Business Plan

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Contents
Executive Summary.....................................................................................................................................1
Introduction.................................................................................................................................................1
Definitions of Marketing..............................................................................................................................1
Classical / narrow....................................................................................................................................1
Modern / board.......................................................................................................................................2
Main Characteristics of Marketing..............................................................................................................2
Production Orientation:...........................................................................................................................2
Product Orientation:................................................................................................................................2
Sales orientations:...................................................................................................................................2
Marketing Orientations:..........................................................................................................................2
Key elements of market orientation............................................................................................................2
 Customer orientation:.....................................................................................................................2
 Long term profit focus:....................................................................................................................3
 Interfunctional coordination:...........................................................................................................3
 Competitor orientation:...................................................................................................................3
 Organizational Culture:....................................................................................................................3
Benefits of marketing approach..................................................................................................................3
Cost of marketing approach........................................................................................................................3
Market orientation assessment...................................................................................................................3
Customer orientation..............................................................................................................................3
Competitor orientation............................................................................................................................3
Market segmentation criteria......................................................................................................................4
 Identifiable:.....................................................................................................................................4
 Accessible:.......................................................................................................................................4
 Substantial:......................................................................................................................................4
 Unique needs:..................................................................................................................................4
 Durable:...........................................................................................................................................4
Targeting Strategy.......................................................................................................................................4
 Single-segment:...............................................................................................................................4
  Selective specialization:...................................................................................................................4
 Product specialization:.....................................................................................................................4
 Market specialization:......................................................................................................................4
 Full market coverage:......................................................................................................................5
Affects of buyer behavior............................................................................................................................5
Marketing Mix.............................................................................................................................................5
A. Product:...............................................................................................................................................6
B. Price:....................................................................................................................................................6
C. Place:...................................................................................................................................................6
D. Promotion:..........................................................................................................................................6
Different marketing strategy of vogue........................................................................................................6
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SWOT analysis of vogue...............................................................................................................................7
Strengths.................................................................................................................................................7
Weaknesses.............................................................................................................................................7
Opportunities..........................................................................................................................................8
Threats.....................................................................................................................................................8
Conclusion...................................................................................................................................................8
Bibliography................................................................................................................................................9

“Executive Summary”
“The main aim of this fashion marketing is to understand customer’s needs and to develop a”
“right” “way that” “can cover all this essential matter. Basically fashion marketing jobs is”
“making” “sure “always and find out” “about customer requirements. This is also very”
“important” “for” “fashion “industry.”

“Aim of this report focus on Vogue marketing operation and how they control their domestic”
“and” “international market. The information that use in this report is secondary data and also”
“different “techniques, analysis such as PESTEL analysis, SWOT analysis, Marketing mix”
“analysis, market “segmentation, targeting analysis etc. are used to discover Vogue marketing”
“position in national “and international place.”

“Introduction”
“Vogue is top leading fashion marketing in UK. It manages over a thousand Malls,”
“hypermarkets,” “and convenience store in the United Kingdom, Ireland, central Europe, and”
“Asia. Vogue is fashion's bible, the world's leading fashion publication. It was founded in 1892”
“as a weekly periodical focused on society and fashion, and was subscribed to by New York's”
“elite. Condé Nast (1873-1942) bought the magazine in 1909 and began to transform it into a”
“powerhouse.”

“Definitions of Marketing”
“The definitions of marketing of marketing can be divided into two categories:”

1. “Classical (narrow)”
2. “Modern (board)”

“The classical definition of marketing has several weaknesses that are overcome in the modern”
“definition. A proper definition of marketing should not be confined to goods and service. It”
“should cover organization (for example, Florida Orange growers), people (political candidates”
“and celebrities), place (Denver, Colorado), and ideas (the value of a college education).”

“Classical / narrow”
“Marketing fashion industry is the performance activates that direct the flow goods and service”
“from producer to” “consumer or user. (Ralph S.Alexander (Chairman), “Report of the”
“definitions committee,”” “journal of marketing, vol. 12 (October 1948), pp. 202-217)””

“Fashion Marketing is the process in a society by which the demand structure for economic”
“goods and” “service is anticipated or enlarged and satisfied through the conception, promotion,”
“and physical” “distribution of such goods and services. (Statement of the Philosophy of the”
“marketing faculty,” “the Ohio state University, The journal of marketing, vol. 29 (January”
“1965), pp. 43-44).””

“Modern / board”
1. “Vogue Marketing is the exchange taking place between consuming groups on the one”
“hand” “and” “supplying groups on the other.”
2. “(Wroe Alderson, marketing Behavior and Executive Action (Hoewood, 3 Richard D.”
“Irwin, 1957), p. 42).”
3. “Vogue Marketing is concerned with regulating the level, timing, and character of”
“demand for” “one or more products of an organization. (Philip kotler, “The major task”
“of marketing” “Management,” Journal of Marketing, vol. 37 (October 1973), p. 42).””
 4. “Marketing is human activity directed at satisfying needs and through exchange”
“processes. (Philip kotler, Marketing Management: Planning, Analysis, and Control,”
“fourth edition (Englewood Cliffs, N.J.: Prentice-hall, 1980), p. 19).”

“Main Characteristics of vogue Marketing”

“There are four main characteristics of vogue marketing oriented organization:”

“Production Orientation: This is organizational or values where competitive advantage is”

“attained through increase productivity or volume. It’s a traditional orientation that exists in the”
“old fashion era. In modern times this is practiced in compliment with other orientations.”

“Product Orientation: An organizational culture where competitive advantage gained”

“through the creation of product leadership (high quality features) becomes the sole objective of”
“a business.”

“Sales orientations: An organizational culture where competitive advantage attainted”

“through the creation of superior sales force to generate adequate sales becomes the objectives”
“of” “a business.””

“Marketing Orientations: An organizational culture where beating competition through”

“the” creation of superior customer value is the paramount objective throughout the business”
“(piercy, market led strategic change 2001).”

“Key elements of vogue market orientation”

“The main key elements of market orientation are:”

 “Customer orientation: Understanding customer well enough to create superior”

“value for them.”
 “Long term profit focus: Having this as strategic focus business objective.”
 “Interfunctional coordination: Mobilizing all company resource to create value”
“for target customer.”
 “Competitor orientation: Awareness of the short and long term capabilities of”
“competitors.”
 “Organizational Culture: Management and employee behavior to focus on”
“customer” “satisfactions a value.”

“These are the key aliments that must be flow in oriented organization.”

“Benefits of vogue marketing approach”

 “High customer satisfaction, loyalty and retention”
  “Increase sales and market share”
 “Growth in profitability”
 “Enhanced competitive advantage”
 “Improved corporate image”

“Cost of marketing approach”

 “Increasing customer expectations”
 “Staff training and development needs”
 “Technology requirement for customer contact and improved ways of doing business”
 “Increase resource demand to providing customer specific marketing”
 “Complex customer growing needs and power”

“Vogue Market orientation assessment”

“Customer orientation”
 “Regular collection of information on customer needs”
 “Customer focus corporate policies and objectives”
 “Regular customer satisfaction review and improved service levels”
 “Responsiveness to customer needs”
 “Market offers reflecting the various needs of distinct segments”

“Competitor orientation”
 “Regular collection of information on competitor activities”
 “Responsiveness to competitor actions”
 “Bench marking on competitor offering”
 “Differentiating on the basis of customer needs”

“Vogue Market segmentation criteria”

“In addition to having different needs, for segments to be practical they should be evaluated”
“against the following criteria:”

 “Identifiable: the differentiating attributes of the segments must be measurable so”

“that” “they can be identified”
 “Accessible: the segments must be reachable through communication and distribution”
“channels.”
 “Substantial: the segments should be sufficiently large to justify the resource required”
“to target them.”
  “Unique needs: to justify separate offerings, the segments must respond differently to”
“the different marketing mixes.”
 “Durable: the segments should be relatively stable to minimize the cost of frequent”
“changes.”

“A good market segmentation will result in segment that are internally homogenous and”
“externally heterogeneous, that is, as similar as possible within the segment, and as different as”
“possible between segments.”

“Base for Segmentation in consumer markets:”

“Consumer markets can be segmented on the following customer characteristics:”

 “Geographic”
 “Demographic”
 “Psychographic”
 “Behavioralistic”

“Targeting Strategy”
“There are several different target-market strategies that may be followed. Targeting strategies”
“usually can be categorized as one of the following:”

 “Single-segment: strategy – also known as a concentrated strategy. One market”

“segment (not the entire market) is served with one marketing mix. A single-segment”
“approach often is the strategy of choice for smaller companies with limited resources.”
 “Selective specialization: this is a multiple-segment strategy, also known as a”
“differentiated strategy. Different marketing mixes are offered to different segments.”
 “Product specialization: the firm specializes in serving a particular product and”
“tailors it to different market segments.”
 “Market specialization: the firm specializes in serving a particular market segment”
“and offers that segment an array of different products.”
 “Full market coverage: the firm attempts to serve the entire market. This coverage”
“can be achieved by means of either a mass market strategy in which a single”
“undifferentiated marketing mix is offered to the entire market or by a differentiated”
“strategy in which a separate marketing mix is offered to each segment.”

“Affects of buyer behavior

“One of the most important parts of marketing is buyer or customer behavior. Because of that”
“vogue must understand why a customer or buyer makes a purchase. Without such an”
“understanding it is hard for vogue to respond customer’s needs and wants.”
““According to Peter Clark, co-editor of the Wise Market and co-author of the loyalty Guide”
“reports series,” there are six major factors that play key roles in influencing the loyalty and”
“commitment of customer:”

“This six factors working when every customer goes to buy something. There for vogue”
“contain to this factor. Because of customer different needs vogue has focus to maintain what”
“they want and it also depend on different buying situation.”

“There are two main factors that influence a purchase:”

“Cultural factor: Cultural factors have a significant impact on customer behavior. Culture is”
“the” “most basic cause of person’s wants and behavior. Growing up, children learn basic”
“values,” “perception, and wants from the family and other important groups.”

“Social factor: A customer buying behavior is also influenced by social factors, such as the”
“groups to which the customer belongs and social status.”

“This all factor effects on vogue marketing operation because customer is now king and every”
“business have to make sure about their needs. For example in local market means UK vogue”
“can sale pork but in Asian market it is not possible to sale pork in every place. Organization”
“duty to make sure about customer requirements and also maintain their cultural and social”
“wants.”

“Marketing Mix”
“The concept of a marketing mix is best described by (1990, 43) claiming that is “the set of”
“controllable marketing variables that the firm blends to produce the response it wants in the”
“target market” it is compose of 4ps: product, price, place, and promotion. In the context of”
“vogue, their entry to the Chines market should significantly adapt to the culture of the”
“consumer in the said location. However, the company should take into keep in mind the basic”
“standards to which their company adheres to.”

“A. Product: The management of vogue should set off product development strategies once”
“they have taken control of their shop in China by marketing their existing products, exporting”
“products in different province of the country and in so doing pressing forward on the possible”
“opportunities of boosting the company’s market penetration and market share. Tesco should”
“consider restoring or revising models of their product to provide the Chines customers what”
“they want and what they need. In this way vogue could develop the store’s own brand product”
“which could be marketed strategically within the territory of china.”

“B. Price: Looking at the situation of vogue, one way that it could acquire cost advantage is by”
“enhancing process efficiency, expanding exclusive contact to a large supplier of lower cost”
“materials, or steering clear of several costs in general. If rival organizations in the country are”
“incapable to lower their costs by a comparable quantity, Tesco will be capable of sustaining a”
“competitive anchored cost leadership.”

“C. Place: To develop its success in its retail operations, the vogue should make multi-million”
“pound investments in store expansion in low-income districts and localities. By getting”
“involved” “with similar-minded public and private sector groups like local community based”
“associations, “colleges, and chambers of commerce, the vogue will be able to open sites in”
“economically “disadvantage districts in china. Targeting these areas will enable the company”
“to” “gain of local “luminaries and gain favor from the local government by providing”
“employment to “the locals.”

“D. Promotion: The vogue approach should constitute a long-standing strategic plan that”
“centers on generation value to expand the loyalty of their customer which takes account of”
“preserving a well-built central Chinese business, to be as strapping in non-food as food product”
“and services, to develop globally and to set the ball rolling on retailing services like on-line”
“shopping.”

“The bottom-line is that object of the marketing mix is to satisfy the customer and in this”
“analysis we can see place play most important role in china situation. Because of that vogue”
“not” “catches that much success like UK or other place. Other hand vogue product price is”
“contribute to “get success of vogue and for that in UK Tesco is a number one retail company.”

“Different marketing strategy of vogue”

“Vogue brought about o lot of changes in these marketing strategies and has grown to become”
“UK’s number one in fashion industry. “Today in the UK, the retailer has been dominant force”
“more than” “10” “years”-(Seth, A. & Randall G., The Grocers: The Rise and Rise of the”
“fashion market” “Chains). If “we look in vogue history we can see Tesco always change their”
“strategy within” “time” “base and “for that they get success constantly.”

“SWOT analysis of vogue”

“Strengths”
 “Vogue have secured commercial standing within the global market place wining” “this”
“can be used marketing” “campaigns to drive advantage towards the demographic base
“for” future growth and” “sustainability.”
 “In an environment where global retail sales are showing decline or level performance”
“on” “a like basis vogue Group have published sales gain of 13% for UK markets of”
“fashion and” “26%” “growth in international markets.”
 “As a business looking for continued expansion vogue have reserve funds of credit”
“coupled with income derived from property portfolio development funds.”
“Weaknesses”
“Vogue finance profit levels were impacted through bad debt, credit card arrears and”
“household” “insurance claims.”

“Vogue position as a price leader in UK markets can lead to reduced profit margins in order”
“to” “retain the key price points on must have commercial items.”

“Grocer outlets are not set up to operate as specialist in specific areas of product which can be”
“capitalized on by other smaller bespoke retailer.”

“Whilst current economic conditions suggest vogue key value massage will succeed there is” “a”
“weakness in nonessential, mind to high ticket price items which will suffer from the rising”
“cost of living and lower disposable incomes.”

“Opportunities”
“Statistics suggest vogue is the one of the largest which indicates a level of buying” “power to”
“ensure mainstream economies of scale.””

“The acquisition of whomever provides the opportunity to develop the brand through Asia,”
“specifically South Korea and further grow international markets for the group.”

“The development of vogue Direct through online and catalogue shopping will grow the use”
“of” “technology, providing the launch pad for large nonfood based products with moderate to”
“high margin returns and less focus on sale and margin per foot return to space.”

“Vogue market have grown ¼ million customer in 2008 and moved into profitable status”
“suggesting further growth and development within this technological area can be developed.”

“Threats”
“UK and America markets have been affected by economic through the “credit crunch” Lower”
“available income and strategic focus may need to change to lower priced basic products with”
“less focus on higher priced brands suggesting a switch in price architecture.”

“Rising raw material costs from both fashions will impact profit margins overall.”

“Changes to consumer buying behaviors require further analysis – as technology develops”

“consumers buying patterns change which will result in product areas requiring evaluation.”

“For vogue there is a persistent threat of takeover form the market leader Wal-Mart who has”
“both means and motive to pursue such action.”

“Conclusion”
“Present time vogue is the one of the best fashion market in UK. They expand their business all”
“over the world for example: China, India, Malaysia etc. vogue have to understand that”
“international marketing and domestic marketing both are complex process. Therefore they”
“have” “to maintain their marketing progress and keep focusing on customer. In this report we”
“try to “show that how vogue operate their marketing system, what is there aim, and what they”
“can do. “So vogue main objective is to take long term decision to make profit and also full-fill
“customer needs.”

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