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Part 2 Video Transcript:

Introduction

Zara is a famous person in the fashion world. They are a big company all over the world and a bright success in shopping. Started in 1975 by Amancio Ortega and Rosalía Mera, Zara has become a major player in the world of fashion. What Zara does goes beyond clothes stores to cover different parts. This includes making clothes, being kind to the environment, and fitting tech easily into how they work (Chunling, 2020). Zara has changed the style world in a big way with its new idea and many different items.

Zara doesn't just follow styles; it starts them. The brand helps to spark creativity and new ideas, and it's also very important in helping the fashion industry grow. Besides the appeal of its clothes, Zara affects how fashion trends happen and helps the fashion industry grow. People talk a lot about how Zara is doing in the fashion world. This is an important topic to cover.

This SWOT study helps understand better how Zara makes its big decisions.

Zara's Strength

Zara has many good things going for it in the clothing world, like being seen as an important part on the world stage. This is just the beginning. A major strength of Zara is its large amount of money. In the last money year, the brand got big yearly income and it was over $25 billion. Zara has lots of good clothes. They make safe fashion and new shopping ideas too. They also care about being different and fun.

Zara's name keeps being good because people think a lot of it, and it's ranked high as brand value and effect in fashion world. Zara's worldwide reach is shown through its shops and activities in more than 90 countries, showing how Zara can work in many places globally. This mix makes Zara a strong contender for success and creativity in the always changing world of fashion.

Weakness

Product Dependence: Zara's big focus on certain clothes makes the brand vulnerable to changes in what's in style. This makes it easy for bad times in the market to affect them. This weakness was seen in the dropped sales by 6.4% last year (Jiang, 2020).

Legal Challenges: Having a solid legal system is key for keeping business steady. Just like other companies, Zara also had big legal problems like people suing them for copyright violation. In 2010, the brand got a €750 million fine for breaking intellectual property rules as specified by the European Commission.

E-commerce Competition: Zara has a good online profile, but it has tough rivals in shopping on the internet. Getting left behind by main rivals shows how fierce the competition is in the online shopping area.

These problems show where Zara must change their plan. They need to do this so they can stay strong and win in the fast-moving clothing store business.

Zara's Opportunities and Threats in the Fashion Retail Market

Opportunities:

In the clothing store industry, Zara faces an exciting place with many chances and problems.

Opportunities:

Fashion Retail Industry Growth: The growing size of Zara's business gives them lots of chances to grow even more. Zara's new ideas help the company get a piece of this growing market, for fashion shops made over $50 billion last year (Chunling, 2020).

Exploration of Emerging Markets: Zara can use new markets to gain more money. It's a good chance because digital change and more use of technology are growing all around the world.

Demand for Innovative Retail Solutions: The constant change of buying options gives Zara more ways to make money. This includes things like doing good for the Earth by making clothes in a safe way and giving people a fun time when they shop in their stores. This helps make Zara very successful.

Threats:

Intense Competition in Fashion Retail: Zara has strong competition from other fashion stores and needs to be different in a smart way to stand out in a busy market. Well-known rivals are stores that sell cheap, trendy clothes quickly and high-end shopping places.

Data Security and Privacy Risks: As the number of online threats grows, Zara is at risk of losing its customer data and the trust put in its brand.

Regulatory Changes: Changing to current rules about protecting your information, especially those for privacy, is hard for Zara's business. Following new rules is important to handle a changing rules area.

To tackle these chances and risks, we need smart speediness and active actions to make sure Zara keeps doing well in a fashion retail world that's always changing fast.

Conclusion and Recommendation

In short, Zara's study shows that their business has many good points. These include being strong in money matters, having a wide variety of products to choose from and being well-liked or thought of positively. But issues like being dependent on particular clothes brands and legal problems make things difficult. The fashion store business is growing a lot, but there are hidden chances in new markets ((González-Padilla and Zori, 2021)). At the same time, Zara has to fight with rival companies, protect itself from internet risks and deal with changes in laws that influence its dealings with different partners.

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The Reference List: (Apply Harvard Referencing Style)

Alessandri, L., 2021. How sustainability as a brand mission affects customer satisfaction in the fashion industry: a field research on the mediating roles of guilt and trust.http://tesi.luiss.it/32362/1/720271_ALESSANDRI_LORENZO.pdf

Chunling, L., 2020. Analysis on the Marketing Strategy of Fast Fashion Brand Zara Based on 4C Theory. In 4th International Conference on Economics, Management Engineering and Education Technology (ICEMEET 2020) (pp. 3-5). https://webofproceedings.org/proceedings_series/ESSP/ICEMEET%202020/ICEMEET20089.pdf

Ferrer-Estévez, M. and Chalmeta, R., 2023. Sustainable customer relationship management. Marketing Intelligence & Planning, 41(2), pp.244-262.https://www.emerald.com/insight/content/doi/10.1108/mip-06-2022-0266/full/html

González-Padilla, P. and Zori, C.G., 2021. Big Data Optimization in Zara: How Zara Will Optimize Its Process With Big Data Due to the COVID-19 Situation. In Advanced Digital Marketing Strategies in a Data-Driven Era (pp. 145-157). IGI Global. https://www.igi-global.com/chapter/big-data-optimization-in-zara/284286

Jiang, S., 2020. A Comparative Analysis of Chinese and British Consumers’ Consumption Behaviours and Attitudes Toward Fast-Fashion Brand as Zara and H&M. Asian Journal of Social Science Studies, 5(2), p.17. http://journal.julypress.com/index.php/ajsss/article/view/773

Kovač, I., Palić, M. and Tolić, M., 2021. The importance and significance of the marketing mix elements in fashion retailing. InterEULawEast: journal for the international and European law, economics and Market Integrations, 8(1), pp.15-38.https://hrcak.srce.hr/file/378711

Lala, A., 2018. FAST FASHION. BENETTON AND ITS MAIN COMPETITOR INDITEX (ZARA).http://dspace.unive.it/bitstream/handle/10579/12062/854181-1197887.pdf?sequence=2

Lin, P. and Zhang, J., 2018. Study on Customer-oriented Corporate Development Strategy.https://webofproceedings.org/proceedings_series/ECOM/MSIED%202018/MSIED21014.pdf

Sitaro, T.D., 2020. Fast Fashion and Sustainability-The Case of Inditex-Zara.https://research.library.fordham.edu/cgi/viewcontent.cgi?article=1044&context=international_senior

Su, Y.Z., 2020. The Internationalization Strategies of Fast Fashion Clothing Retailer Brands: A Case Study of ZARA, H&M, UNIQLO, and Gap. Wenzao Ursline University of Languages.https://c030.wzu.edu.tw/datas/upload/files/2020%E7%95%A2%E6%A5%AD%E7%94%9F%E8%AB%96%E6%96%87/108GP_1105209030_%E8%98%87%E7%BE%BD%E7%94%84.pdf

Su, Y.Z., 2020. The Internationalization Strategies of Fast Fashion Clothing Retailer Brands: A Case Study of ZARA, H&M, UNIQLO, and Gap. Wenzao Ursline University of Languages.https://c030.wzu.edu.tw/datas/upload/files/2020%E7%95%A2%E6%A5%AD%E7%94%9F%E8%AB%96%E6%96%87/108GP_1105209030_%E8%98%87%E7%BE%BD%E7%94%84.pdf

Yide, S., Value Creation Strategy Analysis of ZARA since Internationalization. Academic Journal of Business & Management, 3(11), pp.13-19. https://francis-press.com/uploads/papers/UcxOatfXKvREcYixpaXPPbT2wKSUz3Rg9f3hKz4n.pdf

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Part 4: Self-Reflection and Actions:

Self-Reflection and Actions on Zara's Marketing and Business Strategies

The in-depth analysis of Zara’s business strategies, particularly on its marketing mix and customer focus provides a deep understanding of the intricacies and volatility of the contemporary fashion retail trade. As one reflects on the journey that Zara took, a number of important lessons can be gleaned which are vital for any budding business professional or marketer who aspires to recognize the terrain of modern business practices.

Adaptability and Market Sensitivity:

Zara is a highly successful company, but this is largely because of its highly adaptive and market-oriented approach. Of all the aspects, the agility capacity of the brand to respond quickly to any changing fashion trends and customer preferences has proven to be one of the most important elements in today’s fast-moving business landscape. This insight makes me focus on market research and trend analysis within any business strategy I create, so that the company would always be relevant and responsive to market trends.

Embracing Technological Advancements:

Zara’s use of advanced technologies like AI and machine learning in its operations goes to show the importance of innovating in business in terms of efficiency and competitiveness. This approach feels right to how I see the digital age where the integration of technology is not just advantageous but fundamental for the ability to survive and prosper. Going forward, I intend to support and establish innovative technologies in operational and marketing strategies to stay ahead of the competition.

Ethical and Sustainable Practices:

Zara's commitment to ethics and sustainability, especially in an industry often criticised for its environmental impact, is impressive and informative. My belief in corporate social responsibility is supported by this commitment. I know ethical and sustainable company practices are increasingly important for long-term success. Thus, I will build sustainable business models to prioritise ethical decision-making.

Customer-Centric Approach:

Zara’s marketing paradigm which is based on long-term relationship building and addressing specific customer needs also emphasises the importance of this understanding and concern for the customer in marketing strategies. This is consistent with my belief that the customer is at the centre of any business model. Towards future projects, I plan on improving customer engagement and satisfaction by offering personalised services, using feedback mechanisms, and promoting continuous improvement based on the customers’ insights.

Diversification and Risk Management:

Zara’s case study also illustrates risks of focusing on some specific product lines and markets too much. This insight inspires me to take a diversified approach towards business operations and products offering, spread risk and capitalise on multiple market opportunities.

Legal and Regulatory Compliance:

Legal issues are one of the challenges faced by Zara which underlines the importance of knowing and following legal and regulatory rules. In a globalised business world with different legal landscapes, this aspect is especially important. Therefore, I intend to make sure that all the business strategies developed under me are within the reach of the relevant laws and regulations so as not to fall into legal pits.

Finally, Zara's strategy studies illuminate adaptability, technology advancement, ethics, customer focus, diversity, and legal compliance. These insights will help me design preventive, innovative, ethical, customer-focused, diverse, and legally sound business strategies. Zara's lessons will guide my business career.

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Part 3 Question 2 Infographic Texts:

Part 3: b. What Makes a Sustainable Customer-Oriented Marketing Strategy?

A good business plan that focuses on customers needs to put building long-lasting relationships with them first instead of trying to make quick money (Freestyle and Chalta, 2023). This method requires a good grasp of what the customers need, acting fairly in business, and being flexible to changes in market situations. It highlights that long-lasting happiness and loyalty from customers are vital for successful businesses to thrive.

Zara’s Approach to Sustainable Customer-Oriented Strategy

Long-term Relationship Building

Zara's business plan depends on always helping customers and coming up with new ideas. This focus is seen in the many help services and constant improvement of products. It helps keep up with new technologies and meet what customers want. Having good connections with customers is the main idea of the company's way of doing business. The importance of making customers happy is very big. It helps build strong connections that can last for a long time.

Ethical Practices

Zara is focused on making customers happy. That's why they do the right thing all the time. You can see this in the strong steps a brand takes to keep data safe and its careful privacy rules, protecting customer information in times when privacy is more important (Lin and Zhang, 2018). Importantly, Zara's efforts to help society include things like being good to the environment, giving to charity, and doing business fairly and properly. All of these are based on the same values and understanding of right and wrong that its customers share. These actions help build a base of trust and equality within the brand.

Adaptability

Zara's plan stresses the need to be flexible with changing markets and very important new technology. The company shows this adaptability by offering Cloud services, including things like Azure. It is also involved in projects related to artificial intelligence and machine learning. Zara can change quickly to fit what people want now. They also try to see what will happen next and put their brand in the lead of new technology changes to stay ahead in the always-changing world.

Impact and Effectiveness of Zara's Strategy

Zara's focus on pleasing its customers has worked well. It has built strong loyalty and trust with its customers (Alessandri, 2021). People like Zara not only for their new and fresh products but also for their strong beliefs and focus on the needs of customers.

Zara Office shows long-term planning success

At first, Zara focused on normal shopping with just pieces of clothes in a store. Later they changed to a plan where customers pay regularly to get clothes. For example, Zara changing to Zara+ shows a change from just selling things to giving continuous services. The changing of clotheslines and giving special style advice make up a service part (Sitaro, 2020). This plan adjusts to the different and shifting tastes of customers, making a constant money flow for Zara. It also makes sure a steady base for long-lasting business wins.

Zara focuses on what customers want, mixing new ideas with old ideas. This helps keep them popular in the fashion business. Zara is a leader in the market because they care about their customers. Other companies want to copy them because they want their business to last and keep up with what customers want.

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Beige Illustrated Fall Fashion Infographic (2)

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Part 3 Question 1 Infographic Texts:

Part 3: Q. What is Marketing Mix and How Does It Relate to Customer-Oriented Brand Strategy?

The marketing mix is a basic idea in the area of marketing. It includes a group of things that companies use to change what people buy (Su, 2020). Traditionally, this mix revolves around the 4Ps: Product, Price, Place, and Promotion. These important parts are very important in making a company's big marketing plan. They help to decide where the company stands in the market.

Product means making things or services, while Price is about setting value and using price strategies (Lala, 2018). Place talks about choosing ways to distribute things, and Promotion includes all marketing and advertising efforts to promote stuff. This all-round plan helps businesses find their way in the market world. It helps them to stand out and talk to their wanted customers in a way that works well.

Zara's Marketing Mix

Product:

Zara provides a variety of items like good clothes and accessories. Zara's brand has many different products (Chunling, 2020). These things cost different amounts of money. This shows that Zara wants to sell things to all kinds of people and businesses. This big range of products shows how Zara cares about being creative and keeping high standards in the fashion business.

Price:

Zara uses a smart and flexible pricing plan that covers both the cheaper and more expensive parts of the market. This helps to fit different groups of buyers. This way of changing prices has worked well in getting different types of customers, from small people to big businesses.

Place:

Zara's items go all around the world by using different ways like websites, shops, partners and networks. Zara's big selling network lets their items get to many different people. This makes the brand known to more people and helps customers get their stuff easily.

Promotion:

Zara conducts robust advertising campaigns, utilizing a mix of traditional and modern media channels. Additionally, the brand establishes strategic alliances and sponsorships to enhance its brand image and influence. This approach contributes to Zara's visibility and credibility in the market.

Integration with Customer-Oriented Strategy

Zara uses an approach focused on customers in its marketing mix. It stresses knowing and solving customer needs a lot (Kovač et al. 2021). The company thinks about what its customers want. This can be seen in how they make and change products. They always use client input to make sure items fit with what people prefer.

Zara changes parts of their marketing plan to match what each customer needs. For example, different types of clothing are created to fit different customer groups. Understanding these four parts of the marketing mix and focusing on a strategy about what customers want makes customers happier. Plus, it makes Zara a fast, friendly brand for people who like fashion.

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Beige Illustrated Fall Fashion Infographic (1)