Market Opportunities And Competitor Analysis: A Case Study On Arket In Singapore Essay.

Intended Learning Outcomes

1. By the end of the module you should be able to:
2. Understand the strategic significance of marketing and its relationship to organisational planning
3. Understand the nature of the marketing environment and its impact on marketing planning
4. Understand the buying processes of consumers and organisations
5. Understand why and how organisations undertake marketing research and how marketing researchinfluences product and service positioning and design
6. Understand how marketers segment their markets
7. Understand the market ers develop strategies in response to their competitive environment
8. Understand how marketers implement their strategies and plans

Current business scenario is the facing the issue of degradation of environment and business organizations are facing the challenges in order to overcome this. This is mainly due to the reason that, environmental degradation is having holistic implications on the entire society. However, in order to deal with this issue, different business sectors ranging from automobiles to fashion line, are introducing environment friendly products in the market (Li et al. 2014). These products are being made with the environment friendly ingredients and will have less impact on nature. In the recent years, fashion industry is witnessing the rapid growth in introducing sustainable products in the market by different brands.

Arket is one of the leading fashion brands from the stable of H&M. However, Arket is the newest brand from H&M in the market being established only in 2017 (ARKET 2018). It is having diverse product portfolio ranging from fashion products for men, women and children to the household and home décor products. From the very beginning of their journey, Arket have maintained the sustainable approach of their brands by selecting suppliers and materials accordingly.

This report will discuss about the internal and external environments of Arket along with the threats and opportunities. In addition, competitor analysis will also be done in this report in order to determine the level of competition for Arket in Singapore.

The above sections have discussed about the internal and external factors for Arket. However, apart from these factors, it is also important to determine the competition in the market where Arket is going to operate. The current scenario of fashion industry in Singapore is intensely competitive with the presence of good number of established players. Thus, it will be difficult for Arket to gain market share in the Singaporean market.

From the above perpetual mapping of Arket, it is being seen that, the main competitive advantage for the competitors of Arket is the higher market penetration compared to them. This is mainly due to the reason that, Arket is the new brand and they will take time to increase the market presence in Singapore (Sohel, Rahman and Uddin 2014). Moreover, the perpetual map also shows that, majority of the global players in the market are catering to the premium segments with their premium pricing. However, there are some local fashion brands, which are offering their products in lower prices.

Strengths

Thus, in order to have major market share in Singapore, Arket should first increase their market presence in Singapore with opening more branches. On the other hand, they should also increase the variants of their products. This will enable them to offer more varieties to the customers at the same price point of their competitors.

Conclusion 

Thus, from the above discussion, it can be concluded that, Arket is having favorable market opportunities in Singapore provided the economy of them is rapidly increasing. Moreover, it is also being discussed in this report that, fashion market in Singapore is highly competitive in nature. Thus, it is important for them to have effective marketing strategy to deal with it. Various threats and opportunities of Arket to be faced in operating in Singaporean market are being discussed in this report. Competitor analysis is also being done in order to measure the impact and approach of competition on them. It is being seen that, there are various global players, which are already operating in the Singaporean market. Some strategies are also been discussed to help them to cut off the competition.

Reference 

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ARKET. (2018). About. [online] Available at: https://www.arket.com/en_gbp/about.html [Accessed 8 Jan. 2018].

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