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Essay / Research Paper Abstract
Harrods aspire to be the premier retail outlet in London. The competitive advantages include its' exclusive image and the level of service it offers. This 6 page paper considers the way in which Harrods will be able to maintain its' position. The paper focuses on the menswear department within the store. The bibliography cites 10 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEharrods.rtf
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Unformatted sample text from the term paper:
a range of customers which include royalty and celebrities. The differentiation has been gained and then maintained over many years, which reflects the goods that the firm sells,
with many high class and exclusive producers of quality goods and fashion labels accompanied by every high level of service which include personal shoppers and doormen, the entire image is
that of quality and exclusivity. However, there are many examples of brands or companies that have had an exclusive image and have failed, ether due to over positioning, as seen
with Mont Blanc pens and loosing potential business (Kotler, 2003). Where differentiation, which is a source of competitive advantage, is based on an image of exclusivity in quality it is
important as any strategies is a company adopts in terms of marketing and promotion as well as distribution will support that reputation, rather than undermining it could also undermine its
position (Hooley et al., 2003). In order to understand the way that the exclusive image may be maintained with the associated aspiration to be Londons premier retail outlets, the current
position needs to be understood and the potential issues it faces Harrods need to consider the way in which the company can grow
and balanced the need for growth with the ability to retain its exclusivity. This is a difficult balancing act, as there is a potential to lose the competitive advantage, or
to over position and lose revenues. This is especially important when considered within the current competitive environment. The department such as menswear, there is an increasing level of competition. The
industry itself is changed over the last few years, with the reduction of trade barriers for countries such as China the general price of clothing has fallen in real terms,
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