Marketing activities often make the finance and the marketing management become hostile as the budget is crucial in determining the exposure and success. However, there are some companies which seem to have some magic in their promotional arsenal.
Determining the marketing budget might always be an interesting phenomenon as all results or impressions will not be measurable. Hence there’s a big discussion whether you should make your budget big or small, and more imporant, how are you going to implement it?
Amancio Ortega, founder of who took destiny into his own hands deserves a medal in first place by becoming the 7th wealthiest man in the world. Starting off as a Railway worker’s son this is least to say, impressive.
The company makes sure that it’s located nearby luxurious stores so that it automatically gains a status of ‘ affordable luxury’. Advertising costs are close to zero.
With that comes their ‘ fast fashion’ strategy, which is about having a limited supply in a limited time. Thus, customers who are fashion conscious have to get to the store more often than usual. Competitors in respectively China and Australia have witnessed ‘murdering competition’ and have seen Zara’s stock after the launch in Sydney deplete in less than three minutes.
So by optimizing processes and designing them by being fast, you can gain a serious competitive advantage. No wonder that more renowned brands and designers are irritated due to the fast paced fashion production and relatively low quality.
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