Answered: Please create IMC Recommendation for…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Please create IMC Recommendation for GOOD LUCK HUMANS company. ASAP

Transcribed Image Text:4:07 PESTLE Analysis Political Factors: - Labor Laws: Given that Good Luck Humans relies on hiring people from underprivileged backgrounds, the firm may come under fire for its compliance with labor regulations, fair compensation, and working conditions. In order to uphold moral behavior, stay out of trouble with the law, and prevent negative publicity, compliance with these standards is essential. - Trade Policies: Any modifications to trade regulations may have an effect on where their products' raw materials come from. Import restrictions or tariffs may have an impact on manufacturing costs, which may therefore have an impact on pricing tactics. Economic Factors: - Income Levels: Economic fluctuations can affect the disposable income of the target affluent market that Goo Luck Humans caters to. During economic downturns, luxury spending might be reduced, affecting the company's sales and revenue. - Inflation and Currency Rates: Variations in inflation rates and currency exchange rates can have an effect on labor and material costs. If manufacturing prices rise dramatically, this may have an impact on pricing policies and overall profitability. Social Factors: - Socioeconomic Impact: The emphasis that Good Luck Humans places on hiring women from underprivileged economic backgrounds advances society. It improves the brand's reputation and draws in customers who care about social issues. - Consumer Trends: The company's offers are in line with the growing trend of consumers favoring handcrafted, distinctive, and ethically created goods. Sales among customers who place a high value on socially conscious purchases can be increased by comprehending and responding to these trends.

Transcribed Image Text:4:00 1. Company Historical Milestone After founding Good Luck Humans in 2016, the company started off by making plush toys, floor cushions, Lucky Button chairs, Lucky Pineapples, Lucky necklaces, and Good Luck dolls. The company eventually added a unique range of clothes to its assortment of accessories, which now included bracelets, earrings, bags, and clutches. The Good Luck floor pillows, which are made by women from economically disadvantaged neighborhoods in Las Pinas and Paranaque, are particularly noteworthy examples of the brand's dedication to craftsmanship. Each cushion is made up of at least 200 Lucky Buttons that are painstakingly hand-sewn and hand-embroidered. Since its launch, the brand has been present at Aphro Living in Makati and has grown in popularity. On July 13, 2019, Good Luck Humans held its inaugural pop-up event to highlight its distinctive and varied line of products at Craft MNL on Pasay Road, Makati. After such a great launch, the brand proceeded to grow, holding a second pop-up at Rockwell Center's Power Plant Mall. With its unique products and dedication to handcrafted items, Good Luck Humans has established a name for itself in the fashion and lifestyle industries. 2. Company Marketing Good Luck Humans markets itself as a mostly Do-it-Yourself type of clothing business, where the products that they sell are hand-crafted and hand-sewn by lower class individuals from the likes of Las Pinas and Paranaque. The company not only uses social media marketing, through Instagram and Facebook, but also has its own dedicated blog in its website which gives out gift guides, and mostly testimonials from employees and customers as well as using customer testimonials as proof that their products are unique and handcrafted. While the company has not considered using influencer marketing as a way to boost sales, customer testimonials have been recorded in its main website in order to generate validity that their products are high in quality.

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