The paper “ SoFair’ s Marketing and Branding, Strategic Theories and Models, Key Segments and Targeting, SMART Goals, Ideas for Implementation and Measurement" is a fascinating example of a case study on marketing. Organizations and businesses have the potentials and opportunities to increase sales and this can be achieved through the utilization of strategic and marketing theories in ensuring more consumers appreciate the products. So Fair is an example of an organization that has the potential to increase its market share and also sales. The problem with SoFair is the lack of promotional strategy and logistics.
The organization should introduce strategies to ensure consumers have knowledge regarding the product and also to increase sales. The aim of this report is to analyze some strategic theories and models that illustrate the position of SoFair, formulates and implements some objectives that will see the organizations become more profitable. Strategic Theories and ModelGame theoryGame theory can be defined as the study of decision making in an environment that has intelligent and rational individuals based on a situation of conflict and cooperation. The theory presents a situation where one action results in a different action (Baker and Saren, 2010).
For example, in the case of SoFair, the company aims to sell bags obtained from Indian women and to sell them in Southampton. There are two scenarios that might occur which are to help the women from India and also to be able to sell these bags while ensuring competitors are also addressed. The aim of SoFair is to assist but the strategy employed should be viable and the products are of better quality to their competitors to be able to sell more products (Ludicke, 2006).
Therefore, the theory wants a situation where cooperation yields better benefits compared to conflict. If the Indian women collaborate effectively with SoFair, it translates in benefits to both organizations based on their aims (Palmer, 2012)Signaling theorySignaling theory is important in describing the behavior of two parties that may access information that is different (Gupta, 2009). So Fair and Indian women can be taken as the two parties that have access to different information. SoFair Company has information about the importance of the bags made by Indian women and also they can access the market (Blythe and Zimmerman, 2005).
On the other hand, Indian women have information on the bags and they can guarantee that they can produce bags of a higher quality compared to competitors (Bush and Hunt, 2011). The aim of SoFair is to assist the Indian women; therefore, SoFair will signal the Indian women and present their proposal and obtain feedback from the Indian women. Conversely, the Indian women produce the bags and signals SoFair and informing the bags are ready for shipment (Haberer, 2010).
Hence, the two parties signal each other towards fulfilling their different aims and objectivesInnovation theoryOrganizations should be innovative to deal with uncertainty and disequilibrium. Organizations such as SoFair should be innovative in their services and processes to ensure they become competitive (Baran and Davis, 2011). So Fair should discover new markets and be innovative in all processes to ensure the products are appreciated by the consumers (Gennard and Judge, 2005). For SoFair, it should look for new markets and also assist the producers in producing products that can be appreciated by more than the current consumers (Wang, 2010).
In addition, SoFair should formulate and implement a strategy that will ensure the products are received at a shorter period not as before e. g. between 6-8 weeks. So Fair should work on logistics and deliver the products within the shortest time.