Get Instant Help From 5000+ Experts For
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing:Proofread your work by experts and improve grade at Lowest cost

And Improve Your Grades
myassignmenthelp.com
loader
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!
Free Quote
wave

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
Intended Learning Outcomes

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.

Strengths

· Having the brand support of H&M will help them to push their products in the market of Singapore.

· H&M is having good brand reputation in the market along with positive market presence. Thus, it will be easy for Arket to have their operation in Singapore.

· Having the eco-friendly products in the portfolio will help them to positively position the products in the market (Aakko and Koskennurmi-Sivonen 2013).

· Diversified product portfolio will help them to cover more customer segments and thus the dependency on single product line is less for Arket.

Weaknesses

· The brand is new and this it will take some time before competing with the established brands in the market.

· Products of Arket are targeted towards higher end customers. Thus, the volume of the sales will be less as mass market will not be targeted (Toften and Hammervoll 2013).

·  Singapore is having low population and thus, the market opportunity for Arket will be low.

· Being a new brand in the market, market penetration is less for them.

Opportunities

· Market growth for sustainable fashion products is increasing along with the increase in the market opportunities.

· The economy of Singapore is enhancing and thus, the purchasing power for the premium fashion products are also increasing.

· Expanding in more product line or category under same brand will further enhance the opportunity (Turker and Altuntas 2014).

· Having online platform for shopping will help them to target and covers more numbers of customers.

Threats

· Sales of the products of Arket may eat up the market share of other brands of H&M.

· Entry of new players in the market will increase the competition and reducing the profitability.

· Frequent change in the taste and preference pattern of the customers will have negative impact on the business of Arket.

· Outsourcing of the entire production process will increase the dependency of them on the suppliers. Thus, it will increase the risk of them in their course of business (MoosaviRad, Kara and Hauschild 2014).

Political

· Singapore is having positive political environment, which will have favorable impact on the business operation of Arket.

· However, their franchise in the Singapore will have to adhere to the political rules and regulations of Singapore. Thus, it will be different for them to balance the difference between the political regulations of Singapore with that of their home country, Sweden (Haltiwanger, Scarpetta and Schweiger 2014).

· Business regulations in relation to the investment in Singapore will also be different with that of the Sweden. Thus, it is important for Arket to adhere to these regulations.

· Moreover, due to the fact that, Arket will operate as a separate brand of H&M. Thus, they have to enroll themselves as a separate and new entity in the market of Singapore.

Economical

· The GDP growth of Singapore is showing positive trend and thus, it will be beneficial for Arket to market their products (Tremewan 2016).

· Due to the fact that they outsourced their process of production, the production cost will be lower, which will further enhance their profitability.

· However, threats such as economic slowdowns will have negative impact on their business operation (Morad and Balu 2014). This is due to the reason that, economic slowdown will reduce the purchasing power of the customers.

· In addition, the import duties in Singapore will increase the price of their products due to the reason that, Arket will import their products from their outsourced vendors.

Social

· Fashion portfolio of Arket covers both the genders. Thus, the social acceptance will be more for them.

· In the recent time, social perception regarding the sustainable products is positively enhancing. Thus, it will be a favorable opportunity for them.

· However, premium pricing will restrict the volume of the sales. Only the niche portion will get attracted (Bacik, Stefko and Gburova 2014).

· Marinating the effective working environment of their employees working for their outsourced process will further enhance the opportunity.

Technological

· Arket should always update themselves in latest technologies in order to stay ahead in the competition.

· They should initiate the use of latest technologies in the production process in order to have better quality products (Felkar, Jomo and Rasiah 2013).

· Technologies should also be initiated in the field of marketing and sales. This will help to target the customers effectively.

· However, huge cost and infrastructure are important for the technological advancement. Thus, it will have extra cost burden on Arket.

Legal

· Singapore is having various laws related to employee’s welfare. Thus, it is important for Arket to adhere to these regulations for their business operation.

· They have to maintain standard and effective salary structure and working condition for their employees in order to prevent the emergence of issues.

· Financial audit is important to be maintained due to the reason that legal regulations of Singapore made it mandatory for the business organizations.

· It is important for them to identify the conflict areas between their organizational policies and national laws of Singapore.

Environmental

· As earlier discussed, Arket promotes sustainable development. Thus, it will be easy for them to adhere to the regulations and standard related to environment.

· It is important for them to promote sustainable business approach in their entire business operation rather than just on one area. This will includes recycling of packaging materials and reducing the carbon footprint.

· Waste management should be taking care of by them in order to reduce the impact of their generated waste on the environment.

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 

Aakko, M. and Koskennurmi-Sivonen, R., 2013. Designing sustainable fashion: Possibilities and challenges. Research Journal of Textile and Apparel, 17(1), pp.13-22.

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

Ba?ík, R., Štefko, R. and Gburová, J., 2014. Marketing pricing strategy as part of competitive advantage retailers. Editorial Board, 9(4), p.602.

Felker, G., Jomo, K.S. and Rasiah, R. eds., 2013. Industrial technology development in Malaysia: industry and firm studies. Routledge.

Haltiwanger, J., Scarpetta, S. and Schweiger, H., 2014. Cross country differences in job reallocation: the role of industry, firm size and regulations. Labour Economics, 26, pp.11-25.

Li, Y., Zhao, X., Shi, D. and Li, X., 2014. Governance of sustainable supply chains in the fast fashion industry. European Management Journal, 32(5), pp.823-836.

MoosaviRad, S.H., Kara, S. and Hauschild, M.Z., 2014. Long term impacts of international outsourcing of manufacturing on sustainability. CIRP Annals-Manufacturing Technology, 63(1), pp.41-44.

Morard, B. and B?lu, F.O., 2014. Forecasting crude oil market volatility in the context of economic slowdown in emerging markets. Theor Appl Econ, 21, pp.19-36.

Sohel, S.M., Rahman, A.M.A. and Uddin, M.A., 2014. Competitive profile matrix (CPM) as a competitors’ analysis tool: A theoretical perspective. International Journal of Human Potential Development, 3(1), pp.40-47.

Toften, K. and Hammervoll, T., 2013. Niche marketing research: status and challenges. Marketing Intelligence & Planning, 31(3), pp.272-285.

Tremewan, C., 2016. The political economy of social control in Singapore. Springer.

Turker, D. and Altuntas, C., 2014. Sustainable supply chain management in the fast fashion industry: An analysis of corporate reports. European Management Journal, 32(5), pp.837-849.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). Market Opportunities And Competitor Analysis: A Case Study On Arket In Singapore Essay.. Retrieved from https://myassignmenthelp.com/free-samples/be511-marketing-management.

"Market Opportunities And Competitor Analysis: A Case Study On Arket In Singapore Essay.." My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/be511-marketing-management.

My Assignment Help (2020) Market Opportunities And Competitor Analysis: A Case Study On Arket In Singapore Essay. [Online]. Available from: https://myassignmenthelp.com/free-samples/be511-marketing-management
[Accessed 28 May 2024].

My Assignment Help. 'Market Opportunities And Competitor Analysis: A Case Study On Arket In Singapore Essay.' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/be511-marketing-management> accessed 28 May 2024.

My Assignment Help. Market Opportunities And Competitor Analysis: A Case Study On Arket In Singapore Essay. [Internet]. My Assignment Help. 2020 [cited 28 May 2024]. Available from: https://myassignmenthelp.com/free-samples/be511-marketing-management.

Get instant help from 5000+ experts for
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing: Proofread your work by experts and improve grade at Lowest cost

loader
250 words
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Plagiarism checker
Verify originality of an essay
essay
Generate unique essays in a jiffy
Plagiarism checker
Cite sources with ease
support
Whatsapp
callback
sales
sales chat
Whatsapp
callback
sales chat
close