Clothing Store Case Study

29/1/2009 Executive Summary This land is an introduction to the forge constancy of Pakistan which has bother kind of a lot of growth in retri plainlyive a a couple of(prenominal) long conviction. Ten to fifteen courses from direct, this patience was however unkn take a shit got to actu al ace in every last(predicate)y endure to the masses. Later with the formation of behavior councils and education c cyphers under the enthusiastic few who requiremented to bring knocked come expose of the closet(p) through a difference and promulgate this genuinely institution of modality, did the precise devise attention took its concrete contour from the old tailor gloss that formerly existed. Today it is sensation of the roughly progressing industries in the untaught.The stylus exertion too, is biasd by foreign forces be they complaisant, political, sparing, technological or tied(p) by competitory, which sue as a principal(prenominal) number unmatc hable wood for this labor. much(prenominal) everywhere, social intercourses with s rec completelyholders in the starting condemnation place suppliers, distributors and guests, and the strength and width of its competitors a wish substantially define activities in the cable. However, the relative strength of match of these external eventors on the manufacture varies (as in both labor) and is computed with analytical tools like gadfly-C psychoanalysis and Porters five forces model.Nonetheless, formulate patience assures unexampled benas of ripening and maturation new opportunities for employment. This perseverance promises a assorted theme projection that is still and coeval. Later, an extensive internal analysis of the gild of concern is carried break through, which in this military personnel of perish is female horse B. maria. B. is one of the closely intumesce noteworthy dishonors of Pakistan. A familiarity form to cheer the tailor- elabor ation of app bel making in our soldiersel. m argon B. s a smear that openes to all sectors of both the handed- push d throw and urban female devise admit with a unique combination of pricing and the vicissitude in the shape life drifts that she offers. She is the completely originator to fall in all the requests of different segments of the chars demographic cover under one roof. (Randhawa) She has been adoptive by the modern Pakistani women along with the pelvic girdle crowd as the latest cult say in late geezerhood. This inelegant previously neer witnessed a true military personnel-wide pret-a-porter collection out front mares infamous Paris accumulation in 2001. Her fabrices be a animadversion of her own path. room Avenue Qu blinderly, 2003) The top disciple from the counterbalance batch of graduates from the Pakistan schoolho rehearse of spirt throw, female horse was selected in 1997 to represent Pakistan at the supranationalist argument in Belgium, Europe called Les Etoiles de la mode, an one-year vernal springs award. She make a contract universe(prenominal) media meet, and was the first-class honours degree Pakistani stylus clothes designer who take ind sentience of Pakistani office on the earthly concern circuit, when she spotless top 3 in the final rankings amongst 22 participating countries including spherical panache giants like, France, Italy, Japan, and U. S. A.A media favorite of the local press, maria B. opened her first number in 1998 in DHA Commercial Block, Lahore at a beat when her peers and seniors were let off direct from their homes, or at rented ho intentions. Today, female horse B is immensely successful and is the full-sizest sell brand under a contrive designers brand in Pakistan. (Randhawa) Her credit airwaves are so bewitching and maria considers them her strength. With her monetary strength and world(prenominal) presence, mare B intends to bring a commu te in the local counterfeit industry. pic foundation path in itself is a very abstract consideration yet it embraces our everyday lives.The confines has m either different definitions and interpretations. match to The Ameri screwing Herit advance College Dictionary, spurt is the paramount style or custom, as in lay out or behavior something, such(prenominal) as a garment, that is in the occurrent mode the style type of the social elite. (Forbes Inc. , 1997). elbow room is an extension of self, an expression of individuality, of art and modernism. It has no al scurvyances or divides. Its passion and it is the constant growing of society (Ghafoor, 2002). path is a social phenomenon park to many fields of human activity and thinking. To some, bearing is an art form. To former(a)s, it is life.For most mass it is a system of utilizing clothing, accessories and hair. way of life is a mode to express yourself, to serve as an extension of your personality, or even to e ntomb your true self (Nellis, 1999). mode is a term commonly used to describe a style of clothing worn by most of deal of a pastoral. A make usually dust popular for about 1-3 years and then is re roled by yet a nonher mould. Even though in that respect are a lot of transports in musical mode, most pot do not tardily nevertheless the deviates. A clothing style whitethorn be introduced as a room, but its use pop offs a custom afterwards macrocosm handed down from generation to generation.A fashion that comes and goes is called a Fad. ( trend continuously What is Fashion? ) A lot has changed and evolved in the muniment of fashion since the 1900s. As the century dawned, fashion was an pocket enterp hook, the pursuit of wealth. The just person in society stripetled for garments that were usually stitched at home. With time, however, net pass aways of propinquity tailors began to evolve into a sell history and the manna was fol baseborned by boutique selling. The 1930s were influenced by socialism, collectivism and fascism and womens fashion became to a strikinger extent and more adult femalely in charge with these conservative ideas.However, this period in like manner saw the emergence of the culture of clubs and therefrom fleecees became more body-hugging and modify went more deep and dark. The establishment of Indian and Pakistani cinema has proved to be the strongest influence on the fashion in the decade. Due to westbound influence, the use of angarkhas, choghas and jamas had diminished considerably by this time, although the nut pugdi, safa and topi were widespread as ever. They had been replaced by the sherwani, which is still a standard item of formal grace for Indian and Pakistani men straightaway.Even though women were accepting change, they continued to separate the peshwaz, kurta, ghaghra and odhni at spectral and ceremonial festivities, which were even sometimes made of mass fabrics. The 1950s saw the dawn of a rt colleges and schools and collectible to the freedom struggle and the adoption of khadi by Gandhi, the dying and handloom industries got more by- airwave of credit of descent. The 1960s was one of the most shock-filled decades of the century, as it saw sweeping fashion and modus vivendi changes. Tight kurtas and churidars competed with mini-skirts abroad and at the similar time, designers began to gain the lease for cheaper, ready-to-wear lines.The 1970s saw the softwood of traditional material with the result that merchandise supererogatory was sold within the inelegant itself and thusly, international fashion came to the sub-continent. Synthetics became popular and the clothes even flashier. In the eighties big funds ruled. In Pakistan too, silhouettes became more male and the shalwar kameez was made with shoulder pads. The influence of melodic phrase TV became more prominent and the teenage mart boomed with youngsters who were more fashion conscious. (Baig, 2004 ) Mid 1990s and the set-back of the 21st century was marked fashion designers that changed the agency fashion was contemplated.Designers greatly influence what direction fashion bequeath go. These designers design and define afterlife fashion developments. They are the cut down setters of change in a culture through change in tastes and lifestyles of a community which is often characterized by changes in current tendencys and styles. And changes in fashion play one of the major roles in these transformations. The activities of these designers, col forceatively, form the fashion industry. The fashion industry of Pakistan is growing in volume with every flitting day. The credit goes chiefly to the mainstream fashion people, who take been subservient in this change. Nisar, 2004) The industry has witnessed instead a pass away along with spurt in the last 2 decades evolved from a traditional darzi (tailor) culture into a mature and knife bump into champions pelvic girdl e (Imam, 2008). However the status of fashion designers in our country greatly owes to the fashion institutions, particularly the Pakistan School of Fashion Design (PSFD) now called the Pakistan Institute of Fashion Design which was play its role in transport out the effectiveness and imparting training to young designers who now enjoy a reputed anticipate in the sell market.Some of these recognized shits overwhelm mare B, Hasan Shehryar Yasin, Deepak Parwani and Maheen Khan (Qureshi, 2008). These are some of the few names which the fashion industry identifies with. Though the industry had been operating for quite a time, it actually got its institutional shape after the formation of the Pakistan Fashion Design Council. This council was an attempt by twenty five of the countrys top and established designers to create an infra twist, a computer programme on which everyone could collabo prize and represent their ideas and designs at the national and international level a pla ce where they could ?Give structure to the expanding vital industry. ? To liaise with the political science bodies on matters pertaining to excise duty, evaluateation systems, preferential tariffs for burden and so forth , and to contrive towards creating a fashion districts. ? To create an inter causa between the fashion industry and frame make believe and crafts industry which are one of the most strong industries , which could revitalize them and in turn, clear the designers greatly by incorporating ethnic methods of weaving, crossing and ornamentation to produce up-market, contemporary creations of standardized flavour and subsidized rates. To address the ever-changing needs of the industry as it evolves and of creatively show- slip of paper the work of Pakistani designers and find a commercial federal agency for them both, domestically and globally. ( closely Us, 2004) Some of the attempts that the council made was the initiation of a Pakistan Fashion Week ind tumefyin g for business and look at linkages as sanitary as for publicity purposes analyze the present distribution/reselling network to see how designers could benefit from it creating a trend forecast for domestic and export markets, and standardizing the pret-a-porter industry by having uniform sizing, accounting and labeling norms. About Us, 2004) However, the councils main attempt to collaborate the safaris of fashion designers failed partly receivable to poor projection of at that place vision and partly due to the difference in the fools of designers in the East and South Lahore and Karachi, the main fashion hubs. This led to the creation of two distinct councils, the Pakistan Fashion Design Council (PDFC) in Lahore and Asian Institute of Fashion Design (AIFD) in Karachi. These two councils come across as carried out their separate activities despite unification efforts until lately.On declination 1, 2007, a mall showcasing the creations of Pakistani fashion designers was inaugurated by the name of Boulevard in Lahore. It was for the first time in the citys history that fashion designers from all over the country got to display their work under one roof (Rashed, 2007). Prominent designers displaying their work taked Hassan Shehryar Yasin, mare B, Nomi Ansari, Kamiar Rokni, Shafaq Habib, Karma, Shella Rehman of Unbeatables, Ammar Bilal, Asifa and Nabeel, Ahsan Nazeer, Sanya Qureshi, Sobia Nazir, Nickie Nina, Sana Shahid of Sublime and Naila Maqbool.It is hoped that such a platform al baseborn for amalgamate the vital forces of our fashion industry making it the hub of Pakistani fashion houses as is envisaged (Farooq, 2007). An Industry synopsis By definition, industry analysis is business research that focuses on the potential of a firm. Basically, an industry analysis is conducted to addresses three central questions 1. Is the industry accessiblein other(a) words, is it a true-to-life(prenominal) place for a new danger to enter? 2. Does the industry contain markets that are ripe for plan or are underserved? . Are there positions that will avoid some of the negative attributes of the industry as a whole? (Barringer & Ireland, 2006) A complete industry analysis of a firm will intromit its PEST-C analysis which will answer the first two questions, its Porters five forces analysis which will answer the latter question, followed by its foreign Forces evaluation (EFE) matrix on the basis of the opportunities available and holy terrors go about by the political party of concern female horse B. PEST C evaluationIn this industry evaluation, P stands for political, E economical, S Socio-cultural, T Technological and C hawkish forces that impact the activities and opportunities and threats make a motioning an industry. political forces These entangle any change in government laws tax laws, labor laws, patent laws, government regulation and deregulation etc, political stability, safety and environmental protec tion regulations, international trade regulations etc. (David, 2005) Changes in tax and labor laws, faeces directly affect an industrys revenue and growth structures.A bone in the rates of these laws stub subjoin business expenditures and may decrease revenues. Sometimes, with industries with low profit margins, such change sack up perish a barrier to profitability. Political instability in the country in financial value of political parties or weakness in governmental policy can prove chaotic for the industry. nether such condition, this business, like any other business can be severely affected and last shut down. For e. g. , national political parties like MQM and MMA constraint a very unfavorable attitude towards the fashion industry.In character of forcefulness, any of these parties can adversely affect or even lead to a ban on this industry which could prove distressful. withal strict trade regulations and excise policies can affect international exports and hence , increase the overall trade famine. environmental degradation posses a great threat to survival of any industry. Hence, creation a socially and environmentally amenable corporation is an of the essence(p) for projecting a corroborative public image. Economic ForcesEconomic forces that impact an industrys activities accommodate interest rates, income levels and earning patterns, toll wars, oil, currency and labor markets, s sanitarying, unemployment, availability of credit, fiscal policies, aspiration and spending propensity living standards, international trade and cooperation policies etc. (David, 2005) nowadays, there is a growing trend toward two-income households. Individuals place an change magnitude premium on time immediate availability and improved customer suffice (David, 2005). Customers are willing to pay more if they can obtain it with ease. in that location is an increase in the average standard of living in the country with a decrease in poverty level o f 10. 6% during the past four years (Economic subject field of Pakistan 2007-2008). This can serve as an opportunity for the fashion industry to arouse profit margins through add-ons submitd that the income levels remain stable. Changes in interest rates often occur due to changes in the exchange and trade market. A deficit in trade can account for rise in interest rates. Similarly and rise in the international price of oil (as witnessed in recent years) can drastically impact the value of currency.This leads to changes in fiscal policy like an increase in the interest rate translated by inflation. High inflation can slow down business activities and at time generate no profit at all. The inflation rate the year 2007-08 was calculated to be 10. 3% as compared to the 7. 9% last year which shows an increased inflation that dis returnd business surgery country-wide (Economic fall out of Pakistan 2007-2008). However, in an economically active country with move trade barriers, resu ltant price wars can increase contestation and even and industrys profit margins provided the industry is dominant as well(p) up as has international presence.Similarly, increased unemployment can provide an industry opportunity to project a positive image and provide training and employment to the depressed, hence positively contributing to the economy. Socio-Cultural Forces portions in the socio-cultural front that can influence an industrys operations take on demographic trends, cultural changes, environmental patterns, creation growth, business attitude, change in tastes and lifestyles, education, ethical concerns, purchase habits, religion, family, set and attitudes etc. Pakistan, with a population growth rate of 1. % is the worlds 6th most populous country with an estimated total population of 160. 9 million. (Economic Survey of Pakistan 2007-2008) Out of this 74% of the total population of Pakistan lies in age assembly 15 34. However, 70% of the population resides i n urban areas. (Federal Bureau of Statitics, 2005). With this came in increase in the literacy rate of the country which increased to 55% in the last four years (Economic Survey of Pakistan 2007-2008). Business activities have similarly flourished quite in the recent years, partly owing to foreign competitors entree the market.This has led to an increased change in the lifestyles and mindsets of people. There is an increased trend towards nuclear and dual-career families which serves as great opportunity for the industry as the buying condition of the consumer is enhance. Moreover, with change in lifestyles comes change in tastes. Nowadays people prefer using customized reapings and this is an opportunity for the fashion industry to pursue its target selling strategy. Fashion industry is an industry for the youngsters. With such a medium- hulking and lucrative target market, this industry can earn huge profits, provided it sufficiently focuses of their needs and interests.In v iew of this, fashion industry collaborated with the PBA (Pakistan Broadcasters companionship) to dismiss a fashion channel worldwide last year by the name of ETNL ( vogue Dunia & Youth) which is being launched soon in the country (Pakistan Broadcasters Association (PBA), 2007). Religion and ethical preferences too, play a major role in shaping strategies and market products, curiously if one moves from culture to culture. Fashion industry in Pakistan, therefore has to take into consideration the limitations that ethics, culture and religions imply on clothing nationwide as well as internationally.Technological Forces Though fashion industry is not technologically driven, but is has now sustain a necessity e finickyly if an industry or familiarity wants to maintain competitive beach or tap into international arena. The focus of at presents industries is on mass customization as well as mass output signal which are not possible to achieve if it is inept in engineering. seve ral(prenominal) components impact an industrys technological consideration. These are, governing spending in research, changes in Information Technology, mesh and Mobile Technology, energy use and costs, and international exercise costs etc.Technology is one of the stringy starting times of marketing in todays era. The world is now a global village. enlarge in technology, especially the internet helps cover a large number of consumers thus, helping a business reach a large target market in a short time span. According to estimates of 2006, the global internet usage accounts for 21. 9% of the total world population with Pakistan alone, having a total usage of 7. 2%. (UNDESA, 2006) This is a very attractive opportunity for the fashion industry in case fashion designers approach e-selling.International marketing (e-commerce) is one of the major contributors to world economy. It not only helps in the development of the business but withal helps in the development of the countrys economy. However, any business before tapping into international arena has to go through various study and research to adopt proper marketing mix, somatogenetic evidence and performance before launching itself worldwide. It also needs to be aware of all the rules and regulations (cyber) of its host country. Once capitalized upon, e-commerce can produce great profits. combative ForcesThis force is recently introduced in the PEST analysis. retention in view the growing controversy world wide, analysis of ones competitive forces has become an of the essence(p) to success. Gathering information about competitors strategies and progress has become very heavy. Due to diminishing trade barriers, WTO, EEC, OPEC and collaboration with other world communities, national b gild are no more existent. Now every country is a part of a bloc. This in turn has fiercely increased challenger as a result of lower labor costs, enhanced technology and internet facilities.Now payoff is do in one country, assembly in other, encase and shipment in another due to advancements in transportation and e-commerce. Companies undertake to achieve competitive edge as low-cost producers. In such a rapidly changing environment with international competitors invading every country, keeping pace with, in fact going ahead of ones competitors is the only key to progress. However, it is essential to have a track of strategies and policies of an industrys competitors but ethical concerns in gathering light data should not be neglected.Competitors of female horse B. The fraternity that study under fashion industry is mare B the largest fashion house of Pakistan. The company when formed was the first to start business with a retail dismissal while all her competitors were doing business from home. Today, after ten years in business, maria B attends competition from direct as well as indirect sources. A list of her direct competitors include designers like Hasan Shehryar Yasin, Rizwan Beyg, Generationz, Deepak Perwani, Nomi Shahid, Nikki and Nina, Sehyr Saigol, Maheen Khan, Sonya Batla, Hajra Hayat, Nayna, Monica Piracha.With them there are indirect competitors too that pose a threat to mare B. They include local textile shops, local tailors, and famous brands like Gul Ahmed and Bareeze that are dealers in un-stitched garments. PORTERS atomic number 23 (Competitive) Forces Evaluation Below a diagrammatic unofficial of the five crucial competitive forces is destinen pic emulation among competing firms Fashion industry in Pakistan is yet in its progressing stages. It has moved ahead from being embryonic but hasnt spurted.However, threat of competitors is still an important factor that govern the operations of this industry particularly the arguing between fashion designers of Karachi and Lahore in terms of ideals have prompted every company in the industry to strive to develop a competitive edge and nationally expand as large as possible. This is mainly beca use the few designers that exist at present are equal in size and capability. The internet is still not used as a base source of doing business but there is a growing tendency among designers, particularly the established ones to use internet for trade purposes nationally and internationally.Inflation and changes in customers perceptions and attitudes is also a driving force toward increased competitive contention. In the beginning, fashion designers pursued all their efforts towards spousal dresses. But as customers are bonnie more and more aware and demand of mark apparel is increasing, these designers are finding new areas of development by focusing more on routine outfits. However, this industry is still not mature passable in its life cycle that price trim could be a common phenomenon.There is not much time before these few designers are go about with increased competition particularly as standards of living become utmost and international designers set up their busin ess in the country. Competitive rivalry in this case is comparatively high. Threat of new entrants Threat of new entrants in Pakistani fashion industry is high. This is because the barrier to enter this market is quite low because no previous experience is necessary to start doing business in apparel, customers have low brand preference and loyalty, too is low.If a customer gets a better option else where and that too, for a lower price, s/he can switch to that option. regulatory policies in the country are not very strong and hence achieving patents for a product or service is relatively easy. Moreover, the government itself promotes the setting up of new businesses. In regards to technological requirement, fashion industry does not require any cutting-edge technology to keep at pace. Therefore, if one needs to get into fashion designing, it is quite easy. Potential development of shift productsIn an apparel industry, there is no stand in for clothes, but there may be a substit ute on the procedure of souring them. Fashion industry, too establishments threat of substitute methods of processing. People, especially in a growing economy can easily get ideas from designer outfits and get them stitched through a neighborhood tailor instead of buying it from that very designer due to its high price. On the other hand, local tailors can throw you the same design, though maybe not the same quality at a comparatively low price. Hence, the threat of substitute is high.Bargaining power of suppliers Bargaining power of suppliers is quite low in Pakistani fashion industry. The major raw materials required in this case are textiles and fancywork materials. These two industries textiles and embroidery are one of the richest and profit producing industries of the country. Therefore a designer has the power and the choice to switch among suppliers and even carry on prices as there are a large number of suppliers available to provide the same or even better raw materi als at moveable prices.Bargaining power of customers Bargaining power of customers is low in this industry. This is because there few choices to select from. Designers have there set prices that are quite high and fixed they cannot be negotiated upon. If talked about competing brands, a vendee cannot easily switch to other options. Products are self-colored and the prices may either be uniform or else a buyer has to trade-off with quality of the product. External Analysis SW(OT) OPPORTUNITIES THREATS Expand into Emerging Economies Competitors Enter sensitive Product grocery stores bracing entrants Acquire More Companies Substitutes Ecommerce gross revenue Economic Situation Expand Standalone Stores Political side International Economies and trade restrictions stigma Cannibalization External Factor Evaluation (EFE) matrix This matrix evaluates a companys external environment the opportunities and threats that are spiritd by an industrys companies in the ext ernal environment. Our company of concern is maria B.A analysis of all the factors that are faced by this company and its ability to capitalize on them or take in charge threats is given External Factor Evaluation Matrix Opportunities Weight Rating leaden Score 1 Expand into Emerging Economies 0. 14 3 0. 42 2 Enter mod Product Markets 0. 12 4 0. 48 3 Acquire More Companies 0. 04 4 0. 16 4 Ecommerce Sales 0. 06 4 0. 24 5 Expand Standalone Stores 0. 03 3 0. 9 Threats 1 Competitors 0. 12 3 0. 36 2 New entrants 0. 1 4 0. 4 3 Substitutes 0. 12 4 0. 48 4 Economic Situation 0. 07 2 0. 14 5 Political piazza 0. 5 2 0. 10 6 International Economies and trade restrictions 0. 06 3 0. 18 7 dent Cannibalization 0. 09 2 0. 18 1 3. 23 Fashion industry provides a promising succeeding(a) of growth and development in Pakistan. Once established, it has the potential to contribute positively to the national economy. Company Introduction female horse Bs entrance into fash ion world can be summed up in adage she came, she saw, she conquered. (Ghafoor, Face to face with maria B. , 2002) maria B. was the first fashion house in Pakistan. She launched first outlet in Lahore in 1998. Since then, female horse B. has grownup leaps and bounds. With her vision ceaselessly clear to make Maria B. Pakistans first international brand name in fashion, today, she is the first and only women wear brand retailed across countries. She is the only local designer with a franchise outlet in London. The Label is also internationally stocked in Manchester, Birmingham, New Delhi, Dhabi, Orlando, Washington, New York, New Jersey, Dallas and New Delhi.By the end of 2006, she had retail reach to 5 outlets nationwide over Lahore, Karachi, Islamabad, and Faisalabad. (Randhawa) In 2006, Maria B. also launched her first ikon of accessories of space and handbags. (Randhawa) Maria learned that there was tremendous background signal for Pakistani fabrics in the international ma rket and was rigid to make her mark globally. As she said, Im a staunch patriot I want to take Pakistans name in the international fashion scene. I want to show people around the world what a great hereditary pattern we have. That really is the core philosophy of my business. We want to go into the international market and prove ourselves as a Pakistani brand name. (Maria B. Fashion Designer) For her, fashion is plain an extension of self, an expression of individuality, of art and modernism. It has no borders or divides. Its passion and it is a constant evolution of society. It is passing(a) and global. (Ghafoor, Face to face with Maria B. , 2002) She changed the previous begum darzun (societal tailoring) culture and brought new horizons in the fashion, rather the apparel industry as a whole with her pret-a-porter collection of lancinate and elegant dresses that defined femininity with style. She believes that, Fashion today is not dictated to adult female. The modern confi dent woman chooses what she wears. Ghafoor, Face to face with Maria B. , 2002) As a designer, she unceasingly felt her responsibility to translate and enhance each persons natural style into fashion commands according to current trends. She believes in geniuss and dedication if a person is not smart enough or cant make fashion his or her life, s/he should be in another field. She strongly suggests, Dont be in fashion because you want to be fashionable or make money be in it because you feel that you can contribute to it otherwise youll be just one of the thousands who have kaarigars (tailors) at home and think that they are designers (Ghafoor, Face to face with Maria B. 2002) Recognized by BBC, in 2002, over a three month running course for Asian woman as the preferred label for modern professional workings woman of Pakistan, Maria B has been hailed as the pioneer in redefining womans fashion modernity in Pakistan. (Randhawa) No doubt Maria B has brought a renewing is the local apparel industry. Today, after ten years in business, it is the largest fashion house in the local industry. Her company has risen and surpassed the semblance of mediocrity. A trend setter as Maria B. has ever so been, she is even more passionate and daring to set trends for the future and believes that she can go further than others in delivery Pakistan on the world map of fashion. Randhawa) You have to playction high and I do want to get to New York, Milan and Paris one day. Maria B. (Maria B. Fashion Designer) Internal Analysis of Maria B. Zurain Imam, a renowned fashion critic said that Maria B. has become a veritable couture quality household brand. (Imam, The A to Z of Fashion, 2006) Maria B. has become a hot name with her exciting shoots and the rapid blowup of her outlets. Her success has single handedly shown that fashion can be successfully open in Pakistan as business. (Dawood, 2003) No doubt, Maria B. has put forward a fantabulous example a of successfu l business venture by expanding worldwide in just a short span of time. only of this requires proviso and organizing strategically. Maria B. believe that its the companys strategic vision of promoting Maria B. as a Pakistani brand recognized world over has played a very important role in its success. She believes that with effectual instruction, marketing, leadership, research, cost and operative measures, a company can really go ahead. way Management at Maria B. like any other successful company is all about good planning, organizing, motivating, leading and controlling. The company has a strong management philosophy that believes is integrity, talent and dedication if you cant make fashion your life, choose another field. (Ghafoor, 2002) training Maria B. irmly believes that good and forecasted planning is essential for achieving a desired goal. Planning is all about preparing for change by bridging the gap between the present and the future. It enables a company to gather t he necessary resources and carry out tasks in the most efficient manner. (David, 2005)At Maria B. planning is thoroughly done before the beginning of any new activity or the launch of a new product. The company also relies on competitive intelligence in order to make comparative conclusivenesss. With no fear on local competition from brands like Hasan Shehryar, Nomi Ansari, Ammar Bilal, Deepak Parwani, Rizwan Beyg and Nilofer Shahid etc. the company formulates strategies in view of the international market and international competitors like Armani, Prada, and Louis Vuitton etc. Organizing Organizing is really important for defining task and government agency and effectively and efficiently allocating resources for any company. (David, 2005) At Maria B. defining line of authority is important. The company started off with a functional structure with Maria being the CEO as well as the control all designing and marketing activities. With the companys expansion across the borders, Mar ia B. now is maturation towards a more divisional structure with line of command spreading internationally. Since the Maria B.Accessory launch in 2006, and the companys aggressive intensive strategies through market and product development, it wont be long till Maria B. starts working at each production line separately at the organizational level. At present, the company employs more than 50 management staff in its outlets across Pakistan alone. (Randhawa) all in allocation of resources is also another important termination for the company. The company is financed completely by the CEO Maria. Moreover, the use of skilled labor for the job also is carefully selected to give every single piece of work the designer finish. Motivating and Staffing Motivation means influencing people to accomplish unique(predicate) objectives. Staffing, on the other hand is the essence of human resource management.It includes activities of recruiting, interviewing, testing, selecting, orienting, tr aining, developing, evaluating as well as rewarding. (David, 2005) The Maria B. factory presently employs over 200 workers, all recruited after specific procedures that test there credibility to the profession. Because Maria B. wants to give the best in terms of quality and versatility, hence every worker needs to know how to give the perfect finishing to a Maria B. dress. each(prenominal) employee is required to make a test of embroidery or hemming etc that s/he specializes in. In case of training, the companys HR manager is obligated for developing and grooming the workers for perfection.The company believes in enough Employment Opportunity and every individual be it a man or a woman is selected merely on the basis of his or her talent/skill. (Shaukat, 2009) In terms of wage and safety issues, Maria B. conforms to the Labor Laws, be it in Pakistan or across the borders. In terms of motivations, the company always grants a pay rise every month on the basis of performance. More over, the in post of employee safety, every process in the factory is automated. Training is given to scat the machinery. (Shaukat, 2009) The production rate of the factory is the highest among the local designers for formal couture, pret-a-porter lawn on a monthly basis. (Randhawa) autocratic Controlling at Maria B. is done through monetary incentives given based on performance.Employees are first trained and the standards of performance are set. Individuals meeting these standards are considered for the incentives. The company believes in its employees as an asset and retaining them is essential if it wishes to avoid further training and hiring costs. It believes employees become experient with time and this increases their loyalty to the company which is very essential particularly in present times of economic slump. Marketing Marketing can be describe as the process of defining, anticipating, creating and fulfilling customers needs and wants for products and/or services. Thi s is on the button what Maria B. invested upon.The company created the demand of branded designer clothes through awareness. Maria B. made people shift from the traditional tailor-culture to demand more. Its heavy marketing approach and use of appropriate mix of marketing made it develop a brand name, an individualism which no other designer had before. Customer Analysis It involves the examination and evaluation of customers needs and wants. At the time of the companys start up, Maria B. researched on the need of fashion industry, found a sizable target market for her product and then launched the first Pakistani fashion house. She changed the concept of fashion from the dress of the working women to everyday wear.Today her clientele are spread across the globe and includes teenagers to 70 year-olds. Maria B. takes care of the need of each and every age group. Her contrast and selection of colors defines that each and every line is tailored to specific clienteles needs wild and bold prints for the youngsters and neutral and serene ones for adult target market. Her customization to the needs of the customer is an important variable of success of Maria B. (Ghafoor, Face to face with Maria B. , 2002) Planning and Selling Products/ Services Maria B. has the designer need of ready-to-wear dress line for each age-group and every occasion catered effectively to.She take care of everyones needs and desires and relies on comely promotion activities to retain previous as well as capture more market. Marias pret line of clothing includes formals, semi-formals, party line, Mafia line, bridal line and her new MGirl line. Together with this, she also started her own accessory and jewels line in 2006. Mafia line this is a casual, ready to wear line. Mafia is made mostly in pure cottons, khaddars, lawn, linens and embroidered cottons. This line is principally day wear which is affordable and trendy. Semi formals This range is primarily evening wear- slightly more forma l, it plays with exquisite embroideries in resham and crystals on chiffons, silks and georgettes.Formals Perfect for wedding needs, this line consists of silks, jamahwars and heavy hand embroideries in crystals and salma dapka (traditional eastern embroideries) Maria. B Brides A purely couture line which is available only at the bridal studio in Lahore. It is a made to order line for brides and their families. Mgirl this is the new hip and trendy line by Maria B. go everything from clothes to bags and shoes to accessories. It guarantees satisfaction to the woman who wants it all. It caters to the fun and fearless and is certainly not for the fainthearted. Maria. b Jewels Introducing semi-precious jewellery for weddings, this jewelry in platinum coated with semi-precious stones such as topaz, tourmaline, amethysts and zircons. Official Facebook group of Maria B. ) According to a recent survey, Maria B. lawns have been the largest sellers in terms of number of units in all of Pakista n. (Mansoor, 2008) All this is the result of Marias daunting effort to promote her brand at every level possible. Being a media darling, she relied heavily on print media and PR activities for the promotion of her brand. Some the names in print media are Dawn News, Visage magazine, Instep magazine, Fashion weekly, SHE and others. For PR, Purple Arts have been Maria B. s official consultants. (Shaukat, 2009) Besides these, fashion shows, ramp events have also been another very important source of promotion.But due to governmental issues, these events are snubbed and not promoted to the adequate promotional level. However, the recent Lux Style Awards Red Carpet and act Events (Imam, 2005) and 2007 National Day Ramp Show held in Washington D. C. (Embassy of Pakistan, 2007) served as a very important awareness and marketing tool, provided they continue. Besides, Maria B. also holds her own fashion shows at the international level. Besides being business-minded, Maria B. is also a socia lly responsible person. She holds ramp events at the national as well as international level to help the take class of the society through foundations like Kashf.In 2001, on the launch of her Paris Collection, Maria B. held a fashion show in Marriot, Karachi for raising money for Afghan refugees in the country. (Malik, 2001) In a nutshell, Maria B. s success is a fusion of small dress designing as well as sophisticated promotion done nationally as well as internationally. Pricing and Distribution This is an important decision in marketing. As for Maria B. this decision of pricing and distribution is a task well done. Maria B. always wanted to make her name in the international market. Since the launch of her fashion house, she has been unceasingly working to promote her product internationally. At the national level, Maria B. as expanded to almost all the major cities of the country Lahore, Karachi, Islamabad and Faisalabad. She has plans of opening her outlet in every city of t he country. But her main goal is to export her product around the world. She wants to make Maria B. the brand of Pakistan. And she has been very successful in doing that. Within ten years of business, Maria B. has outlets in U. K. , U. S. A. , India, and Dubai. But export being her strategic vision, Maria B. wants to expand to other cities of the world. I want to escape haute-couture items such as evening wear, bridal wear etc. to UK/Europe, and then eventually to the US/Canada, capital of Singapore and Australia. She remains undaunted by the global competition and says you have to aim high and I do want to get to New York, Milan and Paris one day. (Maria B. Fashion Designer) As for pricing, it is well adjusted to the need of the local market. Maria B. has unit- priced her product very intelligently neither very high nor very low or somehow affordable as on critic says. (Ghafoor, 2002) She believes her lines are of the top-most quality and hence, relies on glide strategy for pricing. Regarding the international market, prices are decided in accordance with the trade regulations of the country, by adding a mark-up to it. (Shaukat, 2009) Market Research and Opportunity Analysis Maria B. elieves in fashion as a constant transient change. New tastes keep on developing which gives rise to new demands in the product market. Research hence, is always critical to success. Maria B. no doubt has always successfully catered to the needs to its market through research. A recent example is her launching of the new M Girl line with its bold, wild and vibrant colors, keeping in mind the aspirations of the young women of today. (Official Facebook group of Maria B. ) Finance/Accounting Functions With increasing divisional structure of the company, the need of a full-fledged independently operating financial division was necessary. Maria B. has fully handled that.The company has an independent accountant who is responsible for all the financial matters of the company. T hought most of the information was confidential, however, Maria B. s net profit margin was found out to be 6. 77% after taxes and interest. And the companys gross profit margin was found out to be 98. 25% which is quite operative especially in todays era of economic slowdown. With the pursuance of her already implemented strategies and adequate control, Maria B. , no doubt, can become one of the most successful brands of Pakistan. Research and growth Research and Development (R & D) has become a necessity in todays constantly changing era. Unfortunately, at Maria B. no specific R & D department exists despite its expansion.All research decisions are made during periodic meetings or by the CEO. However, in lieu of arising need and global expansion, Maria B. is making decisions on having an R & D department. Production and Operations Maria B. works on all types of clothing, from cotton, linen, silk, hand weave khaddar and organdy garments. She prefers working on colors that are bold and vibrant. Colors and material that are bland are not her preference. The cloth is always acquired from the textile hub, Faisalabad. In case if the desired cloth or quality is not available, it is also imported. The production process at the Maria B. factory is exceedingly mechanized and up-to-date.She does not fear local competition because her processes are highly automated and recent. 200 employees in the factory work on monitoring production and focusing on embroidery. Though no special MIS software is in place, the company plans to have one installed soon as market size and demand increases. (Shaukat, 2009)Moreover, all the activities in the companys value-chain is covered by the cost of sale of goods. (SW) INTERNAL epitome Below are a list of all the strengths and weaknesses that are faced by the company. The strengths are of an advantage to the company while the weaknesses pose threat and need to be downplayd and converted in order to prove beneficial for the company. ST RENTHS WEAKNESSES Wide product line No missionary post asseveration Strong blade scholarship No written vision recitement Almost all brands have a nook focus Brand cannibalization Decentralized management wish of focus Diverse brand portfolio Lack of Brand Idea Sharing Internal Factor Evaluation Matrix (IFE) The IFE matrix evaluates the strengths and weaknesses of the company in relation to the ability of its management to capitalize on the strengths and minimize the weaknesses. Company Maria B. STRENGTHS Weight Rating Weighted Score Wide product line 0. 21 4 0. 84 Strong Brand recognition 0. 15 4 0. 6 Almost all brands have a box focus 0. 08 3 0. 24 Decentralized management 0. 06 3 0. 18 Diverse brand portfolio 0. 03 3 0. 9 WEAKNESSES No mission statement 0. 18 4 0. 72 No written vision statement 0. 16 4 0. 64 Weak advertisement efforts 0. 05 3 0. 15 Lack of brand idea share 0. 04 2 0. 08 TOTAL 1 3. 54 Competitive Portfolio Matrix (CPM)The CPM identifies a firms major competitors and its particular strengths and weaknesses in relation to a sample firms strategic position. Company Maria B. Local Competitors Hasan Shehryar Yasin (HSY), Nomi Ansari, Rizwan Beyg, Nilofer Shafid, Deepak Parwani. KEY SUCCESS FACTORS W Rizwan Beyg OPPORTUNTITIES 1 Expand to the northern areas of the country 1 accession print advertisement and e-marketing 1 Expand into rising economies S4,O2, O5 to attract markets like India, China as well as 2 Enter new product markets 2 Increase online selling to Italy and France the local market.W4, 04, 01 3 Acquire more companies S3, S4, 04 4 E-commerce sales 5 Expand stand-alone stores THREATS 1 Target niche markets in the country that is 1 Work on making a written vision and mission 1 Competitors not being targeted by competitors. S4, S1, T1 statement and project it to make the MARIA B. 2 New entrants 2 Advertise on brand quality and corporate identity. W1, W2, T1, T6 3 Economic recession social responsibility to increase customer 2 Increase collaboration, cohesion and idea 4 Political situation loyalty.S2, S4, T6, T1, T2 sharing between local designers at the platform 5 International economies and trade of the BOULEVARD. W3, W4, T3 restrictions 6 Brand cannibalization Conclusion In a nutshell, Maria B. is curb the land in the name of Pakistani fashion with her unique and bold styles. And one day, she surely plans to become Pakistans top international fashion label. Bibliography David, F. R. (2005). strategic Management concepts and cases (11 ed. ).South Carolina Prentice Hall. Dawood, T. U. (2003, May 1). The future of fashion. Retrieved January 11, 2009, from Dawn The review http//www. dawn. com/weekly/review/ record/030501/review1. htm Embassy of Pakistan. (2007, August 26). 60th Independence Anniversary of Pakistan. Retrieved celestial latitude 26, 2008, from Embassy of Pakistan http//www. embassyofpakistanusa. org/news269_260807. php Fashion Avenue Quarterly. (2003, October). Style Chronology. Retrieved January 10, 2009, from Maria B. www. mariab. com/index. htmchronology Ghafoor, B. (2002, June 5). All eyes on Maria B. 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Retrieved December 26, 2008, from MAG http//www. magtheweekly. com/16/lahore. php Rashed, F. 2007, December 9). Unity at the Boulevard. Retrieved December 26, 2008, from Dawn Images http//www. dawn. com/weekly/images/archive/071209/images1. htm UNDESA. (2006, December). Pakistan. Retrieved December 30, 2008, from Internet World Stats usage and population statistics http//www. internetworldstats. com/asia/pk. htm Salwa Shaukat L1S06BBAM0001 Javeria Maqbool L1S06BBAM0032 Sana Azhar L1S06BBAM2024 Kanwal Tariq L1S06BBAM2037 Submitted To prof Nasir Riaz external and internal analysis Industry Fashion Industry Company Maria B.