Write an essay about Jimmy Choo company.
This essay is about an organization founded by Jimmy Choo. This organization basically manufactures and supply products related to fashion like cloths, garments, shoes etc. This report analyses the current marketing situation of the organization in the market. PESTEL analysis of the organization measures the six important factors Political, environmental, social, technological, Legal and economic factors affecting the organization. MESO strategy, Porter’s value chain, SWOT analysis and Five forces are also analyzed in this essay about the organization.
Fashion industry is a sector which creates maximum amount of waste. The government is different laws related to waste management, thus the organization needs to focus on the recycling of waste (Wright, 2014). Plastic bags are being banned in almost all the countries as using cloth bags is very much costly for the organization.
Due to higher waste and high class machineries, fashion industry is a big source of global warming and pollution. People are getting aware about these dark factors and thus are becoming very much conscious about the environment. Government has increased the taxes and charges on the machineries and vehicles which emit carbon in heavy amount, thus its cost is also increasing.
According to a research, it is found that 59% of the customers like the organization which performs business ethically and 19% of the consumers strictly buy product from the organization which satisfy the ethical conditions of the consumers (Hollensen, 2015). According to the other research, it is found that the consumers are getting more attracted towards the green color as most of the celebrities are going green.
There is no limit of technology in today’s world. Machinery is available for each type of work in the market. People want fast service which is possible only by the use of machineries, thus it has become very important to adopt new technologies in the market. With the development of the new technologies, various new products like bamboo fabric, eucalyptus fabrics, oak tree fabrics, sasawashi fabrics has been developed in the market. In today’s world, without internet, marketing is not possible.
Various legal factors are working in the fashion industry. Due to evolution of easy consumer court, in most of the cases, decision goes in favor of consumers even when the fault is done by the consumer. Fashion industry has to legally follow the laws related to waste management. Copyright issues related to logo, and cloth designs are very much found in this industry.
Economic condition of the income of UK is very good. Most of the people are living above the poverty line. Average household income of UK is £26,000 per annum thus a high number of people are able to purchase the fashion products (Mullin, Hansely & Suttan, 2014).
The organization maintains a strong relationship with the suppliers. Managers of Tamara Mellon believe in the quality products. So, they only have those suppliers who provide quality services to them. In case of raw material, organization uses best quality material to develop clothes and fashion accessories. Organization stores limited stock, which means a proper strategy is being followed for the raw material storage to reduce the waste.
Operations in the Tamara Mallon start from the planning of product. Planning of product include the preparation of design of the product according to the current trends and requirement in the market, amount of product to be developed, raw material requirement, cost calculation and price setting. After the planning of product, raw material is ordered after analyzing the full stock. After receiving of the raw material, product is developed in the decided amount and which gets uploaded on the internet and sent to the stores through transportation.
For distributing the products, Tamara Mallon provides both store and online purchase facility, consumers can order the product online which are delivered at the customer’s house through their tied up courier agency (Lusch & Vargo, 2014). Consumers can also go to the stores and purchase the required product. For online purchasing consumers can only pay by internet sources.
For marketing of the product, Tamara Mallon is very much active on the social networking sites like Facebook, Twitter, YouTube etc. Organization also runs its own website on the internet on which it updates details about all the products with photos and prices. Organization provides both online and offline purchasing facility to its consumers.
As described above, Tamara Mallon believes in providing best quality services to its consumers. Organization provides the customer oriented services. It also possesses the easy return policy if the customer doesn’t like the provided products or don’t get the desired product. Organization also has easy to reach customer care facility to which customers can connect through phone call or emails (Bitner & Wang, 2014).
Tamara Mallon uses the MESO (Multiple equivalent Simultaneous offers) strategy to attract consumers in the market. Organization mainly focuses on the MESO strategy at the time of special occasions like New Year or Christmas. These strategies are developed and planned in each country globally, according to the special occasion of the country. Like in India, during Diwali, Holi and various other special occasions, MESO strategy is prepared by the organization. In UK, organization mainly focuses on these offers during Christmas and New Year. MESO offers by the organization, depends on the products. First it determines the needs and requirement of the organization and then develops proper planning about the offers that should be provided on specific products (Shank & Lyberger, 2014). These offers are mainly in terms of discounts or freebies according to the interest of the consumers.
SWOT analysis of the Tamara Mallon organization is as follows:
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Strengths |
Weaknesses |
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Tamara Mallon has strong history and heritage of brand. The brand had grown strong and rapid in the market. Authentically recognized as boot designing and production. Organization is recognized for its fashion shows (Wright, 2014). Wide range of freebies and offers. Successful collaboration with various famous brands. Successful collaboration with various fashion magazines. Successful and well known online store. Successful global expansion of the organization. |
Tamara Mallon has very less developed menswear collection. Provides very less products for gents. Due copyright issues, organization has lost its popularity in the market. Advertisement campaigns are very less. Very less sustainable range developed. Sales staff are not properly trained. Previous collaboration with the famous brands is not much promoted. |
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Opportunities |
Threats |
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Organization is trying to increasing its collection for menswear and developing new products for men. Increasing market share and market through integrated public relations promotional campaigns and strategies. Increasing bamboo range and repositioning brand as eco-friendly and sustainable. |
Competition in the ethical fashion in the market is increasing. There are various strong competitors in the market. Products have high prices due to quality. Thus, lower middle class people can’t afford the products of Tamara Mallon organization (Hollensen, 2015). |
As the policy of organization is considered, organization only uses quality material. If any organization compromises with the quality of the raw material, the organization breaks the relationship but the problem is that there are very few suppliers which provide such quality of raw materials. Hence, sometimes the organization need to pay high amount to them.
Organization do not compromise with the quality of the products, thus the prices of the products are high which reduces the number of customers of the organization (Challagalla, Murtha & Jaworski, 2014). Thus, the organization has decided to reduce the cost of the products to reach to as many number of customers as possible in the market.
In fashion industry, trends play a vital role. Each people want to buy its fashion accessories according to the modern trend and fashion trends changes very rapidly. Thus, any fashion industry needs substitution according to the current trends. But making substitution is very risky for the Tamara Mallon. A proper strategy and analysis of the current trends is very necessary.
Fashion industry is a platform where almost each consumer wants to try something new and most of the people start their business with fashion industry due to high number of customer and greater chances of success. Thus, this diverts the consumer to new entrants. Thus there is a high competition in the fashion industry.
With the high chances of success, this industry also possesses highest competitiveness in the market (Rushton, 2013). For being in this market, the organization needs to follow the current trends. This industry possesses special kind of the competition. Some competitors are followers and some are leaders. Leaders create trends and followers follow that trend.
Conclusion
Fashion industry possess a high competition in the market, thus it is necessary to have a proper marketing strategy for any fashion organization. The above discussed topics are the marketing basis. According to the above discussion it can be concluded that Tamara Mallon organization has great market position but for being a leader in this competitive market, organization needs to follow the modern trend and a proper marketing strategy.
References
Wright, L. (2014). Principles of service marketing and management.
Hollensen, S. (2015). Marketing management: A relationship approach. (3rd ed. ) London:Pearson Education
Mullin, B. J., Hardy, S., & Sutton, W. (2014). Sport Marketing (4th ed.) Canada: Human Kinetics.
Lusch, R. F., & Vargo, S. L. (2014). The service-dominant logic of marketing: Dialog, debate, and directions. London : Routledge.
Shank, M. D., & Lyberger, M. R. (2014). Sports marketing: A strategic perspective. London: Routledge.
Bitner, M. J., & Wang, H. S. (2014). 11 Service encounters in service marketing research. Handbook of service marketing research, 221.
Challagalla, G., Murtha, B. R., & Jaworski, B. (2014). Marketing Doctrine: A Principles-Based Approach to Guiding Marketing Decision Making in Firms.Journal of Marketing, 78(4), 4-20.
Rushton, K. (2013). Jimmy Choo founder Tamara Mellon puts boot into private equity. [online]. Available From: https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10340191/Jimmy-Choo-founder-Tamara-Mellon-puts-the-boot-into-private-equity.html [Accessed: 7th August 2015].
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