Global Fashion Industry & Business Assignment Sample

Global Fashion Industry & Business

Introduction - Global Fashion Industry & Business

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The main purpose of this report is to analyze the key problems and issues the organization is facing. It also aims at and delivers analyses of the market, customers, and competitors for developing effective strategies to deal with the challenges and problems. For analyzing the issues and problems the sword and PESTLE analysis will be done.

Market overview

SWOT analysis

Strengths	Weaknesses
The strength of the company involved in the driving innovation process with the help of the ASICS Institute of sports science which aims to create innovative and unique products which have high added value. The institute has produced many path-breaking and unique innovations (ASICS Asia Pte. Ltd, 2022). Another strong point of the company is that it has a huge and robust connection and relationship with various stakeholders of the company. The company also has a more robust International presence in the developed markets.	The weakness of the company is in the transformation of the apparel and fashion business into a profitably growing organization (ASICS Asia Pte. Ltd, 2022). The company is popular for its issues and sportswear. As the company is trying to develop its product portfolio with the inclusion of fitness and accessories it can lead to words brand dilution (ASICS Asia Pte. Ltd, 2022).
Opportunities	Threats
Expanding the market in India can help the company in increasing the economics of scale and also its brand value (ASICS Asia Pte. Ltd, 2022). Digitization and innovative product development can also increase the competitive advantage of ASICS (ASICS Asia Pte. Ltd, 2022).	Threats of the company are included in the risks which are associated with large-scale natural calamities. Counterfeit products may also provide a user threat to the company by damaging the brand value and decreasing revenue. There is huge competition in the fashion industry which also provides similar services to ASICS (ASICS Asia Pte. Ltd, 2022).

PESTLE analysis

Political factors

Government rules, regulations, business tax rates, and tariffs all have a huge impact on the growth and development of the company (Nandonde, 2019). For expanding in India, the company can face issues related to government rules and regulations. As per the covid-19 pandemic situation, the government rules have been changed in different countries. These changes need to be addressed.

Economic factors

The economic factors are also very significant as depending on the income rate, per capita income, economic growth of India, the company needs to set the prices of the products (Nandonde, 2019). The covid-19 pandemic situation has brought a useful initial loss to the company.

Social factors

The main social factors that have a huge impact on organizational growth and development include the attitudes and behavior of people in the various cultural region of the world. The level of immigration and immigration policies, rules and regulations of the society of different countries, and social concerns and awareness in different countries also impact the organizational operations and functions (Nandonde, 2019). Depending on these factors the company needs to set its price and policies. The product quality is also changed as per the societal norms and regulations and attitudes of people.

Technological factors

Technology is also another area in which organizational growth and development depend. Using social media platforms and mobile phones the company can provide its products and services to the customers online (Nandonde, 2019). The feedback and comments of the customers help the marketing managers of ASICS their prices and improve the quality of the products.

Legal factors

Consumer Protection law, environmental law, and labor law are all these legal obligations that need to be maintained in the company (Nandonde, 2019).

Environmental factors

The environmental regulation act needs to be maintained. The company can also implement corporate social responsibility for increasing its brand (Nandonde, 2019). Due to the growing concern about environmental health and sustainability, the company needs to protect the environment by implementing the environmental policy of the different countries.

Competitor analysis

Key competitors

The main topmost rival companies of ASICS are Nike, Adidas, Under Armour, Reebok, and Fila (ASICS Asia Pte. Ltd, 2022). These companies operate in the Indian as well as global market. They also provide good quality sports-related products to the customers and this is why they use competition in the marketplace.

Competitor mapping

Competitor mapping is a tool used for analyzing the competitors of an organization. The managers of ASICS can also use a competitor pink tool for identifying the competitors and their strengths. It, therefore, helps in providing the best quality services using proper strategies. Using this map ASICS can identify the most significant and crucial areas in the market competition. It will thereby help in generating a strong product that can provide better quality (Emeagwal and Ogbonmwan, 2018). It can also improve its market share and efforts with the help of this computer mapping system.

Target market

The target market of the company is the people or adults or individuals who have an interest in quality-based athletic footwear.

Price/product comparison

The prices of the products of the competitors of ASICS are high.

The quality of the products of different competitors like Nike, Adidas our high quality based and also kind of sports shoes are developed by these competitors. ASICS can develop unique and innovative products that can compete with rival companies (ASICS Asia Pte. Ltd, 2022)

Consumer analysis

The target segment of the company includes upper-middle-class middle-class adults and youth who have an interest in sports and can afford sneakers with the price of 150 to 300 dollars. This product is not included in athletic footwear but is being appealed to the people who seek high-performance sneakers (Camilleri, 2018). The segmentation of the company also focuses on the consumers who seek stylish athletic shoes and footwear. 

Primary and secondary target market

The primary target market of the company includes consumers who are directly associated with sports and have an interest in fitness. Young people, adults, and sportspersons are the primary target (Camilleri, 2018). The secondary target of the company includes married men and women, and office goers. In the demographic context, the company targets customers of all ages including adults and young people who have an interest in sportswear (ASICS Asia Pte. Ltd, 2022). In the psychographic context, the main target of the company is the people who want to stay fit and regularly do exercise. Sportswear is extremely required for these people (Camilleri, 2018).

Methodology

The information and data have been collected in the primary data collection method using surveys. Qualitative data analysis is the main part of analyzing the data collected from the survey. A nonprobability sampling method has been used for the research methodology.

Product mix

ASICS delivers sports shoes and sneakers for athletics. High quality-based sneakers and sports shoes are delivered by ASICS to the customers (ASICS Asia Pte. Ltd, 2022).

Marketing mix

Products

The products are mainly sports shoes and sneakers (ASICS Asia Pte. Ltd, 2022).

Price

The price of the sneakers range from 150 to 300 dollars (ASICS Asia Pte. Ltd, 2022).

Place

The company will deliver the sneakers via its online stores. The physical stores are also available to deliver the products (ASICS Asia Pte. Ltd, 2022).

Promotion

 Social media marketing, advertising through broadcast television will be the main promotional areas of the company Niazi, Rashid, and Shamugia, 2021). The company will also include the various celebrity personalities for its promotional activities.

Communication channels

The main communication channels used by ASICS include social media platforms like Facebook, Twitter, Instagram. Direct marketing and sales promotion are also other communication channels.

Launch plan

The marketing managers of ASICS social media and advertising campaigns of the products for 1 month.

Different product-related sports will be on social media platforms to attract customers. Broadcast and television and radio will be also included in the campaign for the launching of the products.

Recommendation

Therefore, it can be recommended that to deal with the issues of huge competitive challenge and emergence of the different rival companies,

• ASICS needs to develop more innovative and unique sports shoes.
• The price can also be reduced for attracting customers.
• Quality improvement is also another factor to deal with the competitive challenge in the marketplace.

Conclusion

Therefore, it can be concluded that the competition at the marketplace may be dealt with proper strategies. New product development is important for meeting the competitive structure of the market. The company has a huge potential to develop and grow in the existing and new market. With the best quality products and cost-effectiveness the company can attract satisfaction from the customers it will help the company develop in the new market. The various external factors can impact the growth and development of the company in the new market. With effective strategies the leaders of ASICS can overcome the computer challenges due to the emergence of competitors.

References

 ASICS Asia Pte. Ltd, 2022. ASICS India | Official Running Shoes & Clothing. [online] Asics.com. Available at: <https://www.asics.com/in/en-in> [Accessed 14 January 2022].

Camilleri, M.A., 2018. Market segmentation, targeting and positioning. In Travel marketing, tourism economics and the airline product (pp. 69-83). Springer, Cham.

Emeagwal, L. and Ogbonmwan, K.O., 2018. Mapping the perceived role of strategic human resource management practices in sustainable competitive advantage. Academy of Strategic Management Journal, 17(2), pp.1-19.

Nandonde, F.A., 2019. A PESTLE analysis of international retailing in the East African Community. Global Business and Organizational Excellence, 38(4), pp.54-61.

Niazi, N., Rashid, M. and Shamugia, Z., 2021. Role of Marketing Mix (4Ps) in Building Brand Equity: Case Study of Shell Petrol, UK. International Journal of Applied Business and Management Studies, 6(1), p.2021.

Phadermrod, B., Crowder, R.M. and Wills, G.B., 2019. Importance-performance analysis based SWOT analysis. International Journal of Information Management, 44, pp.194-203.