And, big store space lead to weak customer services. MY OPINION:Pro: A well-crafted corporate mission statement reflects the values of the firm as they relate to the community at large, its stakeholders, its employees, and its customers.
A business has different pricing strategies to be considered which include cost-based pricing approach or market-based pricing approach. Wholly owned Subsidiaries is the strategy can make a total control for Topshop.
4.2.4 Marketing Function Audit
Really, how much longer can this industry sustain falling prices?Boutique, with an average price point of $123.88 is more than double the average price of Topshop’s main line. The disadvantage is about lacking of trust and understanding between Topshop and its franchisee (Henry, 2008).
As a famous global brand, some suppliers are also in China, to choose wholly owned subsidiaries as an entry strategy make it close to the source of raw materials (Henry, 2008). (Alon, 2004). For Topshop, if entry barriers are high, the threats of new entrants will be low. On web shopping, there is no detail and size for accessorizes (marangonimarketing.blogspot.com, 2008[Online]). Such dynamic opportunity and fast growing market has attracted a number of global retail fashion brands to enter India which include M & S, wrangler, forever 21, Guess, Zara and recently opened Superdry (Philip kotler) Companies can gain competitive edge on the basis of the design of channel distribution they follow.
For a long-term strategy, Topshop cannot show its obvious features to attract customers and establish a superior position. Table of Contents As Topshop already has its presence in Brazil and Russia and has plans to open chain of stores in China, it will be advantageous for the brand to further expand and enter India.Indian consumers are price conservative and believe in value for money. As regards to the womens wear fragment, it accounts for about 39.4% of the total apparel retail industry in India which is a pre-requisite for Topshop. This is creating a change in the taste of the Indian consumers who are become more westernised and are now preferring the new fashion and adopting the latest trends. It also invests with a low cost. Through this research we tried to analyse the viability of Topshop to enter the Indian fashion market, its appropriate mode of its entry and the marketing mix it can adopt to successfully launch in the country.International brands should consider a number of factors before selecting its entry mode which include the market competition, prevailing business practises, and cultural challenges of the country along with the political, economical conditions and the government restrictions and policies (Yao Lu). It can make Topshop to enter China quickly and fairly and help to access market knowledge, distribution and contact with customers immediately (Chee & Harris, 1998). Topshop can maximize the control of products line, operation and managements in China with this strategy. Your strategy and marketing mix: [Use this section to summarize the overall strategy and marketing mix (The 8 P’s Product: The Topshop corporation will not change fashion clothing as its main product, but more accessories will be promoted to the market, Place and Time： Price Promotion Process Physical Environment People Delhi being the capital and Mumbai being the financial capital of the country has certain advantage.
Through this mode it can also reach shoppers where its outlet store does not exist and also provide updates of it new products and sale offers online.Until January 2012, FDI regulation in India for single brand retail trading permitted foreign investors to have a maximum 51% stake in joint venture (JV) with a local partner.
The rise of a consumer group who doesn’t mind paying more This is a concept grocery stores have understood for many years – offering their shoppers a diverse range of own-brand products that run the gamut of good, better, best.
It is owned by Sir Philip Green and the stores feature Kate Moss’s designer fashions (Mahalo.com, 2010 [Online]).
It is attractive for small firms as it requires little capital (Chee & Harris, 1998).
Along with its standard core products like tops, trousers, dresses, jackets and nightwear, they should also include different range of accessories like belts, scarfs, bags and footwear which is also in trend. Consider the intense competition in the market; Topshop should constantly bring innovation in the product line. Indian consumers prefer brands for the premium fashion products, comfort fittings and value for money.
(fulltext pg18) Topshop can sell its product through internet retailing via its online website www.topshop.com.
Bibliography 19 1. A business has different pricing strategies to be considered which include cost-based pricing approach or market-based pricing approach. The situation that is being explained in the simulation states of the declining sales of Thorr Motorcycles’s product, the CruiserThorr, because of its previous customers that are aging and no longer interested in what the product stands for. (fulltext pg18) Topshop can sell its product through internet retailing via its online website www.topshop.com. It has to under the pressure and adjusts its price for maintaining its customers and profits.