Marketing Planning ZARA
Course code/Class: 21905F/3D Group members: Chan Oi Yee (3) Chan Wing Sum (4) Cheng Jacqualine Wing Chun (5) Chiu Ka Man (9) Fong Ka Man (13) Leung Hoi Yi (22) Lecturer: Ms Cherry Tsui
INTRODUCTION EXCECUTIVE SUMMARY SITUATION ANALYSIS (PEST) SITUATION ANALYSIS (SWOT) SITUATION ANALYSIS (5 FORCES) OBJECTIVES (SHORT TERM) OBJECTIVES (LONG TERM) OBJECTIVES (PULLBACKS) TARGET MARKET MARKETING STRATEGIES FINANCIAL PLANNING IMPLEMENTAION CONTROL REFERENCE
First of all, we want to clearly point out and define what is marketing planning. It is the structured process of researching and analyzing the current situation, developing and documenting marketing objectives, strategies, and action plans; and implementing, evaluating, and controlling activities to achieve the objectives. And hence, these all will be covered in this Marketing Plan specifically for ZARA.
Marketing plan is extremely important and useful to marketers. This allows ZARA to identify and evaluate opportunities that might lead to achieve overall goals and also emerging the threats.
‘Dress the World’ is ZARA. Fashion is more than clothing, it’s a part of our live. We live in Fashion.
ZARA is a member of the INDITEX group, a Spanish group. We have established our stores all over the world, Europe, America, the Middle East, Asia Pacific. And among our 5000+ stores (from the INDITEX group), Hong Kong shares 8 ZARA stores from the whole wide world.
The INDITEX group is very competitive in the clothing industry. And among all, ZARA was the first to established, both from the group and in Hong Kong. With no doubt, ZARA is trendy and price for its qualities. It is a huge success launching in Hong Kong.
For this fast and ever-growing industry, the key of success is to be visionary, from both fashion and business point of view. Apart from increasing branches in Hong Kong within the year, we are also planning to launch ZARA Home in Hong Kong, which is the first ZARA Home outside Europe.
In the Marketing Plan, we are going to analyze the external, internal and competitive situation of ZARA. So that we could review our current and reveal our future opportunities; plan our marketing strategies; budget and at the end, to have an accurate implementation plan.
SITUATION ANALYSIS External Analysis - PEST
Trends Positive Factor customers as are China allows Negative Factor 1. Minimum Wage has
Political-Legal 1. Target
increased the operational cost of ZARA
citizen to travel in HK 2. Hong Kong is a tax free city, therefore, travelers from all around the world is interested to buy
clothes from Hong Kong. 3. The subsidies of
6000HKD to Hong Kong people have motivated the Hong Kong people to purchase
1. Hong Kong Dollars are going weak against other currency, travellers are willing to spend more 2. Hong Kong ties with US Dollars and rank #1 in the World Competitiveness
1. Rent expenses is very high due to the rapid economic growth in Hong Kong
compare to most of the other cities, operation cost will raise for ZARA
Scoreboard in 2011
1. People in Hong Kong care 1. Clothing style in Hong Kong about their outlook a lot, they are willing to spend money on clothing. 2. Hong Kong people widely accept different clothing is too versatile. For example, Japanese, Korean,
Bohemians, therefore, there are a lot of competition in clothing style.
styles, whenever it is in the 2. Although the population rate trend. in Hong Kong is very high, there are a lot of different races in Hong Kong. For example, Chinese, Hong Indians Kong, and
Caucasian. Therefore, it is quite hard to customize our style to a specific race.