Description
1. Reading and Understanding Data
In this module, you are researching the country where your brand is based (not necessarily the US!!!) and your brand’s industry using a variety of resources.
Share one example of the quantitative data and one example of the qualitative data you found during your research about the market condition (PESTEL), industry growth and trends, or consumer data, and explain to your peers what this data means for the company.
Post your comments in one or two paragraphs to this discussion topic.
2. Assignments] Research the Market
Instructions
In this module, you reviewed how important it is to conduct market research. Every fashion business is impacted by the PESTEL situation and the industry and market conditions.
In this assignment, you will develop an understanding of how PESTEL and microenvironment factors impact your selected brand.
First, use the library databases presented in this module to find reports and articles about the market where your brand is located. Then using other external resources and topics you learned in the previous module and this module, continue your research to complete the following:
Step 1: Identify the major market for your brand. If your brand sells in multiple countries or internationally, choose the country where the brand was established and is currently located. For example, if your brand is Gap, the United States is the main market.
Research the current market conditions in the country, using PESTEL research analysis. Find at least one or two factors for each of the 6 PESTEL components. Please ask your instructor for help if you are not sure how to do this.
Step 2: Identify the industry to which your brand belongs. For example, is your company a womenswear retailer, a beauty brand, or an athletic brand?
Research the current status and trends of the industry your brand competes in. Find at least 4 research factors for the industry. Please ask your instructor for help if you are not sure how to do this.
Step 3: Create a visual presentation, using a visual presentation software, including the following information.
PESTEL factors: Use bullet points, images, and citations to describe each research factor. Explain how this factor impacts your selected brand. Create three to six slides.
Industry status and trends: Use bullet points, images, and citations to describe each research factor. Explain how this factor impacts your selected brand. Create three to six slides.
This assignment is due by the end of this module.
