SWOT Analysis Strengths The internal assessment of an organization begins by identifying the company’s strengths. A company has a competitive advantage over rivals when it is able to implement value-creating strategies using its own resources, capabilities, and core competencies. Ralph Lauren has successfully aligned their core competencies in order to meet demands from their customers and maintain a sustainable competitive advantage over competitors. Distinct Image and High Brand Recognition: Ralph Lauren is one of the most recognized brands in the world due to its premium product lines. With such recognition, Ralph Lauren has been able to expand its product offerings from not only men and women’s apparel, but also into jewelry, fragrances, and home furnishings.
Therefore, companies employ various strategies to advertise and sell their products or services. Companies try to promote and sell their products to customers that they have identified in a target market. They implement marketing strategies to help accomplish the goal of profitable sales. Hence, marketing strategies are vital to the success of the company and the marketing strategy that a successful company employs will seek to overcome shortcomings and increase the company’s revenue. Lane Bryant is one such retail store that has developed marketing strategies that has made them one the most profitable retail stores for women who are larger in size.
They want to be a best fashion shop in the world, and for this they need to be come with new ideas. * Meeting customer needs – Primark sells all products that customer wants in fashionable and they sells all age people cloths. * Identifying new needs - Primark also bring new ideas on sales and their offers in cloths. Also they are just focusing on customer and not just brand Strength – being popular and most people like to buy from there and its cheep, also selling good quality products. Qualitative and high fashion items for a low price.
‘Fast-fashion’ can be defined as a quick response to up-to-date luxury fashion trends in an affordable price, which meets the deeply held desires for young customers (Joy et.al, 2012). The store expansion has continued at several places, such as Denmark, the United States, Great Britain, also in several European Countries like Spain, Germany (Barman and Petersson, 2002). In order to sustain the growth rate of H&M, the CEO, in 2011, invested more stores and opened another 218 stores on the Champs-Élysées in Paris to strengthen their brand and ensure the future expansion. Following that, in the next few years, another 230 stores were established, involving 35 in China (Regnér and Yildiz, 2014). H&M has become the global leader in the ‘fast-fashion’ section, owing to its’ distinctive business approach which enhance the competitiveness.
Information for Marketing The Theoretical review of issues surrounding information used in Market Research Primark Market Research links Primark with the environment it is operating and involves specifying the problem, gathering the data and then analysing that data. Market research specifies the information required to address the issues and designs the methods for collecting the necessary data. Market research is essential for Primark as it is one of the largest clothes retailers in the United Kingdom and there is lots of competition in the same market. The growth sector of the market in recent years has undoubtedly been the discount clothing market, which still has considerable opportunities to take sales away from the 'standard' clothing market. Womenswear is the largest sector within the market in general, clothing for women and children is worth double the market for men and boyswear.
They are typically college-educated professionals seeking fashionable yet comfortable clothing for work. Harrington Collection has decades of experience with an excellent relationship with retail trade giving it a vast understanding of its customer base. They also conducted surveys of the current Vigor customers and they showed considerable interest in active-wear, even customers who are no longer working professionals but who are loyal to the brand were interested in the new active-wear line. This was particularly evident in the baby boomer population who want clothing that does not make them feel old. Harrington is known for its extensive national advertising, top design staff and exceptional quality and styling.
What factors are critical to success in the U.S. family clothing stores industry? The factors critical to success in the U.S. family clothing stores industry are the ability to successfully develop new product lines that reflect the latest fashion trends and then quickly bringing them to market, having a broad network of retail stores located in prime real estate locations, building brand loyalty, and having excellent financial and inventory management skills to control cash flow, reduce debt and keep costs low. Develop a competitive strength assessment of the four
Product benefits are affordable price and high quality and high-value product also increase in self-confidence. Lastly good quality product at low price is their uniqueness. 2. How would you draft a formal, written positioning statement for Mary Kay using information detailed in question 1? I focused about affordable, high quality, beauty and grooming product for men and women.
A good Fashion Buyer has fashion knowledge and instinct, is highly analytical, has strong business and negotiating skills, is good in retail math and inventory and can work under pressure. In this career experience and education are a must. A degree in Fashion Merchandising is great, although any degree counts as long as there is experience in the field. An entry-level experience that looks good to employers is having worked as a sales associate because it shows that you understand customer shopping habits and how the business works. Another good move might be to enter an executive training program, like Macy’s and Neiman Marcus have.
Lando should stick to La Martina DNA and raise sells to previous primary niche (society polo players) functional equipment for polo players and put emphasis on polo lifestyle. Having in mind his core target audience, a move towards fashion might not be taken very well. He relies on rich, successful, but also very refined and conservative people to carry his brand and it is likely that they will consider such a move towards wider audience a “sell out” from the side of La Martina. If choosing this strategy the La Martina Management staff shall give a huge emphasis on the PMG activities so the company can retain its position as “exclusive premier” polo brand. The PMG shall also expand its range of activities and bring polo to new markets.