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1、“How did Zara Capture the Chinese Market?”Marketing Management What is Marketing Management? Overview Zara Zaras Success: Its Business Model Marketing environment: China Marketing Environment Market Attractiveness Learning from Competitors: H&M and Esprit in China SWOT Analysis:Threats and Opportuni
2、ties Key Success Factors to enter the Market Strategic Recommendations Business, logistic and marketing strategyWhat is Marketing Management?Marketing management is theart and science of choosing target markets and getting, keeping, and growing customers throughcreating, delivering, and communicatin
3、gsuperior customer value.From choosing target markets and building profitable relationships with them? Questions to ask:1. What customers will we serve?What is our target market?2. How can we best serve these customers?What is our value proposition?Target MarketingMarket Segmentation:Divide the mark
4、et into segments of customersTarget Marketing:Select the segment to cultivateValue and SatisfactionExpectationPerformance108ExpectationPerformance810If performance is lower than expectations, satisfaction is low.If performance is higher than expectations, satisfaction is high. Business The worlds fa
5、stest growing fashion retailer of Spanish Brand Ranks among the three “global winners” with Gap and H&M Compelling mix of fashion, price and quality First store in 1975. Today 536 stores within 30 countries worldwide 199 openings in 2009 Financials Sales: 4.5 Bn in 2008 International sales 60% of to
6、tal turnoverBusiness ModelSupply Whereas most retailers designed 60% at start season, Zara designed 15% Dump unpopular product line Deliver fashion “when the customer desires” Twice a week delivery schedule Demand No advertising or promotions 10,000 new items at highly competitive priceSouth America
7、: 30 storesAfrica: 41 storesAsia - Oceania: 7 storesEurope: 407 storesNorth America: 47 storesAround the worldThe industry EnvironmentThe Natural Environment Free access to natural resources for textile clothingDemographic Structure 1.7 billion people 85.2% literacy rate Skilled labour available Eng
8、lish speakers ExistSocial Structure around 8 national languagesCountry of two speeds: urban vs. rural New middle class with purchasing Cultural shift in urban areasTechnology Easy access Financial benefitsChinese Economy GNP per capita $ 5890 GDP growth of 10.7% Industry/service economyGovernment &
9、Politics Deregulation of most sectors New textile policy Stable communist country Marketing Environment: China caseMarket attractiveness DemandIndustry Estimated GDP growth of 6-7% in fashion industry Undersupply for branded fashion productsTarget markets 30% potential customers for branded fashion
10、products 60% estimated for 2010 Supply Design World class design schools Production High innovation potential for manufacturingprocedures High productivity potential Cheap and skilled labour force High investment in technologyDistribution High investment in customer delight malls Learning from Compe
11、titors: H&M and Esprit in China Clothing, fragrances, sunglasses and home textile Introduced watches and accessory (departure from its global tradition) luxury brand High Prices Shopping mall and shopping aria Advertisement in the streets and in the metro stations Want to be known as a provider of q
12、uality ProductEsprit casual, formal and party wear three collections per year Brand extensions: bags, caps, sunglasses, wallets and fragrances Premium price Strong control on promotions International option at high quality / price ratio international format in major cities (large shopping malls) Foc
13、us on metros and modern cities Strong support on printed media (adapting to Chinese culture)H&MProductPricePlacePromotionSWOT analysis: Threats and Opportunities Huge untapped market Changing lifestyle and clothing preferences Demand outstrips supply! Cheap labour and opportunities for local sourcin
14、g High productivity potentialOpportunities Low entry barriers Customer bargaining power Unpredictability of consumer behaviour Product quality TraditionalismThreatsKey Success FactorsvValuevLatest fashion with Chinese touchvBest PricesvProduct qualityvVarietyvCost/SpeedvLocal sourcing of raw materia
15、lvVertical Integration of supply chainvFast time-to-customervMass customizationvLow process costsStrategic Recommendations to Capture the Chinese MarketBusiness StrategyGoal Fast growth in China How Implement Zara business model Introduce European supply chain system with fine tuning to suit the Chi
16、nese market Customise the marketing mixCOMPANYCOMPE-TITORCUSTOMERCOST/SPEEDVALUE/SPEEDVALUE /SPEEDLogistics Strategy Localise and implement just-in-time and quick response times to demand Modernising the supply chain with the use of information technology Forge strong relationships with value chain partners (suppliers and delivery co)Marketing StrategyProduct Introduce the occidental range of clothes for men and women Introduce a small section of Chinese clothes designed by upcoming Chinese desi
