Urban Outfitters Continuing Case Study: Marketing A Business Essay Example

Outfitters wholesalers would likely not have the ability to distribute to large retail stores due to their limited capacity for mass production and inability to offer products at a similar low cost. Furthermore, these big box stores would be incapable of selling the exact same items found at Urban Outfitters. The value of exclusivity as a marketing tactic can be attributed to three primary factors: its ability to tap into human psychology, its effectiveness surpassing pure economics in marketing strategies, and its creation of an exclusive atmosphere that appeals to individuals.

The desire to belong and fear of loss greatly impact our purchasing decisions. When a product is considered rare or exclusive, it appeals to these innate desires, leading us to be more willing to pay a higher price for it rather than waiting for a discount. Limited availability further enhances the perception of greater value, justifying the higher price tag. Ferrari exemplifies this phenomenon with their limited inventory, high prices, and increasing value.

Only a select few possess the monetary means to buy high-end goods, which puts them in an elite category. Retailers benefit from this tactic in several ways. By implementing specific marketing techniques that emphasize exclusivity, such as keeping stock limited and controlling distribution channels, they can increase their profits. Furthermore, companies can exploit higher profit margins by offering exclusive products that consumers are willing to pay extra for. Senk argues that shopping essentially functions as a form of entertainment. What do you think about this assertion?

Shopping is often considered entertaining as it engages the senses through visual and auditory elements. Vibrant colors, captivating displays, and lively music

work together to evoke emotions in shoppers and create a connection with the product. Addidas is revolutionizing this concept by introducing inventive features at their Mi Innovation center. These features include a catwalk-style scanner that assesses the foot shape, size, and pressure points of individuals who walk or run on it after just a few steps.

Customers now have the ability to input their color and accent preferences on a large touch screen. They can also utilize an interactive "virtual mirror" to test out their customized shoes or any other pair without taking off their own. Furthermore, retailers have introduced a new scan table equipped with RFID technology that shows detailed product information when scanning the shoes. This groundbreaking shopping method is transforming the industry as retailers leverage the concept of "shoppertainment" to entice customers and promote sales.

The emotional bond encourages them to spend more time and money. The distinctive experience leads to word-of-mouth promotion and loyal customers. Showplace Ice Cream Parlor in Beach Haven, NJ holds a special place in my childhood memories. The staff at Showplace entertains the customers by having them sing songs about their unique ice-cream sundaes with a microphone. Showplace has creatively named their sundaes, including the Phantom of the Opera and Annie sundaes.

Try singing opera with a mouth full of hot fudge! It will be a memorable experience that you will never forget, especially if your performance gets recorded and shared on YouTube. The long line outside the building proves the success of their distinctive marketing approach. When you add entertainment to the equation, the expensive treats become worth the extra money. Dairy Queen

should be cautious! Provide me with an unforgettable experience and I will remain a devoted customer forever, as well as share my story with all of my friends.