Business Strategy Analysis
One characteristic attribute of the fashion industry is its predisposition to change; therefore, an innovative product may become irrelevant and lose market share within a short period. Consequently, this element necessitates for continuous product development coupled with market research to maintain a competitive advantage. In some industries, having a R&D department is a competitive edge, but in the fashion sector, it is a survival tool. These rapid changes in the industry are not limited to products only, as marketing tactics and other business strategies need to be constantly reviewed. The emphasis on customer engagement is increasing in this sector ...