FU001425 Principles Of Fashion Marketing
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Principles Of Fashion Marketing (FU001425)
Added on 2020-04-21
FU001425 Principles Of Fashion Marketing
Principles Of Fashion Marketing (FU001425)
Added on 2020-04-21
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Running head: FASHION MARKETINGFashion MarketingName of the Student:Name of the University:Author’s Note:
Table of ContentsIntroduction......................................................................................................................................2Background of the organization.......................................................................................................2Market Environment Analysis.........................................................................................................3Consumer Analysis..........................................................................................................................7Competitor Analysis........................................................................................................................9Marketing Mix...............................................................................................................................11Conclusion.....................................................................................................................................14References......................................................................................................................................15
IntroductionMarketing is the key to attract the target customers successfully by creating a uniqueimage in the eye of the customers. The sales of the fashion industry greatly rely on how thebusiness organizations market their product and distinguish them from the potential competitorsin the market. Therefore, it is essential for the business organizations in the fashion industry to beaware of their strength and weakness along with having a deep understanding of the competitorsand their business strategy.This report highlights the market environment analysis of high-street fashion, Top shopalong with consumer analysis, competitor analysis and the 7 Ps of the marketing mix. Background of the organizationTopshop is a British multinational fashion retailer that includes clothing, makeup,accessories, and shoes. The company has more than 500 stores around the world out of whichapproximately 300 stores are present in the UK. The company also operates online thereby,providing convenience shopping for the target customers. The company was established in 1960in Oxford Street, London that later gained worldwide recognition due to the fashionable productsand accessories. The company majorly deals with women clothing and accessories that arehighly appreciated by the women. The products of the company are highly priced thereby,limiting the target customers on their income. The company sells products from various well-known designers such as Jourdan Dunn, Clements Ribeiro, Trsitan Webber and Tracey Boyd.The clothing and accessories of the company have been featured in the various fashion weekssuch as London Fashion Week. The company operates on franchise business venture and
operates across 37 countries through online operations. However, in 2012 around 25% stake wassold to a US-based private equity group named Leonard Green and Partners with the aim ofspeeding up international business expansion in the US (Topshop.com, 2017). Market Environment AnalysisSWOT Analysis of TopshopStrengthExpansive number of stores globallyVery involved with young people andyoung designTall and petite sectionsSupports lots of charities Associated with top class celebritiesand designersWeaknessLimited size range from 6-16 onlyLimited television and videoadvertisement that needs improvementLarge number of stores in OxfordStreet, LondonSome of the features are only availablein the outlet of Oxford Street, LondonOpportunitiesTo carter more for different bodyshapes, that is, pair shape or appleshapePersonalized gifts availableClothing for pets and children availableOxford Street store features should bemade available to other storesOpportunities to involve freshgraduates and promote new designersThreatsTop competitors such as River Island,Zara and Urban OutfittersPresence of cheaper stores around suchas Primark, New Look, and H & MLow brand awareness in the US incomparison to Zara and H & MHandmade merchandise is on trendStrength: The brand is associated with a number of top celebrities and designers such as LouiseGrey and Emma Cook that helps in setting and launching new trends thereby, attracting thetarget customers. The brand has several stores on a global platform with clothing range for bothtall and petite customers. The brand also supports many charities that have helped in gainingglobal recognition and making a mark in the eye of the customers (Sevkli et al. 2012).
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