Porter's 5 Forces analysis of Damien Hirst And The Contemporary Art Market Case Analysis

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Porter's 5 Forces analysis of Damien Hirst And The Contemporary Art Market Case Study Help

Porter's 5 Forces AnalysisA Porter's 5 Forces analysis of Damien Hirst And The Contemporary Art Market Case Analysis might be conducted to design numerous methods using the strengths of the company to obtain opportunities, conquer weaknesses and to decrease the threats. It could likewise be utilized to assess that how certain weak points resist certain opportunities and increase the hazards. The methods drafted utilizing the Porter's 5 Forces analysis of Damien Hirst And The Contemporary Art Market Case Solution are offered as follows;
• Utilization of strong worldwide brand name position and financial resources in broadening towards potential markets.
• Distinct brand experience might help out the company to better position itself in new markets.
• Resistance in growth in the potential global markets encouraging variety.
• High rates limits the growth in various Asian and African nations with low per capita earnings.
• Strong brand name acknowledgment, non-traditional methods of marketing and the unique brand name experience could be used to decrease the hazard from potential consumers.
• Strict look policies might led to the consumer shift towards Victoria with high social responsibility.
• Restricted target markets might caused a decline in the overall market share of the company.
These methods might help the business to improvise its market position and be at the leading position in the market.

Financial Analysis


Financial analysis for Porter's 5 Forces analysis of Damien Hirst And The Contemporary Art Market Case Analysis could be performed to examine the accessibility of financial resources to the company that might be utilized in growth towards worldwide markets. The financial position of the business might be examined by using the information given in the case Exhibit 1. The ratios that might be considered in monetary efficiency analysis are given in the Table 1 below;

From the above Table 1, it might be seen that the company has an affordable monetary efficiency with a ROE of 7.9% and a high sales development of 18.4%. Although, a 4.3% net revenue margin does not seems to be potential and the business must put efforts in increasing its earnings in addition to decreasing its operational expenditures to increase its revenue margins.

Porter's 5 Forces analysis of Damien Hirst And The Contemporary Art Market Case Analysis

Segmentation

The segmentation analysis consists of the analysis of various business sections of the company in domestic and the global, markets. The majority of the company's Brick and Mortar stores are located in US consisting of above 500 shops in practically each of the state of United States. The business has also an international presence in 8 various countries with its greatest number of stores located in United Kingdom i.e. 21. The companyhas a total of 54 shops in global markets that is probably the 10% of its stores in the US. It suggests that majority of the profits of the business originated from the regional markets. Moreover, the company is considering to broaden its stores into 7 more European and Asian nations. A chart showing the presence of the company in different global markets is given in the Appendix 2.

Targeting


The company targets its clothes brand name to the young, tall and attractive teenagers and kids that are considered to be cool. This targeting policy is responsible for different distinctions in the company related to its competitors. The business hires great looking males and women for its stores and follows a strict appearance policy to maintain tourist attraction of attractive people towards its shops and provide a special brand name experience.

Positioning


The business has positioned its brand as a high-end brand targeting just a particular market segment. The company with its non-traditional methods of marketing through designs and agents posters its brand image as a luxury clothing brand name targeted to the cool and good-looking characters in society. Although, this market position attracts different elite individuals towards the brand however it injures the business's position in different communities focused at the equality in society.

External Analysis

Competitor Analysis


Porter's 5 Forces analysis of Damien Hirst And The Contemporary Art Market Case Solution faces a great deal of competition in the market with the existence of different variety of rivals in the market. A chart showing the close competitors in addition to their qualities and the marketing technique is given up. it might be seen that the American Eagle Outfitters is considered to be the strongest competitors for company with its marketing method associated to the tv shows. Space is likewise thought about to be a potential rival in local as well as in worldwide; markets as the company is thinking about to shift in the global markets. Along with it, Damien Hirst And The Contemporary Art Market Case Study Analysis. with its flexible rates technique and the Victoria's Street with its strong social status present an extreme danger to the current market share of the Porter's 5 Forces analysis of Damien Hirst And The Contemporary Art Market Case Solution.



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