Marketing
Choose one Hong Kong Company to discuss its segmentation, targeting and positioning (STP). Do you think the business is successful or not? If the business is successful, can it be better? If not successful, please suggest alternate STP and justify your argument.
STP are three components of company business strategy. In the discussion, Hong Kong company Bossini will be taken as an example to illustrate how these three elements combine to form a valuable business strategy.
Bossini, a subsidiary comapny of Bossini International Holdings Limited, is a leading apparel retailer and franchiser in Hong Kong. Its headquarter is in Hong Kong. Its first retail outlet is established in 1987. The expansion of Bossini is very rapid with well establishment of an extensive international operating platform and distribution network. Up till now, Bossini successfully expanded its business to 36 countries globally. The four core markets of Bossini are Hong Kong, Mainland China, Taiwan and Singapore.
Segmentation is the strategy Identifying bases for segmenting the market and developing profiles of resulting segments. It is the division of a mass market into distinct groups that have common characteristics, needs and similar responses to marketing action. Bossini did well illustration of geographic segmentation. The company strategically divides their market in areas with high consumer traffic. They are Hong Kong, Mainland China, Taiwan, Singapore and Malaysia. Bossini is quite successful in market segmentation. The segmental performance of Bossini for the fiscal year 2007 was reported as HK$ 99mn for Hong Kong alone. Hong Kong is account for the largest market segment. The expansion of the segmentation is rapid including the 578 directly managed franchise outlets in Mainland China, 322 export franchise outlets in approximately in 20 countries and 193 directly-managed outlets in Hong Kong, Taiwan and Singapore. The speed of expansion shows the success of the market segmentation.
STP are three components of company business strategy. In the discussion, Hong Kong company Bossini will be taken as an example to illustrate how these three elements combine to form a valuable business strategy.
Bossini, a subsidiary comapny of Bossini International Holdings Limited, is a leading apparel retailer and franchiser in Hong Kong. Its headquarter is in Hong Kong. Its first retail outlet is established in 1987. The expansion of Bossini is very rapid with well establishment of an extensive international operating platform and distribution network. Up till now, Bossini successfully expanded its business to 36 countries globally. The four core markets of Bossini are Hong Kong, Mainland China, Taiwan and Singapore.
Segmentation is the strategy Identifying bases for segmenting the market and developing profiles of resulting segments. It is the division of a mass market into distinct groups that have common characteristics, needs and similar responses to marketing action. Bossini did well illustration of geographic segmentation. The company strategically divides their market in areas with high consumer traffic. They are Hong Kong, Mainland China, Taiwan, Singapore and Malaysia. Bossini is quite successful in market segmentation. The segmental performance of Bossini for the fiscal year 2007 was reported as HK$ 99mn for Hong Kong alone. Hong Kong is account for the largest market segment. The expansion of the segmentation is rapid including the 578 directly managed franchise outlets in Mainland China, 322 export franchise outlets in approximately in 20 countries and 193 directly-managed outlets in Hong Kong, Taiwan and Singapore. The speed of expansion shows the success of the market segmentation.