Marketing a business Essay
1. Explain why Sears or Wal-Mart cannot effectively create a trendy counterculture image. Sears or Wal-Mart, unlike Urban Outfitters cannot create a trendy counterculture image as there lays a difference in the approaches of both these retailers. Sears and Wal-Mart are mega retailers as they are widely known public corporations running chain of department stores across different countries throughout the world. The product range available at these stores includes apparels, grocery, electronics, toys, jeweler, hardware, home furnishings, automotives and many more.
This shows that they target mass market and the segments they cover include wide range of demographics including customers of different age brackets, income group, sex, occupation and all levels of demographics and psychographics. As they are of such a large scale and cover many different product mixes therefore apparel is not their main product line. The kind of apparels available at Sears and Wal-Mart are in alignment with the fashion, is more conventional and targeted at masses. Wal-Mart and Sears are discount stores and are famous for bulk buying henceforth showing that the prices there are less.
They have a huge target market to cover. Contrary to that, Urban Outfitters go for unique niche marketing, focusing their efforts on customers
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The corporate identity of Wal-Mart and Sears isn’t even counterculture as they even censor CDs and DVDs before selling and keep books that are conforming to clean reading standards. All of these factors contribute that why Sears or Wal-Mart cannot create a trendy counterculture image (Fast Company, 2010). 2. Could the big box stores sell merchandise identical to Urban Outfitters? Explain your answer. The big box stores such as Wal-Mart do sell merchandise of famous apparel brands for example Levi’s Strauss Signature is being sold at Wal-Mart.
So the first question that whether or not Urban Outfitters can channel their merchandise through Wal-Mart can be easily answered as yes. The main question however is that how that would be done and whether or not it would be successful. Discussed in the above question is the fact that how contrary the marketing approaches and identities of both Wal-Mart and Urban Outfitters are. Urban Outfitters go for niche marketing to offer exceptional and valuable apparels to its targeted customer and they have fashion hunters who look out for current trends in fashion so as to fill up every store with original trendy items.
They have diverse locations and interiors for each of their stores so as to provide authenticity for the target customer. They provide fresh shopping incident to customers as well through their exclusive and limited stock whereas Wal-Mart items are more straight and targeted at masses. They have a huge market to cover as they target mass market. Therefore, apparel is not their main product line. This implies that big box stores can also sell the same commodities as of Urban Outfitters, but the setback lies in the different ways and approaches for marketing between the stores and the Urban Outfitters.
The big box stores may not be that victorious as compared to Urban Outfitters but no doubt they can sell the identical merchandises at average profits (Brunner, 2009). 3. Identify at least three reasons why exclusivity is valuable. Urban Outfitters values niche marketing to create a sense of differentiation among the customers by understanding the psyche of each and every customer. For this, being small and exclusive is very essential which is not an effortless job to do but it reaps out many benefits.
The motive behind being exclusive is to position an image of differentiation in the mind of customers because customers are always agreeable to pay for the exceptionality. When wide array of stock will be kept in moderately small capacity across every division of shop, the customers will be self-assured that the items they are going to procure will not quickly become familiar or ordinary. By being exclusive and limited in terms of quantity, customer will be confident that the items of this store are precious and distinctive.
Secondly, by stocking small quantities of products, customers will be at ease for finding the product of their choice which will be valuable and unique as well. To keep this sense of having found something precious and unusual alive, exclusivity is immensely essential because the worth of any good is unswervingly allied with the experience of searching that particular good. Therefore, the exclusivity leads to spanking new shopping experience. If the shopping experience will be pleasant enough then the customers will be inclined towards to have more experience (Heller, 2006).
The third cause in the wake of praising exclusivity is that it creates demand and popularity in the market. By being exclusive, the retailer projects an image of being significant and outstanding in the market among all the retailers because it stocks limited number of items but precious and unique ones. This is why it is always quoted that precious things are always few. This exactly trigger the concept of the Senk`s comment that `scarcity creates demand` (Saranow, 2008). 4. Senk says that shopping is largely entertainment.
Do you agree or disagree with him? Explain your answer. The attitudes on this issue may differ from person to person. However, research has found out that for women, shopping is a full fledge entertainment package while men find it cumbersome to shop, even for their own apparels. This is the reason why Urban Outfitters is selling its merchandise primarily to women rather than men- 80% 20% respectively. I definitely agree with Senk`s words because mostly people desire to shop when they want some change or diversion in their life.
This shows that shopping is now considered as favorite pastime social interaction for people. Apart from this, it crafts a feeling of contentment when I locate something I actually like and being proficient to obtain it, such as the unique and precious items varying from apparels to accessories, cooking utensils to interiors, cell phones to computers etc. Women yearn for social networking and diversity in their life and for this, what could be the better option than going on shopping along with all the friends and social group. Shopping is said to be spare time as well as diversion activity.
Many a times when people don’t have anything better to do after work and the things at home become intolerable, they just roam around the stores for hours to have a change in their tiresome routine life or perhaps they want to map a later purchase. It also appears under the head of `entertainment`, achieved through window shopping. For many people shopping is a task of nuisance and aggravation. They are found to be waiting in long-drawn-out lines to have their exclusive trendy products because of being brand conscious they don’t want to buy from other stores, no matter how much they hate shopping.
Usually people plan for shopping close to holidays, any festivals or weekends, or during Christmas season because people enjoy shopping more during such seasons than in normal days. References Brunner, H. (June 16, 2009). Urban Outfitters features top reviewers in email campaigns. BazaarBlog. Retrieved 11th August, 2010 from http://www. bazaarvoice. com/blog/2009/06/16/urban-outfitters-features-top-reviewers-in-email-campaign/ Fast company. (2010). Melinda Davis and Glen Senk: Do you offer your customers what they really want?
Retrieved 11th August, 2010, from http://www. fastcompany. com/events/realtime/miami/blog/davissenk. html Heller, R. (2006). Marketing: An essential ingredient for a winning formula. Thinking Managers. Retrieved 11th August, 2010, from http://www. thinkingmanagers. com/management/marketing. php Saranow, J. (August 27, 2008). Urban Outfitters fashion growth. The Wall Street Journal. Retrieved 11th August, 2010, from http://online. wsj. com/article/NA_WSJ_PUB:SB121979769964874989. html