Why Topshop is playing the long game when it comes to digital transformation By Jennifer Faull May Instead Topshop, whist fully aware of the importance of being a nimble organisation, is being more considered, cautious and altogether slower in its approach to working with start-ups. Perhaps surprising given its reputation as a leading digital retailer.
How to Write a Summary of an Article? Topshop Strategy Top shop marketing plan essay Executive SummaryTop Shop is one of the leading retail brands known globally for its most up-to-date styles in clothing and other fashion accessories.
Earlier only a low price clothing outlet primarily for the teenagers, Top Shop is now the hottest fashion clothing brand with its stores keeping the latest fashions and the exclusive and extraordinary designs that appeal to all age and socio-economic groups.
The management must, however, bear in mind that while expanding into so many countries with its every increasing range of products, it would have to keep a very strict check on its supply chain.
Furthermore, regular innovations are a key to success for this mighty brand. For as this growing company approaches maturity, it would run a greater risk of the competitors catching up until it commits to innovations that are hard to imitate or are at least time and resource consuming.
It also brings forth various marketing promotions being undertaken by the company to maintain its current position and to gain on the market share.
The in depth analysis helps understanding how each of its activities have been attempting to attract customers through provision of maximum value to them and not to the company only. The later part also suggests that despite being and extraordinary fashion retailer, there are a few areas where Top Shop would need to pay special attention in order to ensure long term growth and a sustainable bottom line.
In a nutshell, the report analyzes Top Shop as a whole through its separate products and services which also act as tools for marketing for the company.
Due to its various marketing efforts, innovations in the business and exclusive services for its customers, it is now the biggest and the most differentiated name in the fashion industry especially when it comes to retailers in the field.
The Fashion Retail Market at a GlanceA study showed that even while cutting down on other areas, the European consumers hardly cut down on their expenditure on clothes Mintel, August Even when the year on year sales in the fashion industry slowed down in andthe change was not as drastic as had been predicted by certain observers.
During that period, Top Shop and some of its competitors caught up on the opportunity to provide fashion clothing at an affordable price. Few of the major players that have dominated the fashion retail industry with a reputation to preempt the latest catwalk designs include Top Shop, H;M.
Arcadia group plc under Top Shop has been engaged various marketing and promotional activities. Right at that time, the management decided to reposition Top Shop from being a discount seller to a hot trend setter brand.
Gradually however, while the other fashion brands focused following the same copying the strategy, Top Shop entered into the arena of introducing new self made designs initially under a brand named Unique. Since that time, Top Shop has been living the repute of being the high style up-to-date fashion god of the high street.
Later a shift its strategy helped the bottom line to sore up. Such a strategy assisted it in becoming a market leader where it came to the latest trends and fashion in the women-ware. It is also important to note that Top Shop offers products at usually a very low price even as low as three times comparative to the competitors.
But because the customers get access to the latest fashion only here, the revenues at Top Shop are only positively affected. More so, with its discount offers such as those especially designed for the students, it can rest assured that even the young age groups can afford the trendy ware that it has to offer to its customers.
In this manner, it is able to maintain an upscale image as well as smooth revenues. Furthermore, the hype and publicity that the mere fact of the supermodel introducing her own designer collection through Top Shop created would certainly reap long term benefits for the company.
But with Kate Moss endorsing it, there is greater likelihood of the brand gaining on its recognition in the general public as well as the celebrity masses. However, such a discount can serve for Top Shop, two important purposes.
Firstly, it would attract the young fashion oriented members of the target market who have lower purchasing power comparative to any of its other targeted customers. Additionally, their preference for shopping at Top Shop today may continue to their later age thereby ensuring a smooth flow of revenues for the company.
Secondly, and very importantly, such a discount offer is especially fruitful in times of recession. Where the sales of other upscale retail outlets may be going down due to high prices, keeping the young souls dressed in up-to-date trendy outfits obtainable at a special discounted price would prevent the sales going down beyond a certain acceptable level.
Membership cardsOne of the most distinguished promotions of this cutting edge fashion retailer is its exclusive membership for its customers.
The membership can be rightly thought of as a promotion to ensure customer loyalty by inculcating in them a sense of pride being associated with Top Shop.
Additionally, with preferred treatment in all the stores worldwide, such an initiative can ensure that the customers would help keeping the revenue flow smooth for this mighty fashion trend setter.
Additionally however, it also works effectively well in generating sales especially for an organization that has customers spread globally.
Such a purpose is only served if the website allows the visitors to make order based purchases. It not only contains information on the upcoming fashion accessories but also some very useful tips and fashion advice.Free Essay: Marketing Plan Executive summary This marketing plan examines the case of TOPSHOP as a UK’s fast-fashion retailer.
The following marketing plan. topshop marketing plan Essay [email protected] TOPSHOP Marketing Plan Prepared: [25 Dec ] 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.
Topshop core strategy is to provide high fashion products at affordable prices. The main competitors of Topshop in the Indian market are Zara, Mango, M&S, Benetton and Gap. With similar target consumer, product and pricing strategies and positioning of the brands, they make the apparel market more intense.
Topshop Strategy Top shop marketing plan essay Executive SummaryTop Shop is one of the leading retail brands known globally for its most up-to-date styles in clothing and other fashion accessories.
topshop marketing plan Essay [email protected] TOPSHOP Marketing Plan Prepared: [25 Dec ] 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.
A balance between price and quality will be imperative (PDF). Topshop core strategy is to provide high fashion products at affordable prices. The main competitors of Topshop in the Indian market are Zara, Mango, M&S, Benetton and Gap. Marketing Essay Writing Service Free Essays More Marketing Essays Examples of Our Work Marketing.