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BUSI 520 - MMIP Part 2
International Business (Liberty
University)
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Multi-Marketing Individual Project
John Harrington
School of Business
BUSI 520 – Strategic Marketing Management
Dr. Mary Alford
May 23, 2020
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Assignment: MMIP – Part 2
Internal and External Marketing Variables.
Q1. Provide a description of the product/service and a brief history of the firm.
L.L. Bean produces high quality outdoor apparel and footwear. The company began in 1912 with
a single product, The Maine Hunting Shoe. This was a waterproof boot made by the founder
Leon Leonwood Bean. The boot consisted of a rubber sole which attached to a leather ankle
support. Leon made and sold 100 pairs of his Maine Hunting Shoe. He sold the boot for $3.50
and offered a money-back guarantee to attract hunters. Unfortunately, the product proved to have
many defects, leaving almost all of the 100 customers very dissatisfied and looking for their
money back. Leon improved the boot and sent the new and improved product to all the
dissatisfied customers free of charge. This led to what is referred to as LL’s golden rule, “sell
good merchandise at a reasonable profit, treat your customers like human beings, and they will
always come back for more.” This model of providing exceptional service in order to build
customer loyalty is still practiced today. Leon expanded the original product line into a growing
roster of gear. Today more than 16,000 products are offered which are sold through retail stores
and catalogs. The apparel items are tied primarily to an outdoor, active lifestyle. They offer a
range of apparel for activities such as hiking, camping, fishing, hunting, cycling, water sports,
hiking as well as leisure activities. They continue to offer some of their original products from
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the original roster, like the Maine Hunting Shoe, which is now called the LL Bean Boot, in
addition to other well-known items and longtime favorites such as the Field Coat and Chamois
shirt. LL Bean is a leading US company which is due in part to the company’s commitment to
maintain exceptional customer service which is a fundamental part of its identity. An example of
this is based on the tradition of the operating hours of the company. In 1951 Leon himself opened
the doors of his Freeport store to his customers 24 hours a day, 365 days a year. Today only the
flagship store in Freeport practices these hours of operation this does. This demonstrates that
while the organization does recognize the need to modernize and change given the time, it does
remain committed to its identity and traditions that ultimately define the brand. In addition to
being a leading U.S. catalog company they also have a well-earned impeccable reputation
regarding product quality and outstanding customer service.
Q2. Explain the organization’s mission. Provide its mission statement or create one if necessary.
(Ch. 2)
An organizations mission statement provides a shared sense of direction and purpose.
The organization’s mission statement is to create a quality outdoor product and provide superior
customer service.
These two elements have been the cornerstone of the organization since 1912. Their core values
of the organization drive the mission statement.
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LL’s Golden Rule continues to be one of the core values, “sell good merchandise at a reasonable
profit, treat your customers like human beings and they will always come back for more. “– Leon
Leonwood Bean. When I think of LL’s Golden Rule, this scripture come to mind:
“Rendering service with a good will as to the Lord and not to man, knowing that whatever good
anyone does, this he will receive back from the Lord, whether he is a slave or free.” Ephesians
6:7 (ESV).
As a testament to the quality of their products and their commitment to their customers all their
products come with a 100% satisfaction. Regarding the exceptional customer service, the
organization considers it to be part of the day to day operations. They have imbedded within their
core values their own philosophy and definition of what a customer is. There are six statements
that LL Bean uses to define a customer and while there is a common theme among them all this
one for me illustrates the customer service component of the mission statement. “A customer is
the most important person ever in this company – in person or by mail”
The LL Bean mission statement focuses on a limited number of goals, it stresses the company’s
policies and values, it provides a long-term view, defines the competitive markets in which the
company operates. Finally, it is short, memorable and meaningful. These are the five major
characteristics necessary to be considered a good mission
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Q3. Conduct a brief SWOT (strengths, weaknesses, opportunities, threats) analysis for the
organization. (Ch. 2)
LL Bean Strengths
It is a well-established brand, since 1912
It has a good product range
Exceptional customer service
The company is family owned
The company has a global presence
It is a trusted brand well known for quality and durability
LL Bean Weaknesses
The outdoor brand could be difficult to expand into new
markets Strong brand existence could be difficult to maintain
LL Bean has a limited number of retail stores and do fall behind in their global expansion as
compared to their competitors
LL Bean Opportunities
Identify marketing strategies that cater to millennials
Expand its products into a combination of performance wear and casual wear
Expand its social media presence
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LL Bean Threats
Many competitors in the industry
Market expansion to millennials is uncertain
Materials are easily accessed by competitors due to globalization
Q4. Describe and discuss demographic and economic trends that affect the sale of the
product/service. Describe and discuss technological changes and changes in consumer tastes and
preferences that have affected the sale of the product/service. (Ch.3)
LL Bean is famous for product quality and customer service. When you think of LL Bean those
are the first two characteristics that come to mind. However, it is also considered by many
millennials as the place where parents shop. While their concentration is on quality outdoor
products, they still find themselves faced with a limited target market. Their current target is the
outdoor enthusiast between the ages of 35-55. While they do offer a children’s line, they are
missing out on the young adult segment. Millennials are known for their buying power and
could increase the customer base. In order to reach the millennials a social media presence would
have to be established, and by incorporating newer technologies LL Bean could create a more
updated image. LL Bean currently sells products online and has extended its footprint into the
global market. However, when compared to their competitor they fall behind with about 40
retail stores in the north east region of the US and 23 in Japan.
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Sources
L.L.Bean: America's Maine Outdoor Clothing Manufacturer. (n.d.). Retrieved May 23, 2020,
from https://www.heddels.com/2019/02/l-l-bean-americas-main-outdoor-clothing-
manufacturer/
Company History. (n.d.). Retrieved May 23, 2020, from
https://www.llbean.com/llb/shop/516918?page=company-history
Team, M. (2020, April 26). L.L. Bean SWOT Analysis: Top L.L. Bean Competitors, STP &
USP: Detailed SWOT Analysis of Brands. Retrieved May 23, 2020, from
https://www.mbaskool.com/brandguide/lifestyle-and-retail/3827-ll-bean.html
