Beruflich Dokumente
Kultur Dokumente
Yi Cheng Huang
Fashion Business Year 2
Group 3
Student Number: 017736
Istituto Marangoni London
TABLE OF CONTENTS
02. INTRODUCTION 08
07. APPENDIX 44
08. BIBLIOGRAPHY 48
5
01.
EXECUTIVE SUMMARY
UNIQLO is a Japanese fashion
retail brand that focus on
“Comfortable Everyday Clothing,
Made for all”
(Fast Retailing AR, 2014).
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02.
INTRODUCTION
In 1894 UNIQLO Co., Ltd. opened it first store in Japan as a Specialty store
retailer of Private label Apparel (SPA) model owned by Fast Retailing CO.,
LTD (FR) (Fast Retailing-About FR, 20151), as it opened in the UK in the year
2001 (Fast Retailing-Company Instruction, 20152) and now it operates globally
with about 1485 stores in 16 different countries (Fast Retailing-Overview of
Business segments, 20153). UNIQLO is a Japanese clothing brand for casual
wear with high-quality texture but with reasonable price (Fast Retailing-About
FR, 20151). But not only raising in the number of stores, as stated by Fast
Retailing AR (2014) there is a strong increases in net sales 21% (£1319.48).
However, Fast Retailing also owned other brand such as GU, Theory, PLST, J
BRAND, PRINCESSE tam-tam and COMPTOIR DES CONTONNIERS,
these brands stores were opened either in USA, Japan, France and China. (Fast
Retailing-Global Brands, 20154)
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03.
STRATEGIC AUDIT
According to Easey, M (2009, p.240) in order to accomplish marketing
objectives, there will be needed of marketing goals, operations and
performance that is known as marketing audit of the company. The marketing
audit is usually divided into two main categories, which are micro and macro
marketing environment.
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STRATEGIC AUDIT
Micro-Marketing Environment
• Competitors:
The competitors are identified by strategic group suggested by Aaker (2007,
p.59), to be more detailed about the competitor and easier to be compared that
is by looking at this two tables following- SWOT and price point analysis.
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Cashmere
Brands Leggings T-Shirt Blazer
Sweater
UNIQLO £9.90 £9.90 £59.90 £29.90
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STRATEGIC AUDIT
• Suppliers:
• Manufacturers:
UNIQLO has factories through out the global in China, Vietnam, Bangladesh
and Indonesia, also production offices in Shanghai, Ho Chi Minh City, Dhaka,
Jakarta and Istanbul. (Fast Retailing AR, 2014)
• Intermediaries:
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• Consumer
The understanding of consumer’s needs in their lives so, we can satisfy them in
the future. Also to increase customer acquisition by attracting and drives them
to buy their first purchase in UNIQLO. On the other words, identifying unmet
needs of customer it can help the company to increase market share or creating
a new market (Aaker, D. 2007, p. 50). Moreover, UNIQLO has a customer
centre where they can receives massive of comments and requests on
improving products, stores and service, according to Fast Retailing’s Annual
Report (2014) they receives more than 100,000 comments per year, which is a
big amount of recommendations that allows UNIQLO understanding
consumer’s wants and needs.
• Public
Sorensen, C. (2009, p34) said that the public could be either an impact or
favour for the company’s successes, such as financial, media, government
publics and pressure group. Financial publics is important as it affects on
funding for the company, if we need a bank loan then we need to provide
favourable payments option in return, or whether or not any Publics wants to
invest in UNIQLO, it all depends on the financial statement such as Income
Statement, Balance Sheet and Cash Flow and you can see in Appendix 1-3.
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STRATEGIC AUDIT
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Macro-Marketing Environment
Political
The globalisation bring UK and Japan closer and lots of companies are starting
P
to target same market and customers which as a result causing an increase in
mutual interests and concerns as each apparels will wants to survive in the
market.
Economical
The issues for having a business in the UK after the recession is that many
E
local customers’ buying decisions are becoming more price conscious and will
prefer to purchase a good quality with good value.
Social
UNIQLO is a Japanese fashion apparel and the culture is very different
S
compare to UK, however, their culture, food, fashion, art and design has been
an increasing impact globally, for example the Japanese Tokyo style.
Technological
Legal
The integrated tariff, duties, Intrastat and intellectual property (IP) in the UK,
L
also need to consider the children regulation such as the nightwear (Safety)
regulations and the children’s clothing (Hood Cords) regulations when
importing in. (Government UK, 2013)
Environmental
E
In 2012 Ashulia fire and in 2013 Savar building collapse in Bangladesh, now
the sewing factories and fabric manufacturing plants are monitored by external
institutions specialised. (Fast Retailing AR, 2014)
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STRATEGIC AUDIT
18
Figure 4: UNIQLO review website
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STRATEGIC AUDIT
W
economical and legal problems
• Not all of the products are available online
• Doesn’t advertise all collaborations, such as with LEMAIRE, which I
found in UK webpage (UNIQLO WEB NEWS. 2015)
• Too much layers in distribution channel
• Using virtual advertising and social media, it increases UNIQLO’s
brand image and engaging with new customers
• High opportunity in campaign as collaborates with variety sports events
O
and celebrities
• UNIQLO uses E&M-commerce
• UNIQLO opening more stores in European Zone
• New stores in the UK big city such as London
• UNIQLO could introduce maternity product ranges
• Increase the competition from local fashion companies, such as Gap,
United Colors of Benetton and American Apparel
After analysing the strategic audits that includes micro and macro-marketing
environment, customer perception towards the brand and SWOT that helps to
develop strategic option, which is opening a new concept store in London, as in
Fast Retailing annual report also stated that they are expanding the market into
U.S. Market also new UNIQLO stores in Europe and global centres.
MARKETING PLAN
Marketing Strategy
The strategy will be formulated based on the Ansoff matrix (1957, cited by
Kotler et al, 2010). My marketing plan for UNIQLO is to meet ‘Market
Penetration’, as the company already entered UK’s market with the products
that mostly has been selling in every country, however, the plan is to open a
new concept store in London to increase revenues for the company and to
delivered UNIQLO ‘s customers’ needs and wants.
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04.
MARKETING PLAN
develop strategic option, which is opening a new concept store in London, as in
Fast Retailing annual report also stated that they are expanding the market into
U.S. Market also new UNIQLO stores in Europe and global centres.
MARKETING PLAN
Marketing Strategy
The strategy will be formulated based on the Ansoff matrix (1957, cited by
Kotler et al, 2010). My marketing plan for UNIQLO is to meet ‘Market
Penetration’, as the company already entered UK’s market with the products
that mostly has been selling in every country, however, the plan is to open a
new concept store in London to increase revenues for the company and to
delivered UNIQLO ‘s customers’ needs and wants.
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MARKETING PLAN
Segmentation:
• Demographics
o Age: 18 – 38 years old
o Gender: Female and Male
o Occupation: Undergraduate & above, Working adults
o Disposable Income: £500 and above
o Location: Urban area
• Psychographics
o Perception: UNIQLO as upper class casual wear brand and
consider that clothing is important for appearance
o Learned: Advertisement (catalogues, emails, London
underground advertising), Internet, family and friends.
o Needs: High quality with reasonable price
o Personality: Fashion conscious
o Lifestyle: Casual, healthy and daring
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Positioning:
As I mentioned in the
competitor’s price point table
before, UNIQLO has position
itself at lower prices on their
products compare to the
others companies, however
according to porter prize
(2009) UNIQLO’s has their
value propositions are firstly,
each products are treats as
components, to be mix match
with other pieces, secondly,
to be high quality with lower
prices also the brand keep
introducing new features, for
example the AIRism and
HEATTECH clothes.
The table shows the ranking of each fashion industry and the sales they earned
also the percentage changes, as you can see UNIQLO has earned about £7.4
Billions at the end of August 2014 and it increase about 21% on a local base,
which means UNIQLO is doing really well comparing to GAP its main
competitor.
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MARKETING PLAN
Marketing Mix:
• Product Strategy
In order for the company to earn profits- ‘product strategy’ is the most
important part because it is very tangible and it represents the brand, stated by
Jackson et al (2009, p.87). However, in the new London concept store we will
provide the same innovative and unique design ranges with other stores that
exit in London, such as UT &UL line, AIRism, HEATTECH and so on.
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The collections made by excellence technical machines that are
surprisingly lightness with unexpected level of warmth, also produce for
water proves products that is called-Ultra Light Down.
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MARKETING PLAN
• Place Strategy
Advertising can help the company to boost the awareness of every activity that
is going on. Firstly the direct mail for loyal customer who had sign up for
newsletters and catalogues either by post or email, so that customer gets inform
immediate and they won’t lost the information or misread of the news.
Secondly is through advertising on transportation such as underground and bus
with big visual image of the new concept store information, because there are
lots of people taking tubes and buses to go to work, home or other places. Also
advertise in magazine such as Vogue. Lastly but not least, that is using
UNIQLO’s social media platform, which includes, Facebook, Instagram,
Twitter, Pinterest, google+ and YouTube channel to provide a video clip of
new concept store interior design.
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Figure 8: Covent Garden (visitlondon.com, nodate)
• Process strategy
UNIQLO could provide such high quality clothes with reasonable prices are
because of using the SPA (Specialty store retailer of Private label Apparel)
model, as you can see below is the diagram of the three stages flow from
planning, production to sales. The company providing the best materials in the
world through negotiating directly with materials manufacturers and bulk
buying at low cost, then producing unique and good quality clothing for their
customers which will be available either in-store or E-commerce to purchase.
Afterwards, UNIQLO will gather information from customers’ complaints or
suggestions through their customer centre to develop new ideas or services in
the future to satisfy consumers’ needs and wants.
FIgure 10: UNIQLO Business Model
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• Physical Evidence
The concept store opened in Paris April 2014, design by Tokyo’s architecture
WONDERWALL that integrated Japan and France culture very significant for
customers to enjoy the visual and the fashion clothes at the same time.
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MARKETING PLAN
For the new concept store in London I would use the same designer as the team
understand the company well so it would be easier for them to design another
concept store, however, I would like to show the ‘UNIQLO’ brand
characteristic that gives customers of strong feeling when they walk in side the
store in Covent Garden, London.
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Figure 12: London Concept Store
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MARKETING PLAN
39
MARKETING ACTION PLAN
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Figure 21
Figure 22
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06.
EVALUATION AND
CONTROL
The evaluation and control stage focuses on analysing either in quantitative
and/or qualitative metrics associated based on the implementation, aims and
objectives for the company’s marketing plan. (Grunert, J, no date)
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07.
APPENDIX
Figure 23: Income Statement
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APPENDIX
49
BIBLIOGRAPHY
WEBSITES:
• Fast Retailing. 20151: About FAST RETAILING. [Online].
[Accessed on: 28th March 2015]. Available from:
http://www.fastretailing.com/eng/about/business/aboutfr.html
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• Government UK. 2013: Import and export clothing, footwear and
fashion: international trade regulations. [Online]. [Accessed on 3rd
May 2015]. Available from:
https://www.gov.uk/clothing-footwear-and-fashion
• Porter Prize. 2009: Fast Retailing- 9th Porter Prize Winner Apparel
Retailer. [Online]. [Accessed on: 2nd May 2015]. Available from:
http://www.porterprize.org/english/pastwinner/2009/12/03114807.
html
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BIBLIOGRAPHY
IMAGES:
• Figure 1: Sorensen, C. (2009): The Fashion Market and the
Marketing Environment. In Easey, M. 3rd ed. Fashion Marketing.
Oxford: Willey-Blackwell
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• Figure 11: UNIQLO France Store. 2015. By Huang, Y. [Accessed
on 26th April 2015]
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