ECL Assignment Questions
1. Describe ECLs strengths and weaknesses. Highlight these elements with respect to ECLs current financial situation.
ECLs strength is a characteristic that enhances value to products that are making it more special, unique, and advantageous when it compared to others. They have targeted a defined market segment, which are people who associate themselves with a sense of pride. Moreover, ECL has a more progressive vision in terms of social media marketing, which includes the owner. Some of the social media giants such as Instagram, Twitter is one of their signature marketing promotions.
In terms of its weaknesses, the organization is less efficient and needs to improve to align with the market trends. Therefore, its operation is less efficient than organizations that are already in the market. ECL is limited to resources, capabilities, skills that build a productive organization. ECL do not have management capabilities, financial support, and marketing skill that are required to have for an effective organization.
2. What is distinctive about the ECL and WCL brands?
Both of the brands are based on them of being simple and universal besides the fact that both of them based on coast-lifestyle. Moreover, ECL is more focused on tourists or residents who are loyal to their region. On the other hand, WCL is mostly focused on the market segment of being patriotic, make its customers proud of their region on a global scale. However, both of the brands are an advocate to their hometown.
3. What are the advantages and disadvantages of the limited-edition strategy? Is it a good idea to continue this strategy?
In terms of ECLs limited-edition strategy, it is an excellent strategy to attract a specific market segment to make the segment experience uniqueness of the brand and enhance its collection. Some customers are addicted to collect limited-edition products, which could be the potential market. Nonetheless, limited-edition products have lower sales volume in comparison to other products; for instance, Wu-Tang clan jersey produced and sold only 100 pieces. It will be a good strategy for more influential corporations like Nike or Adidas, but ECL does not have a similar customer base as them. Therefore, the approach is not worth implementing frequently.
4. Evaluate ECLs existing promotion strategies. Are they effective?
ECL is using guerrilla marketing tactics with a very lean budget. Their marketing strategy is mainly focused on social media the same as other small companies such as celebrity endorsement, ambassador programs, and others.
Moreover, ECLs founder, Alex, is one of ...
