Therefore, companies employ various strategies to advertise and sell their products or services. Companies try to promote and sell their products to customers that they have identified in a target market. They implement marketing strategies to help accomplish the goal of profitable sales. Hence, marketing strategies are vital to the success of the company and the marketing strategy that a successful company employs will seek to overcome shortcomings and increase the company’s revenue. 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.
Promotion: Advertisement in print, electronic and internet media to be used for promotion. 4. Place: Should be telecast during prime time Recommendation: Based on the several analysis it is to be recommended to be target “Fashionistas” and “Planners and Shoppers” to increase the advertisement revenue from advertiser. Pros | Increase in
The management of the company has decided to introduce changes to the business processes. The business process of the company would be enhanced through the use of latest technology. The goal of the management is to increase the sales revenue for the company by focusing more on the customer relationship management initiatives. Furthermore, the company also wants to analyze the analytical customer relationship management program. However, the final decision for the implementation of this analytical CRM project depends on the return on investment and the adequate payback period.
For example this is including things like such as if the customers is going to choose to buy their clothes from a business like Debenhams as they might be trying to show that they are very happy on the product that they are selling. Design of the marketing mix to satisfy the needs of the target market: The business will design their marketing mix around of the customers’ demands. This is important that the business design something that will meet the customers demand because they will have more sales and also more profits, if the business doesn’t do this they will lose sales and also a lots of profits, so this is very important that they do this if they don’t it will bring their businesses down. The business will make sure that they are investigation to find out what will be the best products
MGMT 4020 June 24, 2013 Homework Assignment #2 Competition is very high in the North American wholesale club industry. Every wholesale club wants to sell top-quality products at prices less than others in order to attract draw customers. And they all want to display low prices on pallets or inexpensive shelving, therefore, they have very low costs for store decor and fixtures, have comparatively low labor costs, and spent minimally on advertising and customer service. Five Forces Analysis 1. Bargaining Power of Buyers is moderate.
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
Introduction The global fashion market is a consumer-driven industry. The evolving world and new technologies have allowed consumers to have more access to fashion. As a result, consumers’ needs are changing, competition is intense, and companies are emerging to meet these demands. In this case analysis, Zara International, a Spanish-based chain owned by Inditex, is a retailer who has taken a new approach in the industry. With their unique strategy, Zara has the competitive advantage to be sustainable.
12 month goals: Increase turnover by 30% by: • Introducing 20 new products including a range of 6 ‘health’ lollies that have added nutrients. KPI- Sales staff to promote the companies products to clients, this includes any new product lines. KPI- assistants who make customers feel welcome, attend to their questions and needs knowledgably and promptly Timeframe- 12 months Build market loyalty by specifically targeting ‘tweens’ as customers by: • designing new packaging specifically designed to have greater appeal to the 7-12 age group. KPI- Sales staff are to target identified groups for increased sales. • introducing a club membership for ‘tweens’ that gives them free gifts for purchases over specific amounts KPI- Sales staff are to include during sales transactions or whilst
A starting salary for a fashion merchandiser is $7-$11 an hour. As you get more experienced you can get a salary up to $16. Distributors and Buyers usually get an annual salary of $25,000 to $60,000. If you work at a top-fashion store, you can get about $70,000 to $100,000 annually. The more experience the better.
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.