Spanx Product’s Global Marketing

Cite this

Spanx is among the well-known products initially manufactured in the United States and has started to gain international recognition attracting customers worldwide. It had been only 13 years before Sarah Blakely discovered that footless pantyhose were helpful in molding a person’s most flexible body characteristics into any form desired. Although Blakely’s Atlanta-based business has expanded to 125 workers and over 200 items,

On-Time Delivery!
Get your customized and 100% plagiarism-free paper done in as little as 3 hours
Let’s start
322 specialists online

Spanx maintains that most of its goods are produced by production firms in the United States. It includes the “In-Power” line, which established Spanx famous and drew attention to Blakely. Many people worldwide have obesity complications, especially women, due to junky and oily foods. This product has a great potential to thrive in the global market (Zhou et al., 2019). From Hollywood’s occasions to neighborhood department shops, women have spread their Spanx addiction through.

It is believed that the business generated over $250 million in revenue last year without advertising. It is launching its first hold retail locations this month to provide consumers with a one-stop shopping experience (Zanette et al., 2019). Spanx is used mainly by celebrities in the United States. However, it has gained popularity in most world regions, such as China. In these countries, most people have problems with obesity, especially women. Obesity is due to an unhealthy diet and nutritional imbalances brought by overconsumption of meat products such as beef and pork.

Many celebrities would want to maintain their body figure for stage shows, a marketing strategy for this company. Spanx has increased the confidence of women and men who have built their physique and are free from the threats of body shaming by other people, increasing self-esteem and improved confidence while in public. However, with shops suffering from the “Amazon effect” and online purchasing on the increase, Spanx stepped up its Internet game last year, launching a new webpage to foster client connections (Joueid & Coenders, 2018). By year’s end, a significant portion of Spanx had been sold online, despite continuing growth in wholesale quantities.

In some countries, the legal implications could affect the launch of Spanx products, how the company should interact with its customers, and their methodologies to stock their inventory. Some of the legal aspects that threaten the launch of these products include consumer law. These are laws installed by the government to prevent the use of certain Spanx items in certain countries and states due to the fear of the associated health risks this Spanx may have on their population. Other legal factors may include discrimination laws where the government only demands products from their own countries (Zanette et al., 2019). Some countries also have health and safety laws requiring companies and organizations to meet the health and safety regulations threshold before launching a new product.

The economic implication could also affect the launching of the new products as the company can have limited resources to pay for high expertise and build their brand. Other countries have strict regulations on import and export duties and impose massive taxes on foreign products (Zhou et al., 2019). The company can also receive challenges in the technical factors; for example, some countries have limited skilled personnel to produce these products. Some Asian countries like China and Korea have a strong culture, beliefs, and customs that govern their behavior and opinions towards certain products, posing a challenge in launching new products in such countries.

For a new product such as Spanx seeking new markets, it is critical to do a market survey, identify the target customers or clients, and then develop a plan for reaching those groups. Developing these strategies is crucial for this company to launch these products into the new market successfully. The company will develop strategies such as organizing a pre-launch giveaway several days or weeks before the product’s actual launch into the new market (Gruner et al., 2019). It will create a feeling of excitement and high expectations in people who are potential future customers. Forming good relationships with renowned social media market influencers would be advisable for new products to thrive quickly. It will increase the product’s publicity and encourage online sales once the manufacturer launches it.

Yes, we can!
Our experts can deliver a custom Spanx Product’s Global Marketing paper for only $13.00 $11/page
Learn More
322 specialists online

Launching Spanx to the new market will require a properly structured procedure. First, learning how the level of their preference is determined by the customers. After that, a positioning statement shall be documented and pitched to all the stakeholders of the company. The appropriate strategies for maneuvering the market shall be adopted and set the necessary goals for the launch (Joueid & Coenders, 2018). Promotional strategies for the new product, such as giving takeaways, will be critical while preparing the team for the product’s final launch.

In conclusion, global market strategies have proven critical for many businesses to expand their brands and realize more success. The use of social media marketing and other online selling platforms such as Amazon has proved crucial in creating a good customer experience in choosing their best products according to their budget and more appealing. When companies are seeking new markets, it is a preferred business strategy to consider technological, cultural, and economic factors that may influence launching their products in a new country.

References

Gruner, Vomberg, A., Homburg, C., & Lukas, B. A. (2019). Supporting new product launches with social media communication and online advertising: sales volume and profit implications. Journal of Product Innovation Management, 36(2), 172-195.

Joueid, A., & Coenders, G. (2018). Marketing innovation and new product portfolios. A compositional approach. Journal of Open Innovation: Technology, Market, and Complexity, 4(2), 19.

Zanette, M. C., & Scaraboto, D. (2019). From the corset to Spanx: shapewear as a marketplace icon. Consumption Markets & Culture, 22(2), 183-199.

Zhou, L., & Gupta, S. M. (2019). Marketing research and life cycle pricing strategies for new and remanufactured products. Journal of Remanufacturing, 9(1), 29-50.

Cite this paper

Select style

Reference

BusinessEssay. (2022, September 13). Spanx Product's Global Marketing. Retrieved from https://business-essay.com/spanx-products-global-marketing/

Reference

BusinessEssay. (2022, September 13). Spanx Product's Global Marketing. https://business-essay.com/spanx-products-global-marketing/

Work Cited

"Spanx Product's Global Marketing." BusinessEssay, 13 Sept. 2022, business-essay.com/spanx-products-global-marketing/.

References

BusinessEssay. (2022) 'Spanx Product's Global Marketing'. 13 September.

References

BusinessEssay. 2022. "Spanx Product's Global Marketing." September 13, 2022. https://business-essay.com/spanx-products-global-marketing/.

1. BusinessEssay. "Spanx Product's Global Marketing." September 13, 2022. https://business-essay.com/spanx-products-global-marketing/.


Bibliography


BusinessEssay. "Spanx Product's Global Marketing." September 13, 2022. https://business-essay.com/spanx-products-global-marketing/.