UK Fashion Industry: Customer Centric Marketing Strategies

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This report evaluates customer-centric marketing strategies employed by firms to achieve a competitive edge, focusing on the UK fashion industry. It explores factors influencing customer purchasing behavior, the role of marketing strategies in ensuring sustainability, and how fashion industries implement customer-centric approaches. The research uses secondary data to analyze customer feedback related to price and quality, emphasizing the importance of social media and relationship marketing. Key areas covered include factors contributing to customer satisfaction, theories related to customer satisfaction (Assimilation, Contrast, Assimilation-contrast, Cognitive dissonance), factors affecting competitive advantage, effective marketing strategies, and relevant marketing theories like the Marketing Mix, Five Forces Analysis, and Stakeholder Mapping. The research methodology employs a positivism philosophy, descriptive approach, and descriptive design, culminating in recommendations for improving marketing strategies and future research directions.
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Name of Student
Name of University
Author Note
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Acknowledgement
Thank you to all of those who have helped listened and encouraged me throughout this study.
I am indebted to my supervisor ……………………. whose guidance, advice and patience
have been immeasurable. My sincere thanks to all members of the…………… [Mention your
university/college name], both staff and students, whose continuous support have made this
thesis possible.
I would like to thank all of the participants in the study: students, teachers and Local
Education Authorities, for the time and help given throughout. Without their participation,
this research would not have been possible. In this context, I am also thankful to them, whose
research work helped me to execute this paper well.
Finally, I thank my family, without whom this thesis would not have been started or
completed! Your encouragement and support have never faltered; thank you.
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Abstract
The focus of the report is on the customer centric marketing strategy that is adopted for
attaining competitive advantage in business. The focus is on the fashion industry and the
manner in which it can develop its competence in the UK market. The aim is to ensure that
the companies belonging in the industry evaluate the factors that help in attaining a customer
centric marketing strategy. In this regard, objectives are formulated keeping in mind the aim
and the intention approach of the study. Secondary research is conducted in order to identify
the factors behind the application of customer centric marketing strategy and the application
of marketing element. Literature reviews about the concept of the topic along with the factors
that contribute in influencing the purchasing power of the customers are described. The
research methodology identifies the research techniques that are used for conducting the
research. The application of positivism philosophy, descriptive approach and descriptive
design is used for conducting the research in a proper manner. It has been from the data
analysis that customers tend to provide feedback about a particular product and based on the
feedback the purchasing power is generated. The feedback is generally related to the price
and quality of the products and services, and it is essential that the UK fashion market
industry maintain the two important factors. At the same time the combination of social
media marketing and relationship marketing strategy can help in making communication with
the customers
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Table of Contents
CHAPTER 1: INTRODUCTION..............................................................................................6
1.1 Overview of the research..................................................................................................6
1.2 Problem Statement............................................................................................................6
1.3 Research aim....................................................................................................................7
1.4 Research objectives..........................................................................................................7
1.5 Research questions...........................................................................................................7
1.6 Research rationale............................................................................................................8
1.7 Summary...........................................................................................................................9
CHAPTER 2: LITERATURE REVIEW.................................................................................10
2.1 Introduction....................................................................................................................10
2.2 Factors contributing to customer satisfaction.................................................................10
2.3 Theories related to customer satisfaction.......................................................................12
2.3.1 Assimilation theory..................................................................................................13
2.3.2 Contrast theory.........................................................................................................14
2.3.3 Assimilation-contrast theory....................................................................................14
2.3.4 Cognitive dissonance theory....................................................................................15
2.4 Factors affecting competitive advantage and sustainability...........................................16
2.5 Effective marketing strategies........................................................................................18
2.6 Theories related to marketing.........................................................................................20
2.6.1 Marketing mix..........................................................................................................21
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2.6.2 Five force analysis...................................................................................................22
2.6.3 Stakeholder mapping...............................................................................................23
2.7 Summary.........................................................................................................................24
Chapter 3: Research Methodology...........................................................................................25
3.1 Introduction....................................................................................................................25
3.2 Research philosophy.......................................................................................................25
3.2.1 Justification of the selected research philosophy........................................................25
3.3 Research design..............................................................................................................26
3.3.1 Justification of the selected research design................................................................26
3.4 Research approach..........................................................................................................26
3.4.1 Justification of the selected research approach...........................................................27
3.5 Data collection method...................................................................................................27
3.5.1 Justification of the selected data collection method....................................................28
3.6 Data collection technique...............................................................................................28
3.6.1 Justification of the selected data collection technique.............................................28
3.7 Ethical considerations.....................................................................................................29
3.8 Accessibility issues.........................................................................................................29
3.9 Summary.........................................................................................................................29
CHAPTER 4: DATA ANALYSIS...........................................................................................31
4.1 Introduction....................................................................................................................31
4.2 Thematic analysis...........................................................................................................31
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4.3 Discussion.......................................................................................................................36
4.4 Summary.........................................................................................................................40
CHAPTER 5: CONCLUSION AND RECOMMENDATION................................................41
5.1 Conclusion......................................................................................................................41
5.2 Linking with objectives.............................................................................................42
5.3 Recommendation............................................................................................................44
5.4 Future scope of the study................................................................................................45
Bibliography.............................................................................................................................46
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CHAPTER 1: INTRODUCTION
1.1 Overview of the research
The research focuses on the evaluation and effectiveness of customer centric
marketing strategies that are used by organisations. The reason for focusing on this particular
topic is that it can help in identifying the methods that are adopted to retain the loyalty of the
customers and the factors that affect the purchasing behaviour of the customers. For the
purpose of the research, the researcher has chosen to focus on the marketing strategies used
by fashion industries in order to attract customers towards their product. The research
conducted provides an overview of the mentality of the customers and the manner in which
organisations can gain competitive advantage in the market. At the same time, Blut et al.
(2015) stated that customer centric marketing strategy also helps in attaining the competitive
development of an organisation and ensures that composition and culture of the organisations
are maintained with the help of this particular strategy. Therefore it is necessary to
understand the development of the strategies that are required for maintaining a customer
centric approach so that organisations can develop a competitive advantage in the market.
1.2 Problem Statement
Customer satisfaction is an important aspect that can be considered as an important
development factor for an organisation. The problem with the research is that it helps in
identifying the effectiveness of customer centric marketing that is used by organisation s to
gain competitive advantage. As stated by Hill and Brierley (2017) in the modern world it is
important for every organisation to ensure that customer satisfaction is maintained. The
activities that are needed to be taken by an organisation in order to maintain the customer
centric approach is analysed in the research as a part of the problem that helps in the
development of competitive advantage. For the particular reason it is necessary that proper
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application of marketing strategies is obtained so that every company can understand the
needs and wants of the customers (Hill and Brierley 2017). The manner in which competitive
advantage and sustainability of the company is attained is one of the main factors that need to
be discussed.
1.3 Research aim
The aim of the research is to evaluate the customer centric marketing strategies that
are used by firms for attaining competitive advantage. The research assesses the manner in
which the various organisations across the UK fashion industry conduct customer centric
strategies to gain competitive advantage.
1.4 Research objectives
The objectives of a research help it to develop an interest while conducting the topic.
The research objective for this particular research can be stated as:
To evaluate the factors that help in determining the manner in which customers
perceive their purchases
To evaluate the customer centric marketing strategies that can help in attaining
sustainability and gain a competitive advantage in the market
To analyse the manner in which fashion industries implement the customer centric
marketing strategy to gain competitive advantage
To recommend ways to improve the marketing strategies
1.5 Research questions
The questions of a research provide an alignment with its objective. The research
questions for this particular research can be stated as:
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What are the factors that determining the manner in which the customers perceive
their purchases?
What are the ways to evaluate the customer centric marketing strategies that can help
in attaining sustainability and gain a competitive advantage in the market?
What is the manner in which fashion industries implement the customer centric
marketing strategy to gain competitive advantage?
What are the recommendations that can be provided to improve the marketing
strategies?
1.6 Research rationale
The research is analysed based on the manner in which modern business is conducted
in the market. The satisfaction level of the every customer needs to be maintained so that a
competitive advantage can be gained in the market. Satisfaction of the customers can be
gained by a considerable improvement in the quality and quantity of the products or services
offered by an organisation. Blut et al. (2015) states that the manner in which competitive
advantage can be gained by the organisations can be researched in an effective manner. The
reason for this being focused in the fashion industry is mainly because this particular industry
is popular among the customers and it is imperative that a proper analysis of the customers is
maintained. At the same time, Saeidi et al. (2015) stated that development of strategies that
can help in maintaining the loyalty of the customers is important so that a company can
develop the required resources for succeeding in a market. This provides an opportunity for
the companies to understand the required research that need to be conducted for gaining a
substantial competitive advantage in the market. In the modern world, the needs and demands
of the customers changes frequently and it is important that companies remain in align with
these changes to gain a competitive advantage.
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1.7 Summary
The research provides a significant overview of the customer centric marketing
strategies that are used by firms for attaining competitive advantage. The objective and
questions of the research has been formulated to conduct the research in a proper manner. At
the same time, the rationale of the research has been described so that the evaluation of the
customer centric marketing strategy can be conducted in detail.
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CHAPTER 2: LITERATURE REVIEW
2.1 Introduction
The chapter focuses on understanding the various concepts and theories that are
involved while conducting research on the customer centric marketing strategies that used by
organisations to attain competitive advantage. The various factors that contribute for
understanding the satisfaction of the customers and the application of theories that can help in
attaining the satisfaction are provided in the chapter. Moreover, the sources and factors that
affect the competitive advantage of organisations are highlighted that provides an analysis of
the rate of success that can be gained.
2.2 Factors contributing to customer satisfaction
Williams et al. (2015) stated that in order to ensure that the loyalty of the customers is
maintained, organisations need to undertake the analysis of various factors that contribute to
the satisfaction of customers. These factors can range from the type of products provided
along with quality of services rendered. The effective application of modern technologies
also provides customers with an opportunity to continue its progress by remaining loyal to a
particular brand or organisation. Hence, an analysis can be done that highlights the
effectiveness of the factors that contribute towards attaining customer satisfaction.
One such factor that contributes to attaining customer satisfaction is that of the
quality. As stated by Hill and Alexander (2017) loyalty of customers are attained if the
quality of products served by an organisation meets their expectations. Quality of a product
can be judged by taking into consideration the resources that are used for the manufacturing
of a product. This also pertains to the effective application of sustainability factors, as
customers tend to compare the environmental issues that may be faced while using a
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particular product. In the case of services used, the behaviour of the people rendering and the
response for providing the service contributes to the satisfaction and loyalty of the customers.
As stated by Kandampully, Zhang and Bilgihan (2015) price plays an important role
for the success of an organisation. Every customer tends to compare he prices of products
with more than one place that sells the same type of products. This helps the customers to
choose from the place that offers relatively cheap price and thereby attain satisfaction. As
observed by Orel and Kara (2014) the effectiveness of the prices is based on the discounts
provided so that a better quality of product is obtained at a less time. Therefore, from the
initial analysis it can be said that the price and quality of products or services contribute
heavily towards the satisfaction of customers. Customers tend to check that the quality of
products is attained and then purchase it at a less price (Bilgihan 2016).
Hence, it is necessary for organisations to ensure that the prices of products are kept at
reasonable rate so that it matches the quality of products served. At the same time apart from
the price and quality, another factor that contributes towards the success of customers is that
of the effective use of technology. As stated by Eid (2015) in the modern world, the
importance and effectiveness of technology cannot be compared with any other source of
popularity.
Technology provides an opportunity for the organisations to reach customers and
ensure that the marketing propensity is strengthened. The satisfaction of the customers lay in
the fact that with the help of technology they can ensure that products and services are
purchased within a short period (Pérez and del Bosque 2015). Less amount of money is spent
on travelling and the choices provided by an organisation seem to be more in the case of
online shopping. Therefore, it can be said that the effective application of technology plays a
crucial part in attaining the satisfaction of the customers.
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