Zara Marketing Strategy
Zara is the lead association of Inditex group, drove by its co- founder, Amancio Ortega with his ex-wife, currently Europe’s richest man, with net worth of $67 billion.
Zara is a popular Spanish clothing brand that uses a bespoke marketing strategy (i.e. high levels of customisation) based on the customer’s needs and requirements to achieve its business goals. Consequently, Zara has become Spain’s and the worlds well known fashion brand.
2. NATURE OF THE PRODUCT, ZARA CLOTHING:
The rapid change in the global technological world, clothing and fashion wear is the most defining nature of the apparel business. Zara, in particular offers the latest trends in international fashion in an environment of thought-out design. …show more content…
Its unique selling preposition is to create the latest trends. In most cases, the new styles are normally available in the sales stores within two weeks, three weeks maximum. If a product is not selling in the stores, it is immediately pulled from the stores.
With respect to the Maslow’s hierarchy of needs, Zara’s place is in the Safety and Security category. It is classified as a fast retailer due to its point on trends and consistent rotation of styles and products. Zara's target market of young men and women who are most likely to be young adults starting out in their life chosen careers, who are attempting to actualise their level of self esteem on Maslow’s hierarchy of …show more content…
Clothes are produced at a competitive price with the most innovative and fashionable designs
8. Zara offers extremely trendy, well designed and fast delivery of new products
9. Apart from clothes, Zara also offers handbags, shoes and variety of other accessories
10. Zara is a very strong brand. This has enabled it to charge moderate to premium price as its customers place high value the quality which is reflected by brand
11. High investments in R & D and Superior technology has allowed Zara to better meet the needs of their customers in unique ways that rivals cannot simulate
Challenges 1. Limited marketing and advertising as compared to some other brands
2. Zara's in-store advertisement model may not work going forward
Opportunities 1. There are more global markets which Zara can explore
2. They can also enter into segments and expand those areas where they haven’t
3. Online marketing and ecommerce can be more tapped by Zara
Threats 1. Economic downturn may slow down its growth
2. The high end fashion merchandisers can be a major threat to them
3. Large number of options available to customers for switching over the brand
4. Fierce Competition and no Collaboration with International