COMPETENCIES ANALYSIS | MKT3063 E-PORTFOLIO

1.4 COMPETENCIES ANALYSIS

A competencies analysis is an essential element in evaluating an organisations performance (CIPD, 2022). An adaptation of a TOWS matrix (Figure 1.3) analyses information about the internal and external environment (Peterdy, 2023) and proposes strategic options (Mindtools, 2023) to inform Balenciaga’s marketing objectives (Chaffey, 2022) and maximise core competencies (LinkedIn, 2023).

The most appropriate strategic direction for Balenciaga to follow is brand revitalisation. Brand revitalisation involves enhancing Balenciaga’s existing strength in innovative design and tailoring (Tashjian, 2023; Klarna, 2022) in order to refresh brand equity and increase consumer purchase intention (Chen, 2022). In addition to this, the TOWS matrix highlights that Balenciaga could further capitalise on opportunities in the customisation of luxury fashion (Smith, 2022) through VR technology and ‘phygital identities’ (Beauloye, 2023; Bain, 2022). Additionally, Balenciaga should build on the strength of a rich brand heritage (Mallevays, 2023) in order to avoid the threat of brand decline (Bradley, 2022).

Figure 1.3 TOWS Matrix

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Figure 1.3 TOWS Matrix

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Figure 1.3 TOWS Matrix

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Figure 1.3 TOWS Matrix

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