Fashion customers are ever demanding for something new, original and creative for a marketer it is very tough and demanding to provide for. TopShop a leading UK chain of fashion clothing and accessories which caters for this need for the highly fashion conscious market. This store has risen to cult status and is one leading brand name in high street fashion. What makes TopShop click? TopShop implements aggressive marketing strategies. It is constantly there in the minds of people. The positioning is extremely strong. Marketing strategies have to be designed and modified according to the market conditions.This is required for the success of the strategies. We are going to analyse the designing and implementation of various marketing strategies as per the changing external environment. Let us look into history of TopShop. TopShop was launched in 1964. It is a branch of Arcadia group. It started with a concept of high end fashion. Today TopShop doesn’t attract only high end shoppers. It is a fashion destination for ramp and catwalk fashion seekers as well. It is an excellent example of high end meets catwalk. The flagship store is located at oxford circus with a whopping 90,000 square feet area where the daily footfall is 200 000 and more customers and almost more than half of them shop something or the other in the other. Marketing Strategies implemented by TopShop: 1. Logic of high end meets catwalk: Catwalk fashion is inaccessible, not wearable and expensive for a common fashion seeker. Combining the cost and the cuts makes TopShop click. This enables to provide for maximum fresh looks in a given season for the shop and increases sales. 2. Cost: TopShop costs are perfectly balanced, not being cheap and not being expensive either. 3. All in one shopping experience: TopShop provides accessories, bags, shoes, etc. under one roof. For men’s shopping it provides game zones, relaxing zones etc. So shopping is not perceived as a cumbersome and compulsory activity as usually perceived by men. 4. Supply matching with the demand: Fashion marketer needs to cater the market at a top speed. TopShop keeps pace with the demand by aggressive supply to the shops and chain it has set up. 5. Personalised services: TopShop has set up personalised advisors for guiding fashion seekers. Topshop takes pride in the fact that these style advisors are like walking catalogues on the shop and are available for help. 6. Celebrity branding: TopShop has always roped in celebrities like Kate Moss, Beyonce, Victoria Beckham for its promotion adding to the glamour quotient of the shop 7. Supporting new designers: TopShop supports upcoming designers to showcase their work. This gives the shop an advantage of setting new trends in the market with fresh cheerful designs PEST Analysis for TopShop This analysis is used for analysing external factors affecting an organization. All the marketing strategies mentioned above have helped TopShop set up in the domestic environment. As confirmed by SWOT analysis and life cycle curve, TopShop now needs to look beyond the national boundaries. TopShop with its aggressive expansion plan has already stated that it intends to move abroad for an excellent growth opportunity. Let us analyse TopShop’s current marketing strategies with respect to the external environment of emerging economies where TopShop is set to expand: 1. Political factors: Description: For business to survive, sustain and grow a stable political environment is required. The degree on intervention a government will have in businesses and economy also makes a difference for the business. Political decisions make or mar the businesses. What is also needed to be seen is the development of infrastructure and education of the workforce, both directly connected with the political factor in PESTEL affecting businesses. UK: Political environment is stable. TopShop has seen various governments coming from the headquarters of Conservative or Labour Party. However the government has managed to provide excellent
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Fashion customers are ever demanding for something new, original and creative for a marketer it is very tough and demanding to provide for. TopShop a leading UK chain of fashion clothing and accessories which caters for this need for the highly fashion conscious market…
At the end recommendations are suggested to enable Topshop retain its market share and to ensure their continued success in the retail industry in future. Table of Contents Executive summary 1 Table of Contents 2 Introduction 3 Industry at a glance 4 Financial performance 5 Effect of market orientation 6 Customer orientation 6 Competitor focus 7 Cross-functional coordination 7 Strategic positioning 8 Relationship marketing and customer loyalty 8 Store layout & location 9 Retail value chain 10 Global expansion 11 Information Technology 12 Conclusion 12 Recommendations 13 References 14 Introduction Topshop, launched in 1964 in the basement of a Peter Robinson department store, is a retailer of
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In such an approach companies use one set of strategies for everything. But how the sets of strategies are devised depends upon the nature of company's product or service orientation. Piercy (2001) states that no perfect solution exists for all situations and a lot of things need to be taken care of depending upon the sector the requirements of the business.
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Topshop is an amazing story. Beginning humbly in 1964 in a basement of a retailer called Peter Robinson, in the up-market
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It has also been considered that Topshop is most likely to use South Africa as the central base of expansion strategy in the African continent. In the context of the present study it needs to be mentioned that while
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