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Business of Fashion

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Business of Fashion The fashion industry has been doing booming business in the past few years. This has been occasioned by increased buying power in the society. While some fashion houses have been making good returns from the industry, there are others in the same business that have had to go out of business within the same period. The difference between fashion houses that make good returns and those that fail lies entirely in being able to identify their target market and in knowing the tastes of that particular group. One fashion house that has been succeeding in this industry if H&M and I took time to study what makes it successful while other businesses within the industry fail. As I took time to study this great organization, one thing that came out as contributing to its success is its product strategy. One unique thing about H&M products is that they are cheap and their quality is high compared to that of their competitors. In addition to this, the inspiration behind their products is the current catwalk trends thus giving their products a touch of modernity. Actually, from talking to the staff at H&M I realized that they introduce new products into the market almost on a daily basis and this makes every other fashion organization its competitor. In addition to this, instead of just focusing on a certain group, the company has products for a wide range of people and this has contributed significantly to its success (McKinley). Ideally, the target market for H&M is a section of fashionable and trendy clients who visualize shopping as a social movement that is meant to provide enjoyment in their daily life. These customers that we are talking about here belong to a class that wants to acquire trendy clothes each new season and they want to achieve this objective…...

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