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Tuesday, February 17, 2009
The scope of marketing is broadened whenever a country sells its products in the international market. Here the culture and activities of one country meets the others. To remain successful, every country, and organization participating in the global race has to take care of the enduring components of marketing; namely 'customer value', 'focus', and 'competitive advantage'. Apparel market is competitive and challenging both in terms of manufacturing and retailing. The year 2008 has caused a mixed reaction in the global market for clothing. Looming recession and a resulting economic slowdown has weakened the consumer's confidence thereby considerable influencing the overall apparel sales for 2008.Asian markets played a key role during 2008. The demographic evolution in Asian countries like India and China, and increasing brand awareness, have caused a drastic change in the preferences of consumers who had began to shift their choice towards branded apparels, boosting the growth of organized clothing sector. US has started an 'anti-subsidy' war against the import of Chinese clothing. Effects of Obama's trade policies and its influence in the US apparel market are yet; unknown. Performance of Bangladesh and Vietnam ascertained to be strong, with Vietnam proving to be a 'rising star' in the global forefront.
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