Conducting situational analysis Assignment Example | Topics and Well Written Essays - 1750 words

Conducting situational analysis - Assignment Example They have had some failures such as targeting to kids; however, they have managed to take that in their stride and now are a bigger and better company than before. Conducting a situational analysis A marketing plan is used to convey the attributes and benefits of a product or service to its potential customers. It comprises of seven steps and one of them is conducting a situational analysis after the introduction stage. This step is one of the essential steps in creating a long term and successful relationship with customers. (Cohen, 1995) Introduction Introduction comprises of the company’s products, prices, placement etc. and what sort of products or services a company sells; essentially the background of the company and what it stands for. (Cohen, 1995) ASOS.com is a UK based website which is the largest online store for beauty and fashion products. It is only online, and it sells its own goods as well as branded goods. Sales have been on the rise since the company started, with profits before tax jumping from 15.7 million pounds to 30.3 million pounds in May 2012. The target market is mainly men and women between the ages of 18 and 34. ASOS headquarters is Camden Town, located in the North of London in a building called the Greater London House. It offers 500,000 product lines ranging from menswear, women’s wear, jewellery, beauty products, accessories and even footwear. The websites target not only UK though, they target other areas such as USA, Germany, Spain, France, Italy, Spain and Australia as well and ships these products to many more countries from UK, which is its central distributor and origin and that is where the headquarters are located. A 2011 report shows that 13.6 million different visitors visit the website every month and there are registered users as well as active users and customers. The fulfillment centre for ASOS is in Yorkshire. ASOS was developed in 2000 in June and its founders are Quentin Griffiths and Nick Robertson . It is UK’s biggest retailer of fashion and beauty products online with more than 2000 employees. The acronym ASOS stands for ‘As seen on Screen’ and it changes stylistically to showcase the image of the brand. It has faced some issues as well, but overall the website has seen success stories. It also developed holdings in 2001 which became part of London Stock Exchange and 2006; it was also the pioneer of online stores launching a catwalk. In 2007, ASOS introduced its ASOS Magazine and it grew to become a lifestyle, and a store as well as launching a mobile and expanding to other areas and eventually opening a new office in Australia. One of the features that ASOS provides its customers is the facility of looking for content on their website with videos of catwalks and pictures and videos of the clothing items. It also runs a fashion blog simultaneously which have articles posted which are related to fashion and beauty topics; such as celebrities and their live s as well as entertaining news and the clothes which they are wearing and available on the site are then provided with links on the blog which leads customers to the main retail page. ASOS also has an outlet which is the discount portion of ASOS and the products that are coming at the end of a line or are from a previous season are at glorious discounts of up to 75%. It is connected to the main site and it is basically a competitor outlet with E-tailers and other discount stores. ASOS also provides the