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Marketing report on the body shop
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Retail Merchandising Retail merchandising is a management system of strategic planning and tactical control, directed toward the financial enhancement of an inventory and the profitable distribution of that inventory to the retail consumer. Merchandising enables retailers to make the best use of space and layout. It creates part of the communication process with consumers and focuses on layout, design, traffic flow and display advantage points. It links in with the overall development of a company’s corporate image and strategies, and fits with the organisation’s objectives to enhance and promote image. The primary goal of retail merchandising is to influence the potential customers to purchase a particular merchandise product at a particular retail store. The techniques are used to focus customers’ minds on what is available and enable the customers to move freely from one area to another and to make the purchasing decisions easier. Visual merchandising techniques are logical, practical and can be taught to all of a store's employees. But first the retailer must instill in employees a sense of ownership of the merchandise. Body shop was founded by Anita Roddick in 1976, started from one small shop in Brighton. Today, the Body Shop boasts over 1,900 stores in 50 countries, crossing 12 time zones and selling over 1,000 hair and skincare products. The body shop plc is famous for creating a niche market sector hi quality nature inspired skin and hair care products. It is estimated that The Body Shop sells a product every 0.4 seconds with over 77 million customer transactions through stores worldwide, with customers sampling the cur... ... middle of paper ... ...nother key to understand merchandising is to realise that a store is not two-dimensional. It should be treated as is a piece of three-dimensional sculpture. Vertical merchandising is more effective than horizontal merchandising because the focus of horizontal images fades out to the sides. By contrast, the eyes can take in an entire vertical image with one glance. Another powerful visual merchandising technique is the law of interrupted patterns. In any situation where there is a disruption of a prevailing pattern, the eyes move immediately to the break in that pattern. Another behavior pattern that retailers can capitalise on through proper merchandising is the tendency that most people have to automatically turn to the right. Putting fixtures at a 45 degrees angle to the main traffic pattern ensures total visibility.
Macy’s intended to deliver enhanced shopping experiences to its consumers through dynamic department stores and online sites. In this regard, the company developed a North Star strategy that allows it to improve its sales growth and to develop its existing core activities. The company’s consumer research monitors, analyze and anticipate their needs and wants based on the changing market trends. This allows it to strengthen its customer base and also helps it in identifying new markets and customers. Macy’s also identifies different styles and designs based on various occasions and events that allow it to capture the changing preferences of its customers. The company also celebrates various iconic events to interact with its customers which
Levy, Michael, Barton A. Weitz, and Dhruv Grewal. Retailing Management. ed. New York, NY: McGraw-Hill Education, 2014. Print.
Nordstrom retail stores have large hallways, and everything is presented in a very classy manner. The color scheme includes pale yellows, whites, and gold, to provide a more elegant appearance in the store in order to make the shopped feel special. The design is also seen through product organization. Compared to stores like Macy’s, which organize their products based on brand, Nordstrom organizes their products based on lifestyle. Because of this, it is easier for shoppers to find clothes similar to their style as opposed to by brand. In effect, shoppers will purchase more products. This also is a type of experiential retailing, where Nordstrom customers are able to experience the elements of their lifestyle within one section. More so, the product presentation will draw people’s eyes to products, even if they are not looking for it. This gives Nordstrom a competitive advantage in relation to other similar retail stores because it makes their store look more glamorous and high-end. While other stores may focus on value, Nordstrom utilizes the retail positioning strategy to make a customer feel more high-end and
Also, the retailers can send ads, coupons to their customer base on the information they have to get their customers to come back. It is really easy for the retail to bond the relationship with their customers by knowing what their customers’ need and desire. Importantly, it is all about making people feel comfortable into liking the place, and they will likely to come back. According to the book “Why We Buy the Science of Shopping”, written by Paco Underhill, people doesn’t like to be brushed or touched from behind. They’ll even move from the merchandise they’re interested in avoiding it. The sales from a tie rack were lower than expected; it was because of the butt-brush factor. After they moved the rack; the sale went up quickly and substantially (fbdfjbsjfbsj). That implies the retailers are always looking to chance in order to match customers’ interest. Not only that, they could also use the data from to send out the deal to the customer base on their interest. As a result, the customer will most likely to come back to the store they already familiar with. In extend, the retailers can also send out gift cards, reward cards to customers rewarding them for being loyalty to the store. Some people think it is manipulating people into buying goods, but it is not true. The customer always has to choice whether to buy or not. No one is forcing them to buy anything. Often, people came
Industry Overview Some 400,000 specialty retail stores operate in the US with combined annual sales of $350 billion. CAGR 2002-06: 5%. Market is dominated by large players like Best Buy, Toys “R” Us, Gap, Sports Authority, etc. The market size of some major product categories.
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
JCPenney is one of the largest department stores and largest catalog merchant in the United States. This store is having problems with the changes in the consumer habits, and they realized that Millennials’ expectations are different. The Old Way to grab and attract other generations is not working with them, something appreciates through many ups and downs of the company. JCPenney is changing their strategy, and now they are applying the consumer psychology, which tells the customers what they want to hear. As a result, the sales are growing and, for this moment they are getting to stop the bleeding (Tannahill, 2016).
This article, which was published in The New York Times on Sunday, November 12, discusses the American Medical Association’s recent plans to pull out of a deal that it had originally signed with the Sunbeam, Corp. and has signed a new deal to sell its subscription and membership list to a database marketing firm.
Place (channels of distribution), refers to the point of sale (POS). The method of which a product is assessable to the consumer is a crucial part in the distribution of goods. Retailers pay top dollar for prime real-estate, one of the most popular saying in business is “location, location, location”. Location is key in the retail market and Victoria’s Secret understands that very well, they offer a number of outlets for consumers to reach their products; they have a number of physical store locations both inside and outside of the mall and centrally located to consumers, including overseas and in a number of countries throughout the world, offer online shopping for the millennial and convenience shopping as well as via catalogue (mail order). There is great utilization in all outlets for distribution of the product line; Victoria’s Secret ensures high engagement of its consumers in all outlets by offering special sales and promotions significant to the specific outlet. By doing this they appeal to each market
This report analyzes the cosmetics retail industry in Hong Kong. There are many large-scale specialty cosmetics chains that are well developed in this market, such as Sasa, Bonjour, Colourmix, Aster and Angel, which are taking the lead. They mainly offer a wide range of international branded products and private label products to cater for customers’ special beauty needs, like make-up, fragrance, skincare items. With many dominant firms and a slowing growth in demand, the industry structure is being identified as mature.
It is not a surprise that fast food has become a way of life in America. Every day about a quarter of the adult population n United States visits the fast food restaurant. Every month about 90 percent of children aged 3-9 visit McDonald's. According to Schlosser, Americans spent more than $110 billion a year on the fast food. In his book "Fast Food Nation" Eric Schlosser is not chiefly interested in the consumption of fast food, but his primary objective is to explore manufacturing starting with the unemployment. His book deals with United States politics and raises many social issues.
In a simple way, the retailer needs to create a warm, friendly and an approachable retail space to attract consumers.The visual displays is an imperative element of branding of any store. If the stock is presentable, it is bound to appeal to the shoppers. If the shoppers appreciate the store layout and product, they are likely to spend more time in the store, and in return reward the store with sales. Along with the products for sales, the staff, the décor, the store interiors, the trial rooms arrangement, the lightings and music also form an inclusive elements boosting store sales. (fibre2fashion, 2008)
All foodservice businesses, regardless of type or size, have assured processes in widespread. Whether the foodservice business is fast food restaurant or a fine dining business, it should purchase supplies from suppliers by phone, computer e-mail or Web page, fax, letter or from a salesperson who calls at the establishment. Both type of establishment must receive the supplies by the time they have arrived, and somebody must verify that the quality, price and quantity are the same as they’ve ordered. The food must be put away in the dry storage, freezer or chillers. As soon as they are needed, the food must be taken straight from the food storage and prepared for customers who ordered it. Responsibility for purchasing can be assigned to any one of a number of persons in foodservice operations, depending on organizational structure and management policies. It is not uncommon to find owners or managers taking the responsibility in some establishments, whereas in others the purchasing duties may be assigned to a chef or steward. In some hotel, foods may even be ordered by some...
Customer service by definition is the ability of knowledgeable, capable, and enthusiastic employees to deliver products and services to their internal and external customers in a manner that satisfies identified and unidentified needs and ultimately results in positive word-of-mouth publicity and return business (Lucas, 2012, pg.7). In other words, it’s making the customer pleased so that they keep doing business with you all while making sure that the employees get along and work together well. In every business there is a form of customer service. Unfortunately, it is not always excellent or even decent. Some businesses just either don’t care or possibly just don’t have the training to deal with some of the obstacles that come with dealing with customers on a daily basis. I’ve been in the restaurant business for over 13 years and I can tell you that there are skills that some are born with and others need training on, yet either way they should be used whenever interacting with customers.
Since the establishment of the Internet, traditional ‘bricks and mortar’ stores, also known as store-based retailers, have been under siege by online retailers. As stated by Magner (2013), the next five years will observe an increase in online sales, domestically and/or internationally, as it provides consumers with a wider variety of products at competitive prices, no shop-trading hours and no GST payable on purchases made overseas which are under AUD$1000. Furthermore, the retail lifecycle for the majority of store-based retailers has hit the mature to decline phase. Magner (2013) states that a “slowdown [in] technological system changes and wholehearted market acceptance and market saturation of products” have been strong indicators for the store-based to reach the maturity phase. Additionally, the changes in consumer lifestyle, product range preferences, low-cost private–label merchandise and slow technological advances are factors preventing the sector from propelling into the growth retail lifecycle phase (Magner 2013). Examples of firms that have been affected by digital retailers are Myer and David Jones as they face disadvantages factors like high operational cost (i.e. labor and rental cost), low range of products in comparison to online retailers (Denness 2014). The example is further illustrated by Figure 1 (above) as it provides statistics for the falling revenue for department stores to digital retailers (NAB Group Economics 2014). Moreover, the averseness of larger store-based retailers to invest in online retail channel has resulted in an increasing number of competitors targeting lucrative Australian consumers. An example is UK-based fashion retailer ASOS, which launched a website dedicated to Australian patrons, ...