...this will provide to customers is that the businesses will have more money that they could invest into providing better customer service, for example entering new market sectors. At TOPSHOP they could invest money into training their employees this will therefore improve the service that they are providing and hence they will have a competitive advantage. They could also invest the money into new fashion lines and by doing this it will attract a wider range of customers. The investments that TOPSHOP have already made is that they sell children’s clothes and beauty products by doing this it provides customers with convenience as they can purchase a wide range of products from one place. Also internet marketing is quick and easy. Therefore at TOPSHOP any advertisement that they use can be set up quickly and can be placed on the internet within hours, also if any changes need to be made it can be done immediately. The advantage that this has for customers is that they can access the advertisements for a longer period of time and this can attract a wide range of customers. It also keeps the customers informed about any changes that have been made and this is a good method of customer service. At TOPSHOP they place advertisements about new promotions and products that have been introduced. For TOPSHOP advertisements play a big part on the way that the...
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...Intro to CRM- Organisations that sell to business and consumer markets have identified that they cannot appeal to all buyers in the specific markets. This is because it is hard to calculate the total buyers needs as they are so varied and widely scattered. Rather than a business trying to compete in the entire market, the business may segment which identifies the market they serve best. CRM- Customer relationship marketing defined is having a relationship with customers and stakeholders, which involves meeting all their requirements and needs. This is usually met through mutual exchange and fulfillment promises. After identifying the needs and wants of customers, the business needs to ask them selves a simple question, how do we do it?’. This can be done through the company internally (e.g. managers and directors) or externally (e.g. suppliers and customers), but every company deals with customers differently, for example retailers and agents. CRM is needed to improve and maintain a relationship between the customer and the firm. This is done purely for profit. The business wants to get the most out of the customer’s lifetime value and share of wallet. If the relationship the business has with the customer is improved, it will enhance the customer lifetime. A long term relationship results in customer lifetime value. This is because customers have more chaise. This makes them more affluent. Having a bad customer relationship can mean: ❖ Less loyalty ❖...
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...This means that it is fit for everyday purpose and the purpose that it was sold for e.g. if you asked for a printer that was compatible with your computer. The product should also be sold as it is advertised. The right to have faulty good replaced or repaired. This affects Topshop marketing activities as it ensures that they only sell products that they advertise. The products they are selling should also fit the purpose that they are selling it for e.g. a pair of shoes that are wearable in rain/ snow, will not get ruined and then if this does not fit the purpose the customer can have the right to return the product. Low quality products- a lot of returns so they would want a clear returns policy that will stop confusion. Consumer Protection Unfair Trading 2008 The Regulations introduce a general duty not to trade unfairly and seek to ensure that traders act honestly and fairly towards their customers. They apply primarily to business to consumer practices (but elements of business to business practices are also covered where they affect, or are likely to affect, consumers).- http://www.oft.gov.uk/business-advice/treating-customers-fairly/protection#.UnpXwqGnwdU This stops Topshop when marketing from unfair trading when selling to customers. The act stops companies from using unfair trading practices such as competitions that are not true and pestering consumers. It makes sure that in advertisements and the product itself is not misleading, it ensures that...
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...The key function of HRM that this essay will explore is the impact Employee Relations has in the way in which HR operates in many departments. Human resource Management is department which most businesses use as a means of enabling people’s capabilities in order to achieve a critical competitive advantage that’s attained through a distinctive set of integrated employment policies, programmes and practices. (Bratton &Gold 2007).This essay will provide an in depth discussion of components and the key players involved in Employment Relations that are seen in organizations today, as well as the importance of the integration of other key HRM practices and the management of the organisation as a whole. As well as examining the key HR functions I will also analyse the key models, theories and concepts that have a direct impact on HRM such as the Fombrun, Harvard and Warwick models that are seen to be used in many different organisations today. Employee Relations is a collective term in the Human Resources function that includes employee engagement within the workplace, values the employees’ rights to be part of trade unions. It also sets in stone in most organisations the employment legislation as well as managing grievance and disciplinary actions. Employment Relations is regarded as a relatively new term as it has previously was known as industrial relations conversely it does not have the same standards and equality as Employment Relations has in the Human Relations workplace. ...
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...In this task I am going to describe what types of organisations and structures in retailing are. Also I am going to describe the different branches of organisation and structures. Describe at least 4 classifications of different types of stores Hybrid retailers Hybrid stores offer new combinations of products in the same store. For example, Waterstones located in the Reading Oracle Centre is a bookshop which has a combined coffee shop to offer a dual experience for the customers. This type of shopping experience combines social activities with shopping meaning customers are more relaxed and in a better frame of mind to spend longer browsing products and making purchases. Independent retailers Independent retailers usually have less than ten branches. They sell either a specialist range of products such as medicines or they are general convenience stores which sell groceries, household goods, wines and spirits. These stores offer their own personal service and flexible opening hours. An independent store owner gets to decide the discounts, pricing and other trading policies that they apply (as long as they operate within the UK trading laws of course). Many independent stores' market share particularly in the food sector have declined due to a rise of the supermarket chain stores opening in many neighbourhoods. Franchised retailers Franchisee retailers have the selling rights in a geographical area and they pay a fee based on sales to the franchiser. Franchisee businesses...
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...MKT351 Consumer Behaviour Assignment 1 – Group-based Assignment July 2013 Presentation MKT351 Assignment 1 Group-based Assignment This assignment is worth 30% of the final mark for MKT351 Consumer Behaviour. The cut-off date for this assignment is 21 August 2013, 2359hrs. This is a group-based assignment. You should form a group of 3 members from your seminar group. Each group is required to upload a single report to MyUniSIM via your respective seminar group. Please elect a group leader. The responsibility of the group leader is to upload the report on behalf of the group. It is important for each group member to contribute substantially to the final submitted work. All group members are equally responsible for the entire submitted assignment. If you feel that the work distribution is inequitable to either yourself or your group mates, please highlight this to your instructor as soon as possible. Your instructor will then investigate and decide on any action that needs to be taken. It is not necessary for all group members to be awarded the same mark. ___________________________________________________________________________ Submission guidelines for the Group-based Assignment are as follows: 1. Cover page: Include group members’ names and PI number. 2. Word limit for the report is between 2,500 and 3,000 words (excludes cover page, bibliography and appendices). Please adhere to the word limit. Reports that fail to conform to the word limit may be penalised. 3. Font...
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...VERDICT in ASSOCIATION WITH SAS HOW THE UK WILL SHOP: 2013 Introduction Welcome to our forecast for UK retail in 2013 UK retailing is set for another year of tough trading as the hoped for economic recovery is put back further and austerity continues to reign. This Verdict/SAS research shows those sectors and retail channels best placed to weather the storm, and those that will struggle and sets the scene for retail in 2013, highlighting the strategies, trends and innovations that will best ensure survival and aid growth. For more information contact: Cindy Etsell Industry Marketing Manager – Commercial SAS UK & Ireland Wittington House Henley Road Marlow SL7 2EB Tel:: +44 (0)1628 490 929 ■ Mobile 07918 724 381 cindy.etsell@suk.sas.com www.sas.com/uk Maureen Hinton Practice Leader UK Retail Verdict Research 119 Farringdon Road London EC1R 3DA Tel: +44(0) 207551 9423 maureenh@verdict.co.uk www.verdict.co.uk About SAS SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. About Verdict Verdict Research is the leading authority on retailing. Its research and publications provide executives in a wide range of business sectors with unrivalled independent analysis of retail sectors & trends. SECTION ONE INTRODUCTION & SUMMARY UK retail in 2013 – summary of key points UK retail set to grow by 1.8% in 2013 to £300.7bn – the highest rate of growth since the recession began...
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...Inditex in 2003 • Vertically Integrated Network (Production, DC’s, Retail) • €3.9billion Revenues, delivering €839.3m Op profits. • 1558 Hi-Profile OUTLETS. Stradivarius 10% Zara 34% Bershka 13% Oysho 4% • 8 successful Franchises, • ZARA 531 Stores = 34% - BUT, 75% Revenues • 85% of outlets in Europe, Spain 918. • Highly Profitable - Expanding Globally – FAST. • (Note – 2012 Accounts - €15.9b sales, €3.1b operating profits) Massimo Dutti 16% Kiddys Class 4% Pull & Bear 19% 3 • Fast Fashion Industry Overview • Moving designs from catwalk to store quickly, to capture current fashion trends. • In Store experience MUST be ‘trendy & interesting’ to drive regular visits. • Enables mainstream consumers to take advantage of current clothing styles at lower prices. • Brands Include, H&M, Zara, TopShop, Beneton, Gap Design, Make, Distribute - QUICKLY & CHEAPLY. 4 • ZARA Founded ‘75, BUT 40 Years Experience • Market Cycle = 10 days to in-store – continuous cycle. • Customer feedback & inputs are Critical • 5 times MORE NEW ITEM’s annually • No INTERNET – (Hi Returns & inefficient DC’s) • Returning Customers, stock outs & In-store experience - KEY 5 Chairman Legal Advisory Services General...
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...purchasing and decision making. Another type of ownership is a franchise. A franchise is an agreement between a franchisor and a retail franchise; this is done in the form of a contract (Ruth Marciniak). This contract allows the franchisee to sell its goods under the name of an established business. However this can be brand damaging if it is not done to a high standard, for example poor customer service skills in one store may prevent customers from shopping in a different store even though it is under a different franchise agreement. Concessions also fall under this category, this form of ownership normally occurs within a larger retail store. It is a space that is rented to an outside retailer for example Debenhams may lease a plot to TopShop. The proprietor pays a percentage of its sales to the retailer as rent. The last type of ownership is the vertical marketing systems. This consists of channel system functions, which are manufacturing, wholesaling and retailing. These can be owned in different ways. An independent channel system is when all functions are performed...
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...Zara Case Study Fast Fashion Zara’s success story begins by offering a product range capable of catering for men, women and children, providing affordable and stylish clothes whatever the season. Coupled with this, is their keen eye for discovering new fashion trends and translating these trends from the catwalk to the high street, both quickly and affordably. Zara boasts a marketing strategy of firstly product variety with a focal point of ensuring speed to market (Capell). At present, Zara launch 10,000 new articles per year across their portfolio of stores. Finally, store location, as any marketing is left to store location rather than advertising. Opting for a strategy of minimal advertising provokes the consumer into having to visit their stores. Zara is the most profitable brand of Inditex SA, accounting for 75% of the overall profit. Zara has remained focused on its core fashion philosophy that creativity and quality design together with a rapid response to market demands will yield profitable results. One of Zara’s many approaches is fast fashion. A contemporary term used by fashion retailers to acknowledge that designs move from catwalk to store in the fastest time (2weeks!) to capture current trends in the market. This "fast fashion" system depends on a constant exchange of information throughout every part of Zara's supply chain—from customers to store managers, from store managers to market specialists and designers, from designers to production staff, from buyers...
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...Table of Contents: 1.0. Company Overview: ........................................................................................................ 3 2.0. Industry Overview: .......................................................................................................... 3 3.0. Gap’s current channels strategy’ analysis: ....................................................................... 4 3.1. Gap’s market segmentation: ........................................................................................ 5 3.2. Gap’s Current Channel Chains:................................................................................... 6 3.3. Gap’s Directional Policy Matrix: ................................................................................ 7 4.0. Gap’s future channel chain: ............................................................................................ 9 5.0. Recommendations: .......................................................................................................... 9 6.0. Limitations: ................................................................................................................... 11 7.0. References: .................................................................................................................... 12 8.0. Appendix:...................................................................................................................... 14 ...
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...China’s ‘LUXEPLOSION’ 1 It is an industry driven by an ECONOMY ON HYPER-DRIVE NOMINAL GDP: 1992 TO 2011 Source: World Bank 2 A quick expansion into ‘NEW GROUND’ PROVINCIAL GDP PROFILES (2011) Shanghai Beijing Tianjin Inner Mongolia Shaanxi Hunan Chongqing Sichuan Guizhou Source: China National Statistics Bureau, BBDO Analysis 3 As the economy expands and breaks into new ground… …the luxury category is also following suit -- it is achieving high growth simply by getting MORE PEOPLE TO BUY LUXURY GOODS FOR THE VERY FIRST TIME… 4 Luxury spending growth is driven by CATEGORY FIRST-TIMERS DECONSTRUCTING LUXURY SPENDING IN CHINA Source: Bain Luxury Market Survey – China 5 The crucial role of China’s BURGEONING MIDDLE CLASS % SHARE OF URBAN HOUSEHOLDS by income group (in RMB) % SHARE OF LUXURY CONSUMPTION by income group (in RMB) Source: McKinsey & Co. 6 How can they AFFORD LUXURY GOODS What is driving THEIR INTEREST IN LUXURY ? 7 China’ s middle class have a MINDSET THAT IS CONDUCIVE Optimism Ambition Loving of Life for luxury goods & services 65% feel their life will be better in the next 12 months. 42% say they work or study harder in order to succeed. 87% find it important to experience new things & enjoy life. Source: BBDO Voices 8 Their is a desire that is much stronger than THEIR EARNING POWER 49% 62% Say they long for luxury goods despite not...
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...Alyssa Taelman Etude De Marché The influence of Northern European bloggers What influence do bloggers have on fashion? Introduction Nowadays, fashion blogs are all over the Internet, but what exactly is a fashion blog? I will start out by a definition of a fashion blog and a definition of a fashion blogger. Definition fashion blog: a fashion blog is an online medium where all sides of fashion are covered. This includes blogs about: Runway trends Fashion items, such as shoes and handbags Celebrity fashion Street style outfits worn by regular people Definition fashion blogger: fashion blogger are ‘normal’ people, fashion fans, who decide to express their opinions about fashion statements giving their own personal interpretations of what trends are. The opinions may then become very popular world wide because of the medium they use: Internet. Fashion blogs can be categorized in a number of ways: by writer’s expertise, by ownership and by theme. 1 By writer’s expertise 3 sorts of writers can write fashion blogs: insiders, outsiders or aspiring outsiders. 1. Insiders Insiders are people who work (or have previously worked) in the fashion industry or for the traditional fashion media (fashion writers, fashion critics and fashion reporters). For example: Yara Michels from This Chick’s Got Style who is also a magazine editor for Elle Holland. 2. Outsiders Outsiders are people who know a lot (or at least have strong...
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...demographic of young professionals with an age ranging from 23-30 both male and female genders either single or newlyweds in the B and C socioeconomic classes. they are the dominant demographic that the mall caters to this is reinforced by the abundance of the available condominiums within the area making the mall and the area around it a mixed use development. this ensures the inevitability of the residents of these condos, which will most likely be yuppies due to the “condo living” nature of these residences, will definitely buy from nowhere else but robinsons magnolia since it is just simply convenient to do so. Although the mall is situated in an area with quite a number of educational establishments such as LSGH and it gets a lot of visits from students that are in the area it is really still the yuppies that bring in the most business since they are the ones that have the most purchasing power. any revenue produced from the students is usually either on impulse such as an after final exam binge or the fact that it is really just the nearest place to make a purchase so the mall also leverages on a contained market since it is one of the first and newest in the area. The most prominent competitor would have to be green hills yet Robinsons has succeeded in creating a niche target market since the green hills targets a far broader demographic in comparison. The products offered in Robinsons also differ a lot as compared to the products of green hills. While green hills has more...
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...III. Executive Summary Abercrombie & Fitch is one of the most famous apparel retail industry that have done a wonderful job to stay in the market position despite the changing trends and lifestyles that generations have nowadays. It’s hard to keep intact with fashion trends because once you cannot cope up with the changing lifestyle of your consumers, you can expect to have a decrease in your sales and market share in other countries. The industry offers a lot of new and existing potential competitors especially in the fashion industry; you’re not just competing within the U.S. brands but also with European brands that are getting popular in all over the world. They are also products that can substitute with branded apparel, some teenagers who are experiencing financial problems can just buy an imitation one just for a cheap price and even the quality’s great, no one will notice that it was a fake one. Young generations nowadays are conscious of what they have and what things they don’t have, especially with apparel, because the trend nowadays is when you are wearing that kind of shirt and it is a high class brand, you’re in with the trend and you are considered one of the coolest kids in your school. While the organization culture of A&F is very different from other brands because they are the only company who hires people based on their looks and how they act and not with the skills. They are always saying that they don’t treat them as salespeople; they are the image that...
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