Marketting Reasearch Topshop

Many organisations use marketing research to contribute to the development of their businesses because Market research can improve marketing strategies. Market research gives you concrete feedback regarding the product or service. You can use the information from market studies in your marketing strategy to define your target market, position your product, and price it appropriately. TOPSHOP is one of the world’s most internationally recognized fashion design talent schemes its part of the Arcadia Group, which owns a number of other retail outlets, it seems to be the single biggest supporter of emerging design talent in the UK. Arcadia Group ones over than 500 stores in more than 30 markets, supporting franchisees.
Retail is a popular market as many new designers and stores are always popping Using marketing research is the most common kind of research as you can determine your market how you need to brand your product. Also finding competitors can be very useful when selling similar products for example a very popular fashion necessity like leggings.
ARK BLACK MINAX LEATHER LOOK LEGGINGS
PRICE: £12.99
COLOUR: BLACK
PRODUCT CODE: IFLWLG0B0014
ARK BLACK MINAX LEATHER LOOK LEGGINGS
PRICE: £12.99
COLOUR: BLACK
PRODUCT CODE: IFLWLG0B0014
LEATHER LOOK STRETCH LEGGINGS
Price: £32.00
Colour: BLACK
Item code: 16B01CBLK
LEATHER LOOK STRETCH LEGGINGS
Price: £32.00
Colour: BLACK
Item code: 16B01CBLK
These leather leggings are popular in London at the moment and many stores are selling them however as TOPSHOP is such a popular brand people would rather spend £33 at TOPSHOP then £12.99 at a more basic store even with the significant price difference. This shows the importance of market research and branding, TOPSHOP’s reputation and brand awareness allows them to sell product at a higher price than other market competitors. Both products are made from the same material 100% Polyurethane but TOPSHOPS modifies the basic shape by adding multiple seams and a metal