In this paper, we try to focus on the marketing plan. A business strategy explains the plans of a business i.e. how is it planning to succeed in the market. This strategy is planned to make sure that the company is able to evaluate its position against the competitors in the industry. Business strategy helps a business in formulating strategies according to the goals and objectives of the company and helps to target the potential customers. When a company is evaluating its own position, it sees their success factor of the companies that are on top in the industry and tries to formulate strategies and will make it the market leader in the industry. It seeks how it can achieve competitive advantage that will keep it ahead of other companies in the industry.
Table of Content
Present Vision, Mission and Corporate Objectives1
Product mix Single product, Product line, New product description2
At the Store2
With the Product2
Bargaining Power of Suppliers8
Bargaining Power of Buyers9
Threat of Substitutes9
Threat of New Competitors9
Key Factors for Success10
Short Lead Time10
Elements of marketing communication mix11
Value Chain Analysis14
Strategic Options and Choice15
Resistance to Change16
Not Involving the Employees in Decision Making17
Role of Strategy in Strategic Planning18
Zara has been the trend setter in the fashion industry. Since the launch of the company, it has been very successful. The company has been successful because of the technology that it has adopted. The company's success depends on the blend of the technology that the company has adopted and has been able to break all the rules that the fashion industry was following. Vertical integration has made the company earn a lot of profits and remain ahead of its competitors in the market. This was due to the fact that the company was able to reduce its cost and increased the barriers for the potential new entrants in the industry, which is why; the company is the market leader in the industry (Lindsay, 4).
Zara's position in the market is due to the strategies that the company has adopted. The company has policies that are making it the leader. The profits of the company tripled in the years between 1996 and 2000 and have even increased between the years 2001 to 2007. The company has been earning revenues from $2.43 billion to $13.6 billion in these years, and this is the reason the company was able to move ahead of the market leader, Gap.
Present Vision, Mission and Corporate Objectives
The company has a different vision and mission for their store and their products. The store of the company benefits the business by the following ways. It helps them to recognize the need of the business also helps the company in earning more that it according to the objectives set by the country.
Product mix Single product, Product line, New product description