The client i have discussed throughout my last 3 papers was the fashion company Salvatore Ferragamo. I focused on social media in my papers, in my first paper i talked about how these sites could help them reach a younger target market because the CEO wanted to perceive a “younger image” and then in my second paper i discussed these sites and how they will positively impact the company. In my final paper I will try to connect these valid points to the company Ferragamo and i will validate each of the platforms that i discussed in my previous papers. The swot analysis that we have been discussing in class will help me break down what i will be discussing in the paper in the way that it will outline what i need to address such as key points or what the company needs to know or be aware of.
Strengths- Brand awareness, high quality products, locations, multiple categories (RTW, shoes, handbags, etc), domestic market, skilled workforce
Weaknesses- Competitive market, small business units, exclusivity, high prices
Opportunities- developing new products and services, growing demand and economy, the use of social media, the chance to target a younger segment, new advertising strategies, opening more stores internationally, expanding their stores like making them available in outlets
Threats- Growing competition and lower profitability, rising cost of raw materials, imitation & fake products always being made, competition brands having cheaper products, they are perceived as having an “old” image which steers the younger generation away