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Essay on the study of influence
Essay on the study of influence
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Since Topshop opened in 1964, we identified our brand as the “young and different” generation so Topshop’s target market as always been consumers around the ages of 18-35. In five years, the millennials will start to reach their 40’s and we have a decision to make whether we stick grow with the millennials, the customers we started the line with, or do we move onto generation Z. The is a decision that will affect the whole company, not just the Green line. You can’t have the Green line grown with the millennials while the rest of the store is catering to generation Z. In year 5, we will start the process of bringing generation Z consumers. This generation is completely deferent from the Millennials so it will be a challenge to cater both …show more content…
You have to figure out what their needs are right now so you can prepare for the stores future. This generation was born into technology and it is very important to them. In order to draw them into the store, you have to figure out how to make their instore experience interactive and technologically advanced or else we’ll miss the market. Based off numerous studies, Gen Z cares about participation and engagement when it comes to building relationships with brands and followed by that, they value quality over quantity. Buyer Power: Moderate • Generation Z is even larger than Millennials. Topshop and Topshop Green will have to come up with new and interactive ways to get Gen Z to come into the store but, fortunately, 67% of Gen Z would rather shop in stores. Millennials are very much into the shopping experience so making the store more interactive and technology advanced will be a good way to keep the Millennials but also bringing in Gen Z. Supplier Power: Low/Moderate • When shopping 47% of Gen Z said that the most important thing is to be able to find the products that they are looking for quickly. This is where the store layout will have to change, the store will have to have products clearly marked and sectioned off into very specific
Since both authors can relate to both age groups, they have written this article to describe the reasons behind Gen Y’s characteristics and allow older generations a chance to understand their younger counterparts. The article is written not towards Gen Y but instead is written for their critics. Since the article allows readers inside the lives of Gen Y members, it is directed at people who do not already understand this generation and all it has to offer to the world. The authors’ knowledge of the criticisms that Gen Y faces allows them to portray their purpose to intended audiences. They do all of this while remaining mindful of older generations that work full time and live busy lives by breaking the article up with headings and subheadings that allow readers to read only sections at a
Nordstrom can continue providing their exceptional online experience and client focused approach using their online system by offering an unmatched online experience that copies their in-store customer service. This would allow Nordstrom to raise its revenue considerably as well as further improving their brand image. I will also discuss specific ways of successful execution, and the steps required to provide Nordstrom a stunning picture of how to execute strategy.
This past month I made my last visit to the popular teenage/college student retail store Abercrombie and Fitch. Finishing up some back to school shopping, I was on a quest for jeans, and I knew the place to get them. My last two favorite pairs were from Abercrombie and Fitch, and I was planning on buying the same kind once again. Happy and relieved that I would not spend the afternoon ransacking the mall for one pair of jeans, I entered the store to the pulsating beat of techno dance music. In front of me was the teenage Mecca of what is truly hip -- the first thing I noticed were the life-size pictured that covered the walls -- half-clad muscular and glistening young men, frolicking around with pouty faced but beautiful young women who were wearing either size 2 short shorts with bikini tops or 3 layered sweaters. The tables were covered with overpriced shorts, shirts, and sweaters, strewn about by desperate customers searching for the perfect outfit. The sales people who roamed the floors were definitions of cool themselves -- ranging from age 16-22, they modeled their employee discounts in a haughty way which encouraged the customers to strive for their ultra-hip look. And strive the customers did. What was the most noticeable upon entering the store (besides the blaringly loud music which made me wonder if I was at a clothing store or a dance club) were the herds of desperate young men and women, who seemed to range from age 12-25, strutting around the store and searching for anything that had the name A&F on it. I can only imaging how many nights of baby-sitting it would take some of these eager teenagers to buy one sweater. The young custome...
The branding Ms. Klein wrote about only appears to work because the idea of “choice” as defined by the brick-and-mortar retailers is an illusion. Anyone entering a department store or mall understands this quiet truth. There are many styles to choose from, it seems, b...
Most millennials are hard workers and also smart, being the generation of technology we utilize what we have because it has works for us in multiple occasions. We also are the only generation that is better at switching from task to task, it’s not hard for us to move forward because of our great work ethics, and our ability to work with new and advanced technology. The type of experience that the Y generation has will affects how our lives will continue to be in the near future.
The author utilizes various articles that target Generation Z in a negative manner, such as “Is Google Making Us Stupid?”, “The dumbest Generation: How The Digital Age Stupefies Young American and Jeopardizes Our Future” and “Alone Together”, revealing that this current generation is frowned upon by researchers as well as older generations, labeling them as “internet hungry screenagers with nothing but addiction to social media”. She use that as a backbone to older gen.’s non-stop complaints about gen. Z. She uses various opinions of successful CEOS and researchers to prove why people should put faith in gen.
1) With which of the international competitors listed in the case is it most interesting to compare Inditex’s financial results? Why? What do comparisons indicate about Inditex’s relative operating economics? Its relative capital efficiency? Note that while the electronic version of Exhibit 6 automates some of the comparisons, you will probably want to dig further into them?
As a result, they are able to cater to and target a larger demographic market. While their standard Nordstrom products provide a higher-end quality, focusing on upscale shoppers who are high class, Nordstrom Rack targets the middle-class, mid-scale shoppers who may not be able to afford Nordstrom products on a regular day. This price decision allows them to target a completely different market segment of customers who are typically younger and focus on value. Much of their target market is also the young millennial generation. Many other similar retail stores, like Macy’s or Sears, have difficulty attracting this market. Because millenials are younger, Nordstrom aims to build strong relationships with these individuals, as then they will continue shopping at Nordstrom as they get older, increasing the customer lifetime value. Through being able to target two major market segments, Nordstrom holds a competitive advantage over store like Target, who target one market of middle-class
This presentation will address the idea of a new private brand for Macy’s, created for the purpose of driving sales among Millennials and increasing Macy’s market share. Sustain, the brand we chose to create, is inspired by sustainably-sourced materials and sustainable practices in order to attract environmentally-conscious Millennial shoppers. Through this presentation, we will explore how this proposed brand will attract a target market through multiple channels, how the brand aligns with Macy’s vision, and how Macy’s can implement and introduce the brand successfully. Currently, more than half of Macy’s customers are Baby Boomers and Generation X’ers. However, Millennials are the largest group of consumers who care about the environment today.
When discussing the topic of millennials or formally known as Generation Y, most will receive two different sides. Depending on who is asked, millennials range from 1980-2000 mostly making them made up of teens to 20’s. Millennials today are either looked at as the narcissistic generation, or they get classified as educated and skilled. While today’s world is mostly revolved around a technology or social based atmosphere, this gives managers a new way they need to cope with the new generation of upcoming employers. With always having technology in their lives this helps give the two sides of how millennials are viewed. On a positive and supporting standpoint, millennials being so technology driven helps businesses
JCPenney is a chain of American mid-range department stores that is based out of Texas that started over 100 years ago. JCPenny has been successful for most of its time up until the last three to four years. The company is trying relentlessly to overcome the lingering effects of the makeover that former CEO, Ron Johnson, had implemented in order for the company to take a new direction in hopes of increasing sales. The new CEO, Myron Ullman, has taken a close look into the markets demographic segmentation along with the income segmentation in order to attempt to return the retailer back to its old self, which is to appeal to middle-market customers. A couple issues of major concern for the company are the dissolving of Johnson’s Boutiques, the price of their products, and overall revenue.
Community colleges are, historically, known for servicing the more non-traditional population, such as adults who work full-time and individuals seeking fast-paced trade-skills, a successful enterprise (AACC, 2013). In a community college setting located within the Southern Region of Texas, there is an opportunity to study the social expectations and educational needs of Generation Z relative to their college experience compared to other identified groups of students enrolled in the institution. Generation Z accounts for less than 20% of the community college full-time enrollment (AACC, 2013). According to the Daily Nation (2016), they are described as independent, stubborn, pragmatic and always in a rush, Generation Z will challenge Community
Zara realizes that millennial customers hate seeing someone on the street with the same sport coat or dress. The need to be unique and individual is rooted
The period success of GAP had taken a turn since 2002. Profits and revenue continued to decline. From 2008-2010, just in U.S, 6000 retail stores had been closed because of the financial recession; during this period, Gap closed more than fifty of its 3251 stores. The annual income of GAP had also been successively overpassed by ZARA in 2008 and H&M in 2009, which dropped down to the third in fashion industry (Liu, 2013). And continually, the company’s net income declined to $833 million in 2011, which is 17% less than it earned in 2010 (Exhibit 1) (Ciasullo, Blauvelt, & Lambert, 2012). In U.S, the largest market for GAP, the elder generation who bought Gap products in 1990s had gradually left Gap for different requirements with the increasing age, and Gap was unable to keep its success with the younger generation. In addition, although Chinese market currently has been the second largest market for GAP Inc., they still operate the GAP brand as a follower without any distinct positioning str...
Why would our generation, Generation Z, be different than all the other generations? To be honest, this generation has had experience with a much more advanced and easier life. America has made it very easy to survive. Many things that used to be very hard to obtain, examples are money and food, are now very easy to get your hands on. In my opinion, this lifestyle is better than having a hard life where you are poor and starving. But the greatsest gift of all is the technology we have.