Marketing plan for Harrods Essay Example | Topics and Well Written Essays - 3000 words

Marketing plan for Harrods - Essay Example While PESTLE will evaluate the external environment surrounding the fashion retailer in United Kingdom, Porter’s analysis will provide a deeper understanding of the fashion industry in United Kingdom and ways in which industry factors affect strategies and functioning of Harrods. SWOT analysis helped in evaluating internal strengths and weaknesses and external threats and opportunities. The major marketing objective of Harrods was to improve brand awareness and establish itself in the foreign market. The brand implemented an integrated marketing campaign involving all promotional and marketing activities. The IMC campaign consisted of advertising and media, promotional strategies as well as use of latest media strategies for maximum penetration. The current global fashion industry is defined by intensive competition as well as frequent implementation of creative marketing strategies and tactics. This is a direct result of increasing competition and necessity for creating a sustainable marketing advantage. Fashion industry consists of different fashion seasons, each characterized by new style or design of clothes. Nevertheless, these hyped fashion periods are short lived among fashion enthusiasts. Owing to the huge demand of fashion brands, control of the top fashion retailers over the industry is way more compared to political bureaucrats (Aaker, 2009). However, recent changes have witnessed a fall in demand for luxury fashion products. The current report will evaluate current positioning of Harrods and ways for the company to implement strategies for future growth and development. Harrods is a globally recognised upmarket departmental store established in Chelsea and Kensington, London. The brand has also diversified itself to other sectors such as, Harrods Estates, Harrods Bank, Air Harrods and Harrods Aviation. The stores in London are the biggest departmental stores in entire Europe with space of 20000 meter squares or 5 acres. The selling space