Table of Contents
P1 Explaining the characteristics of target markets of Primark and Burberry.
Characteristics of the target market of Primark and Burberry.
P2 Explaining the policies adopted by Primark and JD Sports.
Retail policies of Primark.
P3 Describing the factors that influence the fashion trend.
P4 – Impact of different fashion trends on retail services.
P5 Explaining the image of Primark and the way it meets the needs of its target market
P6 Explaining three differences between fashion retailers catering for a mass market and those catering for a niche market
In this fast-moving and rapidly changing fashion retail market, it is important for brands and retailers to keep their fingers on the pulse to stay fully relevant. In the future, social media and street fashion will take on even more important as new technology will make it possible to photograph any item of clothing, identify it and then buy it. Retailers need to find new ways of engaging with customers in a way that benefits them across three broad themes: information, convenience and entertainment (Smulders, 2015). This paper outlines several factors related to fashion retailing in the UK based on two particular organizations, named Primark and Burberry. Primark is one of the famous clothing retailers in the UK. The company positions itself as the store of fashionable clothing at cutthroat prices. Primark has implemented mass marketing strategies successfully in their business to gain sustainability and competitive advantages. Burberry is also a leading clothing company that positions itself in the market with high quality and fashionable clothing and accessories through retail stores. It has implemented niche marketing to gain sustainable competitive advantages.
P1 Explaining the characteristics of target markets of Primark and Burberry
Retailing refers to a process where the retailer sells the goods directly to the end-user for his own consumption in small quantities. The key retail outlets are outlined as follows:
Department Stores: A department store is a set-up that offers a wide range of products to the end-users under one roof. In a department store, the consumers can get almost all the products they aspire to shop at in one place only. Department stores provide a wide range of options to the consumers and thus fulfill all their shopping needs. They sell Electronic Appliances, apparel, Jewelry, Toiletries, Cosmetics, Footwear, Sportswear, Toys, Books, CDs, DVDs. Example of this category is Shoppers Stop, Pantaloon
Discount Stores: Discount stores also offer a huge range of products to the end-users but at a discounted rate. The discount stores generally offer a limited range and the quality in certain cases might be a little inferior as compared to the department stores. Tesco currently operates more than 100 discount stores in the UK.
Supermarket: A retail store which generally sells food products and household items, properly placed and arranged in specific departments is called a supermarket. A supermarket is an advanced form of the small grocery store and caters to the household needs of the consumer. The various food products (meat, vegetables, dairy products, juices etc) are all properly displayed at their respective departments to catch the attention of the customers and for them to pick any merchandise depending on their choice and need. The key supper market in the UK is Tesco, Sainsbury’s, ASDA and Morrison.
Warehouse Stores: A retail format that sells limited stock in bulk at a discounted rate is called a warehouse store. Warehouse stores do not bother much about the interiors of the store and the products are not properly displayed.
Mom and Pop Store: Mom and Pop stores are small stores run by individuals in the nearby locality to cater to the daily needs of the consumers staying in the vicinity. They offer selected items and are not at all organized. The size of the store would not be very big and depends on the land available to the owner. They wouldn’t offer high-end products. They sell Eggs, Bread, Stationery, Toys, Cigarettes, Cereals, Pulses, Medicines
Specialty Stores: As the name suggests, a Speciality store would specialize in a particular product and would not sell anything else apart from the specific range. Specialty stores sell only selective items of one particular brand to the consumers and primarily focus on high customer satisfaction. Example -You will find only Reebok merchandise at the Reebok store and nothing else, thus making it a specialty store. You can never find Adidas shoes at a Reebok outlet.
Malls: Many retail stores operating at one place from a mall. A mall would consist of several retail outlets each selling their own merchandise but at a common platform.
Online: Nowadays the customers have the option of shopping while sitting at their homes. They can place their order through internet, pay with the help of debit or credit cards and the products are delivered at their homes only. However, there are chances that the products ordered might not reach the same condition as they were ordered. This kind of shopping is convenient for those who have a hectic schedule and are reluctant to go to retail outlets. In this kind of shopping; the transportation charges are borne by the consumer itself.
Characteristics of the target market of Primark and Burberry
Primark is one of the famous clothing retailers in the UK. The company positions itself as the store of fashionable clothing at cutthroat prices. The effective business plans and marketing strategies have given huge success with improved profits, market share and customer loyalty, which have led Primark to extend and emerge its business in more local and regional areas such as in different business centers. The strategies of Primark are sourcing supply, making clothes with very sample fabrics and designs, target fashion-conscious young under 35 years old, offering simple but high-quality clothes. In a word, Primark has gained success in its mass marketing strategy, which has brought significant changes in its business. In a word, Primark’s target markets are different ranges of customers as it sells a variety of products (Primark Annual Report, 2014)…………………..