Fashion Management - Esprit

630 Words Mar 28th, 2013 3 Pages
Marketing Problem - Slow Response to Market Trends The target customers of Esprit is youngsters, however, its products’ life cycle is too long that cannot chase the global market fashion trends. Therefore, its market positioning is unclear for customers. Also, it can only provide basic items due to its slow response to fashion trends. Consequently, its products cannot satisfy customers’ wants and needs. Holdings reported a 15.7% rise in net profit to HK$1.87 billion for six months ended 31/12/2005 that was at the low end of market forecast. It was mainly attributable to weak performance of its Women’s Casual and Collection lines. Recommendation – Fast Fashion Fast fashion is used to describe clothing collections which …show more content…
Recommendation – Define Target Customers and Develop Clear Product Lines Marketing department should have a detail research and define target customers. For instance, department may set up suggestion boxes in shops or questionnaire online in order to collect opinion from customers. Another way is hire market research companies to find out customers’ preferences. After conducted customers’ preferences, clear product lines should be developed as those existing are overlapped in styles. Therefore, similar product lines should be eliminated and combined into one to save cost and meet target customers’ preferences. For example, edc man and edc esprit can be combined as they are undeniably similar to each other.

Problem – Weak Advertising Esprit has seldom type of advertising, so it should development the new advertising. Importantly, the density of its advertisement is low and the image of the advertisement is deviated from trends. Investment in advertising is too low, for example, their spokesmen are not well-known compared to the spokesmen hired by their counterparts. Recommendation – Promotion To boost Esprit’s promotion, some promotion strategies will be developed. Primarily, arts department should be reformed in order to build a fashionable image by the advertisements. Also, the print ads should be published in high end fashion magazines, like Vogue and Elle. Massive posters can be hung up
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