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How Was Social Media Influenced Zara Market - Dissertation Example

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The author of the study "How Was Social Media Influenced Zara Market?" assessed the impact of social media on the customers of Span-based fast-fashion retailer ZARA.  ZARA, the brand of Inditex group, has skyrocketed for success despite its contrasting model of business than typical fashion brands…
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?HOW SOCIAL MEDIA INFLUENCED ZARA MARKET? The introduction and involvement of technology is immense in the lives of individuals and businesses. Moreover, the social media component has taken strategic imperative for business in maintaining connection with its market while overcoming many barriers. Alongside it has increased the power of customers towards the products and services from businesses. With this defining and governing of social media at work, the study assessed the impact of social media on the customers of Span based fast fashion retailer ZARA. ZARA, the brand of Inditex group, has skyrocketed for success despite its contrasting model of business than typical fashion brands. The primary and secondary research based was conducted to assess the performance of successful ZARA in social media. The results revealed that customers value social sites of ZARA at a higher rate than competitor’s brand. The dominant reasons for this following remained the value attributed to customer driven fashion which in turn results in increased customers’ love for brand. The results have also revealed the potential of another inch of success for ZARA. This can be gained by moving a mile towards sales generation impulse at social media sites. TABLE OF CONTENTS ABSTRACT 1 TABLE OF CONTENTS 2 1. INTRODUCTION 3 1.1. BACKGROUND 3 1.2. AIMS AND OBJECTIVES 8 1.3. RESEARCH QUESTIONS 8 1.4. METHODOLOGY 9 2. LITERATURE REVIEW 10 2.1. SOCIAL MEDIA AND ITS ROLE IN THE BUSINESS 10 2.2. CHALLENGES OF SOCIAL MEDIA 14 2.3. IMPACT OF SOCIAL MEDIA ON CUSTOMER 15 2.4. MARKETING AND SOCIAL MEDIA STRATEGY OF ZARA 16 3. RESEARCH METHODOLOGY 20 4. DATA ANALYSIS 22 6. LIST OF REFERENCES 36 7. APPENDIX 40 1. INTRODUCTION 1.1. BACKGROUND Within the technological development and its intervention in businesses, the move of social media is being defined as driver of strategic imperative. Social media has resulted in massive wipe out of distance barrier across the world. Different social mediums have been developed for different purpose such as Facebook, Twitter, LinkedIn, YouTube, Google Plus, and so on. Each social medium is targeting different and overlapping set of user base. The core of wide range of benefits from social media remains in the increased power of customers towards business. Therefore, businesses also have to expand their presence to almost all social mediums in order to expand reach to the customers on the virtual world. Among different organizations that have received impact from the social media, the ZARA is also one of them. ZARA is fast fashion brand of the Spanish group Inditex. ZARA contributes nearly 66.11% o the total revenue of Inditex (Inditex, 2012). ZARA foothold in different market is as follows: DIVISION MARKETS NO. OF STORE AMERICA 18 219 EUROPE 43 1296 ASIA AND REST OF WORLD 25 410 (Inditex, 2012) Other highlights about ZARA are as follows: (Inditex, 2012) ZARA has set an example for businesses as it has become multibillion dollar brand without massive advertisement like other competitors (Parekh, 2013). ZARA only employees 0.3% of its revenue on advertisement and generates its success from word of mouth (Bhagwat, 2011). This word of mouth is generated from the highly fashion sensitive customer base of ZARA which constitute following age group and characteristics: (Sardar, 2013) This word of mouth and customer reviews from the business model of ZARA in contrast to the traditional model as follows: (Sardar, 2013) The social media has also impacted ZARA like other brands in the fashion industry. However, as a matter of fact that fashion retailer ZARA has always been in deviation to the typical trend of fashion retailer and have managed to won the game of competition, the social media standing of ZARA is also different and light than other brand (Bulman, 2010). According to the Akahoshi (2012) ZARA is a social brand for the reason that it has applied information from the social media to refine and update innovation and art in its products. The distribution of fans for ZARA for the last six months for facebook is as follows: (Social Bakers, 2013a) While people talking about ZARA have declined significantly since past six months: (Social Bakers, 2013a) Similarly within age of two years and four months, twitter followers of ZARA has increased since past six months while following has remained constant over the same period as depicted in the images below: (Social Bakers, 2013b) (Social Bakers, 2013a) 1.2. AIMS AND OBJECTIVES With the developed background about the study, the aim of this research is to find the level of impact on the market and customers due to the influence of multifaceted domain of social media. With this aim the study has set following objectives to be accomplished on the completion of this research: Identifying the level of impact of social media on fashion brands. Identifying the impact of social media on the customers of fashion brands. Role of social media in driving the behavior of customers of ZARA across the world. 1.3. RESEARCH QUESTIONS The research question is the postulate that is aimed to be answered by conducting a well defined research system. Owing to the rising dominance of social media on business and its customers, the research question for this underdevelopment study is to explore the impact of the social media has influenced the market of ZARA fashion brand. The results developed from this study will be a positive addition for the academic literatures and for social media strategist of ZARA. 1.4. METHODOLOGY The methodology is the systematically organized structure for the conduct of the research. The underlying research has employed the mix of the qualitative and quantitative research for effectively addressing the research question. For the qualitative component, the research has conducted the comprehensive review of already developed relevant literatures. On the other hand, for the quantitative research the closed ended questionnaire has been designed. The analysis of the information collected from the questionnaire will be done using the descriptive technique of statistics and the reference from the literature review developed. 2. LITERATURE REVIEW 2.1. SOCIAL MEDIA AND ITS ROLE IN THE BUSINESS Technology has transformed the entire businesses across the world. More importantly, the role of social media has been increasingly dominant on the business has been reinventing business models (Mullaney, 2012). Social media, irrespective of its technical definition has become the galaxy of sites which offers platform to the various modes of communication in the virtual world. The communication offers wide range of options from the Facebook feed, to twitter tweets, blogging, pictures on Instagram and so on. Statistics about the most used social media sites is as follows: (Malukas, 2013) (Malukas, 2013) (Malukas, 2013) (Malukas, 2013) Owing to the rising trend of social media, businesses in the contemporary world are deploying resources for connecting with existing and potential customers using social media. Businesses are investing in social media for harnessing many benefits which collectively can be categorized under the following heads (Merrill et al., 2011): The virtual and online existence for the brands. Quick response to the positive as well as negative development about company. Quick spread of information and word of mouth to masses about the brand. Forum for generating pool of recruits for the business. Forum for customer service where response to single customer addresses the enquiries of many. Cost effective and efficient way of generating customer view and engagement by contests Social media is consistently evolving with fact pace. The assessment of the year-on-year usage of social media for business is enquired in surveyed by Construction Marketing Association and declared that nearly 97% of business in 2013 with seven percent increase from 2012 use social media platform (CMA, 2013). Additionally, the change in the use of platforms for businesses has concluded following results: (CMA, 2013) Hence, the businesses have come to another front of competition where social media strategy success is taken as the success of the business. There have been many success stories that have originated with the use of social media. For instance, Moda Operandi, Stylyt, Burberry, Rent the Runway, ZARA and OscarPRGirl are some of the names from fashion industry that have managed to get most from their social media investments (McCrea, 2013). 2.2. CHALLENGES OF SOCIAL MEDIA In addition to the benefits from social media also demand that specific skill set shall be developed along with the shift in marketing strategies. Furthermore, it also requires organization to embrace new measures of success (HBR, 2010). Therefore, it is also important to review the improvement in the results generated from social media for businesses. The survey results in the similar context by Construction Marketing Association on September 2013 has revealed following results: (CMA, 2013) The above statistics reveals that the bombarded growth of social media has created friction in generating benefit these sites were aimed to drive for businesses. The dimensions defined in the above mentioned survey results also determine the ways in which the social media affect the customers. Therefore, the ultimate demand from social media investment, like other avenues, is to attract the customers to the brand and ensure that the attraction is also translated into sales is under pressure. Another survey with the Chief marketing officers (CMOs) reported that nearly half of the participants were unable chalk out the differences that social media activities have made in their respective businesses. Furthermore, nearly 36% can mark out the qualitative impact but the empirical benefits are still in grey. The similar survey further reported that budget to the social media is expected to increase by two times in the next three years and the similar pace of pressure for the results is also increasing on business (Anselmo, 2013). The discussion about the social media role has moved on from the benefits to the mistakes made by companies in using social media sites which in turn resulted in losses. The CIO has developed the list of mistakes made by companies in using social media platform which in turn results waste of resources invested in different platforms. Some of mistakes include developing page but ignoring the insights and trends from it, giving no attention or removing negative feedback instead of the giving due to response to the customer, using systems that create the impression of automated page than customized attention to the different customers, focusing on quality than quantity of the connection etc (Schiff, 2013). Hence, almost all mistake surface when user of the social site deviate from the objectives defined for social websites. 2.3. IMPACT OF SOCIAL MEDIA ON CUSTOMER It is important to notice that all social mediums at engaging existing and potential customers of the business on the virtual world. It is noteworthy that impact of social media on customers can be positive and/ or negative as well as direct and/ or indirect. The direct impact is as simple as the customers collect the customized and personalized information about the product, service and other areas of interest. There are many ways in which indirect impact on the customers comes to place. For instance, using data mining tools for tracking customers’ likes, dislikes, interests, purchases and other trends which enable business to target customers. This in turn results in driving the customers’ behavior in a way required by the business (Savitz, 2012). In addition to the simple illustrations of direct and indirect impact on customers by using social networking platforms, the positive impact on customers are generated in the form of increased awareness of the customers’ about the brands, current trends and other information etc. As the social media platforms are open ones where businesses have limited control over the comments of the customers (Mercer, 2013); therefore, the frustration of the customers can also turn down the other existing and potential customers. Hence, the impact that ultimately translates into sales can be fenced as the positive impact while aspects that result in the deprivation of business from additional sales generated due to social media can be regarded as the negative impact. 2.4. MARKETING AND SOCIAL MEDIA STRATEGY OF ZARA The Spanish fashion brand ZARA has distinctive marketing strategy in line with its distinctive business model. Contrary to competitors which use nearly 3 to 4 percent of their revenue for marketing and advertisement, ZARA uses only 0.3 percent of its revenue for the purpose (Bhagwat, 2011). Ferdows, Lewis, & Machuca (2003) quote that marketing executive of ZARA believes that word of mouth and stores are more effective modes of advertisement. Akahoshi (2012) declared ZARA the social brand as it has applied the social media form of technology to compliment art. DiMauro (2011) defines that the social media strategy of the ZARA is also developed around its ability to spot and translate trend into ZARA product with excellence. ZARA’s social media strategy implies crowd sourcing where participant are encouraged to post their photos. From the uploaded fashion pictures, fashion sense as well as future trends by the participants, ZARA picks the future trend on the basis of its successful imitation capabilities. Most of all these activities are conducted in the website called ZARA People (Akahoshi, 2012). There have been many evidences of the success of the social media of ZARA, For instance, Bulman (2010) reported that ZARA’s light social media strategy is aimed at encouraging people to love ZARA for an extra mile and it has been successful, also evident from the statistics below: (Bulman, 2010) All efforts of ZARA in social media remain to insist on its basic strategy of word of mouth and stores as defined by many analysts by reviewing the trends at ZARA social networking sites. For example, Bulman (2010) assessed that despite growing love as compared to competitors ZARA has not been successful in generating purchase intention among its socially interconnected customers. The statistics comparison for the words used to express love and buy intention for ZARA are presented as follows: (Bulman, 2010) Perdue (2011) assessed social media engagement of ZARA with H&M and Esprit and stated that ZARA has significant positive responses (on twitter) about the brand but the response frequency is significantly low. Competitors like ZAPPO and H&M are significantly in the game while Esprit has no twitter existence. Furthermore, ZARA in most often does not respond or re-tweet to the fans. Perdue (2011) stated that due to such social marketing strategies, the brand value of Esprit declined by nearly 28 percent, ZARA reported increase of four percent in the value while ZAPPO noted a billion dollar increase for online shoe store. Hence, it is important for the organization to effectively and efficiently use social media marketing strategies in leading business to a greater success. 3. RESEARCH METHODOLOGY Research is a complete set of activities directed to achieve defined objectives. For successfully achieving results, the system of methodology is defined that guides the research activities in a scientifically proven manner (Jankowicz, 2005). Furthermore, the research strategy for this study takes reference from the already developed model; therefore, is defined as deductive in system. As a matter fact, it is proven that organization almost across the world have changed their entire marketing plan with significant resources attributed to the social media while this research is exploring the impact of social media on the ZARA market; hence is deductive in nature. For the implementation of deductive strategy the applied approach is a combination of qualitative and quantitative research methodology. Qualitative is one that relies of the data that qualitative in nature while quantitative data employees the empirical information for assessment and addressing research questions. The research in order to provide the comprehensive set of resources will make use of primary and secondary data. Secondary data is the type of data that has been already collected in the past for any other objectives. The secondary data for the underlying research will be collected from the authentic sources such as research journals, books and other authentic web sources. The secondary data provides review of the literature already developed on the basis of which underlying research can be built. Also the secondary data provide support in assessing the data collected. Primary data, on the other hand, is one that is collected for the first time for the underlying research. The primary data benefits the study with the first hand information that has not been through any assessment. The customers of ZARA comprise large pool. As a matter of fact due to time, cost and other issues that pose limitation in accessing all the customers that have received impact due to social media. The research in such case employs the system of sampling proposed by the research methodology. The sample refers to the representative slice of the pie with the acceptable margin of error. The sample developed for this research is based on the 150 respondents. The tool used for the collection of information from the sample will be questionnaire. Questionnaire is the systematically structured set of postulates for the information collection on the basis of defined objectives. The closed ended questionnaire has been designed in order to collect the empirical evidence about the impact of the social media on the market of ZARA. The data collected from the questionnaire will be analyzed using descriptive analysis statistical technical along with the graphical representation and its alignment with academic literature. Hence, organized methodology will provide the evidence for the research question that is aimed to find the impact of social media on market of ZARA. 4. DATA ANALYSIS The primary data is collected using questionnaire from nearly 150 respondents. The analysis of the data collected from the respondents is done using the graphical representation and descriptive analysis technique of the statistics. In addition to this, the analysis has also conducted the review of the results and in relation to the literature review. The question-wise analysis is as follows: QUESTION #1: The first question enquired about the role involvement of the study participants with the social media. The resulting figures revealed that wide majority of the nearly 130 participants from total of 150 marked it important. These statistics are significantly important as regular users of the social media sites are able to provide the information of effect for the business. QUESTION #2: As a matter of fact there is wide range of the sites available at social media; therefore, for fulfilling the purpose of this study, it is important to have social media users with greater connectivity with fashion brands. Like other surveys reported in the literature review, large number of participants of the underlying survey is consistent follower of the fashion brands’ sites. Such visitors are significantly important as with their regular experience with brand’s site are able to identify the aspects on one site that attracts them while lacking on the site of other brand. Also such regular visitors’ provide more insight using which viewers of the site can be translated in product buyer.QUESTION #3: Incorporation of social media in business was directed by the objective to transform the website viewers into customers. For the purpose, it is important to developed review if the social media users do receive an impact from the information provided on these virtual connectivity sites. The responses from the participants states that social media users are immensely influenced by the content available on the site. The results are in alignment to the survey results by CMA presented in literature review (CMA, 2013); however, it is also important to note that site visitors’ percentage of generating sales have declined. Furthermore, in the similar survey it is also reported that the year 2013 reported improvement in LinkedIn that is not used to translate the viewer customers and social media sites that can ignite the sales have flown the last levels of performance improvement. Hence, this highlights the critical need for the business to identify aspect that can result in changing the mind of customer from awareness builder to buyer (Savitz, 2012). QUESTION # 4: To this point question were aimed to develop the review of participants about the level and type of activity at social media site. From now onwards, the questions collected information about the brand in question and its social site performance. The question above requested the customers to rate the most visited site and were allowed to select more than one fashion brands. The results show that participants’ visit is highest to the ZARA’s social sites. This corresponds to different surveys where visitors to ZARA’s sites have been enthusiastic (Bulman, 2010) and also to the fact that age group of ZARA are highly social media savvy and want to know new fast fashion at ZARA (Sardar, 2013). QUESTION # 5 As surveys reported in the literature review stated that social sites are generating traffic for providing the awareness (CMA, 2013). The survey of this study dig down further information about the kind of awareness customers look for at the site of the brands. The question allows multiple choices and three aspects including awareness about the latest fashion trends, customers’ reviews and fashion tips dominated the participants’ selection. This asserts the customer can be positively as well as negatively induced by the social media sites (Merrill et al., 2011; Mercer, 2013). QUESTION # 6 The results from the study show that good number of participants visit ZARA People site. Visit of social media user to the site of ZARA people can be attributed to two reasons; first, people are interested in sharing their fashion idea for future as they know the brand incorporates the liked trend and idea by its customers and the second reason is to built awareness about the possible future product idea that will be at the shelves at ZARA stores (Akahoshi, 2012). QUESTION # 7 These results of this question under analysis also provide the rationale to the statistics presented in the review of Bulman (2010). The rationale is based on the fact that customers visit ZARA social media and other related sites for the brand love which originates when visitors of ZARA’s platform find reflection of their idea in the product of ZARA (Sardar, 2013). However, it is also important to notice that still more than a quarter participants hold contrary view. This open dual dimension avenue for research; first, exploring the reason for why people does not consider the customer posted ideas important. The second is more important as it pertaining to enquiring about the reason behind the customers’ visit to ZARA people other than above stated one. It will provide customers an important dimension to attract customers.QUESTION # 8 ZARA has been known for its differentiated strategy of spending very little on the marketing and advertisement as compared to competitors. Similarly it has incorporated social media to facilitate its strategy where it is generating ideas from customers. It is unlike competitors where these sites are aimed at significantly marketing the developed products where ZARA engage customers at social media to develop idea about the future trends from customers; all this results in the limited engagement of ZARA at social sites, which is also confirmed from the participants view.QUESTION # 9 As noted in the introduction section that age demographics of ZARA form those who are highly tech-savvy and fashion conscious; therefore, it provides significant opportunity to ZARA to translate the visitors into buyers (Sardar, 2013). This idea has been asserted in the responses to this question as well. It is also in alignment to the review of Bulman (2010) that social website of ZARA has been successful in developing brands love; however, there is less transformation of these visitors into buyers. Hence, in the view of participants of the study ZARA can exploit the increase in sales potential from these sites. 5. CONCLUSION Social media has taken driving seat in the contemporary world for businesses as well as for the individuals. Social media serves as a connecting platform overcoming the barrier of distance for individuals and businesses. As a matter fact the impact of this domain of connectivity is significant on almost all industries. However, the fashion industry has received an inched up impact from the growth of this dimension of marketing. The accelerated growth of social media has though benefitted businesses significantly; however, it has now become a challenge for the businesses to generate the quantitative results from social media investments that are steeply rising. On similar grounds, the underlying study assessed the role of social media and its impact on the market of fast fashion retailer ZARA. The distinctive business model of ZARA has always given total attention to the customers’ view of fashion and trends. ZARA, contrary to the competitors in its industry, have attracted customers to its stores based on the word of mouth, constant product update and reasonable prices. All these resulted in sky rocketed success of ZARA. The social media strategy of ZARA also seems to have incorporated the measure mix for the success recipe. It used social media for driving further customers review and ideas. It is again in contrast for the excessive investment by competitors in generating quantity traffic. ZARA herein also insisted on the quality. The results from the survey of customers of ZARA have reported these dimensions of ZARA generating brand love for ZARA in alignment to the literature review. As a matter of fact ZARA used social media for the generating customers’ idea of future fashion trends; it seems to have significantly ignored the complimentary potential of generating additional sales. The participants of the study insisted that ZARA can go an extra mile within its distinctive business and marketing strategy for generating additional unit of sales from its social sites. Hence, it is important recommendation for ZARA to understand this potential. It is also important to understand for the fact as it is translating into the challenge for the business to determine the financial contribution of social media investment. Hence, the sites of ZARA need to incorporate the measures that ignite the brand love to materialize into sales. Currently it is not an extensively challenging imperative for ZARA as social site visitors of ZARA have minimal negative responses (Bulman, 2010). The study has certain limitations also. First, it accounted perspective of limited number of participants in comparison to the millions of social sites visitors. This affects the practicality of the recommendations. Second, the success of ZARA lies in its distinctive business strategy that requires less investment in marketing while the recommendations requires following the strategies of competitors. Hence, it will be challenging for ZARA to generate success while balancing between its own business style and idea suggested for generating typical benefit from social media usage. Furthermore, it is also important to dig down the trends and insights from the customers visiting ZARA in defining future social media strategy. 6. LIST OF REFERENCES Akahoshi, T. (2012). Transparency in fashion industry: social media use in public relations strategies. Available from http://digitalcommons.calpoly.edu/cgi/viewcontent.cgi?article=1040&context=joursp [Accessed 20 December 2013] Anselmo, K. (2013). Survey: Chief Marketing Officers find it difficult to prove impact of social media investments. Available from https://www.fuqua.duke.edu/news_events/news-releases/chief-marketing-officers-survey-august-2013/#.UrUpiNJfuzw [Accessed 20 December 2013] Bhagwat, S. (2011). Zara: IT for fast fashion case analysis. Available from http://www2.uhv.edu/luj/MGT6352/Samples/Student%20Sample%201.pdf [Accessed 20 December 2013] Bulman, L. (2010). Zara’s light social media strategy encouraging brand love, but not purchase consideration. Available from http://wave.wavemetrix.com/content/zara-s-light-social-media-strategy-encouraging-brand-love-not-purchase-considera-00669 [Accessed 20 December 2013] CMA. (2013). Social media in construction 2013. Available from http://visual.ly/social-media-construction-2013 [Accessed 20 December 2013] DiMauro, V. (2011). Fashion and social media: power to the people or the publisher? Available from http://socialmediatoday.com/vanessa-dimauro/372255/fashion-social-media-power-people-or-publisher [Accessed 20 December 2013] Ferdows, K., Lewis, M., & Machuca, J. A.D., (2003). Zara. Supply Chain Forum: International Journal, vol. 4, no. 2, pp. 62-66 HBR. (2010). The new conversation: taking social media from talk to action. Available from http://hbr.org/product/the-new-conversation-taking-social-media-from-talk/an/10815-PDF-ENG [Accessed 20 December 2013] Inditex. (2012). Annual report 2012. Available from http://www.inditex.com/en/downloads/annual_report_2012.pdf [Accessed 20 December 2013] Jankowicz, A. (2005), Business Research Projects, London: Thomson Learning. Malukas, M. (2013). Social media facts 2013. Available from http://visual.ly/social-media-facts-2013 [Accessed 20 December 2013] McCrea, L. (2013). Successful social media examples by fashion brands: apply their success to your business. Available from http://www.ignitesocialmedia.com/social-media-strategy/successful-social-media-examples-by-fashion-brands-apply-their-success-to-your-business/ [Accessed 20 December 2013] Mercer, C. (2013). Negative effects of social media on business. Available from http://yourbusiness.azcentral.com/negative-effects-social-media-business-12640.html [Accessed 20 December 2013] Merrill, T., Latham, K., Santalesa, R., and Navetta, D. (2011). Social media: the business benefits may be enormous, but can the risks – reputational, legal, operational – be mitigated? Available from http://www.acegroup.com/us-en/assets/ace-progress-report-social-media.pdf [Accessed 20 December 2013] Mullaney, T. (2012). Social media is reinventing how business is done. Available from http://usatoday30.usatoday.com/money/economy/story/2012-05-14/social-media-economy-companies/55029088/1 [Accessed 20 December 2013] Parekh, R. (2013). How Zara ballooned into a multi-billion dollar brand without advertising. Available from http://adage.com/article/cmo-strategy/zara-grew-a-multi-billion-dollar-brand-sans-ads/243730/ [Accessed 20 December 2013] Perdue, P. (2011). Social media strategies of H&M, Zara, and Esprit – analysis. Available from http://www.customerthink.com/blog/social_media_strategies_of_h_m_zara_and_esprit_analysis [Accessed 20 December 2013] Sardar, S. (2013). Zara: the largest Spanish clothing company owned by Inditex. Available from http://www.slideshare.net/shaheen1934/zara-the-inditex-group [Accessed 20 December 2013] Savitz, E. (2012). 5 ways social media will change the way you work in 2013. Available from http://www.forbes.com/sites/ciocentral/2012/12/11/5-ways-social-media-will-change-the-way-you-work-in-2013/ [Accessed 20 December 2013] Schiff, J. (2013). 15 big social media mistakes companies make and how to avoid them. Available from http://www.cio.com/article/741875/15_Big_Social_Media_Mistakes_Companies_Make_and_How_to_Avoid_Them [Accessed 20 December 2013] Social Bakers. (2013a). Zara facebook page statistics. Available from http://www.socialbakers.com/facebook-pages/33331950906-zara [Accessed 21 December 2013] Social Bakers. (2013b). Zara twitter statistics. Available from http://www.socialbakers.com/twitter/zara [Accessed 21 December 2013] 7. APPENDIX QUESTIONNAIRE QUESTION #1: What is the role of social media in fashion industry? Very important Important Somewhat important Not so much important Least important QUESTION #2: How frequent do you follow fashion brands' social sites? Always Frequently Often Rarely Never QUESTION #3: What is role of social sites in changing your mind about fashion brand? Very important Important Somewhat important Not so much important Least important QUESTION #4: Which fashion brand's social site do you follow most frequently? H&M ZARA Mango GAP QUESTION #5: For what purpose do you visit sites of fashion retailers? Brand Awareness Latest Fashion Trends Awareness Price Information Fashion Tips Product Feedback Customer Reviews QUESTION #6: Have you ever visited "ZARA PEOPLE" social site? Yes No Don’t Remember Question #7: Customer posted fashion ideas are the most important features of Zara people. Do you agree? Yes No Don’t Know QUESTION #8: Do you think Zara has limited engagement of customers as compared to competitors? Yes No Don’t Know QUESTION #9: Do you think that Zara can expand its sales base with active strategy on social sites? Yes No Don’t Know Read More
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UK in this case, has a strong GDP and that is why all the companies are concentrating on entering the UK market.... However, there are different market where many people also prefer to buy cheap apparels.... The economy of Europe is rising gradually and that is why the future is bright for the fashion and retail industry especially because the rise in the disposable income in the general public, gives them the opportunity to buy the fashionable clothes to stay with the current trend of the market....
10 Pages (2500 words) Coursework

Financial Highlights of H&M and Zara

In the following report, such analysis will be imposed to the well-known brands, companies with the world name, a Swedish multinational retail-clothing company H&M (Hennes & Mauritz) and Spanish clothing and accessories retailer zara.... They employ strategies that differ from each other and at the same time these companies benefit from having strong rivals, aggressive....
10 Pages (2500 words) Assignment
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