Services Marketing. Case of "Paul Smith" Table of Contents Introduction 3 Fashion Retail Sector of the United Kingdom 4 The Size and Competitive Structure of Fashion Retail Sector 5 Opportunities and Threats Prevailing for Paul Smith in the UK Fashion Retail Sector 7 Opportunities 8 Major Threats 9 Commonalities and Differences between the Current Service Marketing Strategies of the Major Players in the Fashion Retail Sector 10 Identification of the Organisation’s Key Strategic Service Marketing Issues for the Next 5 Years 12 The Relationship between Customer Relationship with Relevant Service Marketing Theory 14 Conclusion 15 References 16 Introduction In keeping with the rapid growth of m…
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Services as the core products represent a wide series of intangible elements for which the consumers render considerable value within the marketplace (Fashion United Group, 2009). From this perspective, the paper intends to relate the concept of services marketing with Paul Smith, one of the leading fashion retails based in the United Kingdom. The fashion retail unit was started by Paul Smith, a UK based fashion designer. In the year 1970, in Nottingham, Paul Smith started a boutique with small portion of his savings. By the year 1976, in Paris, Paul Smith brought in his inaugural menswear collection, which was rendered within the label of Paul Smith. Since then, in a long-standing successful tradition the company along with Paul Smith have placed themselves as among the eminent British retailers and fashion designers. Global collection of the company is presently wholesaled to around 66 nations. In the UK, there are 17 shops rendering Paul Smith collection (Paul Smith, 2012). In relation to Paul Smith, the identified strategic service marketing issues comprise ensuring effective customer relationship and loyalty, insecurity of the potential customers and uncertainties emerging due to the trend of fast fashion among others. The discussion will encompass an assessment of the fashion retail sector in terms of its size and competitive structure. The assessment will also encompass the opportunities and threats which can severely impact on the activities of Paul Smith. Moreover, the discussion will further involve summarising the commonalities and differences between the present services marketing strategies of the major players in the fashion retail sector. Identification of the organisation’s key strategic services marketing issues for the next five years will be portrayed within the analysis of the paper. In addition, the paper will also demonstrate the relationship among the issues affecting services marketing strategies. Fashion Retail Sector of the United Kingdom The fashion retail sector in the UK can be regarded as one of the major industrial sectors, which has encompassed rapid and continuous growth by a considerable extent. It can be observed from the assessment of past few years that the global retail sector is considerably shaping an independent and successful position through well build business strategies including sales and marketing, innovation and effective business policies. According to the present performance of the fashion retail sector in the UK market, it can be observed to have acquired a large amount of consumer preferences and expenditures through delivering exceptionally manufactured of textiles, clothing along with footwear and leather items. The steady growth in the fashion retail sector can be identified to have taken place due to cutting-edge innovation of products along with effective and convenient supply chain management of the service rendering companies which considerable play major roles within the industry. Moreover, the fashion retai
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