International Marketing Strategies for PRADA: A Comprehensive Report

This report provides a comprehensive analysis of PRADA's international marketing strategies. It begins with an introduction to international marketing and its relevance to the fashion industry, specifically focusing on PRADA as a luxury brand. The report then critically examines the advantages and disadvantages of globalization for PRADA, highlighting how it impacts the brand's expansion and operations. It further analyzes the relevant environmental factors—political, economic, social, technological, legal, and environmental—that influence PRADA's international expansion. The report also delves into PRADA's competitive advantage within the international fashion industry, discussing strategies for maintaining and enhancing its market position. The analysis includes various factors like skilled workforce, product quality, and marketing strategies. The report concludes with insights into PRADA's global presence and future prospects. This report is contributed by a student and is available on Desklib, a platform providing AI-based study tools for students.

International Marketing

Table of Contents
INTRODUCTION ..........................................................................................................................1
Critical analysis of globalization advantages and disadvantages................................................1
Analysis of relevant environmental factors which affects the international expansion of
PRADA.......................................................................................................................................3
Critical analysis of competitive advantage of PRADA with the fashion industry international
competition..................................................................................................................................4
CONCLUSION/ INSIGHTS...........................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
In today's context, international marketing refers to the applications of marketing
orientation and marketing capabilities into the boundaries of the other countries. International
marketing is an aspect which helps organization to expand its business dimensions within the
boundaries of other nation (Paliwoda and Thomas, 2013). Business unit adopts international
marketing perspective in order to generate profit out of the operations which are carried out to
make goods and services available to the customers. This aspect helps commercial entities to
expand their business activities in the internal market. Over the larger perspective, it can be
stated that international marketing provides organization to cater larger customer base and make
direct flow of goods as well as services to the final customers. Different operations are carried
out by the management of company to market its product and services in order to position itself
in the international market. It comprises of various aspects that need to be considered by the
organization to cater larger customer base whose requirement can be fulfilled through marketing
of product and services in the global market (Caro and Martínez-de-Albéniz, 2015.).
PRADA is a well-known brand in the fashion industry and it is holding premium market
positioning in the Italian market. It is the brand which focuses over the lifestyle need of the
targeted groups of customers. PRADA is among those Italian accessories firms which have
various similarities but also have striking differences that make the particular brand unique
from all the other brands available in the market place. Product range of PRADA is very
distinctive and has a very creative vision to deliver better offering to the customers. It caters the
larger market segment as it is recognized as a well-known brand among all. Goods which are
traded by PRADA fall into the category of luxury goods and are appropriate as per the lifestyle
of people to which they are rendering.
Critical analysis of globalization advantages and disadvantages
Globalization is the perspective which helps organization to achieve the wants of
customers and meet them in an advance form. As market is growing over a wider scale, all the
changes within the work performance of PRADA need to be summed up in order to serve larger
customer groups (Cortez,2012). It is the perspective which integrates the entire process to drive
market forces and achieve greater position in the international market. Besides this, globalization
is associated with the greater advantage and disadvantage for the business unit to serve the
expansion purpose within the international boundaries.
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As per the viewpoint of the Buciuni and Pisano, (2015), globalization perspective is very
beneficial for PRADA as it reduces trade barriers and entire business operations are carried out
in a smooth manner. This makes brand to evolve as a major luxury brand in the international
market. It is the advantage for PRADA to recognize and secure the market place to perform these
entire operations. As globalization increases trade across the national boundaries; so PRADA is
able to capture new market place and new customer groups with the change in business
operations within the international market.
According to Paliwoda and Thomas, (2013),with the globalization into the fashion
industry, PRADA provides greater employment opportunities for the people to enhance
production perspective and become the most creative brand within the marketplace. Due to
globalization, employees have distinctive employment opportunities to design the product and
dominate the international market with the luxury collection of PRADA. Beside this, PRADA is
able to provide a growth platform for the people through marketing their luxury collection into
the new market.
With the viewpoint of Mo, (2015), PRADA can create new stores to display its product
to the other people this will provide the greater platform to the particular brand to make the
offering. With the new opening in the international market, PRADA will be able to make greater
availability of the apparels and accessories which are being offered by them. With the innovative
and creative ideas, brand will be able to become a source of fashionable products for the groups
of people which are being catered by PRADA. This will also help business entity to cater women
segment simultaneously by introducing women apparels range along with accessories which
attract them to make purchase of the products and obtain quality services.
On the contrary Caro and Martínez-de-Albéniz, (2015) , with the globalization of the
brand, it encounter various other aspect that affect the performance of the particular brand in the
international market. As the policy get restrictive in the functional path of PRADA to cater the
customer group which is present into the international market. This hamper the entire growth
perspective and PRADA is not able to develop the market functioning as they are restricted to
the certain extent. Due to restriction over the growth and the development of PRADA , it may
cause the adverse effect over the economic performance and may even lack to adopt the global
proportion due to the restriction imposed by the government to restrict the entry perspective of it.
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In accordance to Shen and et.al., ( 2012), many problems are being encountered by PRADA as
the market condition of the other country drives the entire economic condition and create a
intense competition among thee other brands which are present into the market place. With the
lots of options the customers are not catered in a proper form as they have lots of options to
adopt and meet the requirement related to the product and increase the collection .
Analysis of relevant environmental factors which affects the international expansion of PRADA
Environmental factors are the essential factors which need to be analyzed in an effective
manner as it affects the international expansion of the various brands which have been adopted
by PRADA. This will help to analyze the entire market and find the current market place were it
is performing the entire work process . Through international expansion of the brand there are
different factors which hinder the expansion procedure of PRADA. It comprises of the set of
factors which signifies the performance aspect of the particular industry directly and indirectly
(Makos, 2015).
Political factors: It is the major factor which affect the expansion perspective of PRADA
as it is related to the present political condition of the market in which they are trying to make
the entry (Mo, 2015). They need to consider all the norms and policies to serve the expansion
perspective within the boundaries of the other nations.
Economic factors: Due to inflation in the market place, these factors affect the growth
aspect of PRADA as the economy of the other nation need to be determined in an proper form.
PRADA need to analyze the overall perspective which are related to the various cost that are
involved into the growth perspective into the international market (Turnbull. and Valla, 2013).
This will reduce the exchange of PRADA with the other nations and will not provide the
accessibility to enter the new market with the luxury collection.
Social factors: PRADA being the fashion brand need to consider the social aspects that
are present within the international market in which they are making the entry to serve the
growth perspective (Caniato, F. and et.al., 2012). All the demographic aspect need to be
considered so that the offering is not affected. Beside this, the lifestyle of the people in the
international market differs and due to which it affect the expansion perspective of PRADA.
Technological factors: With the advance into the technology, PRADA require to modify
the offering perspective in order to stay up with the changes and implement them in an proper
form. Due to extensive growth, PRADA may lack to a certain extent to relaunch its apparels
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and fashion accessories to the different people so that they are able to be more innovative. With
modernization and innovation, PRADA may lack to a certain extent to meet with the
technological advancement. Hence, the entire operations get integrated with the growth
perspective.
Legal factors: These are the factors which affects the international expansion of PRADA
as they changes from time to time. Before making the entry into the international market , all the
legislative perspective are regulated in an proper form by PRADA (Fletcher,2013). All the
regulations are considered which are related to the product, employment , patent and many others
in 0order to make the offering. But, some sort of failure in the follow up of the regulations
affects the international expansion of PRADA.
Environmental factors: All the other aspects related to the environment need to be
analyzed in an proper form so that PRADA is able to make the offering in an effective manner.
But there are various dimensions which are included into the growth perspective and they need
to be analyzed in a proper form as this factor affects the international expansion of
PRADA(Makos, 2015). With the can adoption of the new tactics PRADA would be able to
cater the larger customer groups this will result in the easier offering of the product that are being
launched by them into the international market.
Critical analysis of competitive advantage of PRADA with the fashion industry international
competition
Competitive advantage can be defined as that advantage which is gained through making
the offering over the lower price and provide the greater benefits to the consumers which are
catered by PRADA (Cortez, 2012). There are various techniques which are adopted by PRADA
to make the offering to the customer group as they are new into the market place and the
competition is very intense. The competitive advantage act as the attribute which allow PRADA
brand to outperform for its fashion industry international competition.
As per the viewpoint of the Baker and Sinkula, (2015) , PRADA avail many competitive
advantage within the fashion industry as the competition is very advance in the present business
work in which they are carrying out their entire process. There are various other brands which
are making the same offering into the same market and this require PRADA to a critically
analyze all the perspective to meet the competition in a proper form.
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According to Amarakoon, Weerawardena and Verreynne, (2013) , to meet the advantage
in the competitive fashion industry PRADA requires the skilled workforce to manage the entire
work and cater the larger customer groups so that they are able to make the entry into the
international market. With the skilled workforce, PRADA would be ale to develop its network
of flagship the product with the direct operating stores. This will make the easy accessibility of
the products for the customers which are catered by PRADA.
With the viewpoint of Cortez,(2012), the product quality of PRADA need to excellent as
it is the luxury brand which has the iconic products with the reasonable prices for the purpose to
compliment the style statements of the people. This will help PRADA to maintain the fashion
brand and position into the market as the luxury fashion icon. All the resources will be used in an
effective manner. Shih and Agrafiotis, (2016),stated that PRADA has been one of the most
luxury brands that operates business in fashion industry and all the brand has been acquiring
attention of customers due to various ready to wear apparels and accessories. The Italian brand
has been enjoying long term growth prospects due to the customer base in the existing market.
PRADA is a competitive brand; therefore it can enter into new market places as well with new
strategies and techniques. In order to enter into international market place, PRADA has to make
sure that the brand is adopting new marketing strategy for capturing attention of different clients
from diverse segments. In such respect, innovative concepts should be used so as to survive for
long term in competitive fashion brand. At the same time, the brand can also adopt the strategy
of differentiation in which focus ought to be given on luxury apparels. In accordance to Caro
and Martínez-de-Albéniz, (2015), Changes have been occurring in the fashion industry; thus for
such purpose, PRADA has to emphasize more on becoming competent identity. The brand can
differentiate itself from the competitors through focusing on customer's standards and lifestyle.
Regarding this, needs and demands of clients should be met.
In Italian market place, PRADA has acquired limited market share because the brand has
control over fashion industry. Hence, while entering into new market place, PRADA needs to
ensure that products are coming into market place as per the needs and preferences of customers
as that will only retain company's position in external market place (Shih and Agrafiotis, 2016).
Further, internal processes should be changed where in only efficient and potential designers
should be selected so that they can develop prominent collection for the clients. Moreover, from
many research studies, it has been identified that PRADA yet has acquired competitive
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advantage because it maintains transparency in the internal business processes which helps
people to identify what clients require. Terpstra, Foley and Sarathy, (2012),claimed that PRADA
also focuses on prevailing competition at the market place because that might hamper the
sustainability aspects of business in new markets. In the international fashion industry, changes
are prevailing as now brands are promoting their products and services through diverse
methodologies; where in the most often used strategy is social media marketing. Almost all the
brands are emphasizing on developing prominent relationships with the clients so that they can
be retained (Tokatli, 2014). Thus, it can be said that competitive advantage has been acquired by
the brand through focusing chiefly on all the needs of clients. This will help to meet the
challenges in an proficient manner and the offering will be made to the large group of people.
Hence, PRADA would be able to meet the growth perceptive and avail the competitive
advantage in an proper form.
CONCLUSION/ INSIGHTS
From the following report it can be concluded that internationalization of the brand help
the expansion over the larger scale. This will help to make the offering to the large group of
people and expand the growth platform. PRADA would be able to analyze all the perspective
which are related to the expansion of the particular brand and make the offering to the people
which are present in the international market. With the analyze of the entire perspective, the
following aspect will help PRADA to manage the expansion perspective. Firstly, with the proper
analysis, PRADA would be able to cater the international market in an appropriate form as they
have the entire knowledge about the entire market operations within the international boundaries.
Secondly, managers can adopt the new tactics and techniques through which they are able to
cater the larger customer groups this will result in the easier offering of the product that are being
launched by PRADA into the international market. Lastly, managers can adopt the merger
techniques to make the offering to the customer group as they are new into the market place and
the competition is very intense. This will help to meet the challenges in an proficient manner and
the offering will be made to the large group of people.
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REFERENCES
Books and Journals
Amarakoon, U., Weerawardena, J. and Verreynne, M.L., 2013. Theorising about the role of HR
innovation in the competitive advantage of firms. In Australian Centre for
Entrepreneurship Research Exchange Conference 2013. Australian Centre for
Entrepreneurship Research Exchange.
Baker, W.E. and Sinkula, J.M., 2015. Maintaining Competitive Advantage Through
Organizational Unlearning. In Proceedings of the 1999 Academy of Marketing Science
(AMS) Annual Conference (pp. 206-209). Springer International Publishing.
Buciuni, G. and Pisano, G.P., 2015. Can Marshall's Clusters Survive Globalization?.
Caniato, F. and et.al., 2012. Environmental sustainability in fashion supply chains: An
exploratory case based research. International journal of production economics,
135(2), pp.659-670.
Caro, F. and Martínez-de-Albéniz, V., 2015. Fast fashion: business model overview and research
opportunities. In Retail Supply Chain Management (pp. 237-264). Springer US.
Fletcher, K., 2013. Sustainable fashion and textiles: design journeys. Routledge.
Mo, Z., 2015. Internationalization Process of Fast Fashion Retailers: Evidence of H&M and
Zara. International Journal of Business and Management, 10(3), p.217.
Paliwoda, S. and Thomas, M., 2013. International marketing. Routledge.
Shen, B. and et.al., 2012. The impact of ethical fashion on consumer purchase behavior. Journal
of Fashion Marketing and Management: An International Journal, 16(2), pp.234-245.
Shih, W.C. and Agrafiotis, K., 2016. The Sustainable Luxury Craft of Bespoke Tailoring and Its’
Enduring Competitive Advantage. In Handbook of Sustainable Luxury Textiles and
Fashion (pp. 137-161). Springer Singapore.
Terpstra, V., Foley, J. and Sarathy, R., 2012. International marketing. Naper Press.
Tokatli, N., 2014. ‘Made in Italy? Who cares!’Prada’s new economic geography. Geoforum, 54,
pp.1-9.
Turnbull, P.W. and Valla, J.P. eds., 2013. Strategies for international industrial marketing.
Routledge.
Online
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Cortez, K., 2012. LXRY 665: LUXURY INDUSTRY AND COMPETITIVE ANALYSISOF
READY-TO-WEARFASHION. [Pdf]. Available through:<
http://ibobel.pbworks.com/w/file/fetch/70077868/Kate%20Cortez%20EFFIC
%5B1%5D.pdf>. [Accessed on 26th February,2016].
Makos, J., 2015. What is Environmental Analysis? [Online]. Available through:<
http://pestleanalysis.com/what-is-environmental-analysis/>. [Accessed on 26th
February,2016]
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