Marketing Essentials Report of Zara
Added on 2020-07-22
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MARKETING ESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Management of information..................................................................................................1P2 Different Organisational functional areas..............................................................................4P3 How marketing mix are applied on different organisation as compared to ZARA...............9P4 Marketing Plan for Zara:- ...................................................................................................11CONCLUSION AND RECOMMENDATION:-..........................................................................12REFERENCES..............................................................................................................................14
INTRODUCTIONIn this competitive world, marketing is the thing which is a back bone of any firm.Marketing help company to sell their product and service to large market and information aboutgoods and services are provided to million of people through marketing and although it is acomplex and contradict process as well. The first Zara store was opened in 1975 by AmancioOrtega at downtown A Coruna, Galica, Spain (Babin and Zikmund, 2015). Firstly, Ortegaopened the store naming 'Zorba' inspiring by the classic film ''Zorba the Greek'', but later hecome to know about the bar which was two blocks away having the same name, they rearrangedthe characters as ''ZARA''. Within very short span of time this small store has developed itselfinto a large firm. The company started its international expansion in 1988 with the help of Porto,Portugal. Later in 1989 and 1990 they entered United states and France respectively. Later inSeptember 2010, Online boutique was launched by ZARA. In 2015, in the list of the best globalbrands ZARA was ranked 30 among the best leading brands all over the world(Baker and Saren,2016).Zara is having more than 2100 stores world-wide and fifty-third position at worlds mostvaluable brands. The organisation is having 152,854 numbers of employees in 2015 and veryrapidly growing in clothing and fashion industry. The report will discuss about various functionof marketing and in different context as well. Apart from this it will also discuss about marketingmix and its plan which will help in making higher profit and attainment of goal and objective ineffective way. TASK 1P1 Marketing function Information management is the providing of relevant information to decision makers ofthe organisation or to others. The information includes both physical and electronic informations.Management of information Support these guiding principles which includes-Every possibleinformation should must be shared which helps in exploitation of corporate knowledge. Thekeeping and deposit of information is very crucial (Brady, 2014). The management ofinformation is done with the help of many systems which is generally a software designed for toassist manage information. Marketing basically works on its seven functions and all thesefunction information is managed by an organisation which help them to run companyaccordingly. 1
Marketing information management (MIS):- This is the management of the processesand methods which are used to collect or gather information about the organisation andthen analysing it according to the companies needs. The finding of reports which isrelating to ZARA marketing products and the services provided by them toward theircustomers(Campbell and Martin, 2015). The management of information helps ZARA todetermine their customers demand and attitude toward the company, preference ofproducts they are willing to be provided by the firm. MIM is very useful to test productsfeatures, determination of growth potential and size of market. This information helps theorganisation to its sale and profit. Distribution (Channel Management):-It is set combined group of activities and businessto business firm operations to introduce their product to market with the help of channelpartners as much efficiently and effectively they can(Forshier, 2012). ZARA ispromoting their products through both offline and online channels. The distributionincludes:- Sale forecasting:- It is estimation of the future sale which is company going to make,and provides insight to the company for its cash flow, resources and workforcemanagement. Channel marketing management:- These are the techniques used by the organisationto promote its products to wider range of customer base. Using these channels ZARAcan promote its clothing and other products, marketing channels are those which arenecessary for the transformation of ownership of goods to the point of consumptionfrom the point of production(Griffin and Ebert, 2010). The management of the Inventory is the oversight of stock items. Incentive program management are partially used for the motivation of employeesand in the sale to attract the customers. These also help the organisation for its Financial and risk management, to managedata integrity and recognition of revenues. Product or service management:- Product management is the techniques which help theorganisation to check and involves function such as obtaining raw materials, developingthem and then maintenance or improvement of those products and services. It is theprocess of changing and creating new information about offering company's catalogue2
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