Fashion Marketing Essay Example

likely" to purchase your offering.

If done properly this will help to insure the highest return for your marketing/sales expenditures. Depending on whether you are selling your offering to individual consumers or a business, there are definite differences in what you will consider when defining market segments (http://www. businessplans. org/segment. html)

Market Segment of Topshop

A market segment is a group of customers from the market that have similar sets of characteristics.

They need to know what the needs and requirements of the specific target customers are and what they need to do to be more customer focused. Topshop will need to use market orientated tool such as market research and market testing to achieve being market orientated. Another aspect of marketing is that Topshop; is to be able to segment its target market. Segmentation is is the process of dividing a market up into different groups of customers, in order to create different products to meet their specific needs.This is known as market segmentation. They also need to analyse what convinces people to buy things so they also have to analyse buyer behavior.

The most obvious type of segmentation is between customers who buy distinctly different products. By using questionaires Topshop will be able to identify various aspects of segmentation for e. g. age, gender, income. It will also raise awareness of potential customers which will have Topshop be organized to satisfy thier needs. This will also give the customers and public a good impression about the brand, Topshop.

(www. tutor2u. net/business/marketorientation) Segmentation: Market segmentation is the process of dividing a market into different groups of customers, in order to create different products to meet the specific needs of these

customers. Topshop may use this to realize that their aim is to get more customers in stores which are to target all types of different customers. To benefit from this they need to divde these in to groups this will allow Topshop to create better customer service and satisfaction.

They can also get to know their customers better.By segmenting groups this will identify who the main types of customers actually are, this way they will know who to specificly target. Some of the groups of segmentation that Topshop might use are geographical, demographic, psychographic and behaviouristic segmentation (also known as consumer profile). There are different reasons that business need to segment their markets carefully, this is because customers vary, so creating various segments will provide customers with better solutions. It can bring better opportunities and growth for the business.The key thing that Topshop to do is find the variable, or variables that split the market into segments.

There are two types of variables:

• Needs
• Profilers

The need for segmenting a market is customer needs. To achieve this market research is needed. Profilers are measurable, discriptive customer characteristics like; age , gender, income etc.

Geographical segmentation:

• Region of the country
• Urban or rural (location)

Demographical segmentation:

• Age, sex, family size
• Income, occupation, education
• Religion, race, nationality

Psychographic segmentation:

• Social class
• Lifestyle type
• Personality type

Behavioural segmentation:

• Product useage e. g light, medium, heavey users
• Brand loyalty: none, medium, high
• Type of user (occasionally, a lot.

(www. tutor2u. net/business/marketorientation) Buyer behaviour. An important part of the marketing process is to understand why a customer makes a purchase. The business will find it hard to respond to customers needs and wants without this understanding.

The marketing theory

divides buyer behaviour into two broard groups which are consumer buyers and industrial buyers.Consumer buyers are those who purchase items for personal use/consumtion Industrial buyers are those who purchase items on behalf of their business or organization It’s the consumer buyers that Topshop needs to target in order to maximize its marketing. As it’s for women they will need to understand what drives these target customers to buy clothes from them, keeping in mind and perception of the fashion industries and current trends.

Some of the questions that Topshop needs to be looking at are:

• Who buys?
• How do they buy?
• When do they buy?
• Where do they buy?
• Where do they buy?
• Why do they buy?

Topshop needs to know how the customers are going to respond to the different elements of the marketing mix that is going to be presented to them. This can be achieved a little by market orientation or segmentation through questionaires and surveys. Topshop need to look at the cultural shifts.

This will let them into what customers are intrested in. They need to focus on cultural shift towards fashion as it always changing. They need to get the customers feel like they have to buy the latest trends in fashion in order to stay cool and trendy and unique.They need to offer the consumers what no one else can, in terms of services and fashion. (www. tutor2u. net/business/marketorientation)

Conclusion

As the new marketing manager task that I have been assigned to, I think that FX Leisure can benefit from the recomondations that I have made by using market orientation, SWOT and PEST analysis, segmentation and buyer behavior. This will hopfully turn the leisure

complex from going in loss. This will also boost up their customer numbers and also gain them a more profitability market.

Other benefits such as growth of the business and popularity will also increase. Market Segmentation The identification of individuals or organisations with similar characteristics that have significant implications for the determination of marketing strategy. ” (Jobber, 2007)

Source

1. Blythe, 2006
2. www. tutors2u. net
3. www. marktingteacher.com
4. www. bized.co.uk
5. www. ask. co.uk
6. South Birmingham College Subject Gateways Learning zone Books:
7. Simon Majaro, (1993), The Essence Of Marketing 1st Edition, Hertfordshire
8. Dave Needham, Phil Guy, Mark Shaw, Rob Dransfield, Dave Dooley (2001), Marketing For Higher Awards, London: Heinmann