Marketing Strategy Assignment: Analyzing Core Values & Goals

M ODULE 2 – ASSIGNMENT #2 – MARKETING STRATEGY Type of Assignment : You need to work with your project group for this assignment. You still need to submit your file Individually. Submission : SLATE Assignments O BJECTIVES ● Analyze how an organization assesses where it is now and where it needs to be ● Describe how core values, mission and goals are important to an organization I NSTRUCTIONS 1. Complete the chart below about the company you have selected (in your group contract) for your marketing plan project. 2. If you have not selected a company (in your group contract) for your marketing plan project yet, this is your chance to discuss your company and topic with your group. You need to select your company today. 3. Include the source of your information . For example, if you discovered Loblaw Companies Limited’s Mission Statement on their website you would cite the source as: Loblaw Companies Limited. (2018). Mission and values. Retrieved from http://www.loblaw.ca/English/About-Us/mission-and-values/default.aspx 1. List their Core Values and/or Mission Statement. (include the source of your information) Assignment 2: Marketing Strategy Marketing Fundamentals Page 1 of 5

- The core values of Fossil are Authenticity, Grit, Curiosity, Humor and Impact - The mission statement of Fossil is “The Fossil Group of Companies is dedicated to our clients successes by providing innovative solutions, designing and safely, constructing the highest quality facilities on schedule and with integrity, leadership, and skill. Our clients' successes are our successes.” - Fossil Group. (2023). EMEA Careers . Retrieved from https://www.fossilgroup.com/emea-careers/#:~:text=We%20are%20Fossil%20Group%20because,the%20peopl e%20who%20keep%20them - Comparably. (n.d.). Fossil Group. Retrieved from https://www.comparably.com/companies/fossil-group/mission 2. What are their goals or objectives? (include the source of your information) − Identify at least 2 Objectives (each objective should be Specific, Measurable, Realistic, Actionable and Timely) Assignment 2: Marketing Strategy Marketing Fundamentals Page 2 of 5

- “Designing for the future”,” Fossil desires to use less resource intensive materials” (Fossil Group, nd) and create products with reduced environmental impact through the life cycle of the product. - “Make Time for Good”, “Fossil strives to increase collaboration with critical stakeholders” (Fossil Group, 2021) and create environmental, social and governance goals. Fossil Group. (nd). Good for the Planet . Retrieved from https://www.fossilgroup.com/sustainability/good-for-the-planet/ Fossil Group. (2021). Fossil Group Release 2021 Corporate Sustainability Report . Retrieved from https://www.fossilgroup.com/fossil-group-releases-2021-corporate-sustainability-report/ 3. What is happening with the Market/Industry? − Determine the appropriate placement(s) in BCG Matrix for some of the products they sell − Explain your reasoning Assignment 2: Marketing Strategy Marketing Fundamentals Page 3 of 5

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Cash cows: Their leather watches are cash cows, as they cost less to make, and have a great presence and relative market share in the market. Fossil´s Best selling item, cheap to make. Known to sell watches. Dogs: Their wallets are dogs, as they are the least profitable for the company, and have a low market share. Stars: Smartwatches are a star because they have a huge market presence, but they are rather costly to make. Question Marks: Their jewelry as it is costly to make but has a low market share. Sabanoglu, T. (2023, April 5th). Fossil Group's net sales share worldwide in 2022, by product category. Statista. Retrieved from https://www.statista.com/statistics/912872/fossil-group-sales-share-worldwide-by-product-category/ 4. Pick a product they sell and identify and describe the target market Fossil sells the Townsman Automatic Dark Brown Leather Watch, which is targeted towards men and women from 20s to 40s from upper class and upper middle class (Fossil website pictures). This is also due to their watches' price, which tend to be on the higher end of cost. Fossil Group. (n.d). The Official Site for Fossil Watches, Handbags, Jewellery . Retrieved from https://www.fossil.com/en-ca/ 5 . Based on the research you conducted, what would be 2-3 strengths of the company? What may be a weakness? Assignment 2: Marketing Strategy Marketing Fundamentals Page 4 of 5

1. Fossil constantly modifies its products according to fashion. 2. It has a wide customer reach and an established international presence 3. Itl has internationally recognized licensed and proprietary brands, and has a strong employee base of 10,000+ Weakness 1. Lack of customer loyalty 2. Limited product lineup Fossil Group. (n.d). The Official Site for Fossil Watches, Handbags, Jewellery . Retrieved from https://www.fossil.com/en-ca/ Assignment 2: Marketing Strategy Marketing Fundamentals Page 5 of 5

Module 2 In-Class Assignment - Marketing Strategy

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