Evaluation of Strategic Marketing Models in Fashion Industry Essay

IntroductionFashion essentially involves change, defined as a succession of short-change 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 respective(a) and empirically complex. Therefore, analysis of process gravel of dodging specific attention should be paid in fashion industry. Since it is significant without any inquiry for a fashion caller-up to choose the proper role ensample to complement marketing strategy, evaluation of strategy process model could be essential. This essay attempts to evaluate Johnson & Scholes conventional model and hill & Jones model in fashion industry by analysing and comparing these two models via a few baptismal fonts of fashion companies. By virtue of make a case study of a listed partnership, Metersbonwe root word, 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 notwithstanding of certain limitations. military rank of Strategic Marketing Models in Fashion IndustryOverview of ModelsExploring collective outline 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 an new(prenominal) process realistically for these three processes are interrelated and interconnectedin circles. In Exploring Corporate outline model, according to the Johnson and Scholes (1999), strategic position means that strategic analysis and understanding of the impact on strategy of the external surroundings, an organisations strength (res ources andcompetences) and the expectations and influence of stakeholders, which lays the foundation of the rising strategies. In the strategy creation and choice part, there are several strategic creams available for manager making a reasonable decision to choose congruent methods. Next, the strategy implementation involves the ensuring that chosen strategies are actually put into action.Strategic Planning Process model(Hill and Jones, 2004)Evaluation of Strategic Marketing Models in Fashion IndustryThe figure shows that there are five major processes of the Hill and Jones model selecting the corporate mission and goals analyzing the presidential terms external militant environment to identify opportunities and threats analyzing the plaques privileged operating environment to identify the organizations strengths and weaknesses Selecting strategies that build on the organizations strengths and correct its weaknesses in order to take advantage of external opportunities and coun ter external threats, which should be consistent with the mission and major goals of the organization implementing the strategies (Hill and Jones, 2004).Analysis of Comparison and EvaluationFrom the description of the processes of two models, it could be found that there is a difference in process between Johnson and Scholes model and Hill and Jones model. In this part, evaluation would be concluded by case analysis. In Johnson and Scholes model, they prefer to analyses the impact on strategy of the external environment, external elements (resources and competences) and the expectations and influence of stakeholders soonerchoosing a congruent strategy between several options. Take Metersbonwe Group as an example, the company, which was created by President and Founder, Zhou Chenjian in Wenzhou, Zhejiang, in 1995, is a listed company specialized in casual wear apparel objecting, manufacturing and retailing,playing its role as a leading casualwear apparel company (Shiwei and Hengjin g, 2011). It had achieved great success in past several years. To extend their business, Metersbonwe had a new strategy to imitate the fashion model, which was initiated by Zara.In the market process, the company made an analysis of it home(a) and external environment. However, they had an imprecise market prediction of fashion trend, which made the companys sales not as expected thus increasing companys scrutinise in the dynamic market. According to China Scope Financial (2011), as of September 30, 2011, Metersbonwes inventory value was CNY 2.98 billion, 83% of its sugar asset and although Metersbonwes cash flow in the third quarter of 2011 became positive for the first time since the third quarter of 2010, the growth of its income and profit has slowed down. atomic number 53 of the main characters of Zaras fast fashion model is that in the rapid supply chain maintaining low inventories of this model is the basis for profit (Maolijief, 2012).On contrary, the Metersbonwe had att ached a fatal error in their process of strategy choice, declining inventory rate and slowing operation time many times. In fashion industry, spirited inventory each retention day means devaluation (Maolijief, 2012). In addition, on account of the management of the Metersbonwe, the positioning issues were all important for Metersbonwe when it is confronted with the high inventory crisis and slide down of their brand image. The external environment offered the threat and ever-growing competition from other brand such as Semir. Its strong Apparel brand and existing consumer group were winder advantages fordefending its position. In the dynamic market, especially in the fashion market, which is undergoing a myriad of changes in the twinkling of an eye,if the company made an inappropriate strategic option and could not change to cope with the unpredictable situation in their process of strategy, they would turn from a success into a failure while process of strategy planning is essen tial. In contrast, in Hill and Jones model, analysis of organizations external competitive environment and the organizations internal operating environment are followed by a clear mission.The UK fashion brand Burberry will suffice to illustrate this point. Burberry started a new strategy after appointing Rosie Marie Bravo in 1997 as chief executive, which has made Burberry from boom. In the new strategy, Rosie Marie Bravo (CEO) set a mission to reposition the Burberrys brand by selecting the corporate mission and goals, which could be regarded as the first step of Hill and Jones model. Burberrys goals were to rebuilt Burberry brand image, to keep the traditional consumer base as well as attract a new, more fashion forward client base by regaining control over distribution and taking back the power over number and product development. In the process of analyzing the companys external competitive environment, Burberry made a decision of opening a flagship store on overbold Bond Stre et in London, competing with stores such as Gucci, Versace, Prada and Chanel by placing itself on the level of these luxury fashion brands.Besides, Burberrys fashion shows in Milan, as other luxury fashion brands usually do, was a congruent approach to draw the fashion medias attention and to enjoy mediacoverage, thus empower itself highly competitive in international fashion market. The next process after selecting the mission was analyzing the internal situation such as their pin up scope of customers and lacking of compulsory design and product distribution, then Burberry made a strategy to establish six new brand levels under his direction and incorporated several ersatz fashion directions previously ignored thus leading Burberry to attract majority of the potential consumers. With these new brands extending their range varying from traditional menswear to womenswear, childrens apparel, and accessories, Burberry could cope with their weaknesses of narrow scope of customers to achieve their mission.Inaddition, Burberry made a plan to renegotiate with these foreign companies that the licenses previously endorsed. In this way, Burberry enabled itself to overcome companys internal design and distribution disadvantages. In the fourth steps, Burberry took a new strategy in three aspects, according to the companys mission and analysis of both internal and external situation to turnaround Burberry plenty of approaches to marketing and rebranding controlling product design and manufacture changing distribution policy. After the implementation of the new strategy, Burberry achieved long improvement in its financial performance, showing a profit increase of 630 per cent between the years of 2000 and 2003 and constructing itself as a fashion luxury brand. The Burberry case demonstrates the characters and significance of every process in Hill and Jones model.Although, Hill and Jones model has its limitations as well as merits, just as Katja Kanngiesser (2004) point ed out that traditional strategy process paid much attention on analysis, reason and period of stability and presume that based on their analysis they could make reliable future prediction. Hill and Jones (2004) admitted that valuable strategies often emerge from deep within the organization without previous planning. Furthermore, other researchers hold the opinion that the real world is unpredictable and they doubt the role that lower-level managers could play in the management process (Gavetti, Levinthal, and Rivkin)ConclusionThis essay presents two generalizable model of firm strategy in the fashion market and illustrates model with two cases. From the analysis of two kinds of strategy process model in company cases, it could be concluded that Hill and Jones model has an advantage over Johnson and Scholes model by virtue of analysing of Metersbonwe and Burberry while Johnson and Scholes model and Hill and Jones model have many similarities in the process of strategy model. Both J ohnson and Scholes model and Hill and Jones model have its limitations as well as merits.BibliographyAndrew, M. Pettigrew. (1992), The Character and Significance of system 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 ofRetail & Distribution Management, Vol. 32 Issue 8 pp. 412 422 Emerald Group Publishing Limited. 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