Clothing Store Case Study

29/1/2009 Executive Summary This work is an approach to the panache industriousness of Pakistan which has bring about preferably a a conduct of come up in just a few old age. Ten to fifteen years from this instant, this at disco biscuittion was tranquil unkn confess to in reality exist to the pottyes. Later with the institution of elan councils and education centers under the enthusiastic few who pauperismed to confine a difference and promulgate this very(prenominal) institution of musical mode, did the very modal value labor took its concrete contour from the old tailor culture that at once existed. Today it is single(a) of the roughly come abouting industries in the country.The expression labor too, is influenced by discoverer exp ints be they genial, political, economic, scientific or steady combative, which serve as a chief(prenominal) driver for this exertion. moreover, relations with s fasten onholders mainly suppliers, distributors and n odes, and the strength and largeness of its competitors overly define activities in the personal credit epithelial duct. However, the relative strength of bear on of these external factors on the industry varies (as in any industry) and is computed with analytical tools identical PEST-C abridgment and Porters five forces appearancel.Nonetheless, spirt industry assures spick-and-span benas of egress and suppuration raw(a)fangled opportunities for employment. This industry promises a different national riddance that is serene and contemporary. Later, an extensive internal compendium of the both last(predicate)iance of appertain is carried out, which in this piece of work is maria B. maria. B. is one of the near intimately nonable places of Pakistan. A participation gear up watered to revolutionize the tailor-culture of app atomic number 18l qualification in our society. maria B. s a stigmatise that r to separately onees to all sectors of both the con ventional and urban female modality de art objectd fireed a unequa consume combination of pricing and the diversity in the direction life dahs that she offers. She is the sole(prenominal) occasion to choose all the need of different segments of the chars demographic covered under one roof. (Randhawa) She has been adopted by the modern Pakistani women along with the hip crowd as the latest cult say in recent years. This country previously never witnessed a accepted multinational pret-a-porter collection before marias infamous capital of France Collection in 2001. Her clothes argon a reflection of her own style. bearing Avenue Qu contrivanceistic creationerly, 2003) The sack student from the first batch of graduates from the Pakistan imbibe post of Fashion intent, female horse was apportioned in 1997 to represent Pakistan at the multinational asp viperiration in Belgium, Europe called Les Etoiles de la mode, an annual young indexs award. She do a major outside(a) media impact, and was the first Pakistani musical mode motive who created aw be(p)ness of Pakistani Fashion on the universe circuit, when she finished top 3 in the final rankings amongst 22 participating countries including global mien giants manage, France, Italy, Japan, and U. S. A.A media darling of the local anaesthetic anesthetic anaesthetic press, maria B. opened her first discharge in 1998 in DHA Commercial Block, Lahore at a time when her peers and seniors were tranquil operate from their homes, or at rented ho manipulations. Today, female horse B is immensely boffo and is the largest selling brand under a spirt designers label in Pakistan. (Randhawa) Her places are so exquisite and female horse considers them her strength. With her financial strength and international presence, mare B intends to bring a potpourri in the local fashion industry. pic conception Fashion in itself is a very abstract term save it embraces our anyday lives.The te rm has numerous different definitions and interpretations. According to The Ameri tramp hereditary pattern College Dictionary, fashion is the prevailing style or custom, as in dress or behavior something, such(prenominal)(prenominal) as a garment, that is in the rate of f pocket- surfaced mode the style singularity of the social elite. (Forbes Inc. , 1997). Fashion is an extension of self, an expression of individuality, of art and modernism. It has no borders or divides. Its warmness and it is the constant evolution of society (Ghafoor, 2002). Fashion is a social phenomenon common to many fields of human activity and thinking. To some, fashion is an art form. To new(prenominal)s, it is life.For more or less people it is a method of utilizing vestments, accessories and hair. Fashion is a mode to express yourself, to serve as an extension of your personality, or raze to camo your true self (Nellis, 1999). Fashion is a term commonly utilize to describe a style of cloth ing worn by most of people of a country. A fashion normally remains touristy for about 1-3 years and then is replaced by yet an some other fashion. nevertheless though there are a lot of reassigns in fashion, most people do non profitously except the limitings. A clothing style may be introduced as a fashion, but its use set outs a custom afterward be handed down from extension to generation.A fashion that comes and goes is called a Fad. (Fashion Forever What is Fashion? ) A lot has changed and evolved in the autobiography of fashion since the 1900s. As the cytosine dawned, fashion was an exclusive enterprise, the pursuit of wealth. The honest person in society circumscribetled for garments that were usually stitched at home. With time, however, net operative of neck of the woods tailors began to evolve into a retail history and the boom was followed by boutique selling. The 1930s were influenced by socialism, communism and fascism and womens fashion became much a nd more feminine in keeping with these right ideas.However, this period excessively saw the emergence of the culture of clubs and hence dresses became more body-hugging and colors went more deep and dark. The establishment of Indian and Pakistani photographic film has proved to be the inviolableest influence on the fashion in the decade. referable to western influence, the use of angarkhas, choghas and jamas had diminished considerably by this time, although the ceremonial pugdi, safa and topi were wide pass around as ever. They had been replaced by the sherwani, which is still a standard event of formal dress for Indian and Pakistani men right away.Even though women were accepting change, they continued to cave in the peshwaz, kurta, ghaghra and odhni at religious and ceremonial festivities, which were even sometimes made of imported fabrics. The 1950s saw the dawn of art colleges and schools and collect to the freedom struggle and the adoption of khadi by Gandhi, the de ath and handloom industries got more subscriber breed. The 1960s was one of the most shock-filled decades of the century, as it saw sweep fashion and lifestyle changes. Tight kurtas and churidars competed with mini-skirts abroad and at the same time, designers began to watch the need for cheaper, off-the-rack lines.The 1970s saw the export of conventional stuff and nonsense with the result that export surplus was sold within the country itself and hence, international fashion came to the sub-continent. Synthetics became popular and the clothes even flashier. In the 1980s humongous money ruled. In Pakistan too, silhouettes became more masculine and the shalwar kameez was made with shoulder joint pads. The influence of cable TV became more prominent and the teenage make do place boomed with youngsters who were more fashion conscious. (Baig, 2004) Mid 1990s and the beginning of the 21st century was marked fashion designers that changed the way fashion was contemplated.Desig ners extensively influence what forethought fashion volition go. These designers design and define early fashion evolutions. They are the motility setters of change in a culture by change in tastes and lifestyles of a community which is oft characterized by changes in current trends and styles. And changes in fashion bleed one of the major roles in these transformations. The activities of these designers, collaboratively, form the fashion industry. The fashion industry of Pakistan is outgrowth in volume with every passing day. The credit goes chiefly to the mainstream fashion people, who deal been instrumental in this change. Nisar, 2004) The industry has witnessed quite a mature spurt in the out get two decades evolved from a traditional darzi (tailor) culture into a mature and cutting-edge business (Imam, 2008). However the status of fashion designers in our country greatly owes to the fashion institutions, particularly the Pakistan School of Fashion Design (PSFD) n ow called the Pakistan pioneer of Fashion Design which was played its role in bringing out the potential and imparting training to young designers who today enjoy a reputed number in the retail food market.Some of these recognized figs embarrass mare B, Hasan Shehryar Yasin, Deepak Parwani and Maheen Khan (Qureshi, 2008). These are some of the few names which the fashion industry identifies with. Though the industry had been operating for quite a time, it actually got its institutional shape after the formation of the Pakistan Fashion Design Council. This council was an endeavour by twenty five of the countrys top and complete designers to create an infra social organization, a platform on which everyone could collaborate and represent their ideas and designs at the national and international level a place where they could ?Give structure to the fan outing vital industry. ? To liaise with the government bodies on matters pertaining to excise duty, taxation systems, discr iminatory tariffs for cargo etc. , and to work towards creating a fashion districts. ? To create an interface between the fashion industry and textile and crafts industry which are one of the most well-knit industries , which could revitalize them and in number, benefit the designers greatly by incorporating ethnic methods of weaving, printing and ornamentation to produce up-market, contemporary creations of standardized property and subsidized rates. To address the ever-changing postulate of the industry as it evolves and of creatively show- circumstance the work of Pakistani designers and find a commercial representation for them both, domestically and globally. (About Us, 2004) Some of the attempts that the council made was the initiation of a Pakistan Fashion Week congenital for business and trade linkages as well as for publicity pur wedges studying the present distribution/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 uniform sizing, be 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 resource and partly due to the difference in the views of designers in the East and South 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 Asiatic Institute of Fashion Design (AIFD) in Karachi. These two councils micturate carried out their separate activities despite unification efforts until lately.On celestial latitude 1, 2007, a mall 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 displa ying their work included 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 much(prenominal) a platform will amalgamate the vital forces of our fashion industry making it the hub of Pakistani fashion houses as is envisaged (Farooq, 2007). An Industry Analysis By definition, industry summary is business research that focuses on the potential of a unassailable. Basically, an industry analysis is conducted to addresses three definitive questions 1. Is the industry accessiblein other words, is it a realistic place for a new dissemble to enter? 2. Does the industry contain markets that are ripe for innovation or are underserved? . Are there positions that will avoid some of the prejudicious attributes of the industry as a whole? (Barringer & Ireland, 2006) A complete industry analys is of a firm will include its PEST-C analysis which will answer the first two questions, its Porters five forces analysis which will answer the latter question, followed by its External Forces Evaluation (EFE) ground substance on the basis of the opportunities available and holy terrors set about by the confederation of associate mare B. PEST C EvaluationIn this industry evaluation, P stands for Political, E sparing, S Socio-cultural, T Technological and C Competitive forces that impact the activities and opportunities and threats affecting an industry. Political forces These include any change in government laws tax laws, labor laws, patent laws, government regulation and deregulation etc, political stability, safety and environmental protection regulations, international trade regulations etc. (David, 2005) Changes in tax and labor laws, send away subscribe toly affect an industrys revenue and growth structures.A rise in the rates of these laws hind end cast up b usiness expenditures and may decrease revenues. Sometimes, with industries with low profit perimeters, such change can become a barrier to profitability. Political unbalance in the country in terms of political parties or weakness in governmental policy can prove chaotic for the industry. below such condition, this business, homogeneous any other business can be severely 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 queen, any of these parties can adversely affect or even lead to a ban on this industry which could prove distressful. too strict trade regulations and excise policies can affect international exports and hence, amplify the overall trade famine. Environmental degradation posses a great threat to survival of any industry. Hence, existence a socially and environmentally amenable corporation is an in icy for projecting a positive public image. stinting ForcesEconomic forces that impact an industrys activities include use up rates, income levels and earning patterns, charge wars, oil, currency and labor markets, inflation, unemployment, availability of credit, fiscal policies, consumption and spending appositeness living standards, international trade and cooperation policies etc. (David, 2005) right awayadays, there is a growing trend toward two-income households. Individuals place an increased premium on time spry availability and improved client dish (David, 2005). Customers are willing to counterbalance more if they can obtain it with ease.There is an increase in the average standard of living in the country with a decrease in poverty level of 10. 6% during the past four years (Economic trace of Pakistan 2007-2008). This can serve as an opportunity for the fashion industry to nurture profit margins through add-ons provided that the income levels remain stable. Changes in interest rates often occur due to chan ges in the exchange and trade market. A deficit in trade can account for rise in interest rates. Similarly and rise in the international terms of oil (as witnessed in recent 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 slow down business activities and at time generate no profit at all. The inflation rate the year 2007-08 was calculated to be 10. 3% as compared to the 7. 9% expire year which shows an increased inflation that disadvantaged business performance country-wide (Economic great deal of Pakistan 2007-2008). However, in an economically active country with debase trade barriers, serial price wars can increase competition 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 contributing to the economy. Socio-Cultural Forces Factors in the socio-cultural front that can influence an industrys operations include demographic trends, cultural changes, environmental patterns, population growth, business attitude, change in tastes and lifestyles, education, honest concerns, buying habits, religion, family, values and attitudes etc. Pakistan, with a population growth rate of 1. % is the worlds 6th most populous country with an estimated organic population of 160. 9 million. (Economic Survey of Pakistan 2007-2008) discover of this 74% of the total population of Pakistan lies in age grouping 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 have also flourished quite in the recent years, part ly owing to foreign competitors entering the market.This has led to an increased change in the lifestyles and mindsets of people. There is an increased trend towards atomic and dual-career families which serves as great opportunity for the industry as the buying personnel of the consumer is enhanced. Moreover, with change in lifestyles comes change in tastes. Nowadays people privilege using customized wares and this is an opportunity for the fashion industry to pursue its target merchandising strategy. Fashion industry is an industry for the youngsters. With such a large and remunerative target market, this industry can earn huge profits, provided it sufficiently focuses of their needfully and interests.In view of this, fashion industry collaborated with the PBA (Pakistan Broadcasters association) to launch a fashion channel worldwide last year by the name of ETNL (Style Dunia & Youth) which is being launched soon in the country (Pakistan Broadcasters Association (PBA), 2007 ). Religion and ethical preferences too, play a major role in shaping strategies and marketing point of intersections, oddly if one moves from culture to culture. Fashion industry in Pakistan, therefore has to draw back into consideration the limitations that ethics, culture and religions imply on clothing nationally as well as internationally.Technological Forces Though fashion industry is not technologically driven, but is has now become a necessity specially if an industry or fellowship deprivations to maintain competitive edge or tap into international arena. The focus of todays industries is on mass customization as well as mass end product which are not possible to achieve if it is inept in engineering. Several factors impact an industrys technological consideration. These are, Government spending in research, changes in entropy Technology, net and Mobile Technology, energy use and be, and international transaction costs etc.Technology is one of the mogulful sources of marketing in todays era. The world is now a global village. ontogeny in technology, curiously the earnings helps cover a large number of consumers thus, percentage a business reach a large target market in a short time span. According to estimates of 2006, the global internet usage accounts for 21. 9% of the total world population with Pakistan alone, having a total usage of 7. 2%. (UNDESA, 2006) This is a very attractive opportunity for the fashion industry in case fashion designers start e-selling. world-wide marketing (e-commerce) is one of the major contributors to world economy. It not only helps in the development of the business but also helps in the development of the countrys economy. However, any business before tapping into international arena has to go through various study and research to adopt proper marketing alloy, personal evidence and performance before launching itself worldwide. It also take to be aware of all the rules and regulations (cyber) of its h ost country. Once capitalized upon, e-commerce can produce great profits. Competitive ForcesThis force is recently introduced in the PEST analysis. Keeping in view the growing competition world wide, analysis of ones competitive forces has become an essential to success. Gathering information about competitors strategies and progress has become very authoritative. Due to diminishing trade barriers, WTO, EEC, OPEC and collaboration with other world communities, 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 internet facilities.Now production is through in one country, assembly in other, packaging and shipment in other due to advancements in transportation and e-commerce. Companies strive to achieve competitive edge as low-cost producers. In such a promptly changing environment with international competitors invading every country, keeping thou wit h, in fact going ahead of ones competitors is the only key to progress. However, it is essential to have a track of strategies and policies of an industrys competitors but ethical concerns in realiseing intelligence data should not be neglected.Competitors of maria B. The company that study under fashion industry is mare B the largest fashion house of Pakistan. The company when formed was the first to start business with a retail tone ending while all her competitors were doing business from home. Today, after ten years in business, female horse B faces competition from direct as well as indirect 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 indirect competitors too that pose a threat to female horse B. They include local textile shops, local tailors, and famous brands like Gul Ahmed and Bareeze that are dealers in un-stitched garments. PORTERS pentad (Competitive) Forces Evaluation Below a diagrammatic summary of the five important competitive forces is wear outn pic Rivalry among competing firms Fashion industry in Pakistan is yet in its progressing stages. It has moved 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 company 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 present are live in size and capability. The internet is still not used as a primary source of doing business but there is a growing tendency among designers, particularly the established ones to use internet for trade purposes nationally and internationally.Infla tion and changes in clients perceptions and attitudes is also a driving force toward increased competitive rivalry. In the beginning, fashion designers pursued all their efforts towards espousal dresses. But as customers are becoming more and more aware and demand of branded apparel is increase, these designers are finding new areas of development by focusing more on casual outfits. However, this industry is still not mature 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 game and international designers set up their business in the country. Competitive rivalry in this case is comparative degreely in high spirits. Threat of new entrants Threat of new entrants in Pakistani fashion industry is high. This is because the barrier to enter this market is quite low because no previous experience is required to start doing business in a pparel, 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 promotes the setting up of new businesses. In regards to technological requirement, fashion industry does not require any cutting-edge technology to keep at pace. Therefore, if one needs to get into fashion conception, it is quite easy. Potential development of rilievo productsIn an apparel industry, there is no renewal for clothes, but there may be a substitute on the procedure of processing 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 d ue 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 bare-ass materials required in this case are textiles and ornamentation materials. These two industries textiles and embroidery 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 negotiable 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 fixed they cannot be negotiated upon. If talked about competing brands, a buy er cannot easily switch to other options. Products are homogenous and the prices may either be uniform or else a buyer has to trade-off with quality of the product. External Analysis SW(OT) OPPORTUNITIES THREATS fan out into Emerging Economies Competitors Enter overbold Product Markets New entrants create More Companies Substitutes Ecommerce gross revenue Economic Situation Expand Standalone Stores Political patch transnational Economies and trade restrictions Brand Cannibalization External Factor Evaluation (EFE) Matrix This matrix evaluates a companys external environment the opportunities and threats that are faced by an industrys companies in the external environment. Our company 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 given External Factor Evaluation Matrix Opportunities Weight Rating 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 rising of growth and development in Pakistan. Once established, it has the potential to contribute positively to the national economy. participation IntroductionMaria Bs entrance into fashion world can be summed up in adage she came, she saw, she conquered. (Ghafoor, Face to face with Maria B. , 2002) Maria 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 ever edify to make Maria B. Pakistans firs t 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 franchise outlet in London. The say 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 across the country over Lahore, Karachi, capital of Pakistan, and Faisalabad. (Randhawa) In 2006, Maria B. also launched her first range of accessories of raiment and handbags. (Randhawa) Maria learned that there was tremendous scope for Pakistani fabrics in the international market and was determined to make her mark globally. As she verbalize, Im a staunch patriot I want to take Pakistans name in the international fashion scene. I want to show people around the world what a great heritage we have. That really is the core philosophy of my business. We want to go into the international market and pr ove ourselves as a Pakistani brand name. (Maria 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 passion and it is a constant evolution of society. It is transient and global. (Ghafoor, Face to face with Maria B. , 2002) She changed the previous begum darzun (societal tailoring) culture and brought new horizons in the fashion, rather the apparel industry as a whole with her pret-a-porter collection of exquisite and elegant dresses that specify femininity with style. She believes that, Fashion today is not dictated to womanhood. The modern cocksure woman chooses what she wears. Ghafoor, Face to face with Maria B. , 2002) As a designer, she incessantly felt her responsibility to translate and enhance each persons natural style into fashion statements according to current trends. She believes in natural endowment and dedication if a person is not talented enough or cant m ake fashion his or her life, s/he should be in another field. She strongly suggests, Dont be in fashion because you want to be fashionable or make money be in it because you feel that you can contribute to it differently youll be just one of the thousands who have kaarigars (tailors) at home and think that they are designers (Ghafoor, Face to face with Maria B. 2002) Recognized by BBC, in 2002, over a three month running program for Asian woman as the preferred label for modern professional secret agent 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 endlessly been, she is even more passionate and daring to set trends for the future and believes that she can go merely 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 genus Paris one day. Maria B. (Maria B. Fashion Designer) upcountry Analysis of Maria B. Zurain Imam, a renowned fashion critic said that Maria B. has become a veritable couture quality household brand. (Imam, 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 success has single handedly shown that fashion can be luckyly open in Pakistan as business. (Dawood, 2003) No doubt, Maria B. has put forward a splendid example a of successful business venture by expanding worldwide in just a short span of time.All of this requires mean and organizing strategically. Maria B. believe that its the companys strategic vision of promoting Maria B. as a Pakistani brand recognized world over has played a very important role in its success. She believes that with good management, marketing, leadership, research, cost and operative measures, a company can really go ahead. way management at Maria B. like any other successful company is all about good planning, organizing, motivating, leading and controlling. The company has a strong management philosophy that believes is integrity, talent and dedication if you cant make fashion your life, choose another field. (Ghafoor, 2002) Planning 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 gap between the present and the future. It enables a company to gather the necessary resources and carry out tasks 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 terminations. 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 position and efficaciously and efficiently allocating resources for any company. (David, 2005) At Maria B. defining line of authority is important. The company started off with a functional structure with Maria being the CEO 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 miss spreading internationally. Since the Maria B.Accessory launch in 2006, and the companys aggressive intensive strategies through market and product development, it wont be long till Maria B. starts working at each production line separately at the organizationa l level. At present, the company employs more than 50 management staff in its outlets across Pakistan alone. (Randhawa) allotment 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 cautiously selected to give every single piece of work the designer finish. Motivating and Staffing Motivation means influencing people to accomplish specific 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. pulverization currently employs over 200 proles, 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 perfect finishing to a Maria B. dress. Each employee is required to make a sample of embroidery or hemming etc that s/he specializes in. In case of training, the companys HR manager is responsible for developing and grooming the workers for perfection.The company believes in equalise 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 fatigue 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 alter. 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 bas ed 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 persist ining them is essential if it wishes to avoid further training and hiring costs. It believes employees become experienced with time and this increases their loyalty to the company which is very essential particularly in present times of economic slump. merchandise 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 branded designer clothes through awareness. Maria B. made people shift from the traditional tailor-culture to demand more. Its surd marketing approach and use of appropriate mix of marketing made it develop a brand name, an identity which no other designer had before. Customer Ana lysis 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 fashion from the dress of the working 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 selection of colors defines that each and every line is tailored to specific clienteles needs barbarous and bold prints for the youngsters and neutral 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 occasio n 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, party line, Mafia line, bridal line and her new MGirl line. Together with this, she also started her own accessory and jewels line in 2006. Mafia line this is a casual, ready to wear line. Mafia is made mostly in pure cottons, khaddars, lawn, linens and embroidered cottons. This line is primarily day wear which is affordable and trendy. Semi formals This range is primarily flush wear- slightly more formal, it plays with exquisite embroideries in resham and crystals on chiffons, silks and georgettes.Formals Perfect for wedding needs, this line consists of silks, jamahwars and heavy hand embroideries in crystals and salma dapka (traditional eastern embroideries) Maria. B Brides A purely 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 shoes to accessories. It guarantees satisfaction to the woman who wants it all. It caters to the fun and fearless and is certainly not for the fainthearted. Maria. b Jewels Introducing semi-precious jewelry for weddings, this jewelry in platinum coated 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 daunting 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 tick News, Visage magazine, Instep magazine, Fashion weekly, SHE and others. For PR, Purple Arts have been Maria B. s official consultants. (Shaukat, 2009) Besides 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 adequate promotional level. However, the recent Lux Style demonstrates Red Carpet and slope Events (Imam, 2005) and 2007 National 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 raising money for Afghan refugees in the country. (Malik, 2001) In a nutshell, Ma ria B. s success is a alignment of excellent dress designing as well as civilise promotion done nationally as well as internationally. price and Distribution This is an important decision in marketing. As for Maria B. this decision of pricing 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 constantly 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 opening 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 t he 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, capital of Singapore and Australia. She remains undaunted by the global competition and says you have to aim high and I do want to get to New York, Milan and Paris one day. (Maria B. Fashion Designer) As for pricing, it is well adjusted 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 Research 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 marke t. Research hence, is always critical 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, keeping in mind the aspirations 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 full-fledged independently operating financial surgical incision was necessary. Maria B. has fully handled that.The company has an independent comptroller 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 gross profit margin was found out to be 98. 25% which is quite operative 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 & D) has become a necessity in todays constantly changing era. Unfortunately, at Maria B. no specific R & D department 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 & 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 mechanise 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 is in place, the company plans to have one installed soon 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 minify and converted in order to prove beneficial for the company. STRENTHS WEAKNESSES Wide product line No bearing statement Strong Brand intelligence No written vision statement Almost all brands have a niche focus Brand cannibalization Decentralized management neglect of focus Diverse brand portfolio Lack of Brand Idea share-out Internal Factor Evaluation Matrix (IFE) The IFE matrix evaluate s the strengths and weaknesses of the company in relation to the ability of its management to capitalize on the strengths and minimize the weaknesses. Company Maria B. STRENGTHS Weight Rating Weighted Score Wide 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 Weak advertisement efforts 0. 05 3 0. 15 Lack of brand idea sharing 0. 04 2 0. 08 issue forth 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 Competitors Hasan Shehryar Yasin (HSY), Nomi Ansari, Rizwan Beyg, Nilofer Shafid, Deepak Parwani. KEY victory FACTORS W Rizwan Beyg OPPORTUNTITIES 1 Expand to the northern areas of th e 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 merged identity. W1, W2, T1, T6 3 Economic recession 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 conquer ing the land in the name of Pakistani fashion with her ludicrous and bold styles. And one day, she surely plans to become Pakistans top international fashion label. Bibliography David, F. R. (2005). Strategic Management concepts and cases (11 ed. ).South Carolina Prentice Hall. Dawood, T. U. (2003, May 1). The future of fashion. Retrieved January 11, 2009, from Dawn The review http//www. dawn. com/weekly/review/ file/030501/review1. htm Embassy of Pakistan. (2007, August 26). sixtieth Independence Anniversary of Pakistan. Retrieved December 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. Retrieved December 2008, 25, from Authors Den http//www. authorsden. om/ scrutinise/viewarticle. asp? AuthorID=7807=5724 Ghafoor, B. (2002, October 3). Face to face with Maria B. . Retrieved January 11, 2009, from Authors Den http//www. authorsden. com/ chatter/viewArticle. asp? id=7292 Ghafoor, B. (2002, October 3). Face to face with Maria B. Retrieved December 26, 2008, from Authors Den http//www. authorsden. com/visit/viewArticle. asp? id=7292 Imam, Z. (2006, December 8). The A to Z of Fashion. Retrieved January 11, 2009, from Zurains Myriad of Magnificent Fashion opus http//blogs. myspace. com/index. cfm? fuseaction=blog. view&friendID=117772603&blogID=202859515 Imam, Z. (2005, August 14). The state of fashion.Retrieved December 26, 2008, from Dawn Images http//www. dawn. com/weekly/images/archive/050814/images3. htm Index. (n. d. ). Retrieved January 10, 2009, from Maria B. http//www. mariab. com/index. htm Malik, S. (2001, November 18). For a cause. Retrieved December 26, 2008, from Dawn Images http//www. dawn. com/weekly/images/archive/011118/images4. htm Mansoor, A. (2008, April 6). blistery Seat. Retrieved December 26, 2008, from Dawn News Images http//www. mariab. com/index. htmchronology Maria B. Fashion Designer. (n. d. ). Retrieved January 10, 2009, from Bargello http//www. bargello. com/pakistani-fashion-designer/maria-b. asp Official Facebook group of Maria B. . (n. d. ). Maria B. Entertainment and Arts Fashion. Retrieved January 11, 2009, from Facebook http//www. facebook. com/group. php? sid=cf9e88b3d9e1c006f773bf72df9c7fd7&gid=11631901591/group. php? gid=11631901591 Randhawa, T. (n. d. ). Home. Retrieved January 10, 2009, from Maria B. www. mariab. com/index. htmcontact Shaukat, S. (2009, December 16). Internal Analysis. (M. Belal, Interviewer) About Us. (2004, November ). Retrieved December 22, 2008, from Pakistan Fashion Design Council http//www. pfdc. org/pages/aboutus. html Baig, R. Q. (2004, December 25). From the dhoti to the shalwar. Retrieved December 27, 2008, from Dawn Young World http//www. dawn. om/weekly/yworld/archive/041225/yworld2. htm Barringer, B. R. , & Ireland, R. D. (2006). Successfully launching new ventures. Entrepreneurship , 1st, 4-6. Prentice Hall. David, F. R. (2005). Strategic Management concepts and cases (11 ed. ). South Carolina Prentice Hall. Farooq, H. (2007, October 30). Daily Times. Retrieved December 26, 2008, from Boulevard to be the hub of Pakistani fashion houses http//www. dailytimes. com. pk/print. asp? page=2007%5C10%5C30%5Cstory_30-10-2007_pg7_30 Fashion Forever What is Fashion? (n. d. ). Retrieved December 27, 2008, from stand for Quest http//library. thinkquest. org/J002932/What%20is%20Fashion. htmlFederal Bureau of Statitics. (2005). Population Survey. Forbes Inc. (1997). The American Heritage College Dictionary. Boston Houghton Mifflin Company. Ghafoor, B. (2002, October 3). Face to face with Maria B. Retrieved December 26, 2008, from Authors Den http//www. authorsden. com/visit/viewArticle. asp? id=7292 Imam, Z. Z. (2008, August 13). Pakistani Fashion fact of fluff? Retrieved December 26, 2008, from Ozer Khalid Bloogspot ht tp//ozerkhalid. blogspot. com/2008/08/pakistani-fashion-fact-or-fluff. html OZER KHALID. Nellis, C. (1999). A definition of fashion what it is, who decides whats in. Retrieved December 27, 2008, from About. om http//fashion. about. com/cs/historycostumes/a/whatisfashion. htm Nisar, Y. (2004). Moazzams Riwayat. Retrieved December 26, 2008, from Pakistan Media Monitors. Nisar, Y. (2004). Moazzams Riwayat. Retrieved December 26, 2008, from Paksitan Media Monitors http//pakistanmediamonitors. org/index. php? module=category&CategoryID=7&pageindx=3 Pakistan Broadcasters Association (PBA). (2007). Directors Report. PBA. Pakistan, G. o. (2008). Economic Survey of Pakistan 2007-2008. Lahore. Qureshi, R. (2008, August 9 15). Rapid GROWTH in the Fashion Industry . Retrieved December 26, 2008, from MAG http//www. magtheweekly. com/16/lahore. php Rashed, F. 2007, December 9). unity at the Boulevard. Retrieved December 26, 2008, from Dawn Images http//www. dawn. com/weekly/images/archive/07 1209/images1. htm UNDESA. (2006, December). Pakistan. Retrieved December 30, 2008, from Internet World Stats usage and population statistics http//www. internetworldstats. com/asia/pk. htm 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.