RETAIL THEORY AND PRACTICE

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 Table of Contents
1. Introduction..................................................................................................................................2
1.0 Research Background................................................................................................................2
2. Key changes in Fashion Market in the UK in association with Alexander McQueen................2
2.1. Macro Environmental Analysis................................................................................................2
2.2. Micro Environmental Analysis.................................................................................................3
3. Strategies and Tactics..................................................................................................................4
3.1. Pricing strategies.......................................................................................................................4
3.2. Competitors...............................................................................................................................4
4. Conclusion...................................................................................................................................4
References........................................................................................................................................5

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1. Introduction

1.0 Research Background

Alexander McQueen is a British Fashion retail sector that was established in the year 1992
(Alexandermcqueen.com, 2019). Hence this particular study would deal with the analysis of the
Business market for the fashion Industry in Britain. The resources that are to be used in the study
would entail in Detail the strategies used by Alexander McQueen in order to deal with macro as
well as the micro environmental conditions.

2. Key changes in Fashion Market in the UK in association with Alexander McQueen

2.1. Macro Environmental Analysis

In order to analyse the impacts of macro environmental factors on the business of Alexander
McQueen PESTLE is to be used;

Political The impacts of the present political conditions of Britain that

might affect the business of Alexander McQueen are to be
discussed. For instance, issues due to Bruit might be reflected
here.

Economical The economic climate of Britain that might favour or resist the
business of Alexander McQueen is to be discussed over here.
For instance, as opined by Burt et al. (2019), UK is the fifth
largest economy in the world. However, this is favoured by an
increase in income per capita up to 7.83 pounds per hour.

Social As per the views of Alexander and Cano (2019), the national
population of UK in 2016 was 68 million and is expected to
rise to 74 million in the year 2039. This is to be linked with

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 the process used by Alexander McQueen in order to cater
needs of the new population are to be reflected over here.

Technological Technology plays an important role in carrying out the present

day business operations. The role of Technology in Favouring
the business or resisting it is expected to be discussed over
here.

Legal The impact of legislation on the trade policies and pricing

strategies of Alexander McQueen are to be discussed over
here.

Environmental Impact of Alexander McQueen’s business on the environment

is to be discussed over here. For instance, the process of eco-
friendly manufacturing techniques could also be discussed.

2.2. Micro Environmental Analysis

Strength Weakness
The current assets of the company that helps Weak points of the company that might affect
the company in order to run the organization the business of the company are to be
might be discussed over here discussed over here.

Opportunities Threat
Linking with the strengths the company might Backdated business marketing strategies are
have, the business opportunities that might be expected to be discussed over here.
presented in front of the company is expected
to be presented over here.

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3. Strategies and Tactics

3.1. Pricing strategies

As opined by Baron (2019), there are six pricing strategies and they are listed accordingly;
● Premium pricing
● Product entry pricing
● Economic pricing
● Price Skimming
● Psychology Pricing
● Wholesale pricing
Amongst this, the final pricing strategies and the situations that might influence the pricing
strategies are to be discussed over here.

3.2. Competitors

As opined by Håkansson et al. (2019), Alexander McQueen might be considered as one of the
major leading fashion Retailer based out of UK. Hence it is quite evident that the brand might
have a lot of competitors. Therefore this part of the study is expected to analyse the core
competitors and present the strategies that are to be used by the company in order to deal with
the situations accordingly.

4. Conclusion

The economic conditions for fashion retail in England might be considered to be favourable.
Business environment analysis might be reflected as a strategic tool that might allow the business
leaders of the company to analyse and estimate their position in the global market.

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References

Alexander, B. and Cano, M.B., (2019). Futurising the physical store in the omnichannel retail
environment. In Exploring Omnichannel Retailing (pp. 197-223). Springer, Cham.
Alexandermcqueen.com ,(2019), THE HERITAGE LEE ALEXANDER MCQUEEN, Available
at : https://www.alexandermcqueen.com/experience/us/biography/[ Accessed on : 20 January,
2019]
Baron, N., (2019). Designing Paris Gare du Nord for pedestrians or for clients? New retail
patterns as flow optimization strategies. European Planning Studies, pp.1-20.
Burt, S., Coe, N.M. and Davies, K., (2019). A tactical retreat? Conceptualising the dynamics of
European grocery retail divestment from East Asia. International Business Review, 28(1),
pp.177-189.
Håkansson, J., Li, Y., Mihaescu, O. and Rudholm, N., (2019). Big-box retail entry in urban and
rural areas: Are there productivity spillovers to incumbent retailers?. The International Review of
Retail, Distribution and Consumer Research, pp.1-23.