Birkenhead Outlet Essay

The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

Country Road had now become a major retailer, creating a one stop shop for your entire home and clothing fashion needs, a mini department store that dominated the retail sector and offered a “quintessential Australian” style (Country Road 2009).

As two separate companies, they have established a different approach towards the market, however with the right research and evaluation, Rousteing and The Bay have beautifully managed to make both sides collide with success. They have managed to design ready-to-wear for different target groups, for example, women’s outerwear shoes, men’s business attire, jewellery, as well as the latest Balmain Army collection inspired by Rousteing himself. They have made the price range of the products in the listed categories reasonable and affordable for premium quality clothing, accessories and footwear for both genders that are quality and price conscious. Also, in Toronto and Vancouver, The Bay has launched a showroom called “The Room” that features some of Balmain’s hottest but not-so-retail-friendly designer clothing from Rousteing’s runway collection. With the stratospheric prices, these items are obviously in display for the more sophisticated young female adults that completely disregard the price tag when they see something they genuinely adore. However, this was also an intelligent way for Rousteing and The Bay to promote their collection by giving the people of middle-class families to feel and take a closer glimpse of some high-quality handiwork. This makes the women of the demographic target market want to know what else Balmain has in store at The Bay, that is of similar quality, but with a more affordable

Concepts of marketing- marketing= a social and managerial process by which individual and groups obtain what they need and want through creating and exchanging products and value with others.

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

Almost all of the shops there are a type which only wealthy people would go to and this is because the region is full of wealthy people. The shops take advantage of this along with the fact the people are willing to spend a lot because the other shops are a longer distance away. This is why the shops charge, total of all items surveyed, $2101, almost double South Melbourne’s prices being $1287.2. South Melbourne is aiming to cater for a more working class group of people but still quite wealthy meaning they can put in some beauty and expensive stores such as Elmas Jewelers, Eyelash Extension Specialist and Choices Café. Footscray however only cost a total of all items surveyed, $328.3. This is because every store there is for functionality and essentials rather than luxurious stores like Toorak and South Melbourne. Most shops here sell foods or cheep gifts, like $2

Some of the best shopping in Melbourne is in the Docklands. Instead of fighting the crowds in the CBD of Melbourne, discover the wholesale prices and fashionable brands in this less hectic shopping area.

Marketing Concept The marketing concept can be defined as the idea that an organization should strive to satisfy the needs of customers, while also trying to achieve the organization’s goals.1 The marketing concept is about matching a company 's capabilities with customer wants. This matching process takes place in what is called the marketing environment. Businesses have to take into account their competitors, as well as changes in the political, economic, social and technological environment. The before mentioned factors must be taken into account as an organization tries to match its capabilities with the needs and wants of its target customers. An organization that adopts the

Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.

John Lewis is situated in Westfield shopping centre located in Stratford City. The departmental store basically showcases greatest and latest products in context of electronics, beauty, home and fashion. John Lewis has tried to incorporate best ideas in order to create a memorable and pleasurable shopping experience for customers. The brand has even included personal services and delicious foods for all its customers. Special events are even hosted at this departmental store. There are knowledgeable and helpful partners at John Lewis who ensures that customers leave the premises with products aligned with their needs. John Lewis fashion department can be considered as a store within a departmental store. This is a new approach

The uniqueness of the demographics of BCBG is that the boutiques are only in large cities, which gives the best business because of the large number of people in the areas. As for psychographics of the company, the goal is to provide attire that can be worn straight from work to a night on the town. The target market, being young professional women, can appreciate the designer price zone, because even though they are professional at work, they also enjoy the nightlife and make enough money to maintain their splurges and bills. For this they need versatile, high fashion garments at prices that won't spoil their income. They have a great mix that they market and manage very well.

Production Concept: The production concept is the process of making and distributing the products to the business outlets. Some businesses only focus on its production process rather than the distribution process. The whole production concept consists of quality control of the product, testing and measurement of the product.

Production concept assumes that customers will want to buy products or services that are easily available and affordable. Hence, management would focus more on production efficiency and distribution of the product. This concept is useful when the demand of a product is higher than its supply. Coca-cola is one of the successful examples of companies that adopt production concept. The company makes Coca-cola can be purchased almost everywhere in a country, either urban area or rural area.

In the marketing world, before releasing a product onto the market a company would carry out research in all spectrums to investigate the targeted audience. Once market research is completed, marketing or advertising is carried out so that the targeted consumers can purchase and the company receives an earned profit from sales. Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing, 2009). Marketing strategies need to tick off consumer needs and demand. Companies follow a set of marketing strategies to be able to achieve their set mission goals. Strategies like segmentation, targeting and positioning of the market is used to analyse the