Current ratio
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The current ratio is a financial ratio that shows the proportion of current
assets to current liabilities. The current ratio is used as an indicator of
a c...
6 years ago
Wednesday 19 November 2008
BOOM FOR ONLINE FASHION FIRM ASOS
a. possible reasons for the success of ASOS
I think the possible reasons why ASOS make a big success are:
First,they sale on online you can order the clothes 24hours!!! And ask them to delivery it for you.It makes a big difference from shop.Assuming you are an housewife,you have no time go out for shopping,you should look after your child and prepare the dinner for you husband,wishing clothes.....etc...if you buy clothes online,it will save you much time....
Second, Location,as we know some businesses opened in their own house,it means you don`t need to open a shop and pay rent monthly!It`s easy to open,and easy to manage...
Third,you can do all these things by yourself,or ask your family to help you,you don`t have to employ people,it also saves money.
Because of second and third reasons,they can offer low price....it`s full of competition...
b. who the main competitors are:
Because not only ASOS manages clothes online,more and more small firms of business aim at this market...
Some famous brand are popular,so people prefer to buy some luxury clothes than spend money online.
c. strengths/weaknesses of their products
strengths:
24 hours open,free delivery?pay with credit card.update information.easy to start-up.no pay for rent and employee salary.you can offer low price comparing with same product.easy to gain profit
weaknesses:
Maybe normal quality??And not famous brand name?New consumers have less confident than entity clothes shop.
d. what steps can they take to ensure continued success?
find the market gap
improve quality of the clothes
do some market tests or market research
the features of the products.some humanize services?
I think the possible reasons why ASOS make a big success are:
First,they sale on online you can order the clothes 24hours!!! And ask them to delivery it for you.It makes a big difference from shop.Assuming you are an housewife,you have no time go out for shopping,you should look after your child and prepare the dinner for you husband,wishing clothes.....etc...if you buy clothes online,it will save you much time....
Second, Location,as we know some businesses opened in their own house,it means you don`t need to open a shop and pay rent monthly!It`s easy to open,and easy to manage...
Third,you can do all these things by yourself,or ask your family to help you,you don`t have to employ people,it also saves money.
Because of second and third reasons,they can offer low price....it`s full of competition...
b. who the main competitors are:
Because not only ASOS manages clothes online,more and more small firms of business aim at this market...
Some famous brand are popular,so people prefer to buy some luxury clothes than spend money online.
c. strengths/weaknesses of their products
strengths:
24 hours open,free delivery?pay with credit card.update information.easy to start-up.no pay for rent and employee salary.you can offer low price comparing with same product.easy to gain profit
weaknesses:
Maybe normal quality??And not famous brand name?New consumers have less confident than entity clothes shop.
d. what steps can they take to ensure continued success?
find the market gap
improve quality of the clothes
do some market tests or market research
the features of the products.some humanize services?
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