Sample Essay – Portfolio Adaptation
A customized portfolio will be distinct from those employed at retail outlets in other parts of the world. Regional managers play a more crucial role while incorporating this kind of strategy. It is important that the regional managers are able to see and adopt merchandising strategy that differs from that of the global head office’s international vision. It is likely that a hot item that the global marketing team seeks to implement and target across the globe may not deem fit for the GCC countries. (Chris Milner 2002)
Thus, in such cases the General Manager comes into picture. He has to ensure that the strategy which is the most effective is pursued in that region. One genre’ in which portfolio customization has been cited is in the apparel industry. Especially in feminine wear, international retailers are researching and exploring more into the local market than anything else.
After doing their research, they highlight the products and services from the firm’s global portfolio that best suits them. As for the specific needs of GCC markets, an expert analyst points out “ a steady flow of new products, which are well designed, use lightweight fabrics all year round and offer long sleeve and skirt options for those wishing to cover up.”
At the center of the marketing strategy in this case would be a good worthwhile design, an area where a firm could offer a competitive advantage compared to others in the same market.
Similarly analysts also point out that a steady consistent supply of new, trendy products could be more effective in the GCC nation keeping in perspective the demographics of the youth present in that region. The GCC market is home to a lot of youngsters. For instance Zara specializes in latest fashion apparel. It’s core audience is the youth of that region.
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