Reference no: EM131429
Gather data on each of the variables and then based on a quantitative analysis, narrow your list down to two countries.
After doing excessive research, we found 10 markets that Zara is currently not operating in, but could work as potential Zara locations based on their -----------...
7) Virgin Islands
10) New Zealand
Zara is part of a multi-national conglomerate and it is operating in many countries worldwide. There are a total number of 1770 Zara stores world wide in regions of Africa, Asia, Central America and The Caribbean, Europe, North America, and South America. As we have learned from the previous sections of this paper, Zara is a trendy, fashion forward international company. Having a strategic plan that gets updated with changing factors is essential to a growing business. Zara has been able to maintain its image and brand name by always staying on top of their latest trends, offering affordable prices,and a key factor to today's success in the fashion world.
Zara operates like a Steve Madden; they don't make new clothes just bring styles to certain demographics: like H&M though they don't do collaborations with other high-end designers.
1) Population - Taking into consideration how many people live in the country is a key important factor to success. If a Zara were to open up in a deserted area, not many people would be coming in and profits would not be expanded. As Zara successfully has done, it has been located in the best-known streets of a town where there are a lot of people walk around and by other popular stores or restaurants. This way many people will pass by it and walk in. Zara is well known in Europe, and are open in areas were a lot of people live, as well as tourists who come and go.
2) Tourism - Keeping in mind where tourists locations are is important in business. Zara has many locations in touristic areas because that's where most people go shopping. Tourism is essential because that is where most customers are willing to spend. It is inevitable for tourists to walk around in well known streets of where they're visiting and buy clothing. Easy to reach by metro, walking, etc.
3) Variety of styles - When walking into Zara, there are many products and styles to chose from. Depending on the climate outside or the latest fashion trend, Zara will stay up to date and time appropriate with their products. Additionally, many people want to imitate celebrities so Zara will look to keep up to date with the latest fashion sense. There are many choices to chose from, varying from shoes to scarves, shirts, jeans, etc. If polka dots are in style, Zara will make sure to have plenty of polka dotted shirts. According to an article on Forbes "Zara delivers new products twice each week to its 1,670 stores around the world". Designs, produces, and distributes itself, not what many other apparel retailers do. It updates itself with the latest trends.
4) Building of infrastructure -
5) Keeping costs down - Zara keeps there prices at an affordable price where most consumers would be able to spend. They keep prices the same in all countries worldwide.
6) financial strategy-