Lane Bryant is one such retail store that has developed marketing strategies that has made them one the most profitable retail stores for women who are larger in size. Lane Bryant’s marketing strategies include generic marketing and market segmentation. This paper will analyze the use of Lane Bryant’s generic marketing strategy and market segmentation to show how Lane Bryant has grown to become one the top retail stores in the United States. Lane Bryant’s Generic Marketing Strategy & Segmentation The Lane Bryant retail stores definitely utilize the generic marketing strategy in conjunction with market segmentation. The marketing strategies consist of overall cost leadership, differentiation, and focus.
They then develop calculations to categorize these consumer patterns, and then use them as tools to provide insight into consumer reactions and possible future buying patterns. One of these tools is called the Price Elasticity of Demand. The Price Elasticity of Demand measures how consumer demand changes as a result of changes in price and it is represented as a coefficient. Elasticity is the main aspect of this coefficient and it represents how responsive or elastic consumers are to price fluctuations. This coefficient is calculated by dividing the change in demand by the original demand, and subsequently dividing that total by the change in price divided by the original price and the final
Study the demand elasticity for its products and discuss the availability of close substitutes for its products. How does that affect pricing decisions? Analyze the company’s profitability. Identify the economy or industry influences on its costs, operations, and profitability. Describe the competitive environment in which the firm operates, the distribution of market power, and the strategic behavior of the firm and its competitors.
The balance sheet connects to income statements, in turn also connected to cash flow statement. Occurrences or a change to the net cash activities of the cash flow statement affects the balance sheet. The balance sheet is useful when estimating the potential of the organization in order for them to achieve there long-term mission. However, cash flow statement displays the exchange of currency among an organization and external agents. For example, the cash flow can be affected when the company purchases products, and if the costs of the products are an outstanding amount in turn it will affect the assets on the balance sheet.
Wal-Mart’s divisional structure, according to the text, “as organizations grow and become increasingly diversified, they find that functional departments have difficulty managing a wide variety of products, customers, and geographic regions. In this case, organizations many restructure to group all functions into a single division and duplicate each of the functions across all the divisions” (Bates, 2011). Wal-Mart is sectioned into three product divisional structures. The three include Wal-Mart, Sam’s Club, and some global stores. Wal-Mart was wise to use the divisional plans, as each division is open to center their attention on specific goals, customer services, and product knowledge.
In this type of decision making process, the various types of constraints that affect the decision are financial, legal, market, human, and organizational. Each of these constraints potentially can affect another, which in turn affects the organization. Another technique used to assist in the simulation was Pareto Analysis. In this technique the team was able to prioritize the possible changes by identifying the problems that would be resolved once the changes were implemented. Proposing a new variable pay scale, will affect how the employees are performing, sales, profitability, attrition, as well as the overall well-being of the store.
• Identify quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness. Week Two: Marketing Research • Justify the importance of marketing research in the development of marketing strategy and tactics. • Analyze the importance of competitive intelligence and analysis in marketing. • Identify various segmentation criteria that impact target market selection. • Describe the various types of organizational buyers and consumers and the factors that influence their purchasing decisions.
Industry structure is categorized on market structure variables, which are believed to determine the extent and characteristics of competition. Those variables, which have received the most attention, are number of buyers and sellers, extent of product substitutability, costs, ease of entry and exit, and the extent of mutual interdependence [Baumol, 1982; Colton, 1993]. In the traditional framework, these structural variables are distilled into the following taxonomy of market structures: These four market structures each represent an
Cultural traits will influence demand factors, as they will determine consumers’ preferences for different products and services. In the same way these cultural traits will also influence how products/ services are best marketed to consumers, for example how products/ services should be branded, advertised/ promoted, priced and distributed. The same cultural traits will also affect supply factors, in terms of what distribution channels are used when actually getting products/ services to these markets. In this respect, cultural characteristics will also influence the ways in which business is carried out in different countries, as there will be different business / organisational cultural traits as well as consumer characteristics. In the main body of this essay, I will endeavour to demonstrate the impact of cultural differences in China and the UK on business practices citing actual practical business examples as well as empirical research that has been carried out.
Synopsis Consumerist culture is understood to be both a driver and resultant of capitalist ideology. Society’s continual desire to acquire commodities that satisfy their marginal utilities fuels the capitalist system of production. This essay considers arguments in support of the idea that consumerism is a vital aspect of capitalist economic process. It proves that in a post-scarcity society avarice has become a social norm, market institutions manipulate consumer preference, by propagating that identities are forged through conspicuous consumption, and thus persuade individuals that they will maximise their utility by continually purchasing the excess of output generated by the economic system. Thus demonstrating interdependency between the affluenza of consumerism culture and capitalistic economic growth.