Saturday, August 24, 2019

Formal Business Report Essay Example | Topics and Well Written Essays - 1500 words

Formal Business Report - Essay Example imarily taken as benchmark because it is one of the biggest success stories within the fashion industries that have been able to retain its competitive edge even in the tough economic conditions. The firm, ABCD Fashions is recommended to follow the model of Zara and expand its operations globally, especially in emerging economies like India, China. The consultancy report is prepared by the Marketing Manager for the Board members of UK based fashion retailer, ABCD, on the potential of expanding the business across the globe. The major purpose is to recommend the best way to proceed over the next three years in the current competitive business environment. ABCD Fashion is a high-end UK garment retailer which is facing huge competition from domestic and foreign apparel houses. While Primark and Tesco attract customers with their low cost fashion garments, Mark & Spencer, Zara etc. offer a wide range of high-end garments which become very attractive for customers during discount seasons. Today, contemporary fashion is more influenced by the changing socio-cultural paradigms of rapid globalisation and the myriad channels of communication such as the Internet, international magazines, TV etc. have evolved as crucial tools that facilitate greater awareness regarding the changing fashion trend across the customers. Moreover, lack of variety in fashion clothing, problems of cultural biases faced by retailers and the recessive trend in the economy have significantly impacted the performance of the firm and the industry in general. The company therefore, needs to evolve innovative strategy and creative input within its operations to identify a nd exploit new opportunities of growth. Another similar business, Zara, a member of the Inditex group of Spain, was studied and used to compare and contrast the business imperatives vis-Ã  -vis Strategic orientation towards product-market development; competitive strategy pursued; product innovation; technological innovation; and

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