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Electronic Business and E- Marketing : Cond Nast to launch London fashion school - Essay Example

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Conde Nast plans to enter the field of education by offering courses on fashion designing. Initially they plan to start short courses and master course for graduates. The internal audit reveals that the group is strongly placed in the industry but competitive rivalry is high…
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Electronic Business and E- Marketing : Cond Nast to launch London fashion school
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Electronic Business and E- Marketing : Cond Nast to launch London fashion school

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It now plans to enter the education industry as it has planned to open a college of fashion and design in London. It has decided to offer a year-long Vogue fashion foundation course, as well as short courses. The planned venture does not have undergraduate degree courses in mind as yet but does plan to offer Masters Course on fashion. An internal audit and competitor analysis would help evaluate the stand that Conde Nast has taken. This can be through SWOT analysis and Porter’s Five Forces Analysis. 1.1 SWOT: SWOT analysis reveals the internal strengths and weakness which helps the organization evaluate the opportunities that the market presents. It also makes the organization cognizant of its weaknesses which can help it revise its strategy. Strengths Enjoys excellent reputation and authority of the brand which puts them in a strong position to teach and inspire the fashion and decorating talent of the future. The college principal designate is the editor of Easy Living and has been the deputy editor of Vogue for five years. The editor-turned teacher would be valuable connection for the students as they would receive practical knowledge of the industry (The High Low, 2011). Because of their links with the fashion world, they would be able to offer unique insights into the industry. The group creates and develops lifestyle and business brands online. They have a stronghold in the fashion industry. They also have online and e-commerce experience because of their base unit – publishing. Weakness Conde Nast has no prior experience in the field of education. A major lifestyle and publishing house getting into education is something that may not be very attractive to the prospective students/fashion designers. The editor, named as the Principal, has no teaching experience. They may have problems securing internships for their students because of lack of educational background and especially in the field of fashion (Lo, Sept 14, 2011). They have yet to find a director with experience in the field to run the school. They have been losing revenue in their publishing as there has been a shift from traditional advertising to digital advertising (Kaplan, 2011). They need to have collaboration with a University of repute to be able to award degrees. Opportunity They intend to offer a ten-week intensive course as well as a one-year fashion foundation course. By using the editors as teachers the Group also ensures they get the designs they want to feature in their magazine (The High Low, 2011). The fashion industry in the UK contributes towards employment and the sector has created 3700 jobs because of fashion education and fashion journalism (Griffith, 2011). It is one of the most vibrant sectors in the UK having universal appeal. London has been steering the country towards fashion since the beginning. There exists business skills gap in the industry and Conde Nast could offer a diverse range of career opportunities. At least 9,275 students have undertaken fashion courses in 2008/09 and this means the sector attracts a proportionate number of teachers in the field as well (British Fashion Council, 2011). Threats They may be unable to get the right teachers because banking on the editor alone may not suffice. Competition being high in the industry, they may not be able to get the minimum number of students necessary to get started. Conde Nast has access to some of the sharpest and most creative minds shaping the fashion, design and interiors industries today but they may not necessarily ...Download file to see next pagesRead More
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