Global Fashion Industry & Business: A Case Study of Balmain Paris
Consider yourself a global manager in a given company, you have been asked to evaluate existing global activities and recommendations to the senior manager. You need to outline the vision of the company and its market expansion strategy within the industry it operates. Based on this evaluation, you have to propose a new product or service to expand its global appeal through secondary data analysis.
Report structure
Introduction
- Provide a brief background of Balmain Paris
- Outline the scope and purpose of the report.
Methodology
- Describe the data sources and reports consulted for the analysis.
- Highlight any constraints faced in accessing the required information
Analysis
- Part 1: Business Model Canvas
- Prepare a well-designed Business Model Canvas
- Part 2: Business Proposal Report
Background
- Provide background context of the company, main topics, structure, scope, and purpose of the report
Market Analysis
- Analyze macro and micro trends and issues faced by the fashion industry
- Discuss the impact of these trends and issues on the market sector
Current approach of the organization
Evaluate Balmain Paris’ current approach to global expansion and operations, in relation to a competitor
New Product/service details
- Propose a new product, service, or brand that addresses the global trends/issues identified in the market
- Summarize the segmentation, targeting, and positioning (STP)
- Discuss the 4Ps of marketing (Marketing Mix)
- Customer Value Proposition Canvas
- Communication strategy from an ethical perspective, outlining features, benefits, and positive impact
Customer Persona
Create a customer persona of a specific, sustainable target customer segment with key benefits to the product/service to them. Below is the sample of customer persona. Make a similar one for your product using a creative, colourful template
Conclusion
Summarize the key findings and recommendations (at least 3) for Balmain Paris
References
Minimum 10 references from company’s website, its annual reports, its news release, scholarly articles, books, research papers, consultancy agency reports, government publications etc in Harvard style
Key learning from this project
- Analyzing industry trends and market dynamics
- Evaluating a company’s global expansion strategies
- Developing new product/service ideas
- Creating marketing plans (STP, 4Ps, communication)
- Designing customer value propositions
- Building customer personas
- Considering ethical aspects in marketing
Answer to the question – How will you applying your learning in your future organization
Through this project, I gained valuable experience in analyzing global trends and market dynamics within the fashion industry. I developed skills in evaluating a company’s current global approach and expansion strategies in relation to competitors. Additionally, I learned how to conceptualize and develop new product or service ideas that address industry trends and market needs. I can create comprehensive marketing plans, including segmentation, targeting, positioning, marketing mix, customer value propositions, and ethical communication strategies.
Furthermore, I honed my skills in building detailed customer personas, which are essential for understanding and catering to target segments effectively. With these learnings, I can contribute significantly to your organization’s global expansion efforts, new product development initiatives, and marketing strategies. I can provide valuable insights, recommendations, and plans to drive business growth, enhance customer satisfaction, and maintain ethical practices in the dynamic fashion industry.