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Analyzing the Crisis Management Strategies to Address Brand Image Issues in the Fast Fashion Industry
- 1 Institute of Finance, University of Finance and Economics, Tianjin, China
* Author to whom correspondence should be addressed.
Abstract
This paper offers a thorough analysis of how Zara managed to protect its brand reputation and retain customer loyalty during the plagiarism incident and the related compensation dispute. This study examines Zara's response to brand crisis events and customer reactions. It analyzes how Zara altered its brand strategy to effectively handle unfavorable media coverage and reputational risk. The results underscore the necessity for fast fashion firms to implement proactive measures in response to unfavorable media coverage. These measures include modifying design and manufacturing tactics, enhancing public relations efforts, and meticulously overseeing brand communication. Factors such as brand recognition, product quality, and pricing influence consumers' responses to crisis events. Techniques specifically designed to suit various market and cultural environments are essential for efficient crisis management in the fast fashion industry. This study enhances comprehension of crisis management strategies in the fashion industry and offers practical suggestions for brand managers and academics.
Keywords
Zara, Consumer Preference, Market Position, Social – Media
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Cite this article
Shi,Y. (2024). Analyzing the Crisis Management Strategies to Address Brand Image Issues in the Fast Fashion Industry. Advances in Economics, Management and Political Sciences,99,47-53.
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Volume title: Proceedings of ICFTBA 2024 Workshop: Finance in the Age of Environmental Risks and Sustainability
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