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Technological
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Legal
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Environmental
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Society is a lot more influenced by social
media now and it takes up most of our time. So
as a brand Ted Baker can use this to their
advantage as Georgia Toffolo is a young
celebrity who understands how to use social
media and this will make her more relatable
for consumers.
Social media marketing is a massive thing now
and many consumers, especially our target
market, are influenced by the ads they see
online.
The younger generation which we are
targeting with this collaboration prefers to see
digital technology to shop online, whereas he
older generation who are Ted Baker’s usual
target market prefer to shop in store. This
means the collaboration will need to be made
accessible on all platforms in order to broaden
their target market; which is the aim of the
collaboration.
If the laws on tax change after the election,
Ted Baker may have to alter their pricing
strategy.
If the laws on minimum wage change and it
increases, which Labour have promised if they
get elected, the company may have to alter
their pricing strategy to compensate for this.
Copyright laws mean that the company needs
to ensure their designs are unique and aren’t
being copied from elsewhere.
Environmental factors can cause sourcing
problems. As all of the range is going to be
sourced from abroad, environmental factors
which cannot be controlled could affect this.
Climate changes can differ the way consumers
react to new products in stores, for example if
the weather is sunny and hot it is likely that
there will be an increase in summer clothing
sales. So, if the weather is cooler a summer
collection could be unsuccessful.