Winning Marketing Strategies In The Fashion Industry: A Comparison Of Benetton, Burberry And Zara In Armenia. The current study intents to examine and understand the most effective marketing strategies employed in the fashion industry by three successful brands; Benetton, Burberry and Zara in the Armenian market. The fashion industry is growing at a high rate because of the need of customers to purchase high quality and fashionable products. Currently, people do not purchase clothes because they keep them warm but also to represent their statuses in the society.
The understanding of customer needs and requirements of global and local customers has resulted in production of high quality fashion products and intensive competition in the industry. The success of a company in the fashion industry, therefore lies in its marketing strategies.
1.2 Relevance of the Topic
Apparently, the original function of clothing is a kind of necessity that helps to keep our bodies warm. Human beings cannot live without the protection provided by clothes in adverse conditions and this signifies how important clothing is for us. Nowadays, in addition to the basic functions, people buy and wear clothes not just because it keeps them warm, but to express the status an individual has and to show their personal image.
For the reason it is necessary for human beings, shopping for clothes is one of the popular pastimes among people from all ages, different genders and cultural backgrounds (O’Cass 2000, p. 545). Fashion is a socio-cultural phenomenon, that at a given moment, expresses values of society – uses, habits and practices, it is actually a phenomenon of modern societies (Lipovetsky 1994, p. 43). Winning Marketing Strategies In The Fashion Industry: A Comparison Of Benetton, Burberry And Zara In Armenia.
Companies operating in the fashion industry compare in terms of marketing strategies. The study findings indicated that building a strong and reputable brand image was the most popular marketing strategy as it helped in increasing brand awareness. From this information it can be concluded that consumers purchase fashion products from companies they are aware and which they have much information about. This shows that, brand awareness is the most popular marketing strategy in the three brands.
Fashion consumers and customers are not highly sensitive to price because they are interested in high quality products regardless of their prices. Additionally, both managers in Zara indicated that they use effective supply chain as a marketing strategy. The others were one from both Benetton and Burberry. This indicated the winning marketing strategies (brand awareness and effective supply chain) used in the three brands are comparable. However, the study results indicated that Burberry, Benetton and Zara do not use low price as a marketing strategy in the market. Therefore, it can be concluded that pricing is the least winning marketing strategy employed by the three brands in influencing consumer buying behaviors and decisions. Winning Marketing Strategies.
The study results indicated that consumers are influenced in their buying behaviors and decisions by various factors such as psychological, social, cultural and personal factors. Marketing strategies are aimed at influencing consumers in line with these influencing factors. For instance, brand image influences consumers’ perception, attitudes and motivation (psychological factors) as they develop positive impressions in the minds of a particular brand. Marketing strategies such as effective supply chain helps in providing customers with the products they require at their convenience and providing adequate and relevant information about the products. This helps in influencing the cultural and social aspects whereby customers purchase products because they are available in their geographical regions. Winning Marketing Strategies.
From the study results, the following suggestions are offered:
- Marketers should clearly understand the consumer behaviors of their customers in the market in order to determine the best marketing strategy to employ a particular target market. Creating good and reputable brand image in the minds of fashion brand products consumers helps in increasing brand awarewness. Thus, companies in the fashion industry should struggle to brand awareness towards consumers and customers through advertising with a consistent theme. Winning Marketing Strategies.
- The marketing strategy used should able to attract as many customers as possible in the market. This is evaluated after understanding consumer buying behaviors and decisions.
- Fashion brands should ensure that they create positive impressions of their brands and products in the minds of their real and potential customers in order to attract and retain them.
- The three brands should develop effective supply chain in order to reach out as many customers as possible in the market. Customer satisfaction is increased if customers can access the products they require when they require them. Winning Marketing Strategies.
- It is crucial for a marketing specialist to find the answers for the questions when creating the perfect marketing strategy; he/she has to clarify the main influencing factors of consumer behavior.
- Taking into account the consumers’ behavior marketing specialists have to develop strong relations with customers. Winning Marketing Strategies.
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- Questionnaire Sample
I am a student of XXX studying MSc in Marketing Management. This questionnaire is designed to investigate consumer purchasing behaviour and decisions of Armenian fashion customers as well as winning marketing strategies in fashion industry. The study targets customers purchasing fashion clothes and accessories from Benetton, Zara and Burberry in Armenia.
- Demographic Information
- Please tick your gender
- Male b) Female
- Please tick the mark of your age group
|46 and above|
- Please tick the mark of your occupation
|Other, please specify|
- How often do you purchase fashion products
|Every 6 months|
- What is your favorite luxury fashion brand?
|Others, please specify|
- Factors Influencing Consumer Buying Behaviors and Decisions
Kindly rank the following from 1-5 (1 lowest and 5 highest)
|I consider quality as a priority when purchasing fashion brand products.|
|I am motivated to purchase fashion brand products by perceptions and attitudes towards them|
|I purchase fashion brand products to fit in high social status and class|
|I am influenced to purchase fashion brand products by reference groups, family members and relatives|
|My occupation encourages me to purchase fashion brand products|
|My income level allows me to purchase fashion brand products|
|My purchasing decisions towards fashion brand products is influenced by my religion and geographical region I am in|
- Winning Marketing Strategies in Fashion Industry
Kindly rank the following from 1-5 (1 lowest and 5 highest)
|What influence you to purchase fashion brand products in Armenia||Rank|
|The mental impression you have towards the brand|
|The pricing strategies used by the brand|
|Effective distribution strategies of the brand|
|Because I can recognize the brand in the market even in presence of other similar brands|
- Interview Sample
- Why do you think customers purchase fashion products from your brand
- What are the winning marketing strategies used by Armenian fashion companies?
- What are the marketing strategies used in your organization?
- Do you think these marketing strategies used in you organization influence the purchasing behaviors of customers