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24.12.2020 18:06
Olymp s Marketing Strategy

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2.1 The Four Broad Partnerships of Relationship Marketing. The manager reports customers suggestions and requests products based on their shopping behavior, which allow an instant reaction to changing consumer demands. Theoretical frameworks.1 The Four Broad Partnerships of Relationship Marketing.2 The 30Rs of Relationship Marketing. Here, you have the opportunity to face a great number of occasional customers. In line with the previous, Kotler (2011) delineates relationship marketing as having multifarious relationships with marketing partners. Todays consumers can spot a fake endorsement in one glance. In Spain they started a, so called, long domestic market penetration, by opening 82 stores throughout the years.8. An authentic brand story helps to distinguish a brand from its competitors and brings the brand to life (van de Wiel, 2009). These four partnerships are: - External partnerships with competitors, alliances and governments - Internal partnerships with employees, functional departments and internal business units - Supplier partnerships with goods suppliers and service suppliers - Customer partnerships with intermediate customers and final customers.

The Relationship Marketing of Nike - grin

On the other hand, Nike constantly released new products. Similar level of purchasing power, comparable consumer structure. This used to be different but the firm learned from its own experience that it is better to recruit employees locally to gain better understanding of local market preferences. The employment of management positions is beyond passport. The companys target is to sell global fashion for everybody, so the designers and managers try to keep up with the high fashion brands and trends and place them on the market as soon as possible at affordable prices, instead. Franchising is a type of license where a party acquires to allow them to have access to a franchisers proprietary knowledge, processes and trademarks in order to allow the party to sell a product or provide a service under the businesses' name. Ende der Leseprobe aus 19 Seiten  - nach oben eBook fr nur 14,99 Sofort herunterladen. New designs can be placed into stores within a week or two as a result of a fast fashion concept and manufacturing in Europe. According to m, a Nike head is a person that is very much dedicated to wearing Nike sneaker (m, 2012). Important is the implication of multi establishment retailing.

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Customer Relationships (R1) The relationship between an organization and its customers is categorized as one of the three classic market relationships described by Gummesson. Nike uses a mix of relationship and relationship marketing. 231.4.2 Timing, in terms of timing Zara is tamed a follower, because of its long period of domestic market penetration (as said.1.). Figure 2 Subdivision of market entry forms Source: Schmid, Strategien der Internationalisierung, 2013,. Only 10-15 of the collection is different in some countries.

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Relationship marketing is most qualified for high involvement products (Godson, 2011). Its brands include Zara, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Zara Home. Im eBook lesen, marketing Case Studies SS 2010, case Studv Olvmp. The most important stakeholder for most businesses is the customer. In some countries, it was difficult to acquire retail outlet property, in others there where obstacles with local companies. It adopts an in-depth case approach based on extensive secondary research.

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The classic market relationships and the special market relationships represent market relationships mainly with an organizations customers; suppliers and competitors. Instead of merely focusing their marketing activities on the acquisition of new customers, companies need to balance between customer retention and acquisition (Godson, 2011). Nike as a global brand is in the maturity phase of the product life cycle. The involvement with clothing is dependent on the degree to which the costumer uses clothing as a means of self-expression (Michaelidou, 2006). This added customer value can occur in the form of more trust to a company, a more customized service, a personal touch and the possibility to better answer customers expectations. Zara has a highly vertical integrated management system (see.5) in which every part of the supply chain is owned by the company, which adds greater complexity to the production and management process. A high level of customer service and commitment to meet the expectations of customers are also distinctive features of relationship marketing (Payne, 1995). The table below differentiates between the different types of Nike customers by applying the ladder of loyalty.

Internationalization Strategy of Fashion

The importance of the particular relationships varies between organizations and specific situations (Gummesson, 2008). Godson (2011) points out that the main aim of relationship marketing is the development and maintenance of long term relationships with all stakeholders of a business. In addition, a high level of coordination is a big factor. Olymp should concentrate on three main goals and objectives: First of all, they have to try to increase Market share and growth; the company is very successful in doing this, but there is still a lot of potential in this area. And finally Olymp has to improve its awareness level. Zara was founded in 1975, it became the flagship of Inditex. New products are by nature in the introduction phase of the product life cycle.

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Schmid, Strategien der Internationalisierung, 2013,. For Nike, the classic market relationship relationships to customers and supplier and the mega respectively external relationships are the most crucial. This statement underlines Nikes relationship marketing orientation. Number of SKUs (Stock Keeping Units, meaning a product, or a particular size or model of a product, that a company has available for sale considered as a single unit.2 Those companies need a range of sizes. It can be assumed that Zara is a geocentric orientated company because of the companys complexity and high mutual dependence. This is followed by the main part, which examines the key aspects in the internationalization of Zara, namely: chronological and geographical sequence, role of culture, eprg scheme, entry strategies, timing and allocation, imgt model and the form of organization. Therefore the retailers need to secure the best location, because the store location and atmosphere conveys brand image.

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Zara was founded by Amancio Ortega Gaona in 1963 and is headquartered in A Coruna, Spain.5 Today Zara stores are located on every continent, with.213 stores in 93 countries.6 In addition to that Zara also sells their products in 39 online markets. Transaction marketing focuses on a single sale instead of generating repeated sales. The company is a world leading retailer but still assures that the production is based in Spain, or countries nearby and also makes sure that the prices remain the lowest on the local market. The management and development process of fashion and retail products is different to other management processes, as the focus is on characteristics of the fashion industry1. The company Zara is one of the biggest fashion retailers worldwide. Within this period Zara only added one to two stores each year to its portfolio. Ende der Leseprobe aus 4 Seiten  - nach oben eBook fr nur 3,99, sofort herunterladen. May be customized to local needs.4.2 zara: A short company overview.

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Table 1 Competitors 2 The Internationalization Process of zara.1 Chronological and Geographical Sequence, it took Zara 13 years from the inception of the firm to the first foreign expansion. At this level, relationship marketing aiming at customer retention and loyalty is most suitable. The majority of Nikes customers are considered to be on the customer, client and supporter stage but Nike has customers on all stages of the ladder. As a recommended strategy I would implement Market penetration. Im eBook lesen, table OF content 1 Introduction.1 The Global Fashion and Retail Industry.2 zara: A short company overview 2 The Internationalization Process of zara.1 Chronological and Geographical Sequence.2 Role of Culture in the Internationalization. Gummesson (2008) defines relationship marketing as marketing that is based on interactions within networks of relationships. In comparison Zara is the brand with the highest brand value, H M has the highest revenue and Mango is distributing in most countries. Relationship Marketing could be difficult to apply for low-risk, low involvement products, since in that area a relationship with the supplier can often hardly add a value to the customer.

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Hence, a companys profitability and its ability to retain customers are positively linked (Reichheld, 1996). Fig.1: company background, co-founder and chairman Phil Knight delineates Nike as a marketing orientated company and states that marketing their products is the companys core competency (Willigan, 1992). According to the distribution channel, Olymp should stick to its strategy to extend exports and to deepen the relationships to its retail partners abroad, because there is a huge growth potential for the enterprise in the European, African, Middle Eastern and Chinese market. Arbeit zitieren Nina Leidiger (Autor), 2017, Internationalization Strategy of Fashion Retailer zara, Mnchen, Page:Imprint: grinverlagOHG, /document/393049 Kommentare Hausarbeiten hochladen Ihre Hausarbeit / Abschlussarbeit: - Publikation als eBook und Buch - Hohes Honorar auf die Verkufe -. External Relationships (Mega Relationships).1 Corporate Social Responsibility.2 Celebrity Endorsement.3 Mass Media Relationships (R23). Customer Relationships (R1).1 Ladder of Loyalty.2 Knowledge Relationship (R21).3 Electronic Relationships (R12).4.1 Viral Marketing.

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Zara shows that its possible to create a global brand without trying to please every culture in every country. For a globally operating B to C organization such as Nike, pseudo- personal relationships are an efficient way to manage customer relations at reasonable costs. According to Gummesson (2008 the relationship between customers and supplier form the foundation of commercial exchange. Demand unpredictability, which makes stock and supply management in fashion industry, complex and challenging. According to the four broad partnerships of relationship marketing model, there are four partnerships of an organization that form an important part of relationship marketing. For example, Germany was entered in a joint venture with Otto Versand.20 Zaras last form to enter a market is with a franchise store.

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Instead the designers try to create a collection of products which can be sold at different climatic time interval.13. Theoretical frameworks, the examination of Nikes relationship marketing activities is based two theoretical frameworks. Additionally transaction marketing is focused on the product features, happens on a short time scale, neglects customer service (Payne, 1995) and is indirect, impersonal and a one way communication (Gummesson, 2008). When applying Relationship Marketing it is important to add value for the customer, otherwise he would not have a reason to enter a relationship with an organization. Truly loyal customers are less price sensitive, more likely to give referrals and more responsive to promotion communication campaigns (Godson, 2009). Illustration not visible in this excerpt Fig.2: Nike and a selection of the 30Rs. The Marketing strategy of the shirt manufacturer Olymp - Bezner KG has been performed successfully for many years; nevertheless there is always room for improvement and further development. The mega relationships and nano relationships comprise non- market relationships that have in indirect effect on the efficiency of the market relationships.

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