Urban Outfitters Research Paper

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A Brief Overview of Urban Outfitters and Niche Products: Phillip C. Moore Strayer University: Introduction to Business January 25, 2011 A Brief Overview of Urban Outfitters and Niche Products Alex Noble once said; “Success is not a place at which one arrives but rather the spirit with which one undertakes and continues the journey.” (Journey quotes). It is sad to see the many people who begin the journey to business ownership fail simply because they do not have a plan, or worse yet, think that starting a business means instant success. However, there are those like Richard and Judy Hayne and a close friend, Scott Belair, who see a need and work toward the fulfillment of that need which becomes a “niche” business. Three…show more content…
This idea was expanded upon and is now known as Urban Outfitters. There have been similar niche products over the years that have made their way into the American mainstream. One such business is Microsoft. Thanks to Bill Gates having an idea of a computer operating system that would allow one to work on several things at one time, the Windows software was developed. Other such businesses are J. C. Whitney Auto Parts and Kentucky Fried Chicken. Unlike other chain auto parts stores such as Auto Zone, J. C. Whitney focused on hard to find or discontinued parts. Their clientele consists mostly of auto restorers, and those who hate to part with their “old Betsy” and continue to repair it rather than buy a new vehicle. One example is being able to find a headlight for a 1937 Ford if you need it. Kentucky Fried Chicken started much like the Urban Outfitters. Travelers used to pack sandwiches and the like before going on a trip. Harlan Sanders felt like many of them would be willing to have the option of a good hot home cooked meal. It was based upon this idea that he began to sell a special recipe chicken from a roadside stand; the rest is…show more content…
The first reason is perceived value. Perceived value is where the consumer feels that because they pay more for an item, the better it will perform. Examples of this would be the BMW and the Jaguar automobiles; which has proven to be true when one examines the service records of these vehicles. Another reason for a higher priced niche product purchase would be the status it implies. People have an inbred need to feel important although they may not be aware of it. Some feel that by having a certain exclusive item such as Gucci shoes or Prada dresses that it in some way makes them more important; when in reality these products are of no better quality then some “common” brands; while others feel that they can afford it therefore they deserve it. The final reason is belief in the principles and values the niche company may hold in business and personal operations. Truett Cathy’s Chik-Filet is an example of such beliefs and practices. Mr. Cathy was the first to market a chicken sandwich in this area. Although the prices are higher there many people frequent his business simply because the stores are never open on Sunday, he is a strong believer in educational opportunities for young people, and pays a good wage to his workers. In essence, he holds to his beliefs and those who respect those beliefs continue to support his

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