MC6096 - International Fashion Strategy (2022/23)
|Module specification||Module approved to run in 2022/23|
|Module title||International Fashion Strategy|
|Module level||Honours (06)|
|Credit rating for module||15|
|School||Guildhall School of Business and Law|
|Total study hours||150|
|Running in 2022/23(Please note that module timeslots are subject to change)||
International Fashion Strategy, Retail Motives, Theoretical Models, Entry Modes, International Management, International implications, Cultural Differences.
The module covers the most recent developments in international fashion management, such as international management of resources, International procurement and sourcing, strategic marketing planning and international strategy. International Fashion Strategy differentiates itself from other level 6 planning and strategy modules in that it brings together knowledge from the fields of corporate strategy as well as international business; furthermore, it applies this combined knowledge to real-time fashion businesses.
This module focuses on the reasons for fashion businesses strategic analysis and the implications for internationalisation. Therefore, strategic corporate issues such as current retail climate, competitive, comparative and cooperative advantages, critical success factors, market position will be investigated as they will be essential to plan for methods of international strategic development, methods of entry, market appraisal and strategic and tactical choices such as organic vs inorganic expansions.
Academic models associated with internationalisation and its varied process will be analysed and discussed in the context of fashion.
The main aims of the module are to:
- develop students' understanding and knowledge of the main theories, models and concepts of international strategy with direct application to the fashion business environment
- develop students’ understanding and knowledge of the internationalisation process
and the various options available for international expansion
- develop an understanding of the scope of marketing analytics in designing and implementing successful international marketing strategies
- enables students to critically evaluate strategic options undertaken by fashion businesses and identify competitive advantage both domestically and internationally.
- enable students to enhance their critical thinking abilities and their capabilities to develop strategic solutions to businesses in a variety of retail contexts and situations
Skills development includes: problem-solving, academic reading, researching, critical thinking, and academic writing, digital literacy and IT skills, time management, team skills, independent working, referencing skills, intellectual discussion and awareness of contemporary debates in the business management related disciplines. Assessment components provide the vehicle for skills development.
Corporate Strategy and the internationalisation process, International Fashion Strategies including off-shoring, in-shoring, global conglomeration, cultural studies, power of clusters
- Definition, scope and challenges of international business expansion with application to fashion retailers, complications of going abroad such as labour wages, regional and national policies
Marketing Analytics, sources of information in market evaluation, opportunity assessment and segmentation (including cluster analysis)
Macro and micro environments of international business and the impact of these and other factors on fashion retail activities; key factors to success, emphasis on competitive benchmarking in fashion retail
International business plan implementation, fashion retail mix decisions; branding strategies, price setting; distribution strategy, e- the retail environment, layout, atmospherics; E-tailing and m-tailing strategies
Balance of independent study and scheduled teaching activity
The module will be delivered over a 12 week period and consists of 1 hour lecture and 2 hours seminars each week. Supporting material is made available via Weblearn, which facilitates a blended learning approach to include wider reading and other materials to support the syllabus. The applicative part of the workshops serves to anchor knowledge imparted in the theoretical part of the workshop and provides a forum for:
- A better understanding of lectures through small group discussions, case study/ journal article/problem solving analysis and interchange of questions and answers.
- Assist students in relating their knowledge to the fashion retailing discipline and profession
- Applied understanding of technical skills required for carrying out research to assist in employability skills for future careers in fashion retailing. Students will need to consider this aspect of the module as part of their personal development and be able to produce examples in a portfolio of the research skills for a future employer. In addition, the seminars incorporate summative and formative feedback for students to have an opportunity to reflect upon and evaluate their performance.
There will be activities run by Careers and the Work placement Office with the aim of enhancing work skills, which will complement the subject specific knowledge gained during our workshops.
On completing the module students will be able to:
1. Exhibit critical understanding of the main theories of international strategy with direct application to the fashion retail environment
2. Demonstrate understanding of how fashion retailers develop their strategies within domestic, international, multinational, multi-domestic and global contexts
3. Evaluate international business strategies
The assessment strategy consists of one component, which aims to assess the module’s learning outcomes. This assessment requires students to problem solve and apply the knowledge gained during the module.
Students will be required to produce an individual Research based international fashion industry portfolio / report (100%)
The repot will be underpinned by consumer theory and students will develop and conduct and execute a research based insight in the fashion industry 2,000 words.
Core Text book
· Herrero, M., (2017) The Fashion Strategy: Key techniques that deliver results, CreateSpace Independent Publishing
· Hollensen, S. (2020), Global Marketing, 8th edition, Pearson Education
· Whittington, R., Angwin, D., Regner, P. Johnson, G., & Scholes, K. (2019), Exploring Strategy (Text and Cases), 12th edition, Pearson Education
Additional Supporting helpful reading
· Alexander N. & Docherty A. (2009), International Retailing, Oxford University Press
· Berman, B.R. & Evans, J.R. (2017), Retail Management, International Edition, 13th edition, Pearson Education Ltd
· Caro, F. & Martínez de Albéniz Margalef, V. (2009), Fast Fashion Retail Strategy Flying Off the Racks, Springer
· Ciravegna, L., Fitzgerald, R. & Kundu, S. (2014), Operating in Emerging Markets: A Guide to Management and Strategy in the New International Economy, Financial Times Press
· Dawson, J., 2006. Strategic issues in international retailing. London: Routledge. ebook
Management: 15th edition, Pearson Education Ltd
· Doyle, P. & Stern, P. (2006), Marketing Management and Strategy 4th edition, Financial Times Press
· Evans, V. (2013), Key Strategy Tools: The 80+ Tools for Every Manager To Build a Winning Strategy, Financial Times Press
· Hollensen, S. (2019), Marketing Management: A Relationship Approach, 3rd edition, Financial Times Press
· Kotler, P., Keller, K.L., Ang, S.H, Leong, S.M. & Tan, C.T. (2015), Marketing
· Mintzberg, Lampel, Quinn & Ghoshal (2014), The Strategy Process: Concepts, Contexts, Cases, 5th edition, Pearson Education Ltd
· Sethna Z Blyth J. (2019) Consumer Behaviour Sage Publications
· Sternquist, B., 2018. International retailing. 3rd ed. New York: Fairchild Publications.
Strategic Management Journal
Long Range Planning
International Journal of Strategic Management
International Review of Retail Distribution and Consumer Research
Journal of Marketing Management
International Journal of Sales, Retailing and Marketing International Journal of Electronic Marketing and Retailing Luxury
Business of Fashion Magazine
Drapers Fashion Magazine
Fashion Gone Rogue Fashion Mag
Mintel Keynote Reports
The Wall Street Journal
Daily Fashions Collective
Leading portals covering marketing research developments
The Market Research Society http://www.mrs.org.uk/
European Society for opinion and Market Research ESOMAR - http://www.esomar.org/
British Market Research Association http://www.bmra.org.uk
The Association for Qualitative Research http://www.aqr.org.uk/
Market Research World http://www.marketresearchworld.net/
emarketer - http://www.emarketer.com/
Smartinsights - http://www.smartinsights.com/
imediaconnection - http://www.imediaconnection.com/
Interactive Advertising Bureau -http://www.iab.net/
Direct Marketing Association http://www.dma.org.uk/