Fav Fashion Market Potential in Australia
Added on 2020-03-04
13 Pages1992 Words33 Views
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Running head: MARKETING CONSUMER BEHAVIORMarketing consumer behaviorName of the studentName of the universityAuthor note
1MARKETING CONSUMER BEHAVIORExecutive summaryThe aim of this report is to analyze the market potentiality of a newly entered fashion firmknown as Fav in the Australian market. Having analyzed the various aspects for market profiling,it had been concluded that they are having huge opportunities ahead if the strategies are beingeffectively implemented.
2MARKETING CONSUMER BEHAVIORTable of ContentsIntroduction......................................................................................................................................4Market potentiality of Fav...............................................................................................................4Potentiality of the online market......................................................................................................5Target customer segment.................................................................................................................5Target segment profiling..................................................................................................................6Conclusion.......................................................................................................................................7Reference.........................................................................................................................................8Appendix........................................................................................................................................10
3MARKETING CONSUMER BEHAVIORIntroduction Fashion industry is one of the most promising industries around the world and due to thereason of rapid globalization; it is growing at a huge pace. Currently, the domestic value of thefashion industry in Australia is 21 billion dollar. It is also been seen that the annual expenditureof the Australian customer in the fashion accessories is estimated at 28 billion dollars. Thus, itcan be stated that there is a huge opportunity in the Australian fashion market(Au.fashionunited.com 2017). The export scenario of the Australian fashion items is alsofavorable with having value more than 6 billion dollar. Fav is a new entrant in this market. Theywill introduce number of product under their brand name. The product portfolio will includefootwear, clothing and apparels. The main vision of Fav is to create a benchmark in the nichemarket in terms of the quality and innovative designs. Majority of the fashion chains cater to vastnumber of customer segments. However, Fav will cater to the particular niche market which willhelp them to maintain their exclusiveness. In the initial stage, they will start their business fromSydney and later on international business will be considered. The existing fashion marketscenario is quite competitive with having large number of competitors (Unay and Zehir 2012).Thus, this report will analyze the potentiality of Fav in the Australian market.Market potentiality of Fav As discussed earlier, the fashion market in the Australian regions is growing at a rapidpace. The fashion market is being further classified in various segments such as garments,footwear and accessories. Among all this classifications, clothing is the most promising sectorfollowed by the footwear sector. Hence, Fav will cater to these sectors covering vast customersegments. According to the latest data available, footwear constitutes the second most market
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