Boutique target market Today, owning a boutique is probably one of the easiest moves to become a part of the lucrative growing fashion industry. There are all sorts of fashion boutiques, ranging from selling everyday items to haute couture evening gowns fit for queens, princesses and Academy Award winners. But there are a grate group of people who want to choose clothing from top clothing designers like Morphine Generation, Z Brand and many others that have gained fame and popularity among the hottest celebrities. We’re influenced by celebrities every day. We watch their movies, listen to their songs and read about them. But fashion has been the biggest inspiration to the modern-day consumer with celebrities designing fashion lines of their own.
Most of all Los Angeles is arguably the world’s leading producer of popular entertainmentsuch as motion pictures, television, and recorded musicwhich has a great number of famous men. Thats why people want the most-desirable brands that all the celebs wear. It is clear that being prevented from seeing your target would make it nearly impossible to hit it. Today’s consumers, as you’ve heard many times, are savvier than ever before. They have access to nearly any piece of information they want via the Internet. The target market of an owner or manager of famous boutique should be to supply famous brands from all over the world to give a customers look real star quality. But the chain starts targeting the higher-income demographic by selling high-price clothing.
The Term Paper on Effectiveness of Celebrity in Brand Endorsement
I receive enormous delight in thanking MKT 619 Instructor for permitting me to carry on work later than accepting my proposal for this project. I would like also like to situation my heartiest thanks to every one staff member of Virtual University for their kind support, guidance and useful suggestions, during my two years MBA with this University. I would like to thanks the Mobilink Indigo ...
As a result of it turnaround will be not so high as well as profit. Thats why may be it would be better to target at least two types of customer with different market targets. An owner or manager should define potential and as-yet-unknown customers by income, age, ethnicity, and other variables, and then to locate where these customers tend to be aggregated. Armed with the careful profile of the most-likely customer and an “address” to connect with this prospective customer. There are two types of customer groups that you can target: individual consumers (celebrities) or other groups. Individual consumers are somewhat more difficult to target because they are diverse and unpredictable, their buying preferences may change as they age and they typically have large individual budgets. Other ordinary customers as a target market tend to be fairly stable over time and have no large budgets to spend on various products and services. It is not necessary to choose just one customer group.
You may choose to target the both if it makes sense for your business. However, modifications may need to be made for goods or service if you choose to go this route. For example, the owner of a fashion boutique may target mostly individual consumers (celebs) as her main source of revenue, but have a secondary revenue stream from other customers. For the individual consumers, she may offer many customized options to satisfy their diverse tastes, and she would probably charge a higher price to ensure a good profit margin. For her ordinary customers, she would likely offer a more limited product line at discounts. It goes without saying that a lot of people want to have better and “cooler” clothes.
They want low prices in brand-name clothing. But also they dont want to pay an expensive price for anything. The owner/manager of the smaller business must define quite carefully the demographic profile of the potential customer it is seeking. Smaller businesses are frequently surprised to discover that our perceived profile of present and past customers does not conform to their real-life characteristics. The key for the owner/ manager of the smaller business to exploiting additive market opportunities is to define the profile of potential customer realistically, to aggregate the location(s) of these customers with precision, and to employ the most cost-effective avenue(s) to connect with these targeted markets. From the psychological point of view the groups of the population that want to be like their idols are teenagers and youth from 20 till 30.
The Research paper on Customer perception about brand reality
1. Introduction: The retail industry plays a significant role in the development and growth of overall economy of a nation. In countries such as UK, retailers have positioned themselves in such a way that they are able to cater all types of customers’ needs and wants. (Economic Survey, 2012). The major retailers of UK are Tesco, Sainsburys, Asda, John Lewis, Marks and Spencer etc. Even when the ...
As usual they have no families and children but they have no high incomes. Though taking into account that the boutique is in Los Angeles it should be mentioned that its inhabitants are considered to be one of the better and wealthier classes of Californians. So, potential customer may spend the money of their parents or can earn them. As a rule the representatives of these groups are taking education or have it. By the way, Los Angeles is also one of the most cosmopolitan places in the worldit is home to people from virtually every nation on Earth: 46.53% of the population are Hispanic or Latino of any race, 29.75% are White and 15.89% are Asian. After you have a clear customer profile, you and your staff must learn to think like your target customers to anticipate their needs.
You must track the trends and preferences of this group regularly by staying in constant contact with them and altering your products and services accordingly. Good methods for staying on top of your customer base’s changing preferences include: informal face-to-face discussions, in-store surveys, direct-mailings, and feedback requests on your Web site, in your store, and included with all products shipped. Here are some sample questions to include in the survey: 1. What is your age range? Under 25, 25-35, 35-45, Over 55 2. Sex M/F 3. Occupation: 4.
Household income range: Less than $50,000 $50,000-70,000 $70,000-100,000 More than $100,000 5. What is the highest level of education you have completed: High school, Trade school, Some college, Associate degree, Bachelor’s degree, Master’s degree, Doctorate degree 6. What are your favorite hobbies? 7. Which of the following goods do you buy? 8. Include a listing of your goods. 9.
The Essay on Business Loyalty Brand Loyal
Brand Loyalty" Brand loyalty-that certain something that makes a consumer keep buying over and over again-is an elusive quality. It begins with the consumer's preference for a product on the basis of objective reasons-the drink is sweeter, the paper towel more absorbent. The brand name is the customer's guarantee that he / she will get what they expect" (Fisher). As far back as companies go the ...
What benefits do those goods provide for you? 10. How often do you purchase new goods? Daily, Weekly, Monthly, Bi-annually, Annually 11. How loyal are you to the particular brand that you purchase? Not loyal (I’ll purchase whatever brand is on sale.) Somewhat loyal (I’ll usually purchase one brand unless another one offers a good deal.) Pretty loyal (I’ll always buy one brand unless it is out of stock or otherwise unavailable.) Extremely loyal (I would never purchase any other brand.) 12. Where do you normally purchase these items?.
