BRAND EQUITY MANAGEMENT BRAND AUDIT PROJECT OF Instructor: Assoc. Prof. Dr. Elif Karaosmanoğlu Students: Amine Kübra Aktunç Ramsha Hafiz Buse Şen
Executive Summary Zara is a flagship store of the Inditex group, it's one of the most profitable brands. This report presents an understanding of the brand audits of Zara’s key success factor in branding that it can differentiate themselves in the market. In the following report, analyzing and understanding marketing strategies of Zara and competitors. Zara is the market leader of fast fashion. However, the Sustainability of fast fashion is hard; we understand Zara’s ad campaigns and marketing mix. By understanding fast changing fashion trends and short product life cycles has eventually changed customers’ preferences. Zara has been one of the brands that aced the art of bringing something new on the table everytime and keep the customers coming. In this report we are trying to understand how Zara manages the huge success of its brand and their marketing strategy without even doing any advertisements unlike their competitors and still being of one of the most profitable brands internationally. Further in this report we tried to study how Zara gradually managed to make its presence felt on social media without any big campaign or advertising. And after going through the detailed study of Zara in regards to its positioning strategy, marketing strategy and targeting we also tried to study Zara’s strengt h, weakness, opportunities and threats from there we got to know a lot of insight of Zara’s functioning one of the biggest take away from that study is that we got to know how Zara always manages to be ahead in the business in terms of its competitors. Understanding these key concepts helped us in better understanding of Zara’s pricing decision and fast fashion concept. Following the 4P’s of business we started to understand the business strategy of Zara. We also have in detail studied the brand pyramid of Zara which enables us to know the core concepts of Zara fashion house. And in the end after all the studies with our understanding we made the recommendation of what we thought will be better for the brand, the biggest one being in today's competitive age Zara shouldn’t rely on just word of mouth marketing, It's time Zara should consider opting for a good marketing plan so that they could make the brand even better than before and that will also help the consumer feel the newness of the brand which will convey the brand promise better then before, earning new consumers and establishing the old ones. We concluded this report on the note that yes Zara is one of the most profitable brands internationally but still in this ever changing and fast growing world Zara needs to adapt to the new technique of marketing and consumer engagement to maintain its position.