The paper "Sass & Bide: Strategic Marketing Plan" is a perfect example of a case study on marketing. Sass & Bide, a company manufacturing clothes for women and children, was established in 1999 by Heidi Middleton and Jane Clarke who were former accounting graduates. Its headquarters are situated in Sydney Australia with outlets in Wellington and Melbourne (Sass & Bide, 2013). The company has been concentrating on the local Australian market with the aim of making quality and trendy products that meet the demands of low, middle, as well as high-income earners.
However, it has intentions of expanding the business to neighboring countries such as New Zealand and Indonesia among others. Also, the company plans on venturing into the European or the US markets later to compete with the famous designer brands (Sass & Bide, 2013). On the contrary, companies face different challenges in their operations right from production to the time products get to retailers. The greatest challenge is competition from companies manufacturing similar products. This is triggered by factors such as technological innovation, diverse demands in the market, eased barriers that encourage new ventures and an increase in population that raises the demand for clothes.
Therefore, the establishment of a differential advantage through the production of unique products will allow companies to provide a unique experience to its customers. Achievement of the company objectives will be possible through the use of a strategic plan. This report will provide a discussion on the hierarchy of strategic marketing plan for Sass & Bide that includes the product life cycle, new market entry, pioneer or follower strategies, growth strategies, shake- out, mature and declining strategies, new economy markets, organizational structures, marketing plans, marketing metrics, and marketing audit. 2.1 Product Life Cycle Product life cycle refers to the stages through which products go through from the time they are introduced in the market, through growth, maturity and their decline (Doha, Das & Pagell, 2013).
Manufacturers of Sass & Bide are expected to predict costs to be incurred in the future regarding changes in production, distribution, and sales (Xie & Simon, 2006). This is because the life cycle of products especially in the fashion industry is uncertain. There might be instances of a rise in the sale of clothes within a certain period of time and a decline towards the end.
Therefore, it is important for producers to be in a position to predict such trends and make the necessary changes. Also, when new models of clothes are developed, risks and resulting impacts should be assessed (Xie & Simon, 2006). In addition, a relationship has been established by Sass & Bide between purchasing practices and the life cycle of products (Doha, Das & Pagell, 2013). Different purchasing practices should be used by the company during different stages of the product life cycle to maintain high sales of products and for profit maximization.