6 pages/≈1650 words
Business & Marketing
UK fashion industry (Essay Sample)
This essay focused on the analysis of fashion industry in the United Kingdom. The analysis was conducted using SWOT analysissource..
UK Fashion Industry Analysis
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UK Fashion Industry Analysis
Macro and Micro Environments for the Industry
Textile industries in the United Kingdom are affected by both macro and microenvironments. These factors affect marketing management in order to facilitate the establishment of a good relationship with clients. It also helps in the creating satisfaction and worth to their clients. Marketing management in the United Kingdom needs to realize the effects of micro and macroeconomics to customers, distributors, competitors, and suppliers. Fashion industries in the United Kingdom have established noble affiliation with their dealers in order to make higher profits. Suppliers have the main role of supplying necessary resources to the fashion industries that facilitate production of goods (Kurz 2010, 4). The development of suppliers in the United Kingdom has brought great influence in the fashion industries. Fashion industries in the UK have also established a positive reputation with supply management. This is in their effort to develop loyalty with their esteemed customers by enhancing continuous supply of fashion products.
Fashion industries in the UK have also developed distribution framework. Over the years, fashion companies have enhanced product development in order to facilitate distribution. On the other hand, Fashion industries also believe that clients are the most essential elements that require frequent supply of goods. To enhance consumer satisfactions, fashion industries produce quality products that are sold at a reasonable price. Innovation is also enhanced in order to facilitate high quality products that satisfy the clients (Lancaster 2013, 1). Fashion industries have also been able to face issues of competition from other rival companies around the world. This is through lowering their prices lower that of their competitors without compromise of quality. This has allowed them to attract many customers in the global market. Products from the fashion industries in the United Kingdom are also unique in order to establish competition advantages. In this case, the industry has been able to venture and dominate into the global market
SWOT analysis for the fashion industry in the UK
Fashion industry in the UK is divided into sale and creative functions. This means that design for the products is maintained in one side while distribution and sale of the same products is considered on the other side. SWOT analysis is to anise the industry in the UK’s market.
Strength is used to portray the industry in terms of its brand positioning, recognition of name and revenue acquired. Fashion industry in the UK has various avenues of products distribution in the market. This includes ready to wear and other off the rack products that are highly accessible to fashion clients with low income (Williams 2013, 1). This is forms strength to the company because it allows their name and brand to reach higher potential customers. This will make the company make higher sales in the local and international market thus recording higher profits. The other strength is that the company makes higher quality and unique products compared to other companies worldwide. This has endorsed the company to create competitive advantage by gaining higher number of customers. The industry has satisfied large number of customers across the world due to their services. This has been reciprocated in the total revenue recorded by the industry.
One of the major weakness affecting fashion industry in the UK is the unnecessary cost incurred during the manufacture of the products. Fashion industry mainly concentrates on women wear, which has to be made from high quality material. Resources used to make these attires are very expensive making the production cost go higher. High production cost in the industry leads to lower gross profits. Lack of some presence in some regions is another weakness affecting fashion industry in the UK. This is because it reduces their chances to maximize sales in numerous parts of the global market. Reduced sales account for a lower profit to the industry.
Fashion industry in the UK has great opportunities due to the availability of raw materials and resources used in the manufacture of fashion products. United Kingdom is rich in threads and fabrics that are used to make fashion appeal. This lowers the cost of inputs thus increasing the profit margin. United Kingdom also has open source of labor that is employed in the industry (n. a 2011, 1). Higher labor employment leads to higher production of fashion products that meet consumers demand. High production of fashion products also leads to higher profit. Higher innovation and technology in the UK is also considered as a major opportunity. Machineries are used by fashion industries to make production and distribution of their products faster. This has increased their market scale and total revenue.
Economic status and politics are the major source of threats to the United Kingdom’s fashion industry. Trade of fashion products is highly affected political unrest of the country and other parts of the world. The industry is unable to venture into the global market on countries that are market by political unrest. Investing into these countries also faces threats of destruction in case of conflicts. Economic status of some countries is also a major threat to the fashion industry. This is because low incomes of the consumers restrict them from purchasing fashion products. Lack of consumer purchases in a country leads to reduction in their distribution. This has prevented the exposure of fashion products leading to their reduced recognition.
Key strategic services
Retail market Segmentation
Fashion industries in the United Kingdom are operated in wholesale and retail enterprise targeting major markets in UK, European nations and other nations around the sphere. The basic advantage that has made fashion industries in the UK to maintain their retail customers is their high quality customer services. Research in the industry indicates that, with quality and high standard products, the industry is executing higher sales through maintaining a large number of retailers (Rowley 2009, 352). Large number of retailers keeps craving for UK apparels, which are believed to be of high quality and value. The main thriving factors of fashion retailers in the UK are that females and ladies aged between 25 and 50 spend approximately 34 billion pounds in fashion wear every year.
Fashion industry in the UK has maintained wholesale and retail business because of their innovative styles toward opportunities in the global market. Formation of the fashion industry has been influenced by market penetration opportunities. Market research indicated that ladies in the UK are always visiting retail shopping malls to purchases fashion products. The research also indicates that women purchase fashion apparels based on popularity pegged to sellers and products’ brand (Birtwistle, Siddiqui, & Fiorito 2003, 121).
On the other hand, Fashion industry in the UK has identified that customers’ needs for the wear are too high, but their buying patterns are different. Some clients checked prices in order to plan and come back when prepared. Customer’s behavior in the retail industry is matched with splendid customer services that have reduced buyers’ corrosion rate hence maximizing sale of their products in the long run (Goworek 2010, 650). In order to take advantage of sale opportunities in the market fashion industry has adopted retail-marketing strategies. This is the reason why the industry has market segment for retailers in UK and other countries in the world.
The wholesale business in the UK has made the industry exercise quality customer service through employment of trained staff. This encouraged the fashion retailers to buy their products. In addition, high profitability has also arisen due to better customer service approaches. The fact that the fashion industry trades in the UK are of top quality and fashion oriented has increased revenue to the retailers (Ashman & Vazquez 2012, 984). Currently, fashion industry in the UK has over two thousand retailer customers who pledge services to the industry for executing good and high quality service. The industry intends to preserve and uphold retailers’ market segment and quality customer service in order to enhance future growth and development and achieve long-term goals.
Major fashion player in the UK
Zara Company in the UK is one of the major fashion players in the UK. It offers varieties of women wear that ranges from jackets, lady’s tops, skirts, leggings, shorts, and many others. The industry has also developed new female products and women clothing. Some of these products are Victoria Beckham outfit that is made from 97 percent of polyester and three percent of elastane. Zara Company also manufactures chiffon printed women tops, which are entirely made from polyester. The borders print tunic outfit is another product from Zara fashion Company in the UK that is made from 95 percent of polyester and five percent of...
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