Harvey Nichols is a UK based up-market department store with several chains. The business handles the sales of international clothing brands for men and women, beauty products, fashion accessories, food and wine. The business has managed to maintain the attraction of younger shoppers compared to its market competitors such as Harrods. In order to improve its revenues and profits at the end of each financial year, the organization should focus on adoption and implementation of a new marketing communication plan. This is vital towards enhancement of the reputation and image of the organization as well as increasing the market coverage and consumer base.
Proposed approach for the development of a marketing…show more content…
All the activities and strategies involved in getting the desired clothing and fashion industry marketing messages to the intended target markets are possible through communications. The global clothing industry has been handling a tough consumer market following the presence of established and competitive fashion rivalry (Smith and Taylor 2004, p. 7). Harvey Nichols has tried to cope with the changing consumer tides through introducing efficient marketing strategies to draw the attention of its consumers.
Harvey Nichols boasts of a strong pricing power in the market. This aspect is essential in enabling the franchises compete effectively with best competitors in the market. Additionally, the franchise has a strong management, which gives an added advantage over most of rival franchise. Other strengths aspects that the franchise boosts of include, having an effective financial advantage over other franchises, an innovative culture that is strong, and a constant supply chain.
Some of the common weaknesses the franchise is facing include, work inefficiencies at the franchise, technologies which are deemed as outdated and high staff turnover. Additionally, the franchise also experiences problems in relation with bad acquisition, tarnished reputation due to occasional poor services and outdated technologies. In some cases, the franchise also experience problems in relation to high debt