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Effect of brand on consumer behavior
Effect of brand on consumer behavior
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3.Promotion Promotion is to introduce a product to the market , and enhance the public awareness of the product. Promotion through advertising , public relations and the Internet to promote products to increase consumer spending. In UK, Harrods always has discount such as 10% and 20% and gift cards to promote their bands. In Hong Kong , Hong Kong has a lot of department store such as Yata Those department store will be specific to some days is a shopping discount day to attract people to shopping. We will be special promotion such as consistent and massive use to social media platforms, celebrity endorsement and In-store events. Nowadays, Hong Kong people often use social media such as Facebook and instragm. We open our online shop and had detail for our company in instragm and facebook, so that will become more people know us in Hong Kong. Besides, Hong Kong …show more content…
London people’s consume power is relatively high and there are a lot of shopping place, so people will always go to those shopping place to shopping. Therefore Harrods initiate their company in London. Harrods has an online shop. This online shop can deliver to different countries such as China, Thailand , Japan and Austria. In Hong Kong airport Harrods has a sign shop. Although Hong Kong airport has a lot of people to travel , but target is not local people. Moreover Harrods store start in Hong Kong airport is not convenience to local people, so local people does not go to Hong Kong airport to but Harrods products . Although Hong Kong has a lot of department store like YATA, but has not a Harrods products to buy. On the contrary, we will be in accordance with the local people more and less, the level of consumer spending power and location will be convenient for the local people to shopping. Causeway Bay steam of people, high consumption capacity and location will be convenient to the local people. Therefore our company will open in Causeway
Primark has a huge customer base for being one of the largest clothing retailer in the UK. Nonetheless, the bargaining power of buyers is relatively high due to the large quantity of competitors in the industry. Buyers are price sensitive and they will probably seek for the lowest price before purchasing an item. There is no switching cost in the market so customers are likely to buy products in other store once they discover a cheaper price.
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
This report will discuss about how external environment affects Harrods’s modus-operandi and the appropriate marketing strategies that they have to apply in the future.
mall around UK. We the customers can even find their shops at High Street; some of the
The opening of stores internationally creates a bigger market share for the business to entrée, one that local and domestic competitors might not yet of entered. However, taking the business global has also opened the door for new customers for the business to aim and target their products at according the cultural and seasonal pretences, increasing the awareness and loyalty of the business.
When opening a business in an international realm, one must examine many factors including cultural differences and geographical locations. When opening a business in a foreign nation, one must examine the need for the product being offered, the acceptance of the product into the culture, and the most effective means of advertising. Disney opened its doors in Japan with much success; much of the success can be attributed to the Japanese culture being very fond of Disney characters. Disney decided to take the same methodology to Paris to open its new park in 1992, EuroDisney (Cateora & Graham, 2007).
We hope this expand can please our customers and make better reputation in GCC countries beside increase our profit.
Stores range from small local favorites to big brand name. Many local flea markets give, usually fake, name brand products for about 80% off retail.
Stores can not always offer huge discounts or free merchandise, but they have to find some way to increase customer loyalty. Customers love to see low prices at retail stores, but there are other things they look for that will make them want to go back. One thing that may attract customers is maintaining quality customer service. If someone goes shopping and has a positive experience because the employees were helpful and friendly, it may make them want to return more frequently. When a customer has a negative experience with a rude employee for example, it will reflect on the company and they can easily find somewhere else to do get their shopping done. Another thing that might appeal to customers, especially for Black Friday and holiday shopping, would be hassle free returns. Being able to return items easily is important to customers. If they have a hard time getting a refund for their purchases, they may not want to buy anything else from your store and waste their money if they know they can not return the items. Lastly, to encourage customer loyalty, businesses can offer loyalty cards. A great way to get a customer to return to your store is to offer them a discount, in-store credit or some other special offer after visiting the store so many times. The business would incur an expense in the long run, but if the customer has to come back to the store
Promotion. Finally comes promotion - informing the customer on the qualities and advantages of the product so that the potential buyer learns about the product, prefers it to those of the competitors, and has an opportunity to buy it at some place.
Around the world they have 3,100 stores. Most of the stores are in Germany, United Kingdom, United States, France, Spain, and Sweden. The stores are in every continent.
Hennes & Mauritz AB (H&M) is a well-known fashion retailing firm that sells fast-fashion clothing for women and youngsters. It is based in Stockholm, Sweden. As of 2013, H&M operates around 2,600 stores in over 55 countries and employed around 116,000 work forces.
H&M is the world’s second largest retailer, only behind its main rival Zara of Inditex (Petro, 2012). The company currently has 3006 stores in 53 countries. The company does not own any factories. H&M outsources production to network of 800 independent suppliers; 75% in Asia and 25% in Europe. In order to increase the efficiency and productivity of its supply chain, the company strategically locates its network of 20 to 30 production offices close to its suppliers. According to Stockholm Newsroom, the pretax profit of the company for the month of June to August of 2013 is $907 million, which indicates an 11 rise in turnover (Pollard, 2013). The company continuous development plan facilitates its goal for both brick and mortar, and online stores expansion worldwide. The target segments for H&M, a category specialist store, are trendsetters and fashion/money conscious males and females ranging from 16 to 40 years old with income ranging $15,000 to $60,000 annually.
Advertising lies in the Promotion part of Marketing Mix, but it applies to all the other P's as well. Promoting one’s business is the key ingredient to making one’s business successful. Promotion, along with a great product, key placement, and a reasonable price, will help a marketer work his way to the top. Promoting does not mean leaving his advertising up to the word of mouth of his current customer.