Discuss The Various Elements Of Zara

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Explain the various elements of the marketing process
Zara, one of the global fashion companies found ways to discover unfulfilled customers’ needs and brought to market products that satisfy those needs. The process of doing so can be modeled in a sequence of steps: the situation is analyzed to identify opportunities, the strategy is formulated for a valued proposition, tactical decisions are made, the plan is implemented and the results are monitored. In addition to identifying the customer needs, Zara understands its own capabilities and the environment in which it is operating. The situation analysis can be viewed as an analysis of the external environment and an internal analysis of Zara itself. The external environment can be described
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The ramifications of a wrong choice will cost lost time and a scarce marketing budget, as well as affecting the business’s bottom line. Marketers attempt to create an image or identity for a product, brand or company and usually express positioning relative to other competitors in the market. Positioning Zara’s product or service is simply defining who they are in the customer’s eye. When positioning a product or service, it is important to decide what the sustainable competitive advantage of the produce is versus its chief competition. The product will have a better change of success if it has a sustainable advantage; hence the product has some unique offering competitors do not have and that it can hold long term. Some small businesses use a positioning strategy, known as the unique selling proposition, which identifies and communicates the company’s most compelling offer and benefit in a way that answers customers’ question, “what’s in it for me”. Another important aspect is that positioning strategies should not be considered fixed. A reevaluation may be in need, if competitor offerings change, the business environment changes or the strategy proves to be marginal. However, constant modifications may confuse customers, therefore changes should only be made when
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