1.0 Scope of Project
As a person with knowledge of international fashion market, the author has always brought up to his superiors the viability of strategy formation regarding the analysis of these topics and at times fail to understand the reasons or logic behind certain strategic implementations imposed on it.
By delving into this project paper, the author intends to have better insights into how the fashion perspectives of Taiwanese designers vs. Western designers are thought up, formulated and then imparted down into its subsidiaries of the fashion companies. The author hopes to have an in-depth understanding as to how the fashion perspectives of Taiwanese designers vs. Western designers enable fashion companies to compete effectively and profitably in this era of internationalization where competition is extremely intense.
This project serves with two major parts. The first part gives a literature review on the definition of ”International Fashion Market” – the marketing strategies, concepts, how important it is for today’s fashion companies surviving in an ever-changing business environment, how it is developed in order to successfully achieve the company or organization’ objectives or missions. The second part of the project will be applying the fashion perspectives of Taiwanese designers vs. Western designers into real practices, which generates a case study of two renowned fashion companies in Taiwan and the West: Giordano and Tommy Hilfiger.
In order to reinforce the scope of this project, two key focal issues were focused upon, i.e. innovation and diversity. Innovation was discussed with regard to the fashion perspectives of Taiwanese designers vs. Western designers where they renowned for their development and manufacturing capabilities to constantly innovate. Diversity came under strategic thinking and formation as the author considered the diverse culture, political climate, economic surroundings, social environment, technological settings, government policies and legal systems in order to better understand the issues being discussed.
1.1 Overview of the International Fashion Market
The international fashion market over the years has developed an efficient and effective process of implementing the policies and tasks necessary to satisfy its consumers and management of companies and organizations. There has been a recent focus on the careful management of the processes involved in the production and distribution of fashionable products and services within the industry (Jobber, 1998).
More often than not, small fashion companies don’t really have the capabilities to implement international marketing strategies. Instead, these companies engage in activities that various schools of management typically associate with implementing integrated marketing strategies. These activities include the manufacturing of creative fashion products, product development, production and distribution.
However, the international fashion market deals with all operations done within companies and organizations. Activities such as the management of purchases, the control of inventories, logistics and evaluations are often related with operations management. A great deal of emphasis lies on the efficiency and effectiveness of processes. Therefore, the international fashion market includes the analysis and management of internal processes.
Tommy Hilfiger and Giordano Taiwan will be the model business entity that will be used in this research based on their excellent history in the international fashion market.
1.2 Case Studies: Giordano Taiwan vs Tommy Hilifger (WEST)
1.2.1 Giordano
Giordano Taiwan is one of the world’s leading fashion and clothing line companies in terms of profit and sales volume. The company has also the widest presence among all international companies. This is made possible through a positioning strategy of global networking of distributors.
Giordano Taiwan uses the name of both the company and its mainstream fashion labels, and this strategy has allowed the company to pursue an integrated marketing approach directly related to the company name. There are also a variety of marketing strategies available that Giordano Taiwan could make use of in order to control all of their promotional activities. When used appropriately, these marketing strategies will be able to help to consistently disseminate the valuable information that they want to convey to their valued consumers.
However, certain points have to be taken into consideration by Giordano Taiwan regarding the perspectives of their designers. Since their income is relatively higher than most of their competitors, the time for implementation of the clothing designs of their designers would take longer than usual, aside from being expensive. But since the goal of Giordano Taiwan is towards a long-term dominance and stability in the fashion industry, then the pursuit of these clothing designs will be beneficial for the company in the long run.
1.2.2 Tommy Hilfiger (UK)
Tommy Hilfiger aims for sustainable growth as a broad market leader in UK’s fashion industry as well as for segment leadership. In both cases, the Hilfiger clothing brands will play a crucial part. Tommy Hilfiger is able to establish its broad leadership usually by acquiring other strong clothing companies and their products, which are then combined into a new, larger company. Offering training to its employees, improving the company operations, and the introduction of new technologies then reinforces the positions of the various Tommy Hilfiger products. This practically results in economies of scale that is able to create a distribution network for both the local and international Hilfiger products. If a market is already in the control of other clothing companies, Tommy Hilfiger devotes its attention towards the development of a premium segment with its various clothing products.
The mission of Tommy Hilfiger is to secure the growth of the business in a sustainable manner, while at the same time constantly improving the company’s profitability. The strategy to achieve this involves four elements:
2.0 Methodology
The literature review on the fashion perspectives of Taiwanese designers vs. Western designers of this project will be obtained from a mass reading of textbooks and learning materials from the MBA course, as well as the insights from some recent articles on the international fashion market and planning written by the Management of Tommy Hilfiger and Giordano.
For this study, the descriptive method will be utilized. In this method, it is possible that the study would be cheap and quick. It could also suggest unanticipated hypotheses. Nonetheless, it would be very hard to rule out alternative explanations and especially infer causations. Thus, this study will use the descriptive approach. This descriptive type of research utilizes observations in the study.
To come up with pertinent findings and provide credible recommendations, this study will utilize two sources of research: primary and secondary. Primary research data will be obtained through this new research study. Questionnaire survey and in-depth interview will be conducted. On the other hand, the secondary research data will be obtained from previous studies on the same topic.
3.0 Data Sources
Data shall be collected from multiple sources, allowing for a number of different perspectives to be taken into consideration in the development of the recommendations.
The data sources that will be examined include:
· A review of the appropriate research literature. This includes examining studies where international fashion market and the perspectives of designers had been used either in a research or organizational setting. Both technical articles and “how-to” articles were included in the review;
- An examination of the practices of Taiwanese and Western designers.
- Focus groups and interviews with the senior and junior designers of Tommy Hilfiger and Giordano Taiwan.
Credit:ivythesis.typepad.com
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