Business Plan and SWOT Analysis Comparison

This assignment compares and contrasts the impact of business model design, lean startup approach, and traditional business plan on mobile startups performance. It also includes a comparison with SWOT analysis. The study aims to provide insights into the effectiveness of different approaches in achieving startup success.

MANAGING
MARKETS

TABLE OF CONTENTS
Topic- To create new branch of Zara and online store in Brisbane.................................................1
INTRODUCTION...........................................................................................................................1
Organisation profile.....................................................................................................................1
Product and service profile..........................................................................................................1
Objectives and scope of project...................................................................................................2
Business model............................................................................................................................2
Option analysis............................................................................................................................3
Market feasibility.........................................................................................................................4
Financial stability.........................................................................................................................8
Marketing model-........................................................................................................................9
Project Analysis and risk management.....................................................................................10
Findings.....................................................................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

Topic- To create new branch of Zara and online store in Brisbane.
INTRODUCTION
Business plan defined as roadmap that shows in detail that how a new business is going
to accomplish their desired objectives. It summarizes all financial and operational objectives that
contains detailed plan and budgets (Burns and Dewhurst, 2016). Additionally, this is document
that demonstrating the feasibility of prospective new business and also provide road map for
their several year of operations. Henceforth, it defines as plan of action for conducting business
operation that has goal of creating and growing sustainable profits.
The present report is based on business activities of ZARA, It is company that engaged in
providing fast fashion products as clothing, accessories etc. Thus, it is retail sector that has more
than 10000 stores at different locations in world.
Furthermore, report is based on to have expansion of business within new market and to
provide service as to open online store so that better facilities can be offered to customers.
Moreover, assignment will lay emphasise on activities as to frame out objectives on the basis of
given topic, to define about business model that aids to promote better functioning within
market. Thus, market feasibility aids to analyse the current situation of enterprise. Lastly,
financial feasibility will define to find out specific data.
Organisation profile
Zara is Spanish apparel retailer based firm in Galicia, the company founded in the year
1975 by Amancio Ortega and Rosalia Mera. It is owned by the Inditex group and this is world
largest fashion retailer. Therefore, this is enterprise that mainly specialise in fast fashion products
and services as clothing, accessories, shoes, beauty and swimwear etc. This is an enterprise that
has more than 10000 stores in different locations. Additionally, it mainly known for quality,
variance and trend fashionable cloths and this company designs new styles and outlets that
attracts customers (McKeever, 2016). Therefore, product life cycle of this brand adds greater
success in meeting consumer preferences. In 2017, this firm has manages up to 20 clothing
collection in a year. This is among the few brands that known to produce 100% toxic free cloths
and this is also famous for introducing the latest fashion trends in the market.
Product and service profile
Zara mainly provides men, women as well as children clothing. Thus, products and
services are supplied that based on consumer trends. Henceforth, it is highly responsive supply
1

chain that ships new products to stores twice in week. After completion of designing of product,
it may take 15 days to reach the commodities (Ward, 2016). Therefore, this is the enterprise that
has policy of zero advertisement so the company preferred to invest a percentage of revenue in
opening new store instead.
However, the enhancement of competitive pressure from the online shopping market,
ZARA has shifted their focus onto online as well that will consequently open fewer but larger
store in the future.
Objectives and scope of project
The present report is based on to expand new store of the ZARA in market of Brisbane.
However, this entity is also looking for to offer online services by displaying their commodities
at their official website. Thus, ZARA main aims to provide better and improved product and
services with continually looking over the customer fashion changes. Therefore, the main aim of
the enterprise is to offer the quality services that can leads up to have enhancement in business
productivity and profitability.
Business model
This is defined as plan that aids to carry out the successful operation of business, identify
the sources of revenue and intended the customer base, products and details for financing. It is
model that is defined as core strategy for making profit. Henceforth, this is defined as conceptual
structures that supports the viability of product or company that is inclusive of the purpose and
goals of the company. Thus, business model defined as framework that has way to unlock long
term value for an organisation at the time of delivering value to the customers and to capturing
the value with the help of monetization strategies (Brinckmann and Kim, 2015). Effective
business model aids to carry out the better and improved facilities so that all things can be done
in better mode.
The enterprises as Forever 21, TopShop, Primark, H&M are also the core pillars of fast
fashion but there is something about Zara business model that has captured from Zero to Top and
rest of the fast fashion firm have remained while they are dwindling. Thus, ZARA excellent
business strategy and very agile business model aids to develop and bring better efficiency to
firm. Henceforth, business model spot new fashion trends, works as to predict and forecast the
stock requirements that reduce discount wars on leftover stock.
2

Zara business model defined as factory set up that means their factories pushes out the
newest product to the stores with Zero customization option. Therefore, business model of
ZARA is very supply chain intensive business model.
Zara business model defined as supply chain intensive that design up to the final
production and ultimately distribution to the stores. Henceforth, the business model uses by firm
responds to immediate fashion changes, reduce or increase production as necessary new lines
and so forth.
Zara business model spends no cost on digital advertisement, it has Zero advertisement
policy. Therefore, they regularly do promoted posts of one of their design for small duration till
gathering viral mass and then its spreads on its own.
Option analysis
This term defined as statistical technique that based on idea that can get change over the
time that can affect the cost and benefit of the future IT investment. There are multiple of
technique that aids to identify the best technical solutions to meet out the needs of public (Hopp
and Greene, 2018). This is defined as practice of evaluating possible outcomes that can leads to
have desired outcome.
On the other hand, this is defined as most crucial aspect of project management that can
assist leaders to ensured about the possible routes before choosing the best thing for the project.
It is assistive for leaders to ensure the possible outcomes for the purpose of expanding the
business in new market. Thus, operation analysis defined in below context manner as are-
Step 1- Option identification-
 Define baseline scenario- The main aim of the report is to expand the functioning of the
business market of Brisbane. However, entity is also taking initiatives to promote online
services to customers. The best suitable location needs to identified to carry out the
expansion activities effectively. Thus, affordability of the market needs to be look over so
this expansion do not have impact on the profitability and productivity (Watson and
McGowan, 2019).
Step 2- Feasibility analysis
 Carry out demand analysis- Zara needs to look over current trends of market on continue
basis. On order to carry put effective service, it is crucial to forecast the changes in
3

patterns of demand. Thus, before taking expansion the demand of the particular market
must be analysed so that operational activities can be conducted in smooth mode.
 Check for available technology- Technical innovation leads to build sustainable position
in market. With the availability of better technological commodities the all over operation
within new market can be conducted in effective mode. With help of understanding the
technological requirements in market, the all activities can be carried out in better and
attractive mode.
 Review staff requirements- To carry out the operational requirement, this is crucial to
review the needs of staff so that all activities in market can be carried out effectively.
Thus, right staff needs to get hire who have better skills and sufficient knowledge.
 Determining broad scope- The each alternative is feasible within the boundaries that has
define broad scope (Harrington, 2016). Therefore, the main aim of report is have better
expansion of product and services within new market that can also lead up to gain
competitive advancement and build brand image.
Step 3- Option selection-
 Perform cost effective analysis- It is the crucial step that aids to chose an option that
either maximise the net present value of cost and also leads to up to maximise the output
level (Ghezzi and et.al., 2015). Therefore, this is needs to be done in order to identify the
predictable expenses.
 Perform multi criteria analysis- The another manner to select the best option is to try all
the operations so that better alternative can get selected. Therefore, number of market can
get selected as Sydney, gold-leaf etc. So, Zara can analyse the needs of all markets
carefully and can able to take initiatives to select the market that can help them to have
enhancement in profitability.
 Final decision- After undergo through all these activities, the entity can think about to
expanding business operations. This leads to take the better decision and also helps to
carry out the business expansion successfully.
Market feasibility
Market feasibility refers to the study which helps company to determine the conditions of
market whether they support the development of business in that particular market or not.
Scope
4

The scope of the company is to expand its business into Brisbane Market by opening a
new branch and provide better online services to their customers. This will help company to
achieve its objectives, improve its operations and provide better online as well as offline business
services to their customers.
Current Analysis
SWOT Analysis
SWOT analysis refers to the strategic analytical framework which is being used by the
company to analysis its internal environmental factors and assess its strengths, weaknesses,
opportunities and threats in the context of expansion and online market (Gürel and Tat, 2017).
Following is the SWOT analysis of Zara Company which is as follows -
Strengths Weaknesses
 Strong Brand Image
 Strong Distribution Network
 Low Marketing Investments
 Poor Demand Forecasting
Opportunities Threats
 Expansion into New Markets
 Focus on its Online Business
 High Competition
 Regulatory threats
Strengths of Zara
Strong Brand Image — Due to various reasons such as fast fashion cycles, high quality products,
strong product portfolio, attractive and unique products' designs, Company has strong brand
image. This brand image will help Zara to successfully expansion of its business into new market
such as Brisbane. This brand image will also help Zara to attract the target audience easily
towards its e-commerce business (Phadermrod, Crowder and Wills, 2019).
Strong Distribution Network — Zara has strong distribution network. Due to high investment in
information technologies, Company has created the model which lead it to maintain the
communication flow easy and smooth, which lead to easily exchange of information and data.
This lead to make the supply chain strong. This strength will help company to easily access to
the Brisbane market and online delivery of the products.
Weaknesses of Zara
5

Low Marketing Investments — As compared to another companies who are working under the
clothing retailing industry, the approaches and investments adopted by the Company in the
context of Marketing has been less aggressive. This will make Zara to not able to capture the
new customers into Australian market. Moreover, Zara has recently enter into online business
model and lack of marketing investment, Most of its loyal customers doesn't know about its e-
commerce strategy. This can weaken the expansion of business online as well as offline too.
Poor Demand Forecasting — Zara is not good at predicting the product demand in the Brisbane
market which lead to higher rate of missed opportunities. Moreover, it is one of the reason that
the days inventory of Zara is high as compare to its competitors (Vlados, 2019).
Opportunities of Zara
Expansion into New Markets — Due to strong brand image, huge investment in research &
development and information technology, strong supply chain management, high revenue
generation, Company has the opportunity to expand its business into new market and make its
online market stronger. Thus, it will help in increasing the market share, gaining the customers
and earning more profitable which lead to completion of organizational objectives and goals.
Focus on its Online Business — Company can create its opportunity to gain competitive
advantages over its competitors by focusing on its online business. For that company has to
improve its marketing strategies which will includes modern marketing as well as traditional
marketing strategies (Watson, McGowan and Cunningham, 2018). This will make Zara online
business model strong and company will easily be able to operate its online business
successfully.
Threats of Zara
High Competition — Zara has tough competition at the global market as well as in the Brisbane
market too. This can create a threat for the company as customers can be easily switch towards
its competitors' brand which was already established in the market. Gucci, Prada, Burberry and
Ralph Lauren etc. are the best example whose presence in the Australian market are strong.
Regulatory threats — There is one regulation in the Australia which states that foreign company
can't sell their products into the Australian Market up to limited units as per given in the
regulations. This can be a threat for the Zara as company is going to expand its business by
opening into a new brand into the Brisbane market (Swot Analysis of Zara, 2019).
PESTLE Analysis
6

Pestle analysis refers to the strategic analytical framework which is being used by the
company to analysis its external environmental factors and assess its opportunities and threats in
the context of expansion and online market growth (Abbott, 2015). Following is the Pestle
analysis of Zara Organization which is as follows -
Political Factor — There are various political factors which impacts the business. These factors
are such as Government intervene, taxation rate, trade policy, political stability and perception of
government towards business etc.
For example — Australian government thinks that foreign companies can encourage the
competition in the market and create problems for the survival of small retail companies. Thus,
government imposed a regulation on the foreign companies. This regulation also has to imposed
on the Zara who wants to expand its business in Brisbane market by opening a branch. This can
be threats for the Zara as it has to sell only limited units of their products.
Economic Factor — Growth rate, interest rate, inflation rate, foreign exchange rate, price of
products and raw materials in the markets etc. are the example of economic factors which can
impact the business as well as whole industry (Aithal, 2016).
For example — Zara has affordable pricing strategies for its products in store market as
well as in online market too. This can be creation of opportunities for the company to expand its
business into Brisbane market where level of disposable income of the people is good enough.
Thus, it will be beneficial for the Zara to expand its business to new market such as Brisbane and
focus on its online business too.
Socio-Cultural Factor — Some examples of socio-cultural factors are such as lifestyle,
population size, age distribution, buying behaviour, wealth distribution, cultural differences,
religion values and festivals etc. which can affect the business growth in the new market.
For example — Customers under the fashion industry has spending habits which lead to
creation of a lot of demand for the related products. This demand can be an opportunity for the
Zara to expand its business by opening a new branch in the Brisbane market and providing
demand-able products under its brand. It will lead Zara to grow more and capture the market
share in Australian Market.
Technological Factor — There are various technological factors which may affect the business.
These technological factors are as follows — technological changes, speed of technological
7

change, access to new technologies and information communication technologies adoption etc.
(Shtal and et.al., 2018).
For example — due to high investment in information technologies, Company is able to
develop a system through which it can maintain and share data & information easily, securely
and smoothly. This lead company to strengthen its supply chain management. By using this
system, Company can easily provide their online users required products. It will lead company to
gain opportunity for the growth of its online business model at the global market.
Legal Factor — Contract Legislation, Customer Right legislation, Health & Safety Legislation
and Data Protection Legislation etc. are the illustration of legal factors which may affect the
business and create either opportunity or threat in the market.
For example — For the security of data while collecting and storing, Company has to
follow the same rules and regulations which is given under the European Union’s General Data
Protection Act. This will help Company to easily secure its data and information which will help
them to gain trust of online customers as well as competitive advantage in the Brisbane market.
Environmental Factor — Climate, Weather, Environmental policies, natural disaster and
pollution level etc. are the environmental factors which can affect the business growth into new
market (Zara Case Study — PESTLE — SWOT Analysis, 2017).
For example — As Australian governments strive to create a greener environment, Zara
has pledged to make its stores eco-friendly and has done investment in production of sustainable
clothes prepared from organic material using sustainable energy and equipping its stores with
energy efficient. This will lead to grow more into Brisbane market.
Financial stability
Particulars Year 1 Year 2 Year 3
Cash inflows
Opening cash inflow 50000 64400 95200
Sales revenue 80000 88000 96800
Total cash inflows 130000 152400 192000
Cash outflows
Material 24000 17600 19360
Labour 9600 8800 9680
Other expenses 16000 13200 14520
8

Administration expenses 16000 17600 19360
Distribution expenses 16000 17600 19360
Total cash outflows 65600 57200 62920
Cash deficit / surplus or
closing cash balance 64400 95200 129080
It can be interpreted from above analysis that in year 1 and 2 the cash surplus will be
around 6440 and 95200. In year 3 it will increase to 129080 which means that Zara store
generate revenue from sales. So, it can be stated that financial stability of market expansion in
Australia will enable company to operate for long term.
Marketing model-
This is defined as a statistical analysis that determines the marketing time series data to
evaluate the impact of various marketing tactics. Therefore, marketing model as marketing mix
will be defined as it is inclusive of product, price, place, promotion and people etc. Thus, it is
defined in below context manner as are-
Product- Zara is one of leading luxury fashion labels in the world that offers commodities and
services for men, women and children. Therefore, this firm offers jeans, tops, Skirts, shoes, bags
and accessories etc. This is firm that provides quality services to customers and also produce
more than 10000 design within a year. Henceforth, the taste of the target market influence the
availability of products lines.
Price- The commodities of the Zara are high on fashion and low on prices. It is entity that
provides the latest fashion cloths at the low prices. Thus, this firm follows low pricing strategy.
This enterprise follows the market based pricing strategy that mainly target the customer
segment who is willingly pay to their products (Ferreras-Garcia, Hernández-Lara and Serradell-
López, 2019). Henceforth, this brand uses the various schemes as a way of promoting sales
promotion. Zara has low level of discounting around the year and also offer discount of 50% or
more twice in a year.
Place- Zara is the vertically integrated company and supply chain provides them a competitive
advancement. This is enterprise that uses the unique business model that aids to bring new
product and fashion or the market in the shortest possible time period. Henceforth, the
commercial team work as to coordinates within house designer to identify the new trends and
develop new products in market. Thus, Zara is looking over to expand business activities in the
9

market of Brisbane. So, store will be located in the posh locations so that can aids to gather the
large customer segment in market.
Promotion- This is the enterprise has Zero advertisement strategy and this enterprise is famous
for being press shy. It is the enterprise that do not get engage in any kind of fleshy campaign.
Therefore, Zara unique selling proposition is the short processing time for the large variety of
styles and affordable pricing. On the other hand, this is an enterprise that relay over word of
mouth promotion and social media rather than expensive market tool (Ferreras-Garcia,
Hernández-Lara and Serradell-López, 2019). This is the brand that spends more money on
launching their store in new market rather than making advertisement of the product and
services. In addition to this, Zara prefers spending their percentage of revenue in opening new
stores.
Project Analysis and risk management
This project is based upon on Zara company that is going to start its new business venture
that involves different steps in analysing its competitiveness in the market are as follows:
Identifying competitors:- Its competitors are Gucci, H&M, Louis Vuitton and Hugo Boss. They
all are trying to capture larger share in the market (Todorović and et. al., 2015). As competitors
will be identified by applying porter's five force model that help in identifying competitors in the
market. This will have an impact on business operation of Zara. Before starting new business in
the market proper analysis is being done by researcher that enhance more growth in the future.
Strength and Weakness of competitors:- It is important in analysing competitors internal
factors that affect business operation. As Gucci's community of dealer strong so in comparison
Zara have to improve its relation with dealers that help in gaining larger share in the
marketplace. Gucci's brand portfolio is high that help in enhancing its business operations.
Weakness of Gucci is that after the day end its inventory is remaining more that will affect daily
basis budget of the company. Another weakness is it need more investment in technology. In
addition to it, Zara have to adopt best technology for bringing new product in the market that
help in attracting more customers towards it.
Analysing strength and weakness of Zara:- Zara 's strength is that it is having highly skilled
workforce in the company that help in bringing creative ideas into business. Its network of
distribution is strong that help in gaining larger share in the market. This lead to bring more
opportunities for the future purpose. Another strength is that it helpful in tracking records that
10

will be useful for the company in providing different technologies in gaining various perspective
for the future (Aven, 2016). Its biggest weakness is that it will not be able to take challenges that
create problem for it in expanding its share for the future. Another weakness is that its product
quality is not good and lack in demand forecasting for the future purpose.
Role of company in the market:- Zara plays an important role in the market as it want to
enhance business operation for the future by taking larger market share. Their role is to fulfil
demand and needs of consumers by providing best quality product and services that help in
attracting more consumers towards it.
Detailed analysis of Zara:- It is a Spanish retailer of apparel that is based on Arteixo in Galicia
and also deal in accessories , shoes, beauty and perfumes etc. It is the world's largest retailer of
apparel having many stores in different countries that help in creating larger market share.
There are five steps that help in managing risk in Zara company are as under:
Identifying risk:- The first step is to identifying risk that will be occurred in Zara as it is related
to technical risk, market risk etc. These can be identified by applying different tools that is
providing clear understanding for having risk in Zara. If in an organization different perspective
will be involved that will be creating various aspect for the future.
Analysing risk:- After identifying risk it will be analysed as its scope will be identified in Zara
as related to technical risk that occur in business (Ho, Zheng, Yildiz and Talluri, 2015). There
are different perspective that help in determining risk in business so proper risk management is
being done in Zara for managing risk for the future.
Evaluating or ranking risk:- After analysing it is to be ranked based on the priority that is
given to particular risk in enhancing business operations for the future. Risk that is on highest
rank will be minimized by business for the purpose of sustaining in the market. there are various
aspect that help in providing risk management in business for the future course of action.
Treatment of risk:- Risk from Zara can be eliminating by connecting with different experts
that are dealing in risk management process of Zara company. This will be tackled effectively
and efficiently that help in managing system in business and increasing operations in the
business. A proper solution is provided by expert so that there may not any problem occurred in
the future.
Monitoring and reviewing risk:- This is last step in managing risk in business and bringing
effective tools that monitor risk based on future purpose. As not all risk can be eliminated but
11

some will remain and enhancing business for the future (Bromiley and et. al., 2015). Through
digital technology risk can be analysed by using different tools and techniques in business.
Therefore, managing risk is important for Zara that bring effectiveness in the future.
Findings
From the above study it will find that before starting new business market analysis is
being done properly that help in gaining competitive advantage in the future. Various business
model is applied in enhancing growth of business. For analysing market it is also taken into
consideration the factors that affect business operations of Zara. For come out from the market
feasibility that will gain various perspective in business. Financial aspect of Zara help in
determining market position of firm in the marketplace. It is also find out from the study that it is
important in managing risk for the future purpose (Wiengarten and et. al., 2016). There are
various aspects that bring changes in the future course of action. As analysing market is essential
in creating various perspective that lead to bring effectiveness in business for longer term.
CONCLUSION
From the above study it has been summarized that For the expansion of any business into
anywhere in the world, Company is required to prepare the business plan which is considered to
be an important document for the new project being adopted by the organization. It involves
various aspects such as organizational profile, products and services, objectives of the project,
scope of the project, business model, option analysis, market feasibility, financial feasibility,
marketing model, project analysis and risk management. These all business aspects will tell the
stakeholders about the business expansion into new markets, its related opportunities, threats,
resources, strategies and models in order to make business successful in that market where
company wants to do.
12

REFERENCES
Books and Journals
Abbott, R.J., 2015. Pestle Analysis for Students.
Aithal, P.S., 2016. Study on ABCD analysis technique for business models, business strategies,
operating concepts & business systems. International Journal in Management and Social
Science. 4(1).
Aven, T., 2016. Risk assessment and risk management: Review of recent advances on their
foundation. European Journal of Operational Research.253(1).pp.1-13.
Brinckmann, J. and Kim, S.M., 2015. Why we plan: The impact of nascent entrepreneurs'
cognitive characteristics and human capital on business planning. Strategic
Entrepreneurship Journal. 9(2). pp.153-166.
Bromiley, P. and et. al., 2015. Enterprise risk management: Review, critique, and research
directions. Long range planning.48(4).pp.265-276.
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
Ferreras-Garcia, R., Hernández-Lara, A.B. and Serradell-López, E., 2019. Entrepreneurial
competences in a higher education business plan course.
Ghezzi, A., and et.al., 2015, April. A Comparative Study on the Impact of Business Model
Design & Lean Startup Approach versus Traditional Business Plan on Mobile Startups
Performance. In ICEIS (3) (pp. 196-203).
Gürel, E. and Tat, M., 2017. SWOT analysis: A theoretical review. Journal of International
Social Research. 10(51).
Harrington, H.J., 2016. Business Plan. The Innovation Tools Handbook, Volume 1:
Organizational and Operational Tools, Methods, and Techniques that Every Innovator
Must Know, p.61.
Ho, W., Zheng, T., Yildiz, H. and Talluri, S., 2015. Supply chain risk management: a literature
review. International Journal of Production Research.53(16).pp.5031-5069.
Hopp, C. and Greene, F.J., 2018. In pursuit of time: Business plan sequencing, duration and
intraentrainment effects on new venture viability. Journal of Management
Studies. 55(2). pp.320-351.
McKeever, M., 2016. How to write a business plan. Nolo.
Phadermrod, B., Crowder, R.M. and Wills, G.B., 2019. Importance-performance analysis based
SWOT analysis. International Journal of Information Management. 44. pp.194-203.
Shtal, T.V., and et.al., 2018. Methods Of Analysis Of The External Environment Of Business
Activities. revista Espacios. 39(12).
Todorović, M.L. and et. al., 2015. Project success analysis framework: A knowledge-based
approach in project management. International Journal of Project Management.33(4).
pp.772-783.
Vlados, C., 2019. On a correlative and evolutionary SWOT analysis. Journal of Strategy and
Management.
13

Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth,
profitability, and family leadership. Springer.
Watson, K. and McGowan, P., 2019. Emergent perspectives toward the business plan among
nascent entrepreneur start-up competition participants. Journal of Small Business and
Enterprise Development. 26(3). pp.421-440.
Watson, K., McGowan, P. and Cunningham, J.A., 2018. An exploration of the Business Plan
Competition as a methodology for effective nascent entrepreneurial
learning. International Journal of Entrepreneurial Behavior & Research. 24(1). pp.121-
146.
Wiengarten, F. and et. al., 2016. Risk, risk management practices, and the success of supply
chain integration. International Journal of Production Economics. 171. pp.361-370.
Online
Swot Analysis of Zara. 2019. [Online]. Available through : <https://www.marketing91.com/swot-
analysis-zara/>.
Zara Case Study — PESTLE — SWOT Analysis. 2017. [Online]. Available through :
<https://www.slideshare.net/hdiprateek/zara-case-study-pestle-swot-analysis-70891754>
14