Marketing Essentials Assignment | Zara
Added on 2021-01-02
13 Pages3588 Words20 Views
MARKETING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................11.1 Introduction...........................................................................................................................11.2 Marketing Process ................................................................................................................11.3 Role of Marketing.................................................................................................................61.4 Stakeholder engagement and its impact................................................................................7CONCLUSION ...............................................................................................................................8REFERENCES ...............................................................................................................................9
INTRODUCTIONTASK 1 1.1 IntroductionMarketing is the process of getting consumers who are interested in the products andservices of company. It is used to create, keep and satisfy the customers. It is defined byAmerican Marketing Association as an activity and process of creating, delivering andexchanging offers that have value for customers, clients and society at large (Armstrong andet.al., 2015).Assignment is based on Zara. It is a Spanish fast fashion retailer based in Artexio inGalicia. This company was founded in 1975 by Amancio Ortega. In this context, this study is based on marketing process and role of marketing in creatingvalues for customers. It will also explain stakeholder engagement and its impact.1.2 Marketing Process Analysis on Mission and ObjectivesMission: It is important to set mission of the company. The mission of Zara is uniquedesign, style and class in dresses in the entire world (Atighechian and et.al., 2016). Objectives: The main objectives of Zara are increasing customers’ demand andsatisfaction by producing high quality products at very reasonable prices.Situation Analysis PESTLE◦Political Factors: The financial regulations of country are impacting on the business.The disruption of market gets affected by the economy. Political disturbance can alsodisrupt the supply chain and rise the difficulties for brands. Zara has overcome thesedifficulties by limiting their supply chain operations.◦Economic Factors: Companies are taking decisions for economic growth throughknowledge about inflation rate. Higher inflation rates mean that public are not able toafford certain brands (Bahadir, Bharadwaj and Srivastava, 2015). Zara is familiarwith economic growth, interest rate, exchange and taxation, so that they are notselling it to lower classes. 1
◦Social Factors: Firms must work according to social trends and mind their socialresponsibility. For increasing demand of products, Zara is spending patternsaccording to customers and changing trends in the fashion market.◦Technological Factors: Recent technology has better efficiency level for thecompanies (Bull and et.al., 2016). Technological changes also bring in quality controland maintain standards throughout each product. Different social networking siteshelp company for connecting with the consumers that include through upgrading thesocial media forums. ◦Legal Factors: It is an integral part of any organization. The firm must createreporting of all legal responsibilities while maintaining operating costs and makingprofits. Zara is establishing a high image in consumers' mind by fulfilling all legalduties. ◦Environmental Factors: Customers are using products and well informed datawhich are socially accepted and belong to organization that care about environment.Therefore, firm needs to focus on products' creation from environment friendlymaterials (Dobbs, 2014). The management of company needs to have strict storepolicies for waste materials by products. SWOT◦Strengths: It is the strength of Zara that they are developing their own design insteadof copying from other retailers. They are selling on their own store rather thanvendors. Company sells discounted on those cloths which not sold after a month.Firm manufactures' product on low cost which sell it at reasonable prices (Bhasin,2018).◦Weaknesses: The company does not follow any kind of advertisement plan, so thatpeople are not getting aware of its products. Firm has adopted an online strategywhich is very weak and orders are also taken online. The competitors of Zara that isHennes and Mauritz are producing same product (Gengler and Mulvey, 2017).◦Opportunities: The company is into expansion for different cities which helps inpromoting its brand name. For increasing sales, they enhanced online services. Zaraenjoys popularity in the international market because of acquisition from differentcompanies.2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing Analysis Assignment Solved - Zaralg...
|13
|3588
|18
Global Business Environment Assignment (pdf)lg...
|5
|846
|253
Applied Corporate Strategylg...
|11
|3636
|83
(PDF) Applied Corporate Strategylg...
|14
|3920
|116
Marketing Essential: ZARA Marketing Planlg...
|18
|961
|57
Global Business Environment Assignment | Debenhamslg...
|6
|1043
|222