1.0 Introduction Rip Curl‚ one of the world’s largest surf-wear companies which designed to meet the needs of the young and vibrant men and women who commonly enjoy surfing and seek for premium products. The purpose of this report is to create an Integrated Marketing Communications plan based on the situational analysis and research about the company Rip Curl. The IMC objective for this plan is to increase Rip Curl’s brand awareness by 10% among the target group of people aged 18 to 34 via learning
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Indeed Rip Curl has gone from a garage enterprise established by two Victorian surfers into a global business which now employs over 1500 people‚ with factory outlets all over the world. Rip Curl is a major Australian manufacturer started by two surfers in Torquay producing surfboards from their garden shed‚ but the business only started to grow when they made the logical step of manufacturing wetsuits. Today Rip Curl produces not only surf gear but also apparel‚ sunglasses‚ watches‚ footwear and
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6/21/14 Patrick Zagarino Professor JungHwa Hong Course MKTG 311 Rip Curl Marketing Analysis Rip Curl is a world leader in surfboard‚ wetsuit‚ surf wear‚ watch‚ surf accessory and mountain wear manufacturing. Their name is synonymous with quality and customer satisfaction. They have continually produced high quality dependable products that are not easily replaced by any other competitor. The scene was set in 1969‚ Lance Armstrong was about to step foot on the moon‚ and Bells Beach‚ a world
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BUSINESS STUDIES - RIP CURL BUSINESS REPORT SYNOPSIS Rip Curl have been operating in Australia since 1969 dealing in surfing products and accessories. Over the years consumer tastes have constantly changed and other surfing brands have moved into the market forcing Rip Curl to diversify their products and marketing strategies to remain one of Australia’s most successful businesses BUSINESS STRUCTURE Situational analysis Rip curl was born in 1969 when Brian Singer and Doug Warbick started
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discount battle and promising the cost of more staples will soon drop. In this article we can see what the Coles use the marketing concepts of customer wants‚ pricing‚ and satisfaction to the market. Coles’s latest product is more price cuts planned in the next few weeks. It is shown that‚ Coles are using market –penetration pricing strategies‚ setting a low price for a new product in the next few weeks to attract a large number of buyers and a large market share (Kotler et al‚ 2010 p7). Furthermore
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Pricing Strategies The three types of pricing strategies are skimming‚ penetration‚ and competitive. Skimming pricing strategy is defined as a pricing strategy involving the use of a high price relative to competitive offerings (Boone and Kurtz‚ p641). Skimming can be used to introduce a new product slowly. This allows the distribution process to be able to keep up with the market. Sometimes called market-plus pricing‚ intentionally setting a relatively high price compared with prices
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between sellers and purchasers. In modern times‚ pricing methods and strategies have taken a number of forms. This paper is aim to explain the different types of Pricing strategies‚ more specifically the market-penetration pricing strategy. Pricing products‚ new products or existing products require the use of different strategies. For example‚ when pricing a new product‚ businesses can use either market-penetration pricing or a price-skimming strategy (Armstrong and Kotler‚ 2005) (Kotler‚ Brown
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Pricing Strategy To set a pricing strategy‚ there are number of steps taken into consideration as follows: Step 1: Our pricing objectives are to maximize market share and increase sales volume. This strategy will be used when TrackR is being launched into the market. We charge a reasonable price in order for TrackR to be accessible in the market as quickly as possible and also to encourage the interest and excitement of a product. Because of the low price‚ we are able to raise the sales volume easily
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http://www.bized.ac.uk Pricing Strategies Copyright 2006 – Biz/ed http://www.bized.ac.uk Pricing Strategies Copyright 2006 – Biz/ed http://www.bized.ac.uk Penetration Pricing Copyright 2006 – Biz/ed http://www.bized.ac.uk Penetration Pricing • Price set to ‘penetrate the market’ • ‘Low’ price to secure high volumes • Typical in mass market products – chocolate bars‚ food stuffs‚ household goods‚ etc. • Suitable for products with long anticipated life cycles
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Pricing Strategies Competition based pricing Setting the price based upon prices of the similar competitor products. Competitive pricing is based on three types of competitive products: * Products having lasting distinctiveness from competitor’s product. Here we can assume * The product has low price elasticity. * The product has low cross elasticity. * The demand for the product will rise. * Products have perishable distinctiveness from competitor’s product‚ assuming the product
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