Evaluation of Strategic Marketing Models in Fashion Industry
Evaluation of Strategic Marketing Models in Fashion Industry
Evaluation of Strategic Marketing Models in Fashion Industry
IFR: YINGFAN TAO
ID Number: 84461601
Evaluation of Strategic Marketing Models in Fashion Industry
Introduction
Fashion essentially involves change, defined as a succession of short term trends or fad and the very nature of fashion, where change is intrinsic, gives different emphasis to marketing activities (Eeasey, 1994). Furthermore, process research, according to Pettigrew (1992), in strategic management is paradigmatically diverse and empirically complex. Therefore, analysis of process model of strategy specific attention should be paid in fashion industry. Since it is significant without any doubt for a fashion company to choose the proper model to complement marketing strategy, evaluation of strategy process model could be essential. This essay attempts to evaluate Johnson & Scholes’ traditional model and Hill & Jones’ model in fashion industry by analysing and comparing these two models via a few cases of fashion companies. By virtue of making a case study of a listed company, Metersbonwe Group, analyzing its strategy it could have an evaluation of Johnson & Scholes’ traditional model while the “Bravo” of Burberry would illustrate advantages of Hill & Jones’ model despite of certain limitations.
Evaluation of Strategic Marketing Models in Fashion Industry
Overview of Models
●Exploring Corporate Strategy model
(Johnson and Scholes, 1999) The exhibit above indicates the three main processes in a linear sequence: understanding the strategic position; strategic choice; turning strategy into action (Johnson and Scholes, 1999). Johnson and Scholes (1999) pointed that each process is supposed to be regarded as closely associated, and none has priority over another process realistically for these three processes are interrelated and interconnected in circles. In Exploring Corporate Strategy model, according to the Johnson
Evaluation of Strategic Marketing Models in Fashion Industry
IFR: YINGFAN TAO
ID Number: 84461601
Evaluation of Strategic Marketing Models in Fashion Industry
Introduction
Fashion essentially involves change, defined as a succession of short term trends or fad and the very nature of fashion, where change is intrinsic, gives different emphasis to marketing activities (Eeasey, 1994). Furthermore, process research, according to Pettigrew (1992), in strategic management is paradigmatically diverse and empirically complex. Therefore, analysis of process model of strategy specific attention should be paid in fashion industry. Since it is significant without any doubt for a fashion company to choose the proper model to complement marketing strategy, evaluation of strategy process model could be essential. This essay attempts to evaluate Johnson & Scholes’ traditional model and Hill & Jones’ model in fashion industry by analysing and comparing these two models via a few cases of fashion companies. By virtue of making a case study of a listed company, Metersbonwe Group, analyzing its strategy it could have an evaluation of Johnson & Scholes’ traditional model while the “Bravo” of Burberry would illustrate advantages of Hill & Jones’ model despite of certain limitations.
Evaluation of Strategic Marketing Models in Fashion Industry
Overview of Models
●Exploring Corporate Strategy model
(Johnson and Scholes, 1999) The exhibit above indicates the three main processes in a linear sequence: understanding the strategic position; strategic choice; turning strategy into action (Johnson and Scholes, 1999). Johnson and Scholes (1999) pointed that each process is supposed to be regarded as closely associated, and none has priority over another process realistically for these three processes are interrelated and interconnected in circles. In Exploring Corporate Strategy model, according to the Johnson
Bibliography: Andrew, M. Pettigrew. (1992), The Character and Significance of Strategy Process Research. Strategic Management Journal, Vol. 13, Special Issue: Fundamental Themes in Strategy Process Research (Winter, 1992), pp.5-16 Christopher M. Moore, Birtwistle G. (2004), The Burberry business model: creating an international luxury fashion brand, International Journal of Retail & Distribution Management, Vol. 32 Issue: 8 pp. 412 – 422 Emerald Group Publishing Limited. (2005),"Bravo" for Burberry: From bust to boom - creating a luxury fashion brand, Strategic Direction, Vol. 21 Issue: 1 pp. 22 – 24 Eeasey, M. (2009) Fashion Marketing, Oxford: Wiley Blackwell G. Gavetti, D. Levinthal, and J. W. Rivkin. (2005), Strategy Making in Novel and Complex Worlds: The Power of Analogy, Strategic Management Journal, Vol. 26: pp.691–712. Hill, C. & Jones, G. (2004) Strategic Management Theory, New York: Houghton Mifflin. Johnson G. & Scholes K. (1999) Exploring Corporate Strategy, Hemel Hempstead: Prentice Hall. Kanngiesser, K (2006) The Strategy Process in Dynamic Markets. Diploma Thesis, European Business School Evaluation of Strategic Marketing Models in Fashion Industry Shiwei X, Hengjing L. (2011), Constructing core competencies of virtual enterprise with information technology a case study of Metersbonwe Fashion & Accessories Co., Ltd. Business Management and Electronic Information (BMEI), 2011 International Conference on 13-15 May 2011, Vol. 1: pp.456–459. China Scope Financial, (2011). Metersbonwe Faces High Inventory Pressure. [online] Available at: http://www.chinascopefinancial.com/news/post/1736.html [Accessed 27 December 2011]. Maolijief, (2012). Metersbonwe brand clothing high inventory problem analysis. [online] Available at: http://mens-clothes-online.tm96.net/20120724/metersbonwe-brand-clothin g-high-inventory-problem-analysis-2.html [Accessed 24 July 2011].