1. SWOT Analysis-Strengths, Weaknesses, Opportunities and Threats. What are the firm’s internal strengths and weaknesses and the external environment’s opportunities and threats?
2. Current Marketing Strategy- What is the firm’s current product, price, place and promotion strategies? the
Requirements: half of page each
The current marketing strategy for Farfetch Limited is developing unique product designs that stand out in the competitors’ market. Its pricing strategy is based on credit terms, payment periods, and discounts, which has enabled many people to purchase goods from the company. Also, their prices are lower than their competitors, which increases their customers and profits (Jaworski, 2018). The company has many stalls almost in every state, making it accessible to customers worldwide. That has increased their market share as customers can access products at any time at a low price. Additionally, the company has been using television, radio, and print advertising methods to promote its products, including tradeshows and direct mail campaigns.