This review is related to Triangle Solutions’ competitive situation utilizing Michael Porter’s 5 Force model. Triangle Solutions has been a Japanese business which participates in creating casual put on clothing, manufacturing garments and retailing outfits. Triangle Solutions in Hong Kong has built a prosperous company consistently recording very high sales in a per-shop structure. Triangle Solutions provides trendy as well as good quality garments at inexpensive price points, and had been seized as a possible chance to begin a brand position not just domestically but additionally globally.
Product – Design, Need and Solution
Triangle Solutions has been the only real business in Hong Kong which has been promoting Heattech; Heattech has been a distinctive extremely functional collection of innerwear that provides incredible comfort and ease combining the merits of heat-retention as well as anti-perspiration characteristics. It has also been promoting new kind of outdoor jackets down ultra-light, which have been extremely lightweight. And Triangle Solutions has been offering them at very affordable cost. Hardly any other business in Hong Kong is marketing these kinds of jackets. Triangle Solutions has also been marketing +J range, the +J brand, a cooperative endeavour with well-known designer Ms. Jill Sander. This brand continues to be graciously accepted by customers in Hong Kong. These kinds of collections have been solely accessible in Triangle Solutions. Triangle Solutions can acquire edge from all of these unique products and solutions to contest with its competitors. There’s a drawback, nevertheless, even though it has its own unique products and solutions it can’t minimize new entrants as other businesses have been also marketing comparable goods. The prospective marketplace therefore includes youngster as well as teenagers amid the age ranges of 17-35. The necessary characteristics related to the target market include youthfulness, trendy strategy along with a quick upbeat way of life (Sharing Prosperity to get a Caring Society, 2011).
There have been numerous well-known global retailing, manufacturing and also fashion manufacturers like Triangle Solutions who have been functioning in Hong Kong. These companies have been attempting to produce top quality goods to compete and draw in clients. Due to this Triangle Solutions has numerous competitors within the marketplace, therefore, the rivalry has been cut-throat.
Triangle Solutions’ marketplace structure has been monopolistic competitiveness. There have been many competitors of Triangle Solutions within the marketplace for example Gap, Bossini, Giordano, Zara as well as H&M, etc. They offer quite similar products and solutions. And each of these brands sets costs of comparable goods at comparable ranges.
Triangle Solutions Hong Kong has been a subsidiary of Fast Retailing, located in Japan. Fast Retailing set up a SPA (Specialty shop retailer of Private brand Clothing) manufacturer/retailer business design which allows them to manage Triangle Solutions’ at just about all stages of the supply procedure from merchandise layout to the purchasing of fabrics, quality control, stock modifications and end product sales. Fast Retailing offers financial assistance to Triangle Solutions.
Numerous international manufacturers like Triangle Solutions have preserved a regional platform within Hong Kong, benefiting from Hong Kong’s well-established corporate infrastructure. Consequently, the Hong Kong Government has launched a Competition Law to ban and prevent anti-competitive behaviour in several industries and also to sustain a level playing niche. Due to the competition law, Businesses can remain competitive fairly and create their companies in Hong Kong. Brand-new entrants find it very easy to participate in competitiveness simply because rivalry has been legalized within Hong Kong.
Marketing mix includes 4Ps and they include Product, Price, Place as well as Promotion. In this section we have a look at, the pricing elements since this will direct the online marketing strategy for this product.
A lot of companies can replace Triangle Solutions for example H&M, GAP, Bossini as well as Giordano. Triangle Solutions has been not the only option for Hong Kong consumers. Clients have numerous options to choose from. Furthermore, most consumers don’t follow brands; they simply go after the cost, cutting and level of quality. Triangle Solutions isn’t necessarily the only real business which has been promoting top quality garments at inexpensive price points. Its rivals sell the same products and solutions at identical costs. However, some goods have been costly in Triangle Solutions; consumers can decide to buy them from its rivals.
Triangle Solutions has not been utilizing the internet shopping method. This brings about fewer sales for the company. Nevertheless H&M as well as GAP have internet shopping, which pulls consumers who buy merchandise online because of their busy lifestyle. Substitutability has been higher due to this factor for both these companies. However, when consumers fail to buy and/or order products of Triangle Solutions online they are going to choose other firms who have been marketing online. Therefore, it is recommended that Triangle Solutions ought to begin using internet services and marketing systems too to enjoy a more competitive strategy (Sharing Prosperity for a Caring Society, 2011a).
With regards to Porter’s 5 Force Model, we can easily observe that Triangle Solutions’ current rivalry has been strong. Brand-new entrants find it easy to participate in the market competition. The target market for Triangle Solutions has been young adults between the ages of 17-35 and for these consumers there have been several similar alternative companies in Hong Kong. Major competitors for Triangle Solutions include Gap, Bossini, Giordano, Zara as well as H&M. In addition, the Hong Kong Government’s launch of Competition Law to ban and prevent anti-competitive behaviour and also to sustain a level playing niche has further divided the already saturated Hong Kong market. Lastly, the bargaining strength of vendors as well as consumers has been strong. Consequently, one can conclude that the competitive atmosphere for Triangle Solutions has been unfavourable.
Sharing Prosperity for a Caring Society. (2011). Chapter 3: Investing for a Caring Society. Accessed 9-8-13 from: http://www.policyaddress.gov.hk/10-11/eng/agenda.html
Sharing Prosperity for a Caring Society. (2011a). The competition bill policy. Accessed 9-8-13 from: http://www.policyaddress.gov.hk/10-11/eng/p107.html
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