Porters Generic Strategy and the 4 P’s

Competitive advantage grows out of a value a firm is able to create for its buyers that exceeds the firm’s costing of creating. Value is what buyers are willing to pay and superior value stems from offering lower prices than competitors for equivalent benefits or providing unique benefits that are more than offset a higher price. (Porter 1985)

Based on Porters Generic Strategy Cold Laundry is through the Differentiation strategy to their competitors as they state “Representation is at the core of what we do and that’s evident with our visuals and how we put people of colour at the forefront.” (High Snobiety 2021). Cold Laundry ‘provide street wear and minimalist fans contemporary quality clothing without sacrificing ethics. The brand is built on consciousness and kindness towards the planet’ (Guap 2020). As a black owned, sustainable and ethical company who provide contemporary street wear are able to stand out against competitors, especially as the rising of conscious consumers. By providing their consumers with these values Cold Laundry are able to justify their premium prices of between £70 to £275.

The 4 P’s Model

The below table uses the 4 P’s developed by Edmind Jerome (McCarthy, 1960). The 4 P’s are used by brands to identify key factors within their business and to analyse how the brand is percieved by consumers. Below is an analysia and comparison of Pangaia, Sisters and Seekers and OlderBrother, all similar brands to Cold Laundry.

Cost Leadership

Cost Leadership: ‘Cost Leadership is about minimizing the cost to the organization of delivering products and services. The cost or price paid by the customer is a separate issue’(Mindtools 2021)

Differentiation

Differentiation: Differentiation involves making your products or services different from and more attractive than those of your competitors. (Mindtools 2021) Cost Focus

‘Focus strategies concentrate on particular niche markets and by understanding dynamics of that market and the unique needs of customers within in, develop low-cost or well specified products for the market’ (Mindtools 2021)

Brand Product Place Price Promotion

Pangaia, a sustainable brand focusing on lounge-wear is a textile science company with their own ‘mission to save our environment’. They describe themselves as a global collective of scientists, technologists and designers creating essential products from bio-engineered materials (Pangaia 2021).

Older Brother describe themselves as a ‘playful, eco-sustainable, naturally dyed, gender-neutral contemporary’ brand (Older Brother 2021). Based in Portland USA they advocate for the ‘slow fashion revolution’ (Older Brother 2021).

Founded by sisters, Alice and Maisie Jones in 2017 from their own shed from a small village in North-Wales. Sisters and Seekers provide slower collective releases that share a story and vision for the brand (Sisters and Seekers 2021). They aim to set trends ahead of other retailers. Sisters and Seekers partner with many influencers and sell on their e-commerce and ASOS. • Loungewear • Outerwear • Denim • Accessories • Water bottles • Womens, mens and kids

• Knits • Tops • Bottoms • Outerwear

• Jumpers and knits • Tops • Bottoms • Dresses • Swimwear • Accessories • Nightwear • Outerwear • E-commerce • Selfridges • End Clothing £32 to £273 Social media marketing includes Facebook, Twitter, Instagram, TikTok, YouTube and Pinterest.

• E-commerce £89 to £407 Social media marketing includes Facebook, Instagram, Pinterest and Twitter.

• ASOS • E-commerce £15.99 to £100 Social media marketing includes Facebook, instagram, Twitter, TikTok and Pinterest. Currently offering a pop-up in the ‘Chester Pop up’ for the whole of October .

Key Findings

Within the sustainable fashion sector, prices above highstreet brands prices, ranging from £15.99 to £407.

(Figure 11 Pangaia 2021)

(Figure 12 Older Brother 2021) Pangaia has become a very popular sustainable brand, now being sold in Selfridges as part of their efforts to sell more sustainable brands with many influencers being seen wearing Pangaia tracksuits.

Sister and Seekers are an example of a brand advocating for slower fashion that tells a story. They feature a capsule collection, ‘Built to last’, that has higher quality staple products that aim to be in their consumers wardrobe for a lifetime.

Older Brother are building a sustainable, gender neutral brand at a premium price point.