Global Marketing Signature Assignments Final Project
This final assignment Based on 2 assignments I’ve already submitted earlier. The main topic is about the company of (ZARA).
**Please find the 2 assignments attached along this request.
marketing plan should contain an in-depth analysis that addresses the following critical elements:
Product Idea and Mission Statement – Formulate an idea for a new product or service to be offered by an existing company. Show how your product is aligned with your chosen company’s mission statement.
1. Overview –
Give an overall description of your chosen business and proposed product/service, specifically defining the marketing
environment, the intended target markets, and the benefits sought by potential customers.
2. Mission Statement –
· Analyze the mission statement of your chosen business. Does the company’s mission statement focus on the
· market or markets that your new product is attempting to serve? Is it
oad enough to adequately describe the company focus
· and core values? Is it too
oad? Does it encompass minute details?
3. SWOT Analysis –
The SWOT analysis, sometimes refe
ed to as a situational analysis, identifies an organization’s internal strengths and
weaknesses, as well as external opportunities and threats. For your company, perform a SWOT analysis, detailing the elements below:
a) Internal – Determine the internal components (strengths and weaknesses) of the marketing environment. Make sure to conside
production costs, marketing skills, financial resources, company or
and image, employee capabilities, and available
) External – Determine the external components (opportunities and threats) through an environmental scan. Make sure to conside
political, economic, social, and technological events, as well as trends and expectations.
4. Marketing Objectives – Before the specific details of a marketing plan can be developed, objectives for the plan must be stated. Without
objectives, there is no basis for measuring the success of your marketing plan activities. Marketing objectives are statements of what is to
e accomplished through marketing activities.
A. For your company, formulate at least five marketing objectives related to the new product/service that are realistic, measurable,
time specific and comparable to a benchmark.
B. Discuss the objectives as they relate to commercial, legal, and cultural aspects of a global business environment.
5. Marketing Strategy – The marketing strategy involves all of the activities of selecting and describing one or more target market segments
and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.
A. For your new product, recommend a detailed marketing strategy that describes your target market. Possible variables include
demographics, psychographics, geographies, and behavioral segments. You may also choose to describe the market in terms of
anticipated growth, revenue opportunities, past performance, etc. The strategy needs to be measurable, sustainable, accessible,
and reachable. Describe your rationale for selecting the target market(s). Why are these markets attractive from a marketing
B. Provide a detailed description of the marketing mix, including product, place (distribution), promotion, and pricing strategies.
C. Does the recommended marketing strategy specifically relate to the company’s strategic focus, culture, and cu
processes? Discuss how each component is addressed.
6. Implementation, Evaluation, and Control (IEC) –
Implementation is the process that turns a marketing plan into action assignments and
ensures assignments are executed in a way that accomplishes the plan’s objectives. Evaluation involves gauging the extent to which the
marketing objectives have been achieved during the specified time period. Control provides mechanisms for evaluating marketing results
in light of the plans of objectives and for co
ecting actions that do not help the organization reach those objectives within budget
A. How do you intend to implement your marketing plan? Detail specific action items and describe how they will be executed.
B. Does your marketing plan comply with legal systems, regulatory standards, and ethical practices? How do you know? Is there a
formal process of evaluation? Should there be? Explain.
C. After initial implementation, how you intend to evaluate and control the overall marketing plan?
Running Head: Marketing Strategy 1
Marketing Strategy 2
MARKETING STRATEGY: ZARA BRAND
MKT315 Global Marketing
Table of Contents
Marketing Strategy: Product 3
Marketing Strategy: Pricing 3
Marketing Strategy: Distribution 3
Marketing Strategy: Promotion 4
Marketing Strategy: IEC 4
Zara has remained one of the top selling
ands in clothing. It is symbolic to the lifestyle choices of people of all classes these days. The following is the extension of the marketing strategy of the Zara clothes, new product line launched for the young customers.
Marketing Strategy: Product
As per the SWOT analysis presented, the final product will be the upper clothing line targeted for young customers with age range of 18 to 30 years. The young adults see vi
ant colours, mixed expressions portrayed through abstract images over the front and back of the upper clothing; ranges as well as they wish to wear something unique here. Thus, this product will be available with specific notions depicted over the clothes such as T Shirts and high neck short shirts with open or tucking both kinds of options available (Duoyan, XXXXXXXXXXThe T-shirts will be available in both types, the short and long ones. At the same time, these shirts will be subjected to any customization, which the customer would demand. For example, if there is anything specific in mind of the customer, he or she will have the option of getting the same printed over the shirt (Duoyan, 2021).
Marketing Strategy: Pricing
As per the pricing, Zara upper clothing will cover two segments; one will be semi-premium and the second one will be premium. The semi-premium range will be available with a price range of $40 to $70. Any additional price of customization will be available at the cost of $25 per print of the word or image. The premium range of product will start from $ 70 to $140 with customization range of $25 per word or picture. All of these shirts will be available at major Zara outlets across nation.
Marketing Strategy: Distribution
The listing of the products will be catalogued with the outlets and there will be promotional hoardings outside the outlets as well as in all major cities of Canada (Duoyan, 2021).
Marketing Strategy: Promotion
As mentioned above, the promotion of new cloth line will start from the Zara outlets only. The local media resources will be used to ensure that the awareness about the particular product reaches out to the young customers. Additionally, social media campaigns will play crucial role in promotional activities. These will be like organizing contests, promotional exercises about winning one of the products or about seeking the knowledge and awareness of the Zara
and among the local young populations. This is more like understanding the level of awareness through online campaigns to access the maximum number of population.
Marketing Strategy: IEC
Clearly, the company has a well-thought-out logistics plan. Zara assures its consumers flexibility in the variety, amount, and regularity of innovative styles because it has an in-house production system where it designs and produces its attractive apparel. Another competitive edge the company has over its competitors in terms of distribution is its well-coordinated allotment system, in which certain commodities are produced for specific retail shops based on demand in that store (Sukma & Srimulyo, XXXXXXXXXXH&M and Topshop have only just managed to gain such an advantage. Zara, on the other hand, has the capacity to spot chances in sti
ing fashion trends. Zara's competitive edge over its competitors is based on effective promotion techniques and a well-balanced promotion mix (Sukma & Srimulyo, 2020).
Summing up the above, despite the fierce competition from Mango, Benetton, H&M, and Topshop, its items have a fair market share. Zara has transformed the fashion business by utilising a rapid fashion strategy and democratising dressmaking, resulting in trendy and affordable goods for the public.
Duoyan, H. (2021, April). Research on ZARA Strategy from the Perspective of SWOT Analysis Method. In 2021 6th International Conference on Social Sciences and Economic Development (ICSSED 2021) (pp XXXXXXXXXXAtlantis Press.
Sukma, N. R., & Srimulyo, K XXXXXXXXXXMarketing Mix in Self-help Li
aries: An Analytic Study. Opcion, 36(27), XXXXXXXXXX.
MKT315 Global Marketing
Table of Contents
Mission Statement 3
SWOT Analysis 3
Organizational Objectives and Strategy 4
SMART Marketing Objectives 4
The mission of Zara is to give designers options to their customers before anyone could else give them.
The new product idea of introducing rented designer clothes to student aligns well with the mission statement of the company. Until now, no one in the market is offering this service. The product range, which Zara offers, does not offer rent option. The designers, which are heavy on pocket and cannot be afforded by students and working professionals will take the advantage of this new offering. They can wear designer dresses in pocket friendly prices and Zara could even maintain the lead in the same as being the first one to offer it.
The advantage, which ZARA enjoys, is of being a pioneer in the industry and looked after as a provider of fast moving fashion (Martin Roll, XXXXXXXXXXDue to presence of high number of stores (96 in 200 countries) across the globe, the supply chain management is optimized. It has proven that within 48 hours changed fashion reach to its stores.
As the diversification line is new it need to pull new designs form designer labels very quickly while making sure their business is not hampered with rented one. It needs to set its foot in US and Asia market to attract the target segment (Ha, 2021).
The rented business is new and not opted for any bigger
and yet; it has high growth potential especially among segment, which has need. The sustainability is also ensured and it will help its 3R’s campaign as well. The resale market is estimated to be $30 billion and expected to increase two fold by 2023. The technique of influential marketing can also be helpful during promotions.
It has competition with Chinese enterprise Shein not only in terms of mobile app downloads but also in the arena of price. The pandemic and the social distancing can be a challenge and it need to work on hygiene of the dresses, which will be given on rent.
Organizational Objectives and Strategy
SMART Marketing Objectives
Specific: To increase local customer base of students by 20% with student ID