Individual Research Report Customer focus Business Studies and Busine

Question: Explain about Individual Research Report and Create a Essay on Customer focus Business Studies and Business. Answer: Introduction In this current world, the effectiveness of commercialisation is much prominent. Each of the companies is trying to upgrade the marketing efficiencies in order to participate in this business competition. According to De Mooij (2013), addressing the customers needs is considered as the key to achieve the success for each of the business companies. Hence, it is important to keep the focus on the basic demands of the customers and provide them the expected products or service (Deshmukh Mohan, 2016). If the customers are satisfied with the outcome, it would be effective enough in generating the profits. Apart from such requirement, the business companies even need to recognise the market needs. The study would be discussing the market analysis of Zara, Singapore. The identification of the market and customer needs would be presented. Apart from this, the analysis of the competitive scenario would be discussed. In addition to this segment, the STP analysis of Zara would be incorporated in this study to obtain the idea about the current market segment. Recognition of such basic segments would be helpful enough in establishing several suitable recommendations further. Background of the Organisation Zara, one of the largest international fashion companies is a part of Inditex, which is considered as the largest distribution group. The target group of Zara is generally the young aged people who are extreme sensitive about their style segments. The vision of the company is to satisfy the consumers by identifying their needs and demands. The mission the company is to implement the efficient business models to ensure the sustainable development (Zara.com, 2016). The company is much focused on providing the improvised customer experience, which would be beneficial for the future (Marinabaysands.com, 2016). The major selling products of Zara are the footwear, accessories for men and women, apparel, and fashionable clothes. However, keeping the concentration on this current market competition, it is noted that the company has to face various challenges. The product variation is the most necessary segment that each of the companies needs to be followed. However, it is required to identi fy the exact issue that is creating effects on the competitive position of the organisation. The study will be recognising such issues and accordingly will be justifying the relevant strategies for the further development. Identification of the Customers need, want, demand, product, and market It is to be noted that Zara, Singapore is mainly focusing on the people of young age group. The company has been providing the fashionable clothes, fashion accessories, and shoes for both the men and women. Needs: While establishing the business in a place, it is required to understand the market segments and the needs of the customers. The customers are the major external stakeholders who buy the products or services from the company. The customers mainly perceive for the high quality materials in reasonable rate. Cortez et al. (2014) implied that the products or the services are the key aspect, which leads to the business success. The customers attitude depends on their experiences shared while using the products offered by the company. Moreover, undertaking the proper promotional process is also required to attract the customers attention. If the company is able to satisfy the expectation level of the customers, it would be beneficial in strengthening the competitive position (Mo, 2015). Hence, the most important aspect is to recognise the needs and demands of the customers. Want: Similarly, Zara needs to focus on the customers demands at the first place. It is seen that in Singapore, the fashion segment of the society is much influenced by the traditional approaches. The young customers are much attracted towards the various designs of the clothes. Zara have always put the customers preferences at the first place. Therefore, the company has prioritizes the wants of the customers. Accordingly, Zara has been concentrating on engaging the innovative ideas and designing the fashion clothes considering the latest trends. Demand: The customers of Singapore are much fond of various style segments. The lack of the product variation is the major reason behind the influence of the traditional approaches. Zara is one of the leading international companies that is introducing different fashionable segment. The customers usually purchase the products by specifying their requirements (Elahi, 2013). Hence, while undertaking the business procedure, Zara needs to identify the exact demand of the customers. Zara has focused on providing the fashionable garments, accessories, and shoes to the people of young age group. Therefore, the company needs to recognise the actual types of the fashion styles that will be preferable to the customers. For example, the target customers of Zara are the city dwellers who demand for the current fashion trends. Moreover, the repeated changes in the needs are also much challenging for the company. The spontaneous fashion needs foreseen among the city dwellers are thus difficult to attain sometimes (He, 2012). The customer satisfaction is possible if the company manages to fulfil the needs of the current competitive world. Market: The recognition of the market is also much essential. If the company requires offering the innovative style segments to the customers, the identification of the market is much necessary. In this particular case, Zara has been operating the business in Singapore market. Therefore, it is noted that the style of the local people is much influenced by the eastern culture. Accordingly, Zara has focused on designing the fashion clothes by considering the trends in the Singapore market. Orientation of Zara towards the market place Zara is renowned as one of the leading internationalised fashion retail companies. This Spanish company has been operating in 59 other countries. The business model developed by Zara depends on the two major aspects. The first aspect considers the time factor whereas the second aspect determines the source of information. This source of information is necessary to be concentrated as it signifies the customers orientation. The major aim of the company is to satisfy the needs and demands of the customers by delivering them the unique fashion products. Even while establishing the business in the Singapore market, the company has been adopting the market demands in order to achieve the customers expectation level (Kim Lee, 2014). Apart from the delivery of the products, the company has been concentrating on the customer service as well. Zara has been focusing on the best pricing strategy, which is determining a fixed price for the target customers. In such cases, the entire budget inclu des the cost of production, materials, and suppliers. In considering the international market orientation, Zara has undertaken the effective internationalised marketing strategy. One of the marketing managers of Zara stated subsidiary companies had to be a replication of the Spanish stores (Core.ac.uk, 2016). Due to such approach, the company has encountered many of the challenges and faced various difficulties. It is not easy to establish the traditions of Spanish people in Singapore market. The matter of acceptability is the most important factor for Zara. Therefore, the company has concentrated on the geocentric orientation, which will be beneficial for the company to adopt some of the local facilities (Rossi, 2013). In order to increase the sales ratio; the achievement of the customers expectation is required. The obtained idea from the other discussion is indicating that Zara has become much focused on increasing the production. If the company can improve the production, it would be easier to present the innovative style segments t o the customers. In fact, the customers can even select their suitable style segments among the varieties of products. The higher amount of productivity would be effective enough in satisfying the needs of the customers accordingly. Major issues faced by Zara It is noted that in order to strengthen the competitive position, Zara has been adopting different types of marketing strategies (Businesscasestudies.co.uk, 2016). Accordingly, the company has to face several difficulties, such as the threats of the competitors, level of competition, and political issues. In the initial stage, the innovative strategies were not promoted through the traditional media channels. In this current business world, many of the companies have captured the significant market place without even promoting any marketing campaigns (Kennedy, 2013). This competitive scenario is specifying the less chances of growth for Zara in Singapore. In such cases, it is required to adopt the traditional media or the effective marketing campaigns to resolve the issues. In fact, the company would be able to earn more market share through the effective promotions of marketing campaigns. In order to compete in the Singapore market, Zara needs to pay attention towards the needs and desires of the customers. It is noted that Zara has been trying to design the clothes by considering the traditional needs. However, in some of the cases, it is seen that the target customers seek different style segments. The company thus faces the potential challenges in switching to another design. For example, the customers in Singapore are much interested in readymade products with bright colour. Hence, while designing the fashionable clothes, the company needs to consider such requirements of the customers. Maintaining the traditional touch is thus necessary while dealing with the customers of the local place (Wong Yazdanifard, 2014). Another most significant issue that Zara face is the threats of the other competitors. The presence of other international brands is challenging enough for the company. Due to such competitive scenario, the company needs to ensure some of the unique des igns of the clothes that can draw the attention of the customers. The accessibility to the required resources is essential (Lea-Greenwood, 2013). The company faces the difficulties to access the necessary resources. The repeated and constant changeable demands of the customers thus become the major concerns for the company. The extensive competitions in the market and the presence of diversified local competitors are also considered as the potential threats for Zara. Most of the companies follow the innovative market strategies to strengthen their competitive position (Fernie Grant, 2015). Issues with Segmentation, Target Market, and Positioning Segmentation: In considering the market segmentation of Zara, the demographic segmentation is needed to be analysed. The demographic segmentation of Zara indicates the target customers who belong to the age group of 18-40 years. The customers have the mid-range of income and they are much interested in fashion trends. Zara has set their lifestyle segmentations, which include the small sized customers and plus sized garments. The company is much focused on the hectic lifestyle garments (Kotler et al. 2015). It is noted that the company has been facing the major challenges with the cultural traits in Singapore. Whereas Zara is much focused on the hectic lifestyle with the current fashion trends, the country is influenced by the traditional approaches. The conflicts between the traditional style and the current fashion trends have become much prominent. Accordingly, Zara has been facing the extreme challenge in such cases. Target and Positioning: Zara has implemented the relevant business model to fix the target customers and market positioning aspect. While structuring the business model, it is important to keep the focus on the major factors. These factors are as follows: Customers: The customers are the major stakeholders that determine the successive business position in the competitive market. It is to be noted that the fashion garments and accessories offered by Zara is generally customer oriented. The promotions of the brand are essential to gather the customer support (West, Ford Ibrahim, 2015). While establishing the business in the foreign market, it is important to provide the proper customer service. The arrangements of the frequent marketing campaign would be beneficial in gathering the customers attention towards the brand. Customers feedback is the most required aspect that can strengthen the organisational position. However, it has been seen that the business strategies undertaken by Zara do not include the promotions through the media channels. Hence, the company gets the lesser chance to identify the customers needs. It may thus affect the customers interests. Store: The specified location of the Zara store is needed to be considered. The store location determines the linking between the customers interests and the offers received from the company. If Zara can pay the attention in establishing the stores in the customer oriented location, there will be no need of undertaking the marketing campaigns (Robles Hassan, 2015). It is seen that Zara has been facing most of the challenges in selecting the proper location for the stores in Singapore. The super market area, which is associated with the shopping malls, would be beneficial for opening the stores. The selected target customers often visit the place and can pay the attention towards the fashionable garments offered by Zara. Designs and Products: Another major concern of Zara is to pay attention towards the proximity of product facilities and the reaction of the customers. The company usually focuses on the quantity of the products and associates for delivering these products. Therefore, the company is trying to appoint 1000 suppliers and organising almost 200 designer shows. It has been signified that there are almost 600 million garments are distributed per year (Kim, 2013). However, while establishing the stores in Singapore, it is important for the company to analyse the feasibility of the fashion garments and accessories. The high traditional country like Singapore may not accept the hectic style segment of the company. In such cases, it is required to identify the customers; requirements before designing the fashion garments. The above discussion based on the segmenting, targeting and positioning has been signifying some of the recognisable issues. The major issue has been found in understanding the customers demands, which is constantly changing. The second issue is specifying the acceptability of the different traditional wear in Singapore market. Another issue is considering the proper locations for the stores. In addressing such issues, some of the preferable recommendations are presented further for Zara. Recommendation The discussion based on the market position of Zara in Singapore is signifying several issues. It is true that each of the organisations try to implement the innovative strategies to strengthen their position in the competitive market. Satisfying the customers needs is the key to achieve the business sustainability in such cases. The internationalised brand Zara has captured the market positions in many countries. However, Singapore is a country where the traditional aspect is completely different. Hence, it is quite clear that the company ought to face the above mentioned challenges. The business success depends on the satisfaction level of the customers. In such regards, the major criterion is to identify the customers needs. The current business model developed by Zara is mainly focusing on introducing the innovative designs of the fashion garments. However, the possibilities of rejecting the designs by the customers are much prominent, as Singapore is a country with different cultures. In such cases, it is important to identify the basic needs and demands of the customers. If the company can undertake the proper marketing campaign to promote the brand, it would be beneficial to extend the brand awareness among the target customers. In fact, the customers can provide their feedback regarding their requirements. Hence, it would be fruitful for the company to arrange the marketing campaigns in order to understand the customers demands. Another most significant strategy is to structure the pricing scale. The economic structure in Singapore is quite beneficial for the business. However, if the company has been focusing on the customers with mid-range of incomes, it is required to set the proper pricing structure. The cost differentiation would therefore attract more customers in taking interests on the fashion garments offered by Zara. Apart from this, the arrangements of the fashion shows would also provide some benefits to the company. If the customers attend such fashion shows, they can be well aware of the current trends. Conclusion The study has been analysing the issues associated with the marketing procedure of Zara in Singapore. The issues associated with the target market, segmentations, and positioning have become much prominent. The identification of the customers needs is the basic requirement for strengthening the business position. The threats from the existing competitors are also major concerns for the company. However, the arrangements of the proper marketing campaigns and fashion shows would be beneficial for promoting the brand. Accordingly, the company would be able to strengthen their competitive position in the business market of Singapore. References Businesscasestudies.co.uk, (2016). Customers needs Customer focus business studies and business english | Business Case Studies. [online] Businesscasestudies.co.uk. Available at: https://businesscasestudies.co.uk/business-theory/marketing/customers-needs.html#axzz4Fg9Hgwfp [Accessed 27 Jul. 2016]. Core.ac.uk, (2016). 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