Thursday 19 November 2015

Retail Analysis

Now we have our three trends fur, camel and long line we need to look in store and online to see which retailers are offering these trends at all the retail levels – value, mass, middle, high.

We then looked at how the 7Ps of the marketing mix are being employed for each example and level of retail? -

1.    Productwhat? What is it? Details/ materials etc. Note down details of each product if you do notice variances in style, material etc. Consider who the target customer is for each example you find; the examples might be the same price but are aimed at different customers and could be designed in different ways.
2.    Placewhere? In-store and on-line. Is it just on the rails or has it been featured on mannequins or in the window? Where is the store in the city or town? Does this reflect its market level? What does its location add to the product?
3.    Pricehow much does it cost? Look for examples from as wide a range of prices as possible. How does the price affect the experience/ the product/ the promotion/ the packaging?? etc etc.
4.    Promotionhow is the product promoted? In-store and on-line? What is the language used? Is it featured in promotional imagery or offers? Observe and photograph how the product is being sold and who this is appealing to. So, is it part of an over-arching trend ‘story’? how is it displayed in the store? What other products is it paired with? (either physically in the store or as part of an outfit with other garments and accessories)
5.    People who? Customer service, employees, points of contact. Who does the customer see/ interact with? Who else is in the store?
6.    Process how does the customer acquire the product? What is the ‘journey’?  What is the sales process? On-line and in-store. How does the customer locate, try and buy the product?

7.    Physical evidence -  packaging, publicity, physical forms of communication and branding.



Here is an example slide from our presentation. 

Now we have seen what is popular in stores its time to see what the consumer is buying and wearing on the streets. 
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