Company research for a new male fashion label Essay
I am the latest addition into the fashion world. My company’s name is “Vondouche”. My main area of interest is in the male fashion industry, which up until now the following companies have had the main foothold in this industry. These major stores are responsible for the entire fashion of the British male. These stores are mainly popular with males in the UK due to their quality of goods as well as their prices, which tend to be reasonable in terms of male clothing. Competition among this group for the past years have been intense with Topman in the lead having made more sales than any of the others.
My aim is to study these various companies and their different methods of promotion and counter it with marketing strategies of my own. Without actually beginning my research I have noticed an advantage, which I already have over most of these other companies. This is the fact that most of them also deal in female clothing lines as well as men’s- all except Burtons but there are still under the company that controls the topshop/topman range of clothing (arcadia). I believe that by concentrating on only the male side of the fashion
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Task 2- Market Research As stated in my introduction my aim is to create ideal pair or pairs of jeans for the male population. To do this I would have to first gather information as to what the public would like or prefer. This information will have to be gathered through research, primary and secondary. For my primary research I will be making use of a questionnaire as well as through interviews with focus groups. Focus groups-this is a cheap way of getting useful information from consumers. Here a group of people are invited to provide opinions on particular products.
They are very good at testing consumer reactions to product proposals and development. A questionnaire would give me some insight into the type of product the customers would require, the places they were willing to get them for, the price, and the type of promotions that might draw a consumer’s attention to a particular product. Below is the actual questionnaire that was handed out to a 100 people in the middle of a shopping centre in London. My secondary research will inform me as to what type of product is available on the market and what particular types of that product are doing well and making profits for their companies.
This information would be gathered from sources that are already available to me Primary research Questionnaire This questionnaire looks in to the four Ps’ related to jeans as a product. The results from this should give me a rough idea of how my jeans should be produced to meet customer requirements. In the cases of some rival companies like topman /topshop they offer consumers a choice of an insurance policy, if they open up an account with their company. Once the account has been opened they pay a certain amount every month. This amount covers them for damages to any items bought within a certain period of time.
I believe adopting a similar process might draw people to shop with my company and buy more of our products thereby increasing our market share. This is the aim of this question in the questionnaire. After question 6 the questionnaire explores what would be the ideal place to sell the products and the distances the consumers are willing to travel to acquire them. Here 100% of people said yes to buying jeans straight of the shelf as soon as they see them and find their right size, if they are attracted to them. This question was used to find out if presentation in stores was a key factor to a persons buying of a product.
It turns out that it is. After the questionnaire information had been collected and analysed the company carried out interview with 20 different individuals from different age groups and works of life. This was to determine what type of age groups the company should be targeting and with what particular style range should they be targeted. Research (Interview) through focus groups For the focus group we selected three different designs we were able to create from the questionnaire results that we thought might appeal to the different age groups.
This research method has been very useful in deciding what types of jeans would be ideal for what kind of age group. From the results analysed I am able to say that I can create jeans according to the tastes of the different age groups and no how to target who with what product during advertisements and promotions. In the case of the elderly I will not be creating any styles of designs to suit their age group, as they are not interested in “such things”. So I will be designing a prototype pair of jeans each for only 1of the three age groups the teenage, young adult and middle-aged groups.
To the left is a sample from the Burtons web site. This a sample as to what type of jeans the company has got in stock at the moment. Taking a closer look I can see that these samples are quite similar to what I have designed and what the focus groups (apart fro the elderly) chose. These two jeans are the present styles the company is creating for its consumers. For my primary research I know that the faded plain, jeans without the cuts are more desired by the majority of the public with a small percentage
of teenagers and young adults slightly interested in the other pair. No surprise then that the later pair is among the best sellers of the company. Looking at other website I have noticed the same pattern of designs. my results from both my questionnaire and my focus groups both tell me that creating a wider range of designs in the format of the plain pair of jeans would me a bigger profit margin IF the product is well advertised and assessable the individuals on the market. Advertising methods of a similar company (Burtons)
The site below belongs to burtons, one of the companies mentioned above which I would be rivalling with the creation of my line of jeans in the future. For their method of advertising they have used a factor favoured by most consumers, which is having other people wear the product, in this case, celebrities. This is a method adopted by other companies’ similar to this one. If I am to succeed in selling my new lines of products this is one of the method of advertising I will have to employ.