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Shayna’s Fashion Boutique
Shayna has been designing clothing and accessories since she was a little girl.She learned to make doll dresses with her mother’s sewing machine.She graduated from UNA with a double major in Fashion Design and Marketing.She did not see any jobs that interested her, so she asked her Dad to help start a new store when she would sell the clothing that she designs and produces.Now that she has been in business for a few years, she has been thinking about applying some of the things she learned in marketing.She has been having trouble pricing her different clothes and actually figuring out how much profit she is making.
From her analysis of her business she knows that teenagers love her clothes.Her tops and dresses are quite unique and the girls that buy them are pleased that no one else has he same clothes.She has noticed that many of the students from the University like her accessories and top combinations and that the students are willing to pay more compared to the teens.One of the sororities has asked her to design a set of pendants to wear for formals.She has also a large group of single and married females who frequent her store and buy the more expensive products.This group of 24 to 35 year olds shops the most and buys more of the specialist items like matching handbags.
Relative to profit, she is making the most from the 24-35 year olds but that group is very selective and sometimes does not buy her recent designs.The teenagers are less selective and will buy just about anything on sale.The University students are more likely to buy less unique designs that produced in multiple lots e.g., ten tops with similar color combinations.
The more Shayna analyses the target market the more confused she gets.She has decided to call Dr. Armstrong to get his current class of students to help her identify her best target market.
- What bases of segmentation should Shayna use?
- Develop a matrix to reflect potential profiles of Shayna’s market.
- Estimate demand for the resulting profiles.
- Select the best profile and develop a resulting marketing mix.
1.What bases of segmentation should Shayna use?
Age would be best for the teenagers.Occupation for University students.Behavior for Sororities.Family-life cycle for single and married females and then age 24-35.
2. Develop a matrix to reflect potential profiles of Shayna’s market.
Shayna’s matrix should have columns with University students, Sororities, Single/Married (24-35).The rows in the matrix should be Clothing type purchased, total sales, economic strength or buying power, design requirements and multiple lot potential.
3.Estimate demand for the resulting profiles.
To estimate demand, Shayna should get census records for teenagers in the region times the average sales of the clothes they buy. Use the matrix evaluation to calculate to demand i.e., total sales times economic strength times buying power.
4.Select the best profile and develop a resulting marketing mix.
The best profile would be the profile that yields the highest revenue potential and fits the strategy that Shayna would use in her business.The marketing mix should reflect the target market profile she selects.For example, if Shayna selects the Single/Married (24-35) segment she would develop product designs that match the needs and wants of this segment i.e., professional work oriented, less trendy more classical.The Promotion should be in women’s magazine inserts, cable channels that match the segments viewership.Distribution should be changed to match the segment.For example, the displays should be more classical with photos of women in this age category.Price would be higher than averages found at Dillards.