"You can't sell anything if you can't tell anything" by Beth Comstock. Compare and contrasting marketing strategies between two very popular businesses, Tilly's and Forever 21. These two stores are very popular for similar and different reasons, as an example Forever 21 sells really cheap clothes and Tilly's sells midrange priced or expensive clothes. Tilly's sells accessories for young men, young women, boys and girls. Tilly's has 220 stores approximately in 30 states. Tilly's clothes are apparel and fashion, sports, recreational activities, retail, and travel. Forever 21 has accessories for all genders, there clothes are mostly sold to teens or young adults. Mostly women shop at Forever 21. Tilly's markets their company by social media, …show more content…
Tilly's and Forever 21 market strategies are very similar because they attract the same age group of people and are both very popular for their accessories, but they sell clothes that look alike. Tilly's and Forever 21 are very different by how they advertise and their prices because Forever 21 is very cheap and Tilly's is more expensive depending on what you buy. I feel like Tilly's has a stronger strategy support because they advertise better and have a program set up to see there increases and decreases of customers. Forever 21 doesn't have that well thought out and doesn't have anything to see these decreases or increases. Tilly's I would add commercials into their marketing strategy, but I love how they have emails and give rewards if you are a customer that shops there a lot. Forever 21 I would add a lot, I would add more advertising and emails and rewards because it helps have loyal customers. One thing I love about Tilly's is that the store is always organized, and I can find what I want really easy. I don't like Forever 21 because it's very unorganized and I can never find anything, and I feel gross being there because it's disgusting. Tilly's clothes are name brand and don't rip very easily, but forever 21 clothes you can tell there cheap and can't even last one wash. Tilly's I get my money's
Tootsie Roll has implemented various internal growth strategies to achieve success. First, Tootsie Roll has used market penetration through selling their products in other countries, such as the Far East and Europe. Second, Tootsie Roll has used market development through increasing sales by selling certain products, such as Junior Mints, in retail outlets, convenient stores, grocery stores, drug chains, and warehouse club stores. Third, Tootsie Roll has participated in product development through changing the way they packaged certain products to more effectively market the new Warner-Lambert brands. Fourth, Tootsie Roll has a vertically integrated structure to reduce its costs with suppliers.
Tootsie Roll Industries has implemented several internal growth strategies to maintain a competitive advantage. First, Tootsie Roll has engaged in market penetration through their advertising campaigns on television and the expansion of their advertising efforts internationally. Second, the company has used the market development internal growth strategy through extending their sales efforts globally. Right now, Tootsie Roll has expanded into the Far East and Europe, along with various other regions. Additionally, Tootsie Roll has most recently participated in market development through selling their products in warehouse clubs, grocery stores, retail stores, convenience stores, and drug chains.
The two articles that will be analyzed in this essay, “Farmer-in-Chief,” by Michael Pollan, and “Wal-Mart vs. Jim Hightower,” by Jim Hightower, both take a behind the scenes look at what is actually going on in major industries today, and how not everything is what it seems. Michael Pollan goes in depth on the agricultural side of things, and how our food is processed and produced. He also uncovers a very disturbing farming method known as “factory farming,” and how it is now a common practice that most large food companies use. The other article by Jim Hightower, takes a look at the superstore known as Wal-Mart, and dives into unethical strategies that makes the large company so successful.
Dillards, Inc versus Nordstrom, Inc. FI305.001 Michelle Miller, Phillip Stowe, Daniel Carr Table of Contents Firm Overview……………………………………………………………………………….. 3 Critique……………………………………………………………………………………….. 4 Financial Statements and Ratios………………………………………………………….. 8 Firm Overview Nordstrom’s and Dillard’s are both retail stores categorized within the family clothing retail industry. They fall into this category because they each provide clothing lines for men, women and children; they exemplify the marketing trope: for “the whole family”.
Case Analysis Disruptive Business Models Markides (2006) explains that disruptive business models are strategies implemented in a company which enables it to outshine the competitors in an individual market. The disruptive model focuses on distorting the existing market and making the customers prefer the new business as opposed to the others (Magretta, 2012). Disruptive business models may include offering higher discounts, after sales services and premium products. Such a model is often sudden, and it takes over the entire market which sometimes leaves the other market players disoriented. During this time, such a company takes advantage by acquiring massive customer following and ultimately more profits.
When launching a new product or service, a company needs to develop the key group of customers in which they are targeting. There are many steps in identifying the target market; one of these steps is to look at past marketing plans in a company and collect information to produce a customer profile. This profile is important because “it influences the objectives, creation of the communications message and the channels and media mix being selected” (Gbadamosi and others, 2013, p. 275). When this profile is solidified, the appropriate methods to make a successful marketing plan can take action to launch the new product or service. Nordstrom’s Treasure & Bond, is a new clothing line by the leading fashion specialists, targeting 18-30 year
For the business-level, Trader Joe’s adopted a differentiation focus strategy. According to our textbook with this strategy, Trader Joe’s seeks to differentiate in its target market. They rely on providing better service than broad-based competitors. Specifically, they focus on the special needs of the buyer in other segments (Dess, Page 159). Joe’s differentiates its self from other grocers by providing a unique shopping experience fortified with their private label goods and great service from their crew members.
Retail positioning aims to provide competitive edge by differentiating the retailer from its competition. This differentiation can be achieved through retail offerings that appeal to, and are easily identifiable to by its target market. This process is done by selecting market segmentations and matching them to the retail offerings as precisely as possible. It is vital to understand the consumers needs and wants in order to make a proper match and be distinguished from other retailers. Nordstrom distinguishes itself from other retailers by positioning itself as an upscale fashion store with outstanding customer service, and its multichannel approach.
Nordstrom is usually located in shopping centers, specialty centers, and central business districts. Nordstrom also has stores in both location choices to further availability to increase its target market, who prefer shopping in these two retail locations. Nordstrom allows customers to search through multiple level stores to find exactly what they want. Nordstrom also has helpful sales floor associates to guide customers to the products they want. .
Specifically, Ralph’s (similar stores are Vons and Albertson’s) and Whole Foods (similar stores are Gelson’s and Trader Joes) are two firms that utilize cost leadership and differentiation. On one hand, we have Ralph’s using cost differentiation by providing a broad range of merchandise at a decent price. On the other hand, we have Whole Foods that has implemented a differentiation strategy by marketing their merchandise as healthier (organic). The trade of for both companies is that they are attracting less consumers by just marketing to a specific crowed. For instance, if Whole Foods had lowered their price and still sold premium merchandise, soon Ralph’s would be in trouble.
3.0 Industry and Competitor Analysis The fashion industry in the UK, Europe and the US has several players who compete for the rich market niche. Compare to its competitors in the clothing and accessories industry, Ted Baker performs very well as evidence by its improved financial ratios e.g the EPS over the past five years. 3.1 Industry Overview The high-street fashion industry is dominated by several firms but Ted Baker is continually winning attention in that industry.
Company Background Forever 21 was founded by a South Korean couple; Don Won Chang and Jin Sook Chang; his wife. Forever 21 started in America with a chain of American fashion retailers which is ranked as the 122nd largest private company. The operations for Forever 21 are set up as a physical location in the whole wide world and not only that; they do have an online store that only caters in the US. This big organisation has hundreds of vendor manufacturing facilities throughout the world to manufacture their products and also ensuring they work in a safe and healthy environment to provide good quality products to us; customers.
Major Business propositions for Woodmere and HomeHelp The business proposition for Woodmere in this case study is as follows. Woodmere would be able to secure an exclusive distribution with HomeHelp, which is a market leader in Home Decorating retail market, if it can implement time-based logistics. Woodmere’s prospective customer segment is heavily consolidated resulting in stiff competition.
Introduction At the start of this course, I had no idea what to expect. This is due to the fact that marketing is a field that offers a combination of so many different disciplines such as art, psychology, and statistics. I encounter marketing on a daily basis but have strangely enough not reflected too much about it. Nevertheless, it is a very interesting subject, which deals with promoting and selling services and products.