Fashions is an exclusive fashion retail store of Bangladesh. It retails women, men, and kids fashionable apparels. Located in a prime zone of Goulash-l in Dacha, it gives customers freedom of choice regardless of their age, location, taste, season, and fashion persona. Established and inaugurated in August 2009, the retail store KARA Fashions has successfully placed itself among the most celebrated and recognized retail stores of the country. The store produces an exclusive array of products and outfits.
Most of these are designed and manufactured in house, while he rest are exclusively commissioned from the most talented craftsmen and weavers around the world. Its unique design and features symbolize aristocracy, and target the most elite customers of the country. Thus, KARA Fashions compliments a trendy lifestyle, and always ranks itself one step ahead with the latest styles and designs. Product Offerings KARA Fashions offers different ethnic and aristocratic products to their high end customers. They usually focus on the classy, gorgeous and ethnic products which will quench the aristocratic thirst of their potential customers.
The main products that KARA Fashion offer are- Scares, Salsas Kamikaze, Sherwin, Suit, Shirt, Men’s accessories, Kids Wear, Jewelry, Cosmetics, Ladies Footwear, Ladies Bag etc. 2. Mission The mission of Kara Fashions Ltd. Is to provide their customers with exclusive products in order to compliment a trendy lifestyle. Thus they refer it as ‘A House of Exclusive Fashions. ‘ 3. Vision Kara Fashions Ltd aims to practice relationship marketing which involves creating, maintaining, and enhancing long-term relationship with their each and every customer. Thus, they believe to stay always one step ahead with the latest styles and designs. . Situation Analysis Today’s market is characterized by highly competitive organizations which are all vying for consumer’s loyalty. Firms are faced with the challenge to maintain their own competitive edge to be able to survive and be successful. Strategies are carefully planned and executed to gain the ultimate goal of all: company growth. However, external factors are not the only elements which influence growth. There are also internal factors, components working within the organization which shape the direction of the company. The company’s marketing environment influences the business organization directly.
This includes the suppliers that deal directly or indirectly to the people within the business organization, the consumers and customers who demand for the products or services offered by the company, and other local stakeholders who influence the decision-making process or affected by the business decisions made by the business firm. As such, the marketing environment of a particular company describes the relationship between firms and the driving forces that control this relationship who are members of a specific industry wherein the relationship is local and the firm may exercise a degree of influence.
The situation analysis of KARA Fashion House is described according to two types of environment in exists in- 1. Micro Environment 2. SOOT 3. Macro Environment Situational Analysis Figure 1. 1 The Micro Environment The term micro-environment denotes those elements over which the marketing firm has control or which it can use in order to gain information that will better help it in its marketing operations. In other words, these are elements that can be manipulated, or used to glean information, in order to provide fuller satisfaction to the company’s customers.
This is accomplished through the manipulation of the variables over which a company has control in such a way as to optimize this objective. 1. 1. 1 The Four As’ and the marketing mix The Four As’ stands for: 1. Product 2. Price 3. Place 4. Promotion Product- is the market offering. The products KARA offers are exclusive scares, salsas zamia, branded cosmetics, Jewelry, suits, hand bags, shoes, kids wear and much more. All the products offered are of very high quality. Every product is carefully checked before putting into display.
Price- in this context price refers to each KARA product costs. Prices of these reduces are set on the basis of product quality, brands as well as market competitiveness. Place- the location of KARA Fashion House is a great advantage of it. Goulash is one of the most prime and posh area of Bangladesh. So KARA stands in very close distance of the target market. Promotion- the promotion and campaigns would following parts. 1. 1. Employee be describe De elaborately in the KARA Fashion has a very strong line of efficient employees.
They are highly dedicated towards works. For better Job involvement and Job satisfaction KARA pays them with a scale higher than the regular salary scale. Moreover, compensations, bonuses, health insurance, performance appraisals are also given in expectation of higher motivation. KARA has around 50 employees working in it. In maintains a great mix of both full time and part time workers whereas 20 are full timers and the rest are part timers. But regardless of everything else KARA ensures they are equally well behaved and helpful towards all the customers.
So in a sense, these highly efficient bunches of employees are the greatest resources of KARA Fashion House. 1. 1. 3 Supplier This consists of other business firms or individuals who provide the marketing firm tit raw materials, product constituents, services or, in the case of retailing firms, possibly the finished goods themselves. The buyer/supplier relationship is one of mutual economic interdependence, both parties relying on the other for their commercial well-being.
Although both parties are seeking stability and security from their relationship, factors in the supplier environment are subject to change.