International Marketing: Bon-Mar Textiles Inc. Company Analysis
Bon-Mar Textiles Inc. is a Canadian company that has focused its business style on making casual clothes for all sexes. The company has grown overtime to become one of the leading Canadian casual wear designer companies taking advantage of it being the only company in the country licensed to distribute genuine Mystique foil spandex. The company’s working schedule and process involves manufacturing, retailing of the commodities, and wholesaling of yard or piece goods of natural as well as manmade fibers. This has led to the build up and development of the company’s brand in the Canada at a very fast speed. It is notable that the company has become a huge competitive opponent in the apparel industry in Canada. Being a private company in the apparel industry in Canada, Bon-Mar Textiles Inc. has managed to succeed as a result of its quality products. For more than 40 years, Bon-Mar Textiles Inc. has become a one-stop shop for all customers’ garment designing needs as a result of its exceptional customer service and excellent pricing (Bon-Mar Textiles Inc., 2015).
The company has a developed a successful and strategy way of getting its customers. It believes that it has to get close to the customers rather than wait for them come to the company. As a result, the company organizes personalized fabric shows in which the customers are given an opportunity to see the company’s new products in a relaxed atmosphere, at their own convenience, and with the help of the personal product representative. The fabric shows enable the customers see the introduced brands as well as the ever expanding product lines. The shows also provide updated information on market trends, future innovations, and fashion directions giving the customers as assurance of what they expect. The shows also offer a great moment in which the company representatives listen and attend to customers’ requests, ideas, and concerns (Bon-Mar Textiles Inc., 2015).
The management of the Bon-Mar Textiles Inc. Company laid down a strategy that would see the company grow to become the largest apparel retailer in the entire Canada. Their strategy was aimed at making sure that at the end of each fiscal year, the company would record substantial increase from the sales made in the country. A review of the success of this company thus far shows that the management is in the right track in meeting these established goals. The management is very keen on identifying opportunities and using them to maximize on the profits that are witnessed at the end of each fiscal year in by this company. This is ensured through offering of wide spread of quality textile products to the customers. Further, the vast selection of trims makes decoration of the sold costumes very easy and appealing. Considering the effective manufacturing processes in the company, it is notable that the company has become a leading innovator in protective head gear and safety uniforms. Since the company if among the largest distributors of 3M Scothclite, it offers competitive pricing. Additionally, the company is always searching for ways to improve the workplace so that the workers are safe when working. This has made the company the first to come up with Bump caps in the market. It is also notable that the company sells what it advertises and ensures that the products are of the described quality. The 100% cotton t-shirts, shorts, and hoodies for instance feature on the company’s original 3M Scotchlite reflective designs, which are exciting and fulfilling to the customers (Bon-Mar Textiles Inc., 2015).
Reviewing the industry in which the Bon-Mar Textiles Inc. Company operates, it is notable that it is in a highly competitive market. There are several international and local companies in the apparel and textile industry in the country. This has led to increased competition. This competition has seen the company come up with strategies for keeping their market share as high as possible. These strategies include the increased online presence of the company’s commodities for customers, reduction of the cost for production and continued production in order to meet the demands of the consumers and avoid inconveniences due top delays. The Company has also opened more stores all over the country in order to increase its reach to the customers. There are plans to further expand in to the global market extensively. The company has got plans to have new outlets in countries such as Japan, China, North America and Europe (Bon-Mar Textiles Inc., 2015). This way, the company will have dealt with the issue of competition and surpassed its competitor’s.
For the years that the company has been in operation ever since its establishment, the management has devoted itself to providing the customers with high quality products at a lower price. These products are manufactured as per the demands of the customer and thus, it is very rare for a commodity to miss out in the market when there is demand for it. The customers love this company because it does not price its commodities expensively compared to the other competitors in the market. This is one of the competitive edges that the company has got. By making sure that its products are popular among people at all ages, the company is able to experience increased profits and have better returns in revenue at the end of each fiscal year. Appealing to all ages is just but one of the competitive edges that the company has got (Bon-Mar Textiles Inc., 2015).
Even though the company has decided to go global in order to beat competition and increase its sales and profits, this does not come easy. This is because there are certain cultural challenges that pose a threat to the company when going global. One of the major cultural challenges is that of cultural diversity. Bon-Mar Textiles Inc. is used to hiring employees from the country since it operates locally and thus believes that such employees will be able to relate well with its customers. However, going global requires hiring employees from the host countries since such employees are more informed in customer needs and interests. Cultural diversity will also include use of different languages on the print outs on fabrics. The company should ensure that the language on the products is understood by the target customers Foreign (Affairs, Trade and Development Canada, 2013).
Nevertheless, the company is advantageous in as a result of its effective management and it is therefore able beat cultural challenges. The management understands that it can succeed in the global world if it creates an atmosphere of mutual respect and cultural equality. It understands the need for democracy of cultures. This way, it is easy to know the language that is considered abusive by different cultures (Shrivastava, 2012). The management also understands the interpretation of different nonverbal languages in different cultures as well as cultural differences that should be respected.
By keeping up with the industry trends and opportunities in the market, the Bon-Mar Textiles Inc. Company has been able to continue enjoying the bigger percentage of the market share in Canada. The low prices keep attracting the consumers to this company and this is a major competitive edge for the company over its competitors as it enables it to position itself in the market as the leading company in apparels.
Bon-Mar Textiles Inc. (2015). Bon-Mar Textiles Inc. Retrieved from http://www.bon-mar.com/.
Foreign Affairs, Trade and Development Canada. (2013). Canadian Culture in a Global World. Retrieved from http://www.international.gc.ca/trade-agreements-accords-commerciaux/topics-domaines/ip-pi/canculture.aspx?lang=en.
Shrivastava, A. (2012). The cultural challenges of globalisation. Retrieved from http://infochangeindia.org/agenda/intercultural-dialogue/the-cultural-challenges-of-globalisation.html.