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Consumer Analysis - Term Paper Example
Pages 8 (2008 words)
RUNNING HEADER: The Problem of Rival Promotions The Problem of Rival Promotions in the Apparel Industry: Gap Inc. BY YOU YOUR SCHOOL INFO HERE DATE HERE EXECUTIVE SUMMARY Gap Inc., a clothing retail company in business since 1969, recently attempted to reposition the business as a more modernized brand with an emphasis on quality as the business moved toward a premiumization strategy to capture new market attention…
Research indicates that young consumers strongly believe in fashion consumption as a tool by which to improve their social status and social relevancy. To identify whether this was true, a primary study was constructed that surveyed 14 youth consumers to determine whether they believed the Gap should or could provide for these needs. Findings indicated that conspicuous consumption is not a primary concern for younger markets, leading to formulate a set of recommendations that The Gap should focus more on product in the marketing mix and select certain lifestyle-relevant celebrities to gain more interest from youth consumers. The Problem of Rival Promotions in the Apparel Industry: Gap Inc. 1.0 Background Gap Inc., based in San Francisco, was founded in 1969 as a small retail store selling record albums and blue jeans. By 1970, the Gap had achieved $2 million in revenues allowing the company to expand to 25 different stores by 1973. It was not until 1974, however, that the Gap began offering consumers private-label apparel and accessories, a tradition that has positioned the business as a stand-alone innovator able to maintain strong sales volumes without reliance on various established apparel brands. 1.1 The Marketing Strategy Problem Gap Inc. ...
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