Published by MBA Skool Team, Last Updated: January 18, 2019
Marketing Strategy of VF Corporation analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on VF Corporation marketing mix, help the brand succeed in the market.
VF Corporation marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the VF Corporation Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in VF Corporation marketing strategy can be explained as follows:
VF Corporation is one of the world’s leading apparel, footwear and accessories’ companies in the world. VF Corporation offers more than 30 brands under its portfolio that can be classified into primarily four segments:
Under the Outdoor segment, they offer brands like Icebreaker, SmartWool, and Altra. In the Active segment, the company boasts of brands like Eagle Creek, Kipling while in the Work segment they have Kodiak, Terra as brands. VF Corporation’s most popular brands come under the Jeans segment where they offer brands like Lee and Wrangler. There are so many brands under their portfolio that it can cater to several segments through their product lines. Some of them have been produced for a long amount of time and hence it offers a unique blend of heritage as well as toughness and modern designs with assured quality.
Image: company website
VF Corporation Price/Pricing Strategy:
Below is the pricing strategy in VF Corporation marketing strategy:
Since VF Corporation have a diverse marketing mix product portfolio under their belt, they can cater a wide range of customers varying from people who are looking for formal comfortable apparel to casual rugged apparel that associates toughness and ruggedness to the personality.
VF Corporation emphasise on the quality design and craftsmanship in producing their product. Hence their pricing varies across the product and of course, the strategy depends on the quality as well as the customer segmented targeted. The prices are also dependent on the markets they are catering to, the competition status and seasonality to offer discounts to boost sales.
Following is the distribution strategy in the VF Corporation marketing mix:
VF Corporation has a strong global reach owing to a robust distribution network. Its availability and selling of their products depend on the product under its portfolio. While few of them are more concentrated on US, UK markets; certain brands like Lee and Wrangler have global outreach and they are found in South Asian markets like India, China etc. For VF Corporation products like Lee, they have begun their production in China and hence their global outreach for these products has increased. Most of their products are sold in high-end retail stores, traditional department stores in the US and European market.
The brands which have global outreach are found in mass markets, through e-commerce retail as well as in multi-brand partnership stores.
VF Corporation Promotion & Advertising Strategy:
The promotional and advertising strategy in the VF Corporation marketing strategy is as follows:
VF Corporation is a unique blend of heritage and modern designs and offer a wide variety of brands under its umbrella. Hence it follows a strategy of promoting their brands instead of their company. Their promotional strategies include media advertisements, sponsoring events, celebrity endorsements etc. For brands like Wrangler, they feature in football TV commercials and try to associate their ruggedness to it. Again for brands like Lee, they came up with unique LEE National Denim Day, to promote social causes. Over the years, VF Corporation has realigned its promotional strategy and has become more inclined to increase its digital presence through YouTube videos, Instagram and Facebook posts. For a few brands, they are trying to change their brand perception and increase their acceptability among the masses. Hence this completes the marketing mix of VF Corporation.
About VF Corporation:
VF Corporation is an US based apparel and footwear company that began its journey in 1899. Operating from its headquarters at Greensboro, North Carolina, the company not only deals in apparel and footwear but also enjoys a market share of around 55% in the backpack sector in the US market. The company is planning to shift its headquarters to Denver as it is trying to alter its focus to outdoor wears.
It carries a long heritage of production of quality products and hence has emerged as a global force in the apparel market worldwide. Recently, they have announced their intention to separate into two publicly traded companies VF Corporation and Kontoor Brands Inc.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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