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.
Segmenting the market can also help with meeting customer needs better, retaining customers as well as identifying growth opportunities. Research conducted suggests that men’s skincare is the fasted growing category within the beauty industry worldwide and the men’s skincare market has grown 18% since 2006 and will expand by another 23% by 2015. Spa Finder trends(2013) In addition to this, Marketing week(2013) states male consumers account for 25% of Kiehls sales, with continuous growth of 34% year on year. For these reasons in order to gain understanding of the UK male market in relation to skin care, a segmentation table has been created which illustrates a breakdown of the target market in regards to profile, trends and behaviour. ( Appendix 1) The market segmentation table
Positioning is extremely important for a retail firm, because of course a retail store cannot be everything, and firms that were previously positioned to target this generation were now left wondering what to do next. Market share was also getting more competitive with pressures for lower pricing, fast-fashion, and ethical behavior. Le Chateau was faced with the problem of positioning itself in the post-boomer market to achieve market share and profitability goals as it had done for the past 50 years. Target Market and it’s Evolution Le Chateau initially focused on marketing its apparel to fashion leaders. London’s Carnaby Street was a new fashion wave described as modern in the 1960’s.
1. Local area – Wandsworth 2. 4 Business Organisations in the area * Primark * Sainsbury’s * Starbucks * Roehampton club 3. Organization * Primark Sector - Tertiary trade Ownership – Public limited Company Business activity – Primark is a fashionable shop and its sells clothes for man and woman Competitors – new look, H&M Success * Importance of having a strong vision and seeing it through – they sells verity of cloths and accessories. They want to be a best fashion shop in the world, and for this they need to be come with new ideas.
Information can be shared quickly and easily. Saves time and travel costs.Less bulky than paper records to store. The use of passwords limit access. | Lack of computer skills may restrict communication via computer. Record could be accidently deleted Security could be comprorised | Backing up work in case it is lost | The use of passwords limits access and maintain confidentiality.
The ability to shop from one place is more effective than driving around to several stores and hopes to get the things that they want. The time and money that is saved from this is remarkable. Each year online sales grow and consumersr traditional retailer stores lower in sales. The need for huge malls is becoming a thing of the past. In 2010, the total e-retailers sold more than $412.491 billion worth of merchandise, up from $129.797 in 2009.
In conclusion, prêt-a-porter appeared by demand of time. In addition, they couldn’t operate their ateliers only for haute couture because a development of manufacturing technology created wider marketplaces. Prêt-a-porter attracted a lot of attention more than Haute Couture, and it became popular in 50s. The other distinguishable difference is their purpose of making clothes. In other words, who are their customers, who buy their clothes and pay a lot of the money for them.
The final result of this phenomenon is for example celebrities wearing flip-flops and tattoos, the Saint Laurent’s FW13 collection with a strong influence of street style and even princesses wearing overalls (Princess Diana in the 80’s). 3. Personal perspective I believe the trickle up theory is one of the most influential methods nowadays in the Fashion industry since the 60s. The Fashion world shifted after the War, women started to have a different role in society and society itself changed. The people on the street started to influence the designers and Art was no longer an elite exclusive thing, making the Fashion world open up for everyone.
Parents today are working harder and earning more money than ever before, and they can afford to pamper and indulge their children more than any previous generation. Simultaneously, peers and media marketing cultivate children’s material interests and, by middle school, their desire for extraneous possessions begins to accelerate rapidly. Current annual spending trends are soaring, with children between the ages of 8 and 12 spending 18 billion dollars annually and teens’ annual consumption is reaching 94 billion dollars. The majority of these purchases are clothing, video games, and cd’s. Children are finely attuned to each other’s acquisitions Xbox 360s, PlayStation 3, cell phones and iPods.
Key External Factors Weight Rating Weighted Score OPPORTUNITIES 1.People who are obese and overweight are estimated to increase by 27.27% and 17.95% respectively by 2015. (Social) 2.Global population is estimated to grow 1.45% in the year 2012,and surpass 9billion in 2050. (demographic) 3. The women’s sports market is one of the most attractive segments in the sporting goods industry. (social) 3.Increasing consumer demand for functional apparel.