Marketing

EXECUTIVE SUMMARY

BUAYA is one of the best known and established apparel retailers in Singapore. It is recognized for quality and targeting mainly the working adults.

In 1990, BUAYA opened its flagship store in Takashimaya and has quickly become an essential fashion choice for working adults.

Environment Analysis

BUAYA opened its first store in Takayshimaya in 1992. Due to the fashionable designs, good quality and reasonable prices, BUAYA was very well received, making it a popular choice among working adults. This quickly propelled BUAYA into success and seizing the opportunity, 4 other outlets were opened, and all located in the main shopping districts namely Orchard ION, Plaza Singapura, CenterPoint and Suntec City.

The main target of BUAYA is the middle-class working adults. Hence, the price of the clothing is coherence with its quality where the target audience will be willing to pay for quality. Combining good quality and reasonable prices, BUAYA has been very successful for the past 10 years with a gross profit average of S$3 million however, in the recent 3 years there has been a drop in sales averaging at 30%.

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A product lifecycle plots the volume of sales of product from its launch to its decline and withdrawal. (McDonald, Wilson, 2011), there are five stages – Product development, Product Introduction, Product Growth and Product decline. According to the product lifecycle, BUAYA is currently at the stage of maturity where it must reconsider its marketing position in order to re-attain its original status as a leading apparel brand.

SWOT (strength, weakness, opportunity and treat) analysis is usually the starting point in formulating strategy, it exploits an organization’s opportunities and strengths while neutralizing its threat and avoiding or correcting its weakness. (Griffin, 2011).

Thus to propose and formulate a forward strategy for BUAYA to increase the sales revenue, the method of SWOT analysis is used to analysis in the follow:...