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What Is L & K's Target Market

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The target market segment of young women is a part of a demographic of young adults (18-29) of whom 90% use social media. Thus, L&K will have to develop an excellent social media and presence to maximize their potential impact on their target market segment. As well, higher income and higher educated household are more likely to use social media – another group L&K would like to target. Additionally, the first outlet store of L&K in Stillwater, Oklahoma can take advantage of the social media known as Pocket Points, which is a unique resource available to the students of Oklahoma State University. This tool allows students to collect points by locking their phones while they are on campus. Students can then redeem the points they collect …show more content…

L&K will need to compete on the basis of quality and justify its higher price to customers. We will do this by providing superior customer service to the women who visit our store and by providing services which are entirely lacking in large department stores. Our fashion consultation services will be one of the two services which will set our store apart from our competition. These services exist for men in department stores such as Men’s Warehouse, but are entirely lacking for women searching for professional wear. L&K will appeal to our customer basis by training our staff in the latest professional fashion trends, general fashion principles, and in superior customer care. Additionally, we can compete with larger department stores through the competitively priced tailoring services we will provide for our customers for any suit they purchase through L&K for the lifetime of the suit. Large department stores do not offer this service, complimentary or not, for professional suits purchased by their customers. Often, the suits women buy at these stores do need to be tailored to fit the specific body type of the woman. However, tailoring services are expensive to utilize and difficult to find a qualified individual to perform that tailoring. The need to tailor a suit increases the real price of purchasing a suit from a department store, even though the initial price

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