A/ Assignment recap

●      Research and analysis of a Vietnamese fashion brand (apparel/clothing) located in Ho Chi Minh City

●      Business model, environment and operating strategies, including supply chain, customers and approach to sustainability

Suggested structure

I. Brand profile

II. Market analysis

III. Sustainability

IV. Physical store

V. Analysis (7Ps, PESTLE, TOWS)

VI. Conclusion

Note:

1.      Pick a brand which clearly shows its sustainable aspects because you have to analysize how they incorporate sustainability into the business, so avoid fast fashion brands. It is also an advantage if you can conduct an interview with a staff of the brand or the founder to gain more useful information.

2.      Be highly visual with this report to possibly reduce word count, you can use charts, tables, images to illustrate your ideas.

B/ Key term definition

Fashion value chain

●      The fashion value chain refers to the entire process of creating and delivering a fashion product from the initial design to the final consumer.

●      Involves various stages such as design, production, sourcing of materials, manufacturing, distribution, retail, and consumption.

Note: Know the difference between fashion value chain and fashion supply chain. While the fashion supply chain is more narrowly focused on the physical processes of production and distribution, the fashion value chain takes a broader perspective, considering the entire lifecycle of a fashion product and the strategic elements that add value and differentiate the product in the market.

Fashion business models

How fashion businesses operate, generate revenue, and interact with consumers and other stakeholders. Fashion business models can vary widely based on factors such as the target market, product type, distribution channels, and brand positioning.

Key market or target customer

The specific segment of the market that a business aims to reach and serve with its products or services. It involves defining the characteristics, needs, preferences, and behaviors of the ideal customers who are most likely to purchase from the business.

●      Demographics: age, gender, income, education level, occupation, marital status

●      Geographics: customers’ locations, weather in those locations, the impacts of locations and weather on purchasing habits

●      Psychographics: personal values, interests, hobbies, attitudes, and personality traits

●      Behavioral Characteristics: purchasing habits, brand loyalty, frequency of purchases, and decision-making processes

Customer profile/ persona

A detailed and semi-fictional representation of an ideal customer for a business.

Note: A persona is a detailed profile of ONE PERSON, instead of a GROUP of target customer. This profile also analyzes 4 aspects demographics, geographics, psychographics and behavioral characteristics.

Triple bottom line

A framework that promotes sustainability and responsible business practices by considering three key dimensions of performance and impact: people, planet, and profit.

●      People: This dimension focuses on the social and human aspects of sustainability. It involves considerations such as fair labor practices, employee well-being, community engagement, and social responsibility. Examples of "people" initiatives include providing fair wages, offering employee benefits, promoting diversity and inclusion, supporting local communities, and engaging in philanthropic activities.

●      Planet: The "planet" dimension pertains to environmental sustainability. It involves minimizing the negative environmental impacts of a business's operations and products while striving to contribute positively to environmental conservation and protection. This includes efforts to reduce carbon emissions, conserve natural resources, limit pollution, and promote sustainable sourcing and production.

●      Profit: The traditional "bottom line" of profitability is still a crucial element in the triple bottom line framework. However, it is balanced with the considerations of people and the planet. The profit dimension acknowledges that a business must remain financially viable and generate profits to sustain its operations, invest in sustainability initiatives, and grow over the long term.

The United Nations Sustainable Development Goals (SDGs)

17 interconnected objectives designed to address a wide range of global challenges and promote sustainable development worldwide

●      No Poverty: End poverty in all its forms everywhere.

●      Zero Hunger: End hunger, achieve food security and improved nutrition, and promote sustainable agriculture.

●      Good Health and Well-Being: Ensure healthy lives and promote well-being for all at all ages.

●      Quality Education: Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.

●      Gender Equality: Achieve gender equality and empower all women and girls.

●      Clean Water and Sanitation: Ensure availability and sustainable management of water and sanitation for all.

●      Affordable and Clean Energy: Ensure access to affordable, reliable, sustainable, and modern energy for all.

●      Decent Work and Economic Growth: Promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.

●      Industry, Innovation, and Infrastructure: Build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation.

●      Reduced Inequality: Reduce inequality within and among countries.

●      Sustainable Cities and Communities: Make cities and human settlements inclusive, safe, resilient, and sustainable.

●      Responsible Consumption and Production: Ensure sustainable consumption and production patterns.

●      Climate Action: Take urgent action to combat climate change and its impacts.

●      Life Below Water: Conserve and sustainably use the oceans, seas, and marine resources for sustainable development.

●      Life on Land: Protect, restore, and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.

●      Peace, Justice, and Strong Institutions: Promote peaceful and inclusive societies for sustainable development, provide access to justice for all, and build effective, accountable, and inclusive institutions at all levels.

●      Partnerships for the Goals: Strengthen the means of implementation and revitalize the global partnership for sustainable development.

7P’s of marketing

The 7Ps in marketing is a framework that expands upon the traditional 4Ps of marketing (Product, Price, Place, Promotion) to provide a more comprehensive understanding of the elements that make up a marketing mix.

●      Product: This represents the core offering that a business provides to its customers. It encompasses not only the physical product itself but also its features, quality, design, branding, and any associated services or warranties.

●      Price: Price refers to the cost customers pay for the product or service. Pricing strategies involve decisions on setting the right price point, considering factors like cost, competitor pricing, perceived value, and pricing models (e.g., discounts, bundles).

●      Place: Place, also known as "Distribution," pertains to the channels and methods used to make the product or service available to customers. This includes decisions on distribution channels, locations, logistics, and inventory management.

●      Promotion: Promotion involves all the marketing and communication efforts aimed at creating awareness and interest in the product or service. This includes advertising, public relations, sales promotions, content marketing, social media, and other promotional tactics.

●      People: In service-based industries, people play a critical role as they directly interact with customers. This includes employees, customer service representatives, sales teams, and any personnel who influence the customer experience. It's essential that these individuals are well-trained and aligned with the brand's values.

●      Process: Process refers to the procedures, systems, and workflows that govern how a product or service is delivered and how customer interactions are managed. Efficient and customer-friendly processes are crucial for a positive customer experience.

●      Physical Evidence: Physical evidence encompasses the tangible elements that customers encounter when interacting with a service. This can include physical facilities, equipment, signage, packaging, and any other physical cues that reinforce the brand's image and credibility.

TOWS analysis

A strategic planning tool that builds upon the SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to develop specific strategies for an organization.

●      SO Strategies (Strengths-Opportunities): These strategies leverage the organization's strengths to capitalize on external opportunities. For example, using a strong brand reputation to enter a new market.

●      WO Strategies (Weaknesses-Opportunities): These strategies involve addressing internal weaknesses to exploit external opportunities. For instance, improving workforce skills to take advantage of emerging technologies.

●      ST Strategies (Strengths-Threats): These strategies aim to use internal strengths to mitigate external threats. This might include using strong financial resources to weather economic downturns.

●      WT Strategies (Weaknesses-Threats): These strategies focus on minimizing both internal weaknesses and external threats. For example, cost-cutting measures during a period of economic recession.

C/ Detailed guideline

I. Brand profile

1. Brief Introduction (100 words)

●      Brand name, the founders, brand logo

●      When was it founded?

●      Its products and aesthetics (give some images)

●      What makes the brand different from others in the market, or any special achievements?

Example: Xeo Xo has become a well-known brand in their Ao Dai collection thanks to its differentiation strategies Emphasis on high-quality products & Recreating traditional values into the product

●      Main selling channels (give visuals of the physical store and online channels including website and social media)