Zara Brand Managament
Its name is well known all over the world, but it is very young brand in our country. Therefore, I took this brand in order to show how young and popular brand that recently came to the retail market is going to be developed, communicated and bring value to its Kazakhstani consumers. The first part of this work talks about the brand Zara itself. Mainly, about its history, internationalization, the brand uniqueness and quick speed to consumers demand, and how the Kazakhstani consumers feel and react to its name.
The second part of this report demonstrates the six general criteria of brand elements of Zara, the elements of being successful, POD/POP and, of course the consumer based brand equity pyramid of Kazakhstani consumers. Finally, the paper identifies the main competitors of Zara in the Kazakstani market. Though, the main competitors are United Colors of Benetton, Mango, Mexx, Celio and Oggi.
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It is done in order to clearly understand the future of this brand in Kazakhstan. Part I HistoryZara is the flagship chain store of Inditex Group owned by Spanish company tycoon Amancio Ortega, who also owns brands such as Massimo Dutti, Pull and Bear, Oysho, Uterque, Stradivarius and Bershka. The group is headquartered in a Coruna, Galicia, and Spain, where the first Zara store opened in 1975. It is claimed that Zara needs just two weeks to develop a new product and get it to stores, compared with a six-month industry average, and launches around 10,000 new designs each year.
Zara has resisted the industry-wide trend towards transferring fast fashion production to low-cost countries.Perhaps its most unusual strategy was its policy of zero advertising. The company preferred to invest a percentage of revenues in opening new stores instead. Zara was described by Louis Vuitton fashion director Daniel Piette as “possibly the most innovative and devastating retailer in the world. ” Zara has also been described as a “Spanish success story” by CNN. Its first store featured low-priced look-alike products of popular, higher-end clothing fashions. The store proved to be a success, and Ortega started opening more Zara stores in Spain.