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12th meeting

12th meeting. THE SUCCESS STORIES.

erin-parsons
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12th meeting

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  1. 12th meeting THE SUCCESS STORIES

  2. One of the most successful fashion companies in the world is Benetton. The Benetton family opened their first shop in Italy in 1968. Today, there are Benetton shops in the major cities all over the world. Benetton followed four marketing order in achieve their success. The first principle is consumer concept. To build a successful business, you have to develop products around things people value, especially quality. The founder of Benetton began by asking people what they wanted. He created clothes to match people’s want: the style is casual; the colors and the patterns are bold; and the quality is excellent.

  3. The system link is another feature of good marketing. For Benetton, this means waiting to get information about what customers like and what they dislike before making the clothes. In other words, Benetton’s clothes are made to order. The information link means making sure the company respond quickly to people’s demands. When something is sold at a Benetton store, the store records information about the type, size, and the color of the item. This information is then sent to the main office in Italy. Benetton can use this information to identity popular products and to continue making them, it can also identify less popular products and stop making them.

  4. A final important marketing principle is the retail link. There are Benetton stores in countries around the world. All the stores have the same clothing, the same window displays, and the same approach to sales. This means that customers can go into any Benetton store in the world and be sure of what they are buying. The things people like about Benetton stores are that the quality is always high and the prices are generally low. And that spells success.

  5. Talk about these questions! • Can you think of three companies which exist in your company? • Are they very successful? • Underline four reasons why Benetton is so successful? • Can you think of two other stores that are run in a similar way to Benetton?

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