As the year 2020 is rushing through its first quarter, we are witnessing new brands emerging in the race of the best. However, Zara is one of the few brands that has been ruling the fashion trends for quite a while now. Since its inaugural in 1975 by Amancio Ortega, Zara’s goal always has been to exponentiate its recognition. The clothing line started off by featuring low-priced lookalike products of famous, high-end clothing lines. But, with time it shifted its interests towards the creation of a brand and practicing originality.
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Marketing Mix of Zara
Zara’s primary focus has been towards style with affordability. This has helped the brand to build a reputation in the fashion industry. Most people adore designer clothes, but the price tags advise them otherwise. That’s when Zara swoops in to provide premium quality products with the latest designs at insanely affordable prices. But how does Zara maintain the standards without degrading the quality?
The marketing mix of Zara depends on the following factors:
Product
In the beverages industry, we happen to see hundreds of brands coming in each year with subtle improvements, enhancements, and uniqueness in their products to try and become the next big thing. But, most of them fail. That’s because every other company wants to start off and achieve the level of popularity Coca Cola has, from the word go. They ignore the rule of following the basics and investing time, which was the key to success for Coca Cola.
The same goes for the fashion industry. Multitudes of emerging brands want to be as successful as Zara currently is, in 1/10th of the time. As a result, they end up perishing sooner than it took them to build.
Zara is the Coca Cola of fashion. Its products are loved worldwide due to their originality, and simplicity. It follows a unique selling proposition: to create the latest trends. Mostly, new styles appear in the stores in a period of two to four weeks, which is then monitored to study the progress of the designs. As a result, an underperforming product is immediately pulled out from the stores to be replaced with a new design.
Pricing
Since Zara banks its sales and reputation on affordability, therefore its product prices always have to meet the reasonable price threshold to continue satisfying its customers. The main focus of Zara is the average customer that wishes to remain updated with respect to fashion without straining its wallet. This is the pivotal reason for Zara being popular amongst millennials.
Promotions
While the majority of brands depend on marketing to increase brand recognition, Zara practices the policy of “zero investment in marketing”. This unique yet surprisingly effective strategy helps the fashion line to advertise opening new stores. The store heavily relies on the importance of brand recognition through word-of-mouth which is satisfied with their attention to each and every detail of their showrooms.
Place
Since Zara believed in spreading its radius as much as possible, it is now present in several nations operating successfully with more than 2000 stores. Furthermore, the leading clothing brand also deals in online shopping which has allowed it to expand exponentially.
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