DISRUPTION THROUGH BUSINESS MODEL INNOVATION

Introduction


This is the age of the internet where from business to money transfer everything is dependable on the internet. The study is elaborating the idea of the Internet of Things (IoT) and the ways it has disrupted the e-commerce of the Fashion industry. The usage of the business model innovation of IoT is also explained in this study.
2Disruption of IoT in the e-commerce of Fashion retail industry
The Internet of Things (IoT) is the concept which is applied through computer devices that almost connect every material thing through internet access (Amit & Zott, 2012). IoT is firmly recognized with RFID (radio frequency identification) as the system of transmission. The term may also include other technological sensors and wireless equipment even the QR (quick response) codes. The fashion retail sector on e-commerce is undergoing some significant technical interference. Due to the adaptive nature of the consumers, their lifestyle is changing rapidly, and they are shopping mostly online. It has become essential for this e-commerce in fashion retail companies to be up to date by using the technological processes and equipment. Currently, the IoT is on the top position of popularity in the industrial market for better connectivity in the e-commerce of the fashion retail industry. In spite of the better connectivity among the physical devices, there are still a few problems that are faced by fashion retailers using e-commerce, which are delaying the process of growth of their companies.
Better Management of Inventory: Through the application of IoT, the management of inventory has become very simple for e-commerce based fashion retailers and their consumers. An ecosystem which is connected is in need to be under observation and the tracking of inventory items. The IoT is disrupting the observing process (Al-Momani et al. 2016). It has also reduced the human errors in the reordering items; however, sometimes, due to some technical issues, there can be errors. Statistics of the type of any product, the name of the manufacturer, date of expiry also the batch ID of the product can be saved automatically without any human involvement. The automated way of enlisting information can easily be disrupted for a technological problem through IoT. The fashion retailers like 3inute.com and Three Wise Men Ltd companies are the leading clothing companies who are now following the IoT. These leading companies are at the verge of facing the problems that are going to come from technical disruption of the IoT connection.
Warehouse: The IoT needs to make a connection between the devices which are not only rearranging the inventory but also expelling overstocked items that are present in the warehouse. Temperature monitoring must be connected so that the change can be made according to the ideal temperature of the perishable items, one of the leading e-commerce brands (Johnson et al. 2009). Amazon uses the warehouse robots for the enhancement of the picking and packing method. These robots can move up to 8 kilometres and can lift weight 300kgs, but the amount is not satisfactory for the business outcome (Business2community, 2017).
Supply chain management: The IoT connection needs to follow the supply chain management to get flexible characteristics of the fashion retail companies. The context of IoT does not give the assurance of smooth movements of goods from one place to another. AbiandJoseph.com is a company’s website that is based in Australia that has implied the chain system of IoT connection, and with the help of this application, they delivered their products to their customers as early as possible but can quickly confront the problem of the smooth delivery of the products. The clothing website Acuclothing is also facing some difficulties in supply chain management. They are confronted with some delivery issues.
3Implementation of the internet of things through business model innovation in the e-commerce based fashion retail industry


a Value proposition


The term value proposition is the strategy that the leading companies are using where they are showcasing better features of their products (Fleisch et al. 2015). This method also helps the customer to identify the differences between the same products and how they vary from brand to brand. The value proposition business model innovation sets apart brands such as 3intue and Three Wise Men from their competitors of the fashion retail industry with this method of IoT implementation (Christensen et al. 2016). Value proposition mainly focuses on the relationship between customers and retailers. 3inute.com is a clothing brand in Australia which is using the value proposition model. The company was also providing customers with the latest trends in fashion. Different types of style of clothing can be categorized in a particular form as per the preferences of the customer. This is the guideline for the customer, and the proposition value model provides this. The popularity of any company, especially in the fashion industry, is primarily based on the number of times the customers find their websites.
The easiest way to be found on the internet is to apply the IoT device. 3inute can be found on the internet very quickly almost within a fraction of seconds the website is visible on the computer screens of the Three Wise Men Company’s customer. Acuclothing.com is a website where the company is selling uniforms in different places. The company is also providing its customers with athletic costumes that are trending currently. The organizations have also taken the initiative to do some NGO, that information is also enlisted in the website of the company (Business2community, 2017). There is a panel of question and answers where the customers are getting the opportunities to do queries about any product they are willing to buy (Christensen & Johnson, 2009). The Three Wise Men clothing website applies value proposition method. This brand has given its customers the liberty to get informed about any of their questions concerning their selected products.


b Commercialization/monetization strategy


Commercialization means the advertisement of new products or terms that any company has come up within their website that runs by the e-commerce payment method and connected with IoT device (Zhang & Wen, 2017). It is widespread for a customer; while they are looking into the website of any brand suddenly unwanted ads pop in. The advertisement is included in the commercialization of the website. The companies can resolve their disruption by applying these strategies. The online organization that mainly focus on their product value and a thin margin scale on their cost of products are getting the more authentic customer for instances 3inute. Leading clothing brand 3inute can adapt this commercial; the organization strategy by rewarding their customer’s points on every purchase.
Collecting some locations, they can get discounts on the item they are willing to buy. These features are enrolled on any website with the help of IoT process. This commercial or monetization strategy is used to evaluate the market value of the company and also financial growth (Christidis & Devetsikiotis, 2016). While applying the procedure, the fashion retailing company must go through a few phases. The first phase is called the ideation phase, where a philosophy concerned with the business is shortlisted by the company’s leader (Singh & Singh, 2015). Next step is called the industry processed stage in this stage where the company planned how their product going do in terms of finance. 3inute is very professional and has successfully implicated the IoT in their support to grow their business within a short expansion of time.

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Business Strategy A Case Study Of Primark

Business Strategy A Case Study Of Primark

Introduction
In this research, the researcher has incorporated with the various discussions related to the strategic management of an organization. Here, this can be stated that an organization has to face several challenges that are prevailing within the market. The market is highly competitive in nature and hence every company are focusing much on developing the marketing strategies that would enable them to cope up with the competition.
In this assignment, the researcher has considered the marketing strategy of the Primark. It is an organization, which deals with the trending fashion of both men and women. It is an Irish company having it’s headquarter in Dublin, Ireland. The company successfully operates in Belgium, France, UK, US, Austria, Ireland, etc. the company is now developing plans to introduce its products in India. As they are the new entrants in the market, they have to develop a well-defined marketing strategy.

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This is a solution of Business Strategy A Case Study Of Primark in which we discuss Business Strategy.

Introduction

In this research, the researcher has incorporated with the various discussions related to the strategic management of an organization. Here, this can be stated that an organization has to face several challenges that are prevailing within the market. The market is highly competitive in nature and hence every company are focusing much on developing the marketing strategies that would enable them to cope up with the competition.

In this assignment, the researcher has considered the marketing strategy of the Primark. It is an organization, which deals with the trending fashion of both men and women. It is an Irish company having it’s headquarter in Dublin, Ireland. More Know About:- Computer Software Assignment Help

The company successfully operates in Belgium, France, UK, US, Austria, Ireland, etc. the company is now developing plans to introduce its products in India. As they are the new entrants in the market, they have to develop a well-defined marketing strategy. 

Mission, vision, goals, objectives and core competencies of the company

In this section, the Mission, vision, goals, objectives and core competencies of Primark will be briefly discussed:

Mission of Primark

To serve their ordinary folks with the opportunity to purchase the products as rich people but at low prices.

Vision

  • To be the first choice of the customers
  • Grab the opportunity to be the market leader
  • Proper training to the employees
  • To operate being customer centric

Goals and objectives

  • Offer customers with low price products
  • New innovated products
  • To be the first choice of the customers
  • Make strong marketing strategies to be the market leader
  • Operate sustainably

Core competencies

Develop strategies that would help them to be the market leader and to pose high competition in the market. The competitors are mainly Pantaloons, Zara and H&M (Alexis, 2012, p.67).

Factors contributing strategic planning

There are certain factors that contribute to the strategic planning of the organization named, Primark. According to Sadler (2003), it can be stated that strategic planning is considered to be the stepwise and systematic process to develop the strategy for an organization (Bravo, 2010, p.65). It was further mentioned, that there are three issues that contributes to the strategic planning which are mainly the detachment from reality, lack of ownership and dampening of innovations. 

Figure 1: Issues in strategic planning

(Source: Created by Author)

It is very essential to overcome the issues and to make suitable plans that would develop brand image of the organization.  Five major factors contribute to the development of strategic planning are mainly the Engagement, Innovation, Culture, Communication and Project Management. The development in these factors would help in better strategic planning for Primark.

Figure 2: Factors contributing to strategic planning

(Source: Created by Author) 

Effectiveness of techniques used for strategic planning

There are certain techniques that would help the management to develop a well- defined marketing strategies. For instance, the command planning is only applicable for small business, which has a stable environment (Cohen, 2011, p.61).Read More About:- Computer Systems Development Assignment Help

On the other hand, another technique that would help in strategic planning is the directive planning is only applicable for the large organizations having stable environment. In addition, the top- level management is highly involved in this planning.

The third techniques are the emergent strategy planning. The Primark mainly makes the use of the emergent strategy planning, as it is only applicable for complex organizational environment and mostly performed by expert teams or corporate strategic department.

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