The Buying Cycle - ZARA Masculine Wool Blend Coat

MODULE: FMAN3000 FASHION BUYING MANAGEMENT
ASSESSMENT BRIEF: THE BUYING CYCLE - REFLECTIVE
LEARNING PORTFOLIO
Brand: ZARA
PRODUCT: ZARA Masculine Wool Blend Coat
Camel 2411/289
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Figures 1 & 2 – Images of “Zara Masculine Wool Blend Coat” (Zara.com, 2022)
Table of Contents 1.     Introduction. 3 2.     Strategy. 3 2.1.      Current trends. 3 2.2.      Competitor analysis. 4 2.3.      Websites. 6 2.4.      Social media. 7 3.     VRIO Framework. 9 4.     Boston Framework. 10 5.     SWOT. 11 6.     Market Research. 12 7.     Sourcing Strategy. 13 8.     Design Development 15 9.     Range Planning. 15 9.1.      Competition Shop. 15 9.2.      Basics and Fashion. 16 9.3.      Price Architecture. 17 9.4.      Range Plan. 18 10.       Sign Off 19 11.       Order placement 20 12.       Critical Path Management 22 12.1.     Sealing sample. 22 12.2.     Critical Path. 24 13.       Delivery. 25 14.       Final Analysis. 26 15.       Conclusion. 27 References. 28  
1 Introduction
The Masculine Wool Blend Coat is a stylish and practical outerwear piece designed to keep the wearer warm and comfortable in cooler weather. This product is part of a broader strategy to offer high-quality and fashionable clothing items that are both durable and affordable. The coat's design developments include a collared neckline, front welt pockets, and a button-up front, which make it a versatile addition to any wardrobe.
The wool blend material used in the coat's construction provides excellent insulation, making it an ideal choice for cold climates. Overall, the Masculine Wool Blend Coat is a testament to the brand's commitment to producing functional and fashionable clothing items accessible to a wide range of customers.
Accordingly, this report will show how this product was successfully designed, launched, and executed in relation to internal and external market circumstances.
2 Strategy
1 Current trends
It is likely that the Masculine Wool Blend Coat was created with current trends in mind, both in terms of color and design. Forecasting and prediction analysis may have been used to determine what colors and styles are popular among consumers and identify potential brand opportunities.
Camel is a color trending in recent years, with many fashion designers incorporating it into their collections. In fact, this is one of the most commonly used colors in high-end fashion shows, including MaxMara and Fendi show (Rimmers, 2022). This neutral, earthy tone is versatile and easy to wear, making it a popular choice for outerwear items like coats and easy to pair with other related colors (Figure 1). The brand is tapping into this trend by offering the Masculine Wool Blend Coat in Camel and providing customers with a fashionable and on-trend option.
Figure SEQ Figure \* ARABIC 1 - Strong Neutrals to Y2K-Inspired brights | Complementary tones with Camel (Rimmer, 2022)
In terms of design, the coat's collared neckline and button-up front are classic features that have remained popular for many years (Kershaw, 2021). However, adding front welt pockets is a more modern touch that adds functionality and style to the coat. Combining classic and contemporary elements makes the Masculine Wool Blend Coat's design timeless and trendy (D2LINE Blog, 2022).
Overall, it is likely that forecasting and prediction analysis played a role in the creation of the Masculine Wool Blend Coat, helping the brand to identify critical trends and design features that would appeal to consumers.
2 Competitor analysis
The Masculine Wool Blend Coat faces competition from other brands offering similar outerwear items. One of the brand's main competitors is likely to be Zara, which offers a range of wool blend coats in various colors and styles. Zara's coats are more fashion-forward, with trendy details like oversized lapels and bold patterns. However, they may be less durable and offer a different level of insulation than the Masculine Wool Blend Coat.
H&M Wool-blend coat
$99.01
N/A
4 color options
Shell: Polyester 58%, Wool 37%, Polyamide 3%, Acrylic 2%Lining: Polyester 100%
Burberry Wool Cashmere Tailored Coat
$2124.49
UK Size – 44-60
2 color options
Outer: 95% wool, 5% cashmere
Undercollar: 70% wool, 20% polyamide, 10% cashmere
Lining: 60% cupro, 40% cotton
Sleeve lining: 50% acetate, 50% cupro
Ralph Lauren Wool-blend Double-Breasted Coat
$289.99
UK Size – 33-45
1 color option
Shell: wool, nylon. Lining: polyester, elastane.
Figure SEQ Figure \* ARABIC 2 - Competitor Analysis for H&M, Burberry, and Ralph Lauren
Another potential competitor is H&M, which offers a range of wool blend coats at a similar price. H&M's coats are often more minimalist, with fewer details and a more streamlined silhouette. However, they may not be as warm as the Masculine Wool Blend Coat and may not be as suitable for colder climates.
In terms of higher-end brands, the Masculine Wool Blend Coat may face competition from labels like Burberry and Ralph Lauren, which offer wool blend coats in a range of classic designs and colors. However, these coats are typically much more expensive than the Masculine Wool Blend Coat and may be out of reach for many customers.
Overall, the Masculine Wool Blend Coat faces competition from a range of brands that offer similar types of outerwear items, each with its own strengths and weaknesses. By focusing on quality, affordability, and timeless design, the brand can differentiate itself from competitors and appeal to a wide range of customers. This is in line with Zara's differentiation strategy, which "focuses on the average shopper that wants the latest fashion items at affordable prices” (Avada.io, 2022).
3 Websites
The Masculine Wool Blend Coat webpage was likely designed with a focus on simplicity, functionality, and user experience (Figure 3). The layout is likely to be clean and uncluttered, with high-quality images of the coat prominently displayed. The webpage may also include detailed information about the coat's features, materials, customer reviews, and sizing information.
Figure SEQ Figure \* ARABIC 3 - Webpage design of the Masculine Wool Blend Coat
The strategy behind the webpage design is likely to be aimed at making the purchasing process as easy and seamless as possible for customers. This may include a clear call to action to encourage customers to add the coat to their shopping cart (i.e., “Add to Bag”) and easy-to-use navigation tools that allow customers to browse related products or access customer support if needed.
In comparison to the webpages of its competitors, the Masculine Wool Blend Coat's webpage may be more straightforward and focused on the product itself rather than incorporating a lot of additional features or distractions. Zara's webpage, for example, may include more elaborate product photography and a more comprehensive range of suggested products, while H&M's webpage may have more detailed product descriptions and customer reviews.
Ultimately, the strategy behind the Masculine Wool Blend Coat's webpage design will likely be aimed at making the product as attractive and accessible as possible to potential customers while providing them with all the information they need to make an informed purchasing decision.
4 Social media
Zara is known for its strong social media presence, with a focus on Instagram and Facebook. As of March 2023, Zara's Instagram account has over 56.9 million followers, its TikTok with 6.7 million followers, and its Facebook page has over 30.8 million likes. These numbers indicate a large, engaged audience interested in the brand's products and content.
Zara’s Instagram Account
Zara’s Facebook Account
Zara’s TikTok Account
Figure SEQ Figure \* ARABIC 4 - Zara's Social Media Accounts | Facebook, TikTok, and Instagram
Zara's social media strategy focuses on showcasing its latest collections and trends and engaging with its audience through user-generated content and interactive features like polls and quizzes (Tőkés, 2022). The brand's Instagram feed is carefully curated with high-quality images of its products and models, often presented in a visually striking way with bold colors and creative compositions. Zara also uses Instagram Stories to share behind-the-scenes content and sneak peeks of upcoming collections, which helps to keep its audience engaged and interested.
Zara's Facebook page is similarly focused on showcasing its latest collections and trends and highlighting brand values like sustainability and diversity. The page includes images, videos, and links to Zara's website and blog.
Zara's social media strategy is successful in terms of engagement, with its posts regularly receiving thousands of likes and comments. The brand also actively engages with its audience by responding to comments and messages, which helps to build a sense of community and loyalty among its followers.
Overall, Zara's social media strategy focuses on creating an aspirational and engaging image for the brand while showcasing its latest collections and trends. By using high-quality visuals, interactive features, and engaging with its audience, Zara has built a large and dedicated following on social media.
3 VRIO Framework
The VRIO framework is a tool used to analyze the resources and capabilities of a company or product. Here is a short VRIO analysis for the Masculine Wool Blend Coat:
Value
Rare
The Masculine Wool Blend Coat has value as a high-quality and stylish outerwear item suitable for various occasions. Its wool blend material provides warmth and durability, while its classic design makes it a timeless piece that can be worn for years.
While wool blend coats are standard in the fashion industry, the Masculine Wool Blend Coat may be rare due to its specific design and quality materials. The coat's classic and versatile design sets it apart from trend-driven outerwear items, and its wool blend material may be rarer and more durable than other synthetic materials.
Imitability
Organization
While other brands may be able to create similar wool blend coats, it may be difficult to imitate the Masculine Wool Blend Coat's specific design and level of quality. The coat's unique features and construction may require specialized knowledge and resources to replicate.
The Masculine Wool Blend Coat's value, rarity, and difficulty to imitate are likely due to the organization's focus on quality materials and timeless design. The company's attention to detail in the production process and expertise in sourcing high-quality materials have allowed it to create a coat that stands out from competitors.
Figure SEQ Figure \* ARABIC 5 - VRIO Framework for the Masculine Wool Blend Coat
4 Boston Framework
Market Growth: The market growth for wool blend coats is considered stable, as this type of outerwear is a classic and timeless item always in demand. While there may be fluctuations in the market due to seasonal trends, the overall demand for wool blend coats is not expected to experience significant growth or decline.
Relative Market Share: The Masculine Wool Blend Coat's relative market share is likely low, as it is a specific product item within the company's more extensive product portfolio. However, its quality and design help it to stand out from competitors and capture a loyal customer base.
Based on the Boston Framework, the Masculine Wool Blend Coat would likely be considered a "Cash Cow" product for the organization. This means that while it may have little growth potential, it can provide steady revenue and profits due to its stable market demand and loyal customer base. The organization can continue to invest in and promote the Masculine Wool Blend Coat to maintain its market share and profitability while using its resources to develop other products with higher growth potential.
5 SWOT
Here is a short SWOT analysis of the Masculine Wool Blend Coat:
Strengths
Weaknesses
* High-quality wool blend material that provides warmth and durability
* Classic and versatile design that can be worn for years to come.
* Front welt pockets for added functionality and convenience.
* Button-up front for a secure and polished look
* Relatively high price point compared to some other outerwear options.
* Limited color options may appeal to only some customers.
* It may not be suitable for extreme weather conditions due to the wool blend material.
Opportunities
Threats
* Expand color options to appeal to a broader range of customers.
* Offer customization options to allow customers to personalize their coats.
* Explore partnerships with other companies or influencers to increase brand awareness and reach new customers.
* Develop complementary products, such as scarves or gloves, to create a complete winter outfit offering.
* Competitors are offering similar wool blend coats at lower price points.
* Changes in consumer preferences or trends toward other types of outerwear
* Economic downturns or other external factors may impact consumer spending on luxury items.
Figure SEQ Figure \* ARABIC 6 - SWOT Analysis of the Masculine Wool Blend Coat
Overall, the Masculine Wool Blend Coat has several strengths in terms of its quality, design, and functionality. However, it also faces some weaknesses and threats that the company should be aware of in order to maintain its market position and profitability. By exploring opportunities such as customization and partnerships, and proactively addressing potential threats, the organization can continue to build on the strengths of the Masculine Wool Blend Coat and remain competitive in the outerwear market.
6 Market Research
The market for wool blend coats is expected to continue growing steadily due to their timeless and versatile appeal. According to a survey by Statista in 2021, wool was the most preferred material for winter coats among consumers in the United States, with 42% indicating a preference for this material (Statista.com, 2023). The global wool blended fabrics market is also projected to grow at a CAGR of 6.8% from 2021 to 2028, according to a survey by Grand View Research in 2022 (Market Research Future, no date).
On the other hand, Zara is a Spanish clothing and accessories retailer with over 2,000 stores worldwide. Zara is known for its fast fashion model, which emphasizes quick turnaround times for bringing new designs to the market. The company's target demographic is young, fashion-conscious consumers who value affordability and trendiness. According to Statista, Zara's revenue in 2022 was over 32.6 billion euros, which “posted a 27% net profit increase in 2022 and up by 18% on the year and 15% higher than in 2019
making it one of the largest apparel companies in the world” (Reuters, 2023).
The information above shows a stable market for wool blend coats, and Zara has a strong market presence and customer base. However, providing more detailed insights or segmentation analysis without specific market research data related to the Masculine Wool Blend Coat or Zara's overall performance in the outerwear market is difficult.
7 Sourcing Strategy
The sourcing strategy for the Masculine Wool Blend Coat will focus on the manufacturing costs, reducing them to maximize profitability while meeting the demand for the product, with 500 units of the product. The cost of materials, labor, and transportation will be critical factors in determining the final cost of the coat. To reduce manufacturing costs, Zara can explore several strategies, such as:
* Sourcing Materials: One way to reduce manufacturing costs is by sourcing materials from suppliers that offer high-quality materials at a lower cost. Zara can leverage its global network to find reliable suppliers of wool blends that offer competitive prices.
* Production Efficiency: Zara can optimize production processes to reduce labor costs and increase efficiency. By investing in technology and automation, they can minimize the time and labor required to produce each coat, thus reducing costs.
* Transportation: Another factor that affects manufacturing costs is transportation. Zara can minimize transportation costs by sourcing materials and manufacturing the coats in close proximity to each other, reducing shipping and handling costs.
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