Patagonia is a retailer for activewear, and their products range from gear to sleeping bags and tents. Essentially, they provide all the necessary clothing and gear for activities related to nature. Patagonia is usually more highly-priced than other sports-related brands due to the fact that the materials and production of their products are of premium quality. Additionally, they are environmentally conscious and make sure their products are sustainable and durable. Currently, they are within the clothing and sportswear market. Though they do not sell all types of gear and equipment for outdoor sports, they do provide some essentials such as sleeping bags, blankets, and other usually textile-related products.
Though they currently involve customers both interested in outdoor activities and eco-conscious clients, their pricing is not affordable for many. As such, they may be able to diversify their approach by creating lines of products within a more low-priced range. In order to penetrate the environmentally friendly and sustainable market, Patagonia can employ advertising and product creation that prioritizes the high quality of their products. For product development, it would be possible for Patagonia to implement more modern technology in clothing production while maintaining limited harmful by-products of the process. Patagonia is a leader of quality within the market of clothing and can add to the market development by collaborating with like-minded creators and firms.
The most effective strategy is likely to be market development with the involvement of eco-friendly creators and firms. This is largely due to the fact that Patagnoa is respected by consumers and other producers alike due to their non-traditional approach and prioritizing of the environment and the customers (Deshmukh, 2021). As such, this creates an opportunity for Patagonia to effectively engage with the community that has constructed within their market in order to both develop their own products and the market as a whole.
Work Cited
Deshmukh, Rohan. “Patagonia’s purpose-driven Marketing Strategy.” The Strategy Story, Web.