Situation analysis Customer Insight - “..Building in the voice of the customer‚ seeking customer insights‚ and getting the right market information before Development proceeds are vital requirements.” Robert G. Cooper‚ Winning at New Products Topshop is a fashion forward brand with its flagship store based on London Oxford Street. Topshop have cleverly used social media to get a better customer insight. This is done by using Facebook to like and share posts of what they like. By doing this Topshop
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that firm to be a monopoly or left with just a few firms in the market‚ and allowing them to grow rapidly by having all the sales in the market and creating barrier to entry for the market. So for example if the UK is using the Euros‚ Jack Wills or Topman/Topshop will be able to reduce their cost of production because they export a lot of clothing to the Europe‚ so if they don’t have to pay the transection cost‚ it will lower the total cost‚ which provides better profit margin‚ and will allow them
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in 1964 as Peter Robinson’s Top Shop‚ a young-persons’ fashion brand within the Sheffield branch of the Peter Robinson Ltd ladies fashion store chain (former department store chain). The first stand-alone Topshop store was opened in 1974. In 1978‚ Topman was created as a spin-off brand to cater for male customers and is now run as a separate chain‚ although some stores are co-located Product Topshop product are basically following the current trend‚ for example ‚ ’New Age Constalation’‚ ’Swedish
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Competitor Analysis The fashion industry is one of the most fast-paced and fast-moving consumer sectors in the market‚ so it is no surprise that there are many companies who are competing against each other in terms of obtaining the most market shares. This industry also attracts numerous consumers who are style-conscious and are up to date with fashion and trends; therefore companies must continuously develop themselves in order to stand out and to be chosen by consumers. Our final project’s main
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Next hold a strong piece of the market share even though it’s not a large amount. It would be difficult for a new competitor to enter the retail clothing industry in Dublin as there are already a number of key players such as Next‚ River Island‚ Topman‚ Penneys and Dunne’s Stores. There are six major sources of barriers to entry‚ looking at three in detail. Economies of scale refer to declines in unit costs when producing a product. Economies of scale deter entry by forcing the entrant to come
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Introduction: This report will explore the consumer behaviour in general along with men’s buying attitudes towards clothes shopping and the bases for market segmentation and how these might be used in Men’s clothing market Part1: Consumer Behaviour Men are notorious for being reluctant shoppers‚ preferring to browse stores where they can indulge their hobbies or interests‚ rather than look for clothes. (Mintel) According to research almost two in five men do not enjoy shopping for clothes
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Name:Yutian Wang ID:43228259 Business Name:Topshop Email Address: wangyt_1002@hotmail.com TOPSHOP Marketing Plan Prepared: [25 Dec 2013] Table of Contents 1 Marketing Plan Summary [Please complete this page last] [The marketing plan summary is a snapshot of your more detailed answers from your marketing plan. It should be easy to read and simple to follow. ] Introduction of Topshop Business
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Is it possible for large‚ profit focussed organisations to be both profitable and “fair”? Over the past year there have been an increasing number of issues which have risen on how businesses such as Amazon‚ Thames Water‚ Google‚ Facebook and Starbucks have made vast amount of profits but haven’t been fair-minded. For example Starbucks made £400m sales in the UK but paid no corporation tax. According to Milton Freidman the main objective of a business is to increase profits so long as it stays within
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Data Protection Act 1998 The Data Protection Act 1998 gives you the right to know what information is being held about you‚ and sets out rules to make sure that this information is handled properly. For example when you shop online at Boots or Topman you have the right to know what details they have about you‚ and they cannot pass on this information to others without your consent. As E-business grows bigger the government might have to introduce new legislation‚ because more people will be
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Topshop Market According to Mintel (August 2003)‚ UK consumers keep on spending on clothes‚ even when they are cutting back in other areas‚ with total consumer expenditure on clothing in the UK reaching £34‚825 million in 2002 - a 25.3% increase compared to 1998. This exceeds the growth of total consumer expenditure in the UK over the same period. Although the rate of year-on-year sales growth slowed slightly in 2003 as the consumer boom of 2000 and 2001 cooled‚ the slowdown in fashion retailing
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