A client is a person who would support your organisation very passively. Although they would come buy your products or use your services they still wouldn’t make recommendations to friends or family about it. A lot of businesses would provide excellent and efficient customer service to try and change
Discount Customers- Discount customers are also frequent visitors but they are only a part of business when offered with discounts on regular products and brands or they buy only low cost products. More is the discount the more they tend towards buying. These customers are mostly related to small industries or the industries that focus on low or marginal investments on products. Focus on these types of customers is also important as they also promote distinguished part of profit into business. Wandering Customers- These are the least profitable customers as sometimes they themselves are not sure what to buy.
This could see them become a one stop shop for everything to do with fashion, from makeup to clothes to fashionable gifts for friends. In the current business environment, consumers are shopping less because of the recent recession, however if they see smaller, inexpensive items alongside the clothes they are purchasing in Topshop, they are likely to pick them up and buy them, seeing them as a small extra; bringing in a considerable increase in profit for Topshop overall. Since it was founded in 1964, Topshop has gradually become higher end in the eyes of consumers. When it began it was seen as a bargain shop, much like Primark is viewed today. However it has adapted to the current business environment and is now seen as one of the higher end shops on the high street.
The media gives a public view of other producing companies of their product. As for some products that come out to being very successful and attracting, urges other producing companies to remake the same thing with a different name and little adjustments to make it seem “original”. There are many examples to prove that the media is the reason that culture is being replicate. For example, a very common and obvious one is the cloths that everyone wears. Anyone can walk into a clothing store and find something they like then later on walk into a different clothing store and find something either the same or very similar, the only difference between them are the price, name brand and sometimes the material of the clothing.
Urban Outfitters, Inc. (“URBN”) was established in 1970, with its chief headquarters located in Philadelphia, Pennsylvania. Originating in locations close to college towns, Urban Outfitters began as a “free thinking” hip boutique. Forty years later, Urban Outfitters, Inc. has evolved from vintage apparel to including fashionable designer partnerships and luxury apparel. Urban Outfitters, Inc. is now considered a specialty retail enterprise which provides a diverse line of everyday products for customer niches. The company’s mission is to implore an emotional attachment with customers by establishing a unified environment through its retail locations.
I think that Cosco’s biggest weakness is that they are not overly forward-looking. Their mission statement, “To continually provide members with quality goods and services as the lowest possible prices.” does not tell who Costco is or where Costco is going. Gamble and Thompson (2009) suggest that mission statements,. Costco has not really addressed their competition, Sam’s Club and BJ’s. They have planned on expanding their business domestically as well as internationally.
They have a good variety of products to shop for. Wal-Mart has many competitors, but one of the strengths that the company has the ability to lower the prices for their customers need. Wal-Mart can be consider a unique store because of one special strategy that they have. The strategy consists of comparing the prices of the other stores, if the other store has an ad of a lower price than Wal-Mart, then they will give it to them to the same price. Many costumers is one of the plus that they give to Wal-Mart because this means that they don’t have to go store by store catching all the specials that they have.
Aesthetically they keep cost down by not going overboard with interior design and comparatively have low labor costs. The strongest competitive force is the rivalry among sellers, buyers and suppliers. The possibility of these large wholesale companies being affected by potential new entrants is quite low. Because we are talking about significant amounts of quantities, the wholesale club industry will not be impacted by other industries offering substitute products. I think Supermarkets have a minimal competitive impact because they try to reach a different target market, even though Supermarkets and the wholesale club industry both carry similar products.
Its most unusual strategy is its policy of zero advertising; the company prefers to invest a percentage of revenues in opening new stores instead. Main shareholder of Inditex, Amancio Ortega Source: Copyright © Inditex. Zara’s business model Zara is a vertically integrated retailer. Unlike similar apparel retailers, Zara controls most of the steps on the supply chain: it designs, produces and distributes itself. Zara is a fashion imitator and focuses its attention on understanding the current fashion trend, which is what customers want, and then delivering it, rather M04_HOLL3160_06_SE_C04.indd 144 than promoting predicted season’s trends via fashion shows and similar channels of influence, as traditionally done by the fashion industry.
The rules of marketing may have changed but it definitely does not mean that IM is the only answer for marketers. For a company like HubSpot, whose products appeal to a certain type of customer, specifically people who are familiar with 2.0 and know what product they are looking for, IM is effective because potential customers are already familiar with the platform and are shopping around. IM is also good because it is cheaper and provides very informative details on the company’s products. However, if a business only offers products which appeal to older or specific customers who are not familiar with web 2.0, IM will not work. One example of a business where IM will not work is a business that that sells electric wheelchair.