Amir Adnan Started its work in lifestyle industry by designing a small tie for himself at the time when he was a banker. Gradually he started receiving orders from friends and peers to design one for them. He, then decided to formally adopt this as a career and further excel in it. Lifestyle industry is all about creativity and innovative thinking which the USP was for Amir.
With the passage of time, Amir Adnan has been introduced and renowned for its traditional dresses for MEN with a quite new, unique and improved outlook. One design specific for one man has been its competitive edge which gave an overnight boost to Amir. It invested on the right time, right design and offered to the right segment.
At this point of time, Amir Adnan has many opportunities like a) Offering new products
b) Penetrating into the current market
c) Attract new segments & markets
d) Introducing diversified products to different markets
Amir Adnan has already been expanded into markets abroad facing many challenges in order to create and maintain its brand equity. Though Amir Adnan has successfully captured the local market as per its unique strategies based on LIFE STYLE segmentation, almost attracting different niches, charging a premium price and offering the desired product in a unique pattern, the decision to expand abroad is still a big question mark
Solutions required for below Issues/Situations:
a). Being a part of strategic management at Amir Adnan, what other segmentation techniques will you propose in order to capture the foreign markets successfully as merely lifestyle segmentation is not functional enough for the new targeted market.
b). While market targeting, Should Amir Adnan follow: FULL MARKET COVERAGE (Many products offered to all the segments) strategy, MARKET SPECIALIZATION (Several products offered to a particular customer group) strategy or PRODUCT SPECIALIZATION (One product offered to several segments in the market? Justify your choice...
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