Rental at Asos

This report is a marketing development plan proposed to Asos, a leading online fashion brand that functions globally. This fast-fashion brand is proposed a rental service that targets Gen Z in the UK market. The marketing plan aims to assist asos to reach its 2030 sustainability goals that came to the surface due to the environmental crisis.

This report thoroughly investigates a range of factors such as ASOS's current performance, market demand and consumer forecast, to develop a strategy that meets the aim. The report examines Asos’s current strategies, by analysing the marketing mix and SWOT analyses which identify the market opportunities and challenges ahead of Asos. Additionally, the detailed insights on market segment, market demand, the current intensity of competition and external factors that affect the brand, a calculated strategy is proposed. It analysis both internal and external analysis with the help of primary and secondary research. Netnography and Consumer interviews were conducted in order to understand the consumer segment and conceptualise the demand for affordable occasionwear.

Moreover, The proposed strategy is a rental service that allows users to rent specific pieces for a certain period and set a price which gives them access to a selected garment. This rental model is a sustainable alternative to purchasing new clothing as it helps to reduce waste and embrace the sharing economy. This strategy will be implemented on Asos’s occasionwear range expected to be launched in December 2022, as it appeals to young consumers. The campaign's goal is to build awareness and increase engagement towards this new rental service which is why it aims to educate the consumers on environmentally friendly practices and encourage conscious consumption through integrated omnichannel marketing activities.

Ultimately, the strategy is specified in the report by identifying future competitors, positioning and target consumers. It outlines the marketing strategies to adopt in order to increase brand awareness and build customer relationships. The suggested strategies are visualised in this report through the development of the artefact. Lastly, In order to achieve the set objectives, a detailed estimate of marketing expenses and sales forecast is presented. A risk assessment is also conducted to determine the effectiveness of the proposed rationale by analysing the brand's appetite for risk and potential risk.

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