This is a report about the marketing 7ps issues of one of the leading fashion houses of Bangladesh, Ecstasy Fashion. This company is very famous for its superb quality men’s wear. Quality is the first priority of Ecstasy Fashion. From the begging to the end of this report, we have sort out how a company can be successful by performing 7ps marketing activity from the very beginning.
HISTORY OF CATS EYE
Ecstasy Fashion Accessories, Inc. started its operations in 1983, exporting fashion jewellery and accessories. With a solid background of 20 years in the field of fashion jewellery manufacturing, the company with 50 employees and 82 subcontractors is looking forward to a steady growth; especially in the European markets. Well the small company Ecstasy Fashion started its business with one outlet only. Now they have around thirty one branches in the major cities of Bangladesh such as Dhaka, Chittagong, Sylhet, Khulna etc. In this way the journey of Ecstasy Fashion started and now they are one of the highly appreciable, profitable RMG Company of Bangladesh.
Ecstasy Fashion is very conscious about its reputation & status thus we can see the reflection of status in its highly interior showrooms with highly trained salespeople. Their focus is to satisfy their customer and their target market actually covers different age groups especially from teen age to onwards.
MISSION & VISION OF ECSTASY FASHION
The mission statement of Ecstasy Fashion is “To be the most popular and trusted Men’s wear Brand manufacturer and retailer of the country.”
Goals and Objectives of Ecstasy Fashion are: From the inception the goal is to create a style statement that suits the discerning individual, while keeping a stringent eye on quality yet being affordable. The unique styles are created based on years of experience and keeping up with global trends that have placed our brands as the leaders in the market. Moreover we want internationally recognition. That’s why we are working hard to meet the quality & standard of the international market. We are focused on high productivity, team orientation & creativity.
MARKETING MIX OF Ecstasy Fashion
Marketing mix is the full combination of 7P’s (Product, Place, Price, Promotion, People, Process, Physical environment). Ecstasy Fashion does all the activities (manufacturing, sales, and distribution) by themselves. Here is the marketing mix of Ecstasy Fashion:
In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retailing, products are called merchandise.
Ecstasy Fashion produces different types of products for men. They have their own production house in Narayanganj. They have no distributor or retailer. They don’t sell in wholesale. What they do is that after production, directly by their own transportation vehicle they send their products to their showrooms. Because of no supply chain, they can keep their products price reasonable. Another important thing is that they don’t store inventory. Ecstasy Fashion purchases their product material from China, Malaysia & Bangkok mostly. They also use Bangladeshi materials for production.
❖ Polo T-Shirts
❖ Seasonal Dresses (Winter Collection, Summer Collection etc.)
The sum or amount of money at which a thing is valued, or the value which a seller sets on his goods in market; that for which something is bought or sold, or offered for sale; equivalent in money or other means of exchange; current value or rate paid or demanded in market or in barter; cost.
It is the motto of Ecstasy Fashion to increase its market growth as possible while protecting the captured market share. Ecstasy Fashion believes that customer loyalty is needed to remain profitable. Ecstasy Fashion sets their price considering their...