that allowed Ferknot to begin its own chain of store. It was understood that a retail location would help Ferknot in guaranteeing the clients’ trust as well as it enabled the brand to be productive.
Analysis of Decision
The company decided to expand its operation by starting its own chain of retail store, as a result allowing direct access to customers. Following is the analysis of the decision...................
This is just a sample partial case solution. Please place the order on the website to order your own originally done case solution.
Related Case Solutions & Analyses:
Marriott Corp.: The Cost of Capital
Eli Lilly and Co.: Drug Development Strategy (A)
Oscar Mayer: Strategic Marketing Planning
Wildcat Capital Investors: Real Estate Private Equity
Nike Football: World Cup 2010 South Africa
WingspanBank.com (B): Should This Bird Still Fly
JAIKUMAR-TEXTILES Ltd.
Plan a Rapid Cycle Improvement Project
Western Assets Arbitrage
Management Company 2010
