Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

Target Market & Market Targeting

No description
by

Chelsa Tan

on 27 January 2014

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Target Market & Market Targeting

Differentiated targeting strategy
Target customers: late teen and twenties
Appeals to students, professionals and high profile A-List stars alike

Positioning – Topshop
“Become a fashion phenomenon and is synonymous with cutting edge fashion at affordable prices”.
High street fashion brand
Positioning – Topshop

Differentiated targeting strategy
Target customers between the ages of 14-25
Youths who are willing to spend on their brand

Positioning –
Abercrombie & Fitch

“Casual Luxury” lifestyle brand
Representative look of its trademark: Topless male models
Positioning –
Abercrombie & Fitch
Positioning –
Urban Outfitters
Differentiated targeting strategy
Targets customers: ages of 18 and 30
Carries different brands (Free People) that caters to different groups of customers

Emphasizes on creativity
Aims to create a unified environment in their stores
Establishing an emotional bond with the customer

Positioning –
Urban Outfitters

Definition:

Positioning is the way in which the market perceives an organization, products and its
brands in relation to its competitors.

Positioning
The potential product comprises all possibilities that could become part of the expected or augmented product.

Potential Product

The expected product describes those attributes that actually deliver the benefit that forms the core product.

Expected Product

The core product comprises of the fundamental benefit that responds to the customer’s problem of an unsatisfied need or want.

CORE PRODUCT

Product Life Cycle

The product delivers a bundle of benefits that the buyer may not require as part of the basic fulfilments of their needs.

Augmented Product

A product is a good, service or idea offered to the market for exchange.

Total product concept

Personal selling refers to personal communication effort that seek to persuade consumers to buy products

Personal Selling
Sales promotion offer extra value to resellers, salespeople and consumers in a bid to increase sales

Sales Promotion
Public Relations
Advertising is the transmission of paid messages about an organization, brand or product to a mass audience.

Advertising

Definition:

Communications in marketing can be described as all the messages and media deployed to communicate with the market.

Communication

Positioning Approaches & Statement
Target Market & Marketing Strategy
Positioning Approaches & Statement
Target Market & Marketing Strategy
Positioning Approaches & Statement
Target Market & Marketing Strategy
Perceptual Map
Brand equity refers to the added value that a brand gives their product.


Branding-
brand equity

A brand is a collection of symbols such as name, slogan and design intended to create an image in the customer’s mind that differentiates a product from the competitor’s product.


Branding

Brand image is the set of beliefs that a consumer has regarding a particular brand. It is often affected by past experiences or word-of-mouth, which can substantially influence whether consumers would be willing to buy the product or not

Branding- brand image

URBAN OUTFITTERS

ABERCROMBIE AND FITCH

Perceived brand quality is defined as the customer's perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives.


Branding- Perceived brand quality

Group influences comprising of social (the influence of other people) and cultural factors (the influences of values, beliefs and customers) also affect people’s purchasing decisions.

Group influences

Motivation
Perception
Beliefs and attitudes
Learning

Individual influences- Psychological

DEMOGRAPHIC
LIFESTYLE
PERSONALITY AND SELF CONCEPT

Individual influences- Personal

Consumer decision making process

PSYCHOLOGICAL

PERSONAL




REALATE TO:

Consumer behavior- Influences

LIMITED PROBLEM SOLVING

EXTENDED DECISION MAKING

Consumer behavior

Consumer behaviour is the term used to describe the analysis of the behaviour of individuals and households who buy goods and services for personal consumption.



DECISION MAKING CONTINUUM

Urban Outfitters
Websites, Catalogues, Social Media
Abercrombie & Fitch
Sex appeal to sell its product
Through catalogues, print advertisements and in-store display
Topshop
Topshop Unique Spring/Summer London Fashion Week show
InsideOutTopshop (blog)
Urban Outfitters
Laid back Campaigns to identify with consumers
Abercrombie & Fitch
Philanthropic and humanitarian projects
ie. AnF Cares
Public relations refers to communications aimed at creating and maintaining relationships between the marketing organization and its stakeholders

Topshop
Partnership with Indian-based Women’s Interlink Foundation’s Key to Freedom project
Fashion Targets Breast Cancer
Urban Outfitters
Direct-to-Consumer channel
Special sales on websites
Mailing List special
Topshop
"Unidays" special
Promotion card
Sales for special dates/events
Abercrombie & Fitch
Maintained its high prices, even in the face of plummeting sales
Abercrombie & Fitch
Models in store to welcome customers
Urban Outfitters
UOonYou (Urban Outfitters on You) Instagram page
Topshop
Personal shopper
Collaborations with Celebrities (ie. Kate Moss)
Urban outfitters age 18 to 30
TopShop ages 15 to 30
Abercrombie and Fitch age 7 to 22
Cater to a highly specific stratum
Makeover services & collaborations with renown designers
Evolution towards trend and fashion
Urban outfitters

Affordable clothing
Average to high quality
Huge variety of lifetyle specific clothings
TOPSHOP
Fashionable and statement pieces
Up-to-the minute fashion fix
Average to high quality
Abercrombie&Fitch
Luxury casual American lifestyle wear
High quality
Urban outfitters
Integrates music, fashion, art, architecture, design and technology.
TOPSHOP
Receptive and transparent to customers feedback.
Provide a substitute to high end clothing at affordable prices

Timeless and high end fashion
Fancy and iconic flagship stores all around the world

Abercrombie&Fitch
Abercrombie&Fitch
"We go after the cool kids. We go after the attractive, all-American kid with a great attitude and a lot of friends. A lot of people don't belong [in our clothes], and they can't belong. Are we exclusionary? Absolutely."
TOPSHOP
Urban Outfitters
Urban Outfitters completely rebrands itself every six month. Everything is refreshed, from logo, to bags, to point of sale to the store environment
Iconic brands with global appeal
Poor public relations
Fashionable yet affordable clothing
Not reputable for the quality of their clothing
A&F
TOPSHOP
UrbanOutfitters
Huge variety of clothes
Insensitivity on issues
resulting in poor brand
image.
TOPSHOP
Habitual decision making
Individual factors influence the consumer’s behaviour and operate independently of social circumstances.
TOPSHOP
Abercrombie&Fitch
Maslow's hierarchy of needs: self-actualisation
Focuses on consumers' perception on their product.

Relies heavily on public's perception on their brand
Successfully portrayed a strong brand image eg. charity
UrbanOutfitters
Learning: Behaviourial learning theories which focus on the role of experience
Try to incorporate their clothes in the everyday lifes of consumers.
Physiological needs.
ALL3BRANDS
Demographics: Teens & young adults
LIFESTYLE
Abercrombie&Fitch: Rich
UrbanOutfitters: Lifestyle crowd
Topshop: Stylish

Situational influences are the circumstances a consumer finds themself in when making purchasing decisions.
Situational Influences
FASHION LABELS

FASHION LABELS
Topshop

British multinational retailer which specializes in fashion clothing, shoes, make-up and accessories
Women and children
440 shops
High street brand
Topshop

Collaborations with fashion icons
Subset of the Arcadia Group, which owns a number of other retail outlets including Burton, Dorothy Perkins and Miss Selfridge
Founded in 1964
Owns 75% of Topshop

American retailer which focuses on casual wear for consumers aged 18 to 22.
Over 300 stores in the United States
3 offshoot brands: Abercrombie kids, Hollister Co., and Gilly Hicks
Main competitors are Aeropostale and American Eager outfitters

Abercrombie & Fitch
Abercrombie & Fitch

The original A&F was founded in 1892 in Manhattan
Company filed for bankruptcy and closed it Manhattan store. The name was revived again in 1978 and relaunched as a retailed specializing in hunting wear and novelty items
In 1988, the company was sold and revamped with a retailing niche as an aspirational “casual luxury” lifestyle brand.


Urban Outfitters

American brand
Urban Outfitters Inc which owns other brands (Anthropologie, Free People, Terrain and BHLDN)
Clothing, footwear, accessories and house wares
Sexy, hip, stylish and bizarre

Urban Outfitters

Known for catering to the ‘hipster’ culture and fashion
The target customers are aged 18 to 30 years old.
Urban outfitters was founded in 1970 in Philadelphia, USA and currently has about 401 stores internationally.
Product line has evolved from vintage, bohemian, retro, hipster, ironically humorous, kitchy apparel and furniture to include luxury brands and several designer collaborations.



Recommendations

Urban Outfitters is concluded to be the brand that requires the most improvement in general performance
Product offering
Branding
Positioning
Communication
Consumer behavior

Product Offering

Profits are not rising by substantial amounts as compared to Topshop and A inability to retain customers’ loyalty
can increase customer loyalty
use of loyalty cards which Topshop has to attract customers to go back to buy their clothes as they can accumulate points that are redeemable
provide a personal shopper for customers
Increase the quality of its clothes to justify for its price

Urban outfitters does not have collaborations with celebrities and designer
Collaborate with celebrities and designer so that consumers will immediately think of the brand when the celebrity or designer is featured

Branding



Invest in more advertising on mass media so that more people will know about the brand

Design and specialize in one style which is more outstanding than the other style that
Decide which style to specialize in by having surveys and monitoring which type of clothes has the most sales. From there, they can then decide which style is most popular among its consumers.


Positioning

Communication

Urban Outfitters relies heavily on social media and has the ‘free people me’ loyalty program which allows its customers post up pictures of themselves decked in Urban Outfitters outfit

hold social events to reach out to its consumer. They can hold events in popular night clubs where they can show case their product line by having models strut down the runway in their clothes


Consumer behavior

Create better environment for its patrons

5 senses technique. Similar to Abercrombie and Fitch, using scents and music to “excite” consumer
staff of the month award of incentives could help the staff to strive for excellence
merchandising team of Urban Outfitters have to keep up with current news so as to not purchase clothes that might spark another controversy
Sensitivity and culture differences have to be take in consideration for different country or even different states.

Full transcript