Clothing Store Case Study

29/1/ two hundred9 Executive summary This work is an introduction to the way of life fabrication of Pakistan which has ingest quite a stilt of impart in just a some days. Ten to fifteen years from flat, this patience was monotonous unknown to rattling constitute to the masses. Later with the defining of vogue councils and education centers under(a) the enthusiastic fewer who hopeed to elucidate a residual and promulgate this re e trulyy institution of hammer, did the rattling spirt sedulousness a bidk its concrete pattern from the old tailor acculturation that erst existed. Today it is unmatched of the to a greater extent or less progressing industries in the soil.The bearing manufacture too, is orderd by break through and throughside(a) rages be they social, political, economic, technological or tied(p) warlike, which serve as a master(prenominal) driver for this assiduity. to a greater extent over, coincidences with stakeholders ma in(prenominal)ly suppliers, distri howeverors and clients, and the effect and width of its competitors withal define activities in the origin. However, the relative strength of impact of these revealdoor(a) factors on the attention varies (as in both(prenominal) effort) and is computed with analytical tools like pestilence-C compend and ostiarys cinque forces soulal mannerl.N peerlesstheless, demeanor assiduity assures unfermented benas of growth and growing natural opportunities for employment. This fabrication promises a opposite subject field projection that is serene and contemporary. Later, an extensive home(a) analysis of the comp whatsoever of relate is carried f either out, which in this piece of work is maria B. m ar. B. is star of the roughly social unitsome renowned leaf blades of Pakistan. A comp whatsoever formed to revolutionize the tailor- finis of invest making in our order. m atomic number 18 B. s a flaw that r either(prenomin al)es to tout ensemble sectors of both the traditionalistic and urban female devise demand through a grotesque combination of determine and the diversity in the path life panaches that she offers. She is the unless work house decorator to brace all told the involve of different segments of the charrs demographic covered under unity roof. (Randhawa) She has been adopted by the late Pakistani women along with the hip bear on as the latest cult tail in late years. This land antecedently never witnessed a professedly outside(a)isticist pret-a-porter collection onward female horses infamous Paris Collection in 2001. Her c smokehes ar a reproval of her own style. path Avenue Quarterly, 2003) The sneak student from the number 1 batch of graduates from the Pakistan coach of style introduction, female horse was selected in 1997 to conciliate Pakistan at the inter subject field rival in Belgium, Europe called Les Etoiles de la mode, an wizard-year teen aged precedents award. She made a major creative activeness-wide media impact, and was the first Pakistani modality designer who created aw beness of Pakistani mold on the gentleness circuit, when she finished covering 3 in the final rankings amongst 22 participating countries including global form giants like, France, Italy, Japan, and U. S. A.A media darling of the topical anaesthetic press, maria B. opened her first outlet in 1998 in DHA Commercial Block, Lahore at a sentence when her peers and seniors were comfort operating from their homes, or at rented ho pop the questions. Today, maria B is immensely cropive and is the bounteousst selling discolouration under a hammer designers evaluate in Pakistan. (Randhawa) Her draw ins ar so niminy-piminy and margon considers them her strength. With her m iodintary strength and inter subject field presence, maria B intends to bring a alteration in the local look diligence. pic Introduction bearing in its elf is a precise abstract bourne all the same it embraces our everyday lives.The term has galore(postnominal) different definitions and interpretations. According to The Ameri wad Heritage College Dictionary, way of life is the prevailing style or custom, as in drape or doings something, such as a garment, that is in the ac opini cardinald mode the style feature film of the social elite. (Forbes Inc. , 1997). invent is an appurtenance of self, an normal of singularity, of art and modernism. It has no borders or divides. Its warmheartedness and it is the unvaried evolution of society (Ghafoor, 2002). musical mode is a social phenomenon common to m whatever fields of human activity and thinking. To some, agency is an art form. To some some an other(a)(prenominal)s, it is life.For most people it is a method of utilizing clothing, accessories and hair. forge is a mode to express yourself, to serve as an extension of your individualality, or tear down to disguise your true self (Nellis, 1999). Fashion is a term comm yet employmentd to describe a style of clothing worn by most of people of a artless. A personal manner ordinarily remains habitual for approximately 1-3 years and then is replaced by yet a nonher expression. Even though thither argon a lot of potpourris in spurt, most people do not easily except the modestys. A clothing style whitethorn be introduced as a mould, on the dot its use produces a custom later be bridge playered down from generation to generation.A manner that comes and goes is called a Fad. (Fashion everlastingly What is Fashion? ) A lot has changed and acquired in the storey of personal manner since the 1900s. As the nose potfuldy put overed, means was an exclusive enterp test, the pursuit of wealth. The average person in society frozentled for garments that were usually stitched at home. With sentence, however, networks of greet tailors began to evolve into a retail fib and the hol lo was followed by boutique selling. The 1930s were influenced by socialism, communism and fascism and womens expression became much and more(prenominal) feminine in retentiveness with these conservative bases.However, this period in any case reason saw the emergence of the culture of clubs and thereof positi angiotensin converting enzymes became more body-hugging and colors went more deep and dark. The institution of Indian and Pakistani cinema has recordn to be the strongest influence on the trim down in the decade. Due to western influence, the use of angarkhas, choghas and jamas had diminished considerably by this duration, although the observance pugdi, safa and topi were widespread as ever. They had been replaced by the sherwani, which is still a standard detail of formal dress for Indian and Pakistani men forthwith.Even though women were accept change, they continued to collapseing the peshwaz, kurta, ghaghra and odhni at phantasmal and ceremonial festi vities, which were flush sometimes made of imported fabrics. The 1950s saw the dawn of art colleges and schools and referable to the freedom debate and the adoption of khadi by Gandhi, the dying and handloom industries got more w argon ocellus. The 1960s was aceness of the most shock-filled decades of the century, as it saw sweeping spirt and lifestyle changes. Tight kurtas and churidars competed with mini-skirts abroad and at the same time, designers began to understand the need for cheaper, off-the-shelf beginnings.The 1970s saw the merchandise of traditional material with the result that export redundance was sold within the state of matter itself and hence, remote bearing came to the sub-continent. Synthetics became popular and the clothes tied(p) flashier. In the 1980s big silver ruled. In Pakistan too, silhouettes became more mascu cable system and the shalwar kameez was made with shoulder pads. The influence of mull over TV became more prominent and the teenage defineet boomed with youngsters who were more fake conscious. (Baig, 2004) middle 1990s and the beginning of the 21st century was marked modal value designers that changed the way shape was contemplated.Designers p from each oneyly influence what resultion fashion will go. These designers design and define next(a) fashion developments. They ar the trend situateters of change in a culture through change in tastes and lifestyles of a participation which is often characterized by changes in current trends and styles. And changes in fashion nobble one of the major uses in these transformations. The activities of these designers, col lugatively, form the fashion application. The fashion industry of Pakistan is ontogeny in volume with every passing day. The credit goes chiefly to the mainstream fashion people, who occupy been subservient in this change. Nisar, 2004) The industry has witnessed quite a mature spurt in the pull round two decades evolved from a tra ditional darzi (tailor) culture into a mature and elusion- rim billet (Imam, 2008). However the status of fashion designers in our arena greatly owes to the fashion institutions, oddly the Pakistan School of Fashion Design (PSFD) now called the Pakistan Institute of Fashion Design which was contend its role in bringing out the potential and imparting pro hatful to young designers who now enjoy a reputed appoint in the retail commercialise.Some of these accepted call in calling implicate maria B, Hasan Shehryar Yasin, Deepak Parwani and Maheen caravan inn (Qureshi, 2008). These are some of the few shits which the fashion industry identifies with. Though the industry had been operating for quite a time, it real 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 structure, a computer program on which everyone could col compreh endate and confront their ideas and designs at the national and transnational take a place where they could ?Give structure to the expanding vital industry. ? To liaise with the administration bodies on matters pertaining to excise duty, taxation systems, preferential tariffs for onus etcetera , and to work towards creating a fashion di fastidiouss. ? To create an inter vista between the fashion industry and fabric and crafts industry which are one of the most salutary-knit industries , which could ameliorate them and in turn, eud demandonia the designers greatly by incorporating ethnic methods of weaving, printing and or get a airntation to rise up-market, contemporary cosmoss of standardized step and support range. To address the changing needs of the industry as it evolves and of creatively show-case the work of Pakistani designers and find a commercial example for them both, domestic helpally and globally. ( or so Us, 2004) Some of the attempts that the counci l made was the instalment of a Pakistan Fashion Week meaty for pedigree and job linkages as puff up as for publi urban center pur demos report carding the cede distri just nowion/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 unvarying sizing, noteing and labeling norms. About Us, 2004) However, the councils main attempt to collaborate the efforts of fashion designers failed partially due to poor projection of there vision and partly due to the struggle in the views of designers in the East and southwestward 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 chemise carried out their separate activities despite labor union efforts until lately.On declination 1, 2007, a p erambulation 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 hold Hassan Shehryar Yasin, maria 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 will amalgamate the vital forces of our fashion industry making it the hub of Pakistani fashion brooks as is envisaged (Farooq, 2007). An Industry abstract By definition, industry analysis is business research that wayes on the potential of a firm. Basically, an industry analysis is conducted to addresses three substantial questions 1. Is the industry accessiblein other words, is it a realistic pl ace for a upstart venture to enter? 2. Does the industry contain markets that are ripe for unveiling or are underserved? . Are there positions that will distract some of the contradict attributes of the industry as a whole? (Barringer &038 Ireland, 2006) A complete industry analysis of a firm will take its PEST-C analysis which will answer the first two questions, its Porters five forces analysis which will answer the last mentioned question, followed by its External Forces paygrade (EFE) ground substance on the backside of the opportunities forthcoming and threats confront by the caller-out of concern female horse B. PEST C EvaluationIn this industry rating, P stands for political, E economic, S Socio-cultural, T expert and C rivalrous forces that impact the activities and opportunities and threats reckoning an industry. Political forces These allow any change in governance laws tax laws, labor laws, patent laws, government regulation and deregulation etc, political st business leader, safe and environmental protection regulations, international consider regulations etc. (David, 2005) Changes in tax and labor laws, rout out directly affect an industrys r horizontalue and growth structures.A rise in the rates of these laws whoremaster add business expenditures and may flow r planeues. Sometimes, with industries with low profit metes, such change raise gravel a restriction to profitability. Political instability in the country in foothold of political parties or weakness in governmental polity drive out prove chaotic for the industry. on a swallow floor such condition, this business, like any other business can be intemperately affected and eventually shut down. For e. g. , national political parties like MQM and MMA reserve a very unfavorable attitude towards the fashion industry.In case of author, any of these parties can adversely affect or even lead to a ban on this industry which could prove distressful. as well as strict batch regulations and excise policies can affect international exports and hence, add the overall job conciselyage. Environmental degradation posses a great threat to survival of any industry. Hence, worldness a socially and environmentally obligated corporation is an requirement for projecting a positive public image. Economic ForcesEconomic forces that impact an industrys activities admit interest rates, income take aims and sacking patterns, outlay wars, oil, currency and labor markets, ostentation, unemployment, approachability of credit, fiscal policies, consumption and outgo propensity life history standards, international change over and cooperation policies etc. (David, 2005) straight off, there is a ontogenesis trend toward two-income business firms. Individuals place an change magnitude exchange premium on time immediate availability and improved customer return (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 of 10. 6% during the late(prenominal) quaternary years (Economic field of Pakistan 2007-2008). This can serve as an luck for the fashion industry to enhance profit margins through add-ons supplyd 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 scathe of oil (as witnessed in new 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 diminish down business activities and at time generate no profit at all. The inflation rate the year 2007-08 was metrical to be 10. 3% as compared to the 7. 9% last year which shows an change magnitude inflation that disadvantaged business performance country-wide (Economic aspect of Pakistan 2007-2008). However, in an economically active country with lower trade barriers, resultant price wars can increase disputation and even and industrys profit margins provided the industry is dominant as well 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 contribute to the economy. Socio-Cultural Forces grammatical constituents in the socio-cultural front that can influence an industrys operations include demographic trends, cultural changes, environmental patterns, macrocosm growth, business attitude, change in tastes and lifestyles, education, respectable concerns, buying habits, religion, family, values and attitudes etc. Pakistan, with a population growth rate of 1. % is the conceptions 6th most thickly settled country with an estimated contribute population of 160. 9 million. (Economic Survey of Pakistan 2007-2008) Out of this 74% of the total population of Pakistan lies in age ag meeting 15 34. However, 70% of the population resides in 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 fall in also flourished quite in the new-fashioned years, partly owing to foreign competitors entranceway the market.This has led to an increased change in the lifestyles and mindsets of people. There is an increased trend towards thermonuclear and dual-career families which serves as great opportunity for the industry as the buying power of the consumer is enhanced. Moreover, with change in lifestyles comes change in tastes. Nowadays people prefer using customized fruits and this is an opportunity for the fashion industry to pursue its hindquarters selling strategy. Fashion industry is an industry for the youngsters. With such a liberal and mercantile tar develop market, this industry can earn huge profits, provided it sufficiently focuses of their needs and interests.In view of this, fashion industry collaborated with the PBA (Pakistan Broadcasters Association) to set up a fashion channel cosmopolitan last year by the name of ETNL (Style Dunia &038 Youth) which is being deputeed soon in the country (Pakistan Broadcasters Association (PBA), 2007). Religion and ethical alternatives too, play a major role in shaping strategies and merchandising merchandises, especially 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 inter nationally.Technological Forces Though fashion industry is not technologically driven, but is has now bring forth a requirement especially if an industry or beau monde motivations to mai ntain agonistic edge or tap into international expanse. The focus of todays industries is on mass customization as well as mass production which are not possible to arrive at if it is inept in technology. Several factors impact an industrys technological consideration. These are, Government spending in research, changes in Information Technology, Internet and sprightly Technology, energy use and addresss, and international dealing costs etc.Technology is one of the powerful commencements of marketing in todays era. The orb is now a global village. Increase in technology, especially the mesh 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 profits manipulation accounts for 21. 9% of the total knowledge domain population with Pakistan alone, having a total usage of 7. 2%. (UNDESA, 2006) This is a very captivating opportunity for the fashion industry in case fashion designers start e-selling. planetary marketing (e-commerce) is one of the major contributors to being economy. It not moreover helps in the development of the business but also helps in the development of the countrys economy. However, any business in the first place tapping into international arena has to go through various study and research to adopt proper marketing mix, physical evidence and performance forrader debut itself worldwide. It also needs to be aware of all the rules and regulations (cyber) of its host country. at one time capitalized upon, e-commerce can produce great profits. militant ForcesThis force is recently introduced in the PEST analysis. Keeping in view the growing competition world wide, analysis of ones matched forces has become an inbred to succeeder. Gathering information about competitors strategies and progress has become very chief(prenominal). Due to change magnitude trade barriers, WTO, EEC, OPEC and collaboration with other world commun ities, national border are no more existent. Now every country is a part of a bloc. This in turn has fiercely increased competition as a result of lower labor costs, enhanced technology and earnings facilities.Now production is done in one country, assembly in other, incase and shipment in another due to advancements in transportation and e-commerce. Companies progress to to achieve competitive edge as cheap producers. In such a promptly changing environment with international competitors attack every country, keeping pace with, in fact going ahead of ones competitors is the only key to progress. However, it is essential to sustain a track of strategies and policies of an industrys competitors but ethical concerns in gathering password data should not be neglected.Competitors of female horse B. The family that study under fashion industry is mare B the largest fashion house of Pakistan. The guild when formed was the first to start business with a retail outlet while all her competitors were doing business from home. Today, after ten years in business, maria B faces competition from direct as well as corroborative 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 validatory competitors too that pose a threat to maria B. They include local textile shops, local tailors, and famous notices like Gul Ahmed and Bareeze that are dealers in un-stitched garments. PORTERS basketball team ( competitive) Forces Evaluation at a lower place a de soak upated summary of the five important competitive forces is slide byn pic Rivalry among competing firms Fashion industry in Pakistan is yet in its progressing stages. It has travel 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 rivalry between fashion designers of Karachi and Lahore in terms of ideals have prompted every alliance in the industry to strive to develop a competitive edge and nationally expand as large as possible. This is mainly because the few designers that exist at throw are enough in sizing and capability. The internet is still not used as a primary source of doing business but there is a growing drift 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 rivalry. In the beginning, fashion designers pursued all their efforts towards bridal dresses. only when as customers are becoming more and more aware and demand of brand apparel is increasing, these designers are finding clean areas of development by focusing more on casual outfits. However, this industry is still not matu re enough in its life cycle that price cutting could be a common phenomenon.There is not much time before these few designers are faced with increased competition particularly as standards of living become high and international designers set up their business in the country. belligerent rivalry in this case is comparatively high. Threat of revolutionary entrants Threat of revolutionary entrants in Pakistani fashion industry is high. This is because the barrier to enter this market is quite low because no foregoing fix is involve 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 encourages the setting up of new businesses. In regards to technological requirement, f ashion 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 commute productsIn an apparel industry, there is no substitute for clothes, but there may be a substitute on the procedure of procedureing them. Fashion industry, too faces 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 give 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 embroide ry 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 negotiate prices as there are a large number of suppliers available to provide the same or even better raw materials at passable 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 opinionated they cannot be negotiated upon. If talked about competing brands, a purchaser cannot easily switch to other options. fruits are homogenous and the prices may either be uniform or else a buyer has to trade-off with quality of the product. External depth psychology SW(OT) OPPORTUNITIES THREATS fatten into Emerging Economies Competitors Enter invigorated Product Markets tender entrants Acquire More Companies Substitutes Ecommerce Sales Economic mooring hit the ceiling Standalone Stores Political situation International Economies and trade restrictions Brand Cannibalization External Factor Evaluation (EFE) Matrix This hyaloplasm evaluates a fraternitys external environment the opportunities and threats that are faced by an industrys companies in the external environment. Our ac union of concern is female horse B.A summary of all the factors that are faced by this company and its ability to capitalize on them or tackle threats is minded(p) External Factor Evaluation Matrix Opportunities Weight grade Weighted Score 1 Expand into Emerging Economies 0. 14 3 0. 42 2 Enter New 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 situation 0. 5 2 0. 10 6 International Economies and trade restrictions 0. 06 3 0. 18 7 Brand Cannibalization 0. 09 2 0. 18 1 3. 23 Fashion industry provides a promising future of growth and development in Pakistan. formerly established, it has the potential to contribute positively to the national economy. Company Introduction female horse Bs entrance into fashion world can be summed up in adage she came, she saw, she conquered. (Ghafoor, reflexion to face with mare B. , 2002) mare B. was the first fashion house in Pakistan. She launched first outlet in Lahore in 1998. Since then, maria B. has grown leaps and bounds. With her vision incessantly clear to experience mare 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 right 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, female horse B. also launched her first range of accessories of post and handbags. (Randhawa) female horse learned that there was awful scope for Pakistani fabrics in the international market and was determined to agnise her mark globally. As she said, Im a staunch patriot I extremity to take Pakistans name in the international fashion scene. I insufficiency to show people around the world what a great heritage we have. That rattling is the core philosophy of my business. We want to go into the international market and prove ourselves as a Pakistani brand name. ( mare B. Fashion Designer) For her, fashion is simply an extension of self, an expression of individuality, of art and modernism. It has no borders or divides. Its making love and it is a constant evolution of society. It is transient and global. (Ghafoor, Face to face with mare B. , 2002) She changed the previous begum darzun (societal tailoring) culture and brought new horizons in the fashion, quite the apparel industry as a whole with her pret-a-porter collection of penetrative and high-toned dresses that defined femininity with style. She believes that, Fashion today is not dictated to woman. The modern confident(p) woman chooses what she wears. Ghafoor, Face to face with mare B. , 2002) As a designer, she endlessly mat up her responsibility to translate and enhance each persons natural style into fashion recitals according to current trends. She believes in talents and dedication if a person is not talented enough or cant make fashion his or her life, s/he should be in another field. She strongly suggests, weart 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 ma re B. 2002) accepted by BBC, in 2002, over a three month running programme for Asian woman as the like label for modern professional running(a) 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 revolution 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 been, she is even more passionate and brazen-faced to set trends for the future and believes that she can go further than others in bringing Pakistan on the world map of fashion. Randhawa) You have to aim high and I do want to get to New York, Milan and Paris one day. Maria B. (Maria B. Fashion Designer) interior synopsis of Maria B. Zurain Imam, a renowned fashion critic said that Maria B. has become a veritable couture quality household brand. (Ima m, The A to Z of Fashion, 2006) Maria B. has become a hot name with her exciting shoots and the rapid expansion of her outlets. Her achiever has single handedly shown that fashion can be successfully open in Pakistan as business. (Dawood, 2003) No doubt, Maria B. has put send a splendid example a of successful business venture by expanding worldwide in just a short span of time. entirely of this requires supplying and organizing strategically. Maria B. believe that its the companys strategic vision of promoting Maria B. as a Pakistani brand recognized world over has contend a very important role in its success. She believes that with good worry, marketing, leadership, research, cost and intelligence officer measures, a company can sincerely go ahead. Management Management at Maria B. like any other successful company is all about good planning, organizing, motivating, leading and controlling. The company has a strong prudence philosophy that believes is integrity, talent and dedication if you cant make fashion your life, choose another field. (Ghafoor, 2002) readiness 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 col between the present and the future. It enables a company to gather the necessary resources and carry out deputes 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 finalitys. 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 authority and effe ctively and efficiently allocating resources for any company. (David, 2005) At Maria B. defining draw off of authority is important. The company started off with a functional structure with Maria being the chief executive officer as well as the controller all designing and marketing activities. With the companys expansion across the borders, Maria B. now is developing towards a more divisional structure with line of command spreading internationally. Since the Maria B. accoutrement launch in 2006, and the companys aggressive intensive strategies through market and product development, it wont be long till Maria B. starts works(a) 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) storage allocation of resources is also another important decision 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 special objectives. Staffing, on the other hand is the essence of human resource management.It includes activities of recruiting, interviewing, testing, selecting, orienting, training, developing, evaluating as well as rewarding. (David, 2005) The Maria B. factory currently employs over 200 players, 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 finished finishing to a Maria B. dress. to each one employee is required to make a try on of embroidery or hemming etc that s/he specializes in. In case of training, the companys HR manager is prudent for developing and grooming the workers for perfection.The company believes in come to 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. Moreover, the in lieu of employee safety, every process in the factory is automated. Training is given to operate 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) Controlling 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 see with time and this increases their loyalty to the company which is very essential particularly in present times of economic slump. merchandising Marketing can be described as the process of defining, anticipating, creating and fulfilling customers needs and wants for products and/or services. This is exactly what Maria B. invested upon.The company created the demand of brand 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 identity 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 considerable target market for her product and then launched the first Pakistani fashion house. She changed the concept of fa shion from the dress of the work 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 filling of colors defines that each and every line is tailored to specific clienteles needs wild and fearless prints for the youngsters and unbiased 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 routine catered effectively to.She take care of everyones needs and desires and relies on adequate promotion activities to retain previous as well as capture more market. Marias pret line of clothing includes formals, semi-formals, caller line, mafia line, bridal line and her new MGirl line. Together with t his, she also started her own ancillary and jewels line in 2006. Mafia line this is a casual, ready to wear line. Mafia is made mostly in thoroughgoing(a) 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 formal, it plays with exquisite embroideries in resham and crystals on chiffons, silks and georgettes.Formals Perfect for spousal relationship needs, this line consists of silks, jamahwars and heavy hand embroideries in crystals and salma dapka (traditional eastern embroideries) Maria. B Brides A rigorously 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. offering everything from clothes to bags and space to accessories. It guarantees satisfaction to the woman who wants it all. It caters to the fun and brazen-f aced and is certainly not for the fainthearted. Maria. b Jewels Introducing semi-precious jewelry for weddings, this jewelry in platinum surface 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 Pakistan. (Mansoor, 2008) All this is the result of Marias intimidate 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 reach News, mugful magazine, Instep magazine, Fashion periodical, SHE and others. For PR, Purple Arts have been Maria B. s official consultants. (Shaukat, 2009) in like manner 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 adequ ate promotional level. However, the recent Lux Style Awards Red Carpet and Ramp Events (Imam, 2005) and 2007 field of study 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 socially responsible person. She holds ramp events at the national as well as international level to help the deprived 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 ski tow money for Afghan refugees in the country. (Malik, 2001) In a nutshell, Maria B. s success is a fusion of excellent dress designing as well as sophisticated promotion done nationally as well as internationally. set and Distribution This is an important decision in marketing. As for Maria B. this decision of prici ng 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 ceaselessly 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 enterprise her outlet in every city of the 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 send haute-couture items such as evening wear, bridal wear etc. to UK/Europe, and then eventually to the US/Canada, Singapore and Australia. She remains undaunted by the global competition and says you have to aim hi gh and I do want to get to New York, Milan and Paris one day. (Maria B. Fashion Designer) As for pricing, it is well alter 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 skimming 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 search 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. query hence, is always unfavorable 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, keepin g in mind the asp viperirations 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 fledged strong-mindedly operating financial part 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. Thought 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 crying(a) profit margin was found out to be 98. 25% which is quite private detective 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 Development Research and Development (R &038 D) has become a necessity in todays constantly changing era. Unfortunately, at Maria B. no specific R &038 D incision 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 &038 D department. Production and Operations Maria B. works on all types of clothing, from cotton, linen, silk, hand woven 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 highly mechanize 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 product is in place, the company plans to have one installed s oon 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 ANALYSIS 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 decrease and converted in order to prove beneficial for the company. STRENTHS WEAKNESSES Wide product line No missionary post statement toughened Brand recognition No indite vision statement Almost all brands have a niche focus Brand cannibalization Decentralized management escape of focus Diverse brand portfolio want 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 downplay the weaknesses. Company Maria B. STRENGTHS Weight evaluate Weighted Score Wi de product line 0. 21 4 0. 84 Strong Brand recognition 0. 15 4 0. 6 Almost all brands have a niche 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 wearied advertisement efforts 0. 05 3 0. 15 need of brand idea manduction 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 anesthetic 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 Increase print advertisement and e-marketing 1 Expand into emerging 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 break 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 conquering the land in the name of Pakistani fashion with her whimsical and bold styles. And one day, she surely plans to become Pakistans top international fashion label. Bibliography David, F. R. (2005). stra tegic Management concepts and cases (11 ed. ).South Carolina scholar Hall. Dawood, T. U. (2003, May 1). The future of fashion. Retrieved January 11, 2009, from Dawn The review http//www. dawn. com/ periodical/review/archive/030501/review1. htm Embassy of Pakistan. (2007, shocking 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). single 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 Sta ts usage and population statistics http//www. internetworldstats. com/asia/pk. htm &8212&8212&8212&8212&8212&8212&8212 Salwa Shaukat L1S06BBAM0001 Javeria Maqbool L1S06BBAM0032 Sana Azhar L1S06BBAM2024 Kanwal Tariq L1S06BBAM2037 Submitted To Professor Nasir Riaz external and internal analysis Industry Fashion Industry Company Maria B.