Saturday, October 5, 2019

IM , Prada Essay Example | Topics and Well Written Essays - 1250 words

IM , Prada - Essay Example According to the reports presented in 2012, the group functions in 70 countries with 388 operating stores and 30 franchise stores along with a wide network of selected department and multi branded stores (Prada, 2013). It is in this context that Prada focuses on using the concepts of Integrated Marketing Communication (IMC) and Integrated Marketing (IM) in its highly diversified and broadly assorted business operations. Theoretically addressing these two managerial concepts, critics have often argued that these concepts differ significantly in terms of their behavioral characteristics and concerns although, in often instances, these concepts have been observed to be used interchangeably. Introduction Prada operates as a renowned Italian fashion label company which specializes in offering luxurious products and fashion accessories to both the customer groups of women and men. It was founded in 1913 by Mario Prada. Eventually, Prada became an ultimate point of reference for modern tren ds in Europe and across the world. In its initial years of establishment, Prada was the official supplier in the Italian Royal Family, which rewarded it with immense prestige and a recognised brand status in the luxury fashion market (Prada, 2013a). This paper dwells on the following issues: culture, philosophy, structure, marketing practices and awards gained by Prada owing to its effective business operations. The focus of the paper will be given to charity as well, along with sponsorship, educational foundation and other integrated actions related to marketing of Prada. Culture In its current operations, Prada represents the finest culture possessing classy style and uncompromising quality aspects in the organizational context. Relating to the aspect of culture, Prada is considered to be one of the fashion brands that tend to render significant consideration towards innovative branding strategies which in turn have contributed to its capability of setting fresh trends in the glob al market context. The organizational culture of Prada usually depends upon the values that are guided by the decisions taken with due significance to its interests of its stakeholders for maintaining consistency in performing business activities establishing effective communication as well as maintaining productivity throughout the organizational context. Correspondingly, with greater transparency in organizational context, Prada has been able to efficiently maintain a superior responsiveness with the changing tastes and preferences of the customers and thus sustain in this competitive landscape. Prada’s modernity and creativity aspects ultimately supports to form as well as to develop a unique culture enabling it to compete with major rivalries and thereby, attaining superior competitive position (Cpp Luxury, 2009). Philosophy In its philosophical concern, Prada focuses on designing the products, which are manufactured and sold particularly to the female section of the soci ety of the United States, in such a way that should be expressive and apparently reward a feeling of durable quality along with maintenance of craftsmanship. Thus, on the basis of this assumption, the philosophy of

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