Wednesday, October 9, 2019

Hanes Brand Case Analysis Study Example | Topics and Well Written Essays - 1250 words

Hanes Brand Analysis - Case Study Example This text shall examine Hanes brand and strategies to make it effective and completive it is in its market. Several instruments and brand analysis such as the SWOT analysis (Fine, 2009) and the Porters five forces analysis shall be used to give guidelines and possible suggestions on possible strategies to be employed a. Description of industry and market segment The clothes and apparel industry in which the company deals with has good growth prospects both in the United States and in international markets (Textile international outlook). It is critical to examine the greater industry trends in general and then narrow down to the market segment of the company’s focus. The company is in the clothing and fashion industry which is a very sensitive industry and fast changing. Branding is also a key critical success factor for any company or individual in that particular industry. The company’s focus is in a small fraction of the fashion industry dealing mainly with innerwear and a bit of outerwear. The innerwear and hosiery markets have grown substantially with increase in brand names from the traditional big names. There has also been an increase in designs and innovations in this industry. The leading trends are the use of new and innovative fabrics and designs with major firms investing heavily in developing new materials and designs. The markets are dominated by large wholesale producers and distributors and very few small scale industry players. There has been growth in this market by middleclass and upper-class individuals who have more spending power with the relative stabilization of the global economic outlook. Globally the underwear markets for the year 2010 grew by 11% in the US according to the global underwear report of 2010 (Global Underwear Market Report 2010, 2010) b. Market Dynamics Important elements of this market that need to be noted that it has been established by the global underwear market report that the market in the United Ki ngdom was worth a massive 2.57 billion British pound. The apparel market segment like the larger fashion industry is very volatile and changes very rapidly. However it could be noted that there is a predominant brand loyalty by many of the customers of this markets. Since this is an industry in which large volumes have to be distributed it require proper distribution channels and companies such as Hanes brands need to seek more local marketing strategies to achieve substantial sales increase. The apparel industry is quite easy to start and thus provide quite a challenge of completion and is a real threat. For Hanes brands competitors comes mainly from other established brands. Completion may also arise from mergers of several competitors to create larger firms that can extent more massive branding campaigns. The future of the industry seems bright according to surveys due to the increase in economic stability as predicted in world economic outlook by the IMF (international monetary fund) and this in turn increases the spending power of individual and hence more demand for luxury items such as branded apparels and underwear. The increase in brand awareness and development of more designs in the industry has greatly increased the prospects for the industry. Many areas and opportunities have been developed in the recent past in terms of specialization. However with globalization and entry of the

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