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retail market segmentation

retail market segmentation

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Blue Magic Ppt. Presentation Transcript

  • 1. Blue Magic Store The Retail store project Jason Santos Madel Cañada Kristy Lasugas
  • 2. Introduction Objective To determine the retail mix and the Market segmentation of the Blue Magic Retail Store in Sta. Lucia Mall. Retail Format Retail Mix Customer Service- They have enough sales people to assist customer. The customer service is not basically how they perform the task but also how they arranged the product? The customer service is high ; they are committed to the customer for setting their information only, to their retail store. The sales person has presentable uniform. Store Display and Design According to the store Design and Display of Blue Magic Retail Store, their items are arranged to its category that makes the store presentable and comfortable. The Display is accessible for the customer to look and view the product. The lights affects the atmosphere of the store and change moods of the customer who’ll views the retailer.
  • 3. Merchandise Assortment The Merchandise Assortment focused in gifting item. Blue Magic is deep in assortment. The arrangement is presentable and comfortable. They also offers product like bags, perfume and etc. because it it’s not only for gifts also for treating themselves. Advertising and Promotion The Blue Magic is not engaged to television media but the strategy in promotion is the retail store gives discount sale to their items especially to events and holidays. They also participate in internal occasion in the shopping mall. Location The location is accessible for it’s convenient to find by the customer. The location has its target market within the area, although, blue magic is the second option customer coming in the entrance of phase2.the location is far from its competitor. Pricing The Blue Magic retail store in terms of pricing ,they are high in price . the operational cost, sales people and higher cost in stocking lots of merchandise makes prices so expensive. The trade off between the price and the services they offer to their customer is another reason by higher price.
  • 4.
    • Market Segment
    • Bases for Market Segment
    • Demographic
    • PASIG CITY
    • BY AGE
    3,644.28 30,369 12% 40 - 44 5,833.28 36,458 16% 35 – 39 8,204.94 45,583 18% 30 – 34 11,010.3 52,430 20% 25 -29 9,966.06 55,367 19% 20 – 24 7,311.9 48,746 15% 15 – 19 TARGET MARKET TOTAL POPULATION PERCENTAGE AGE
  • 5. BY GENDER MARIKINA BY AGE 3,131.88 26,099 12% 40 - 44 5,366.08 33,533 16% 35 – 39 7,290.18 40,501 18% 30 – 34 10,075.59 47,949 20% 25 -29 9,854.28 54,746 19% 20 – 24 7,823.1 52,154 15% 15 – 19 TARGET MARKET TOTAL POPULATION PERCENTAGE AGE 42,074.4 140,248 30% FEMALE 90,093.5 128,705 70% MALE TARGET MARKET TOTAL POPULATION PERCENTAGE GENDER
  • 6.
    • BY GENDER
    40,617.9 135,393 30% FEMALE 83,736.8 119,624 70% MALE TARGET MARKET TOTAL POPULATION PERCENTAGE GENDER
  • 7. Mostly 25 – 35 years old of age purchased the product in Blue Magic retail store because of the capacity to spend and they are working, so they can easily spend their money by not conscious to budget their money. The Male purchase more than to female. They are generous to buy gifts to their friends, relatives, special someone and for the occasional events. Male purchased branded products that will satisfied them to give it to someone that they would not make them feel disappointed. Single is greater than married because they are not conscious with their budget. Single much purchase the product in Blue Magic for their special gifts for their friends, special person and also special someone. Single has more freedom to decide for their own money unlike married person that should consider family expenses and must be favorable for both parent .
  • 8.
    • Geographic
    • Antipolo 633,971 Cainta 289,833
    • San Mateo 184,860 Rodriguez, Montalban 223,594
    • Marikina 391179 Pasig 505,508
    • Psychographic
    • The customer of Blue Magic retail store is mostly high spirit and smooth seller they are not conscious with their budget and they purchase a product for luxury and satisfaction for their self although this is not their functional needs this is for its self reward.
    • Need segment
    • The reason why customers purchase a product of Blue Magic retail store is based for gifting to someone . They purchase its for owning a product or a self reward for themselves.
    • Behavioral
    • They purchased product casually when there is event by one, by two’s or three. Their target market are easy-go-lucky person, the person who are capable to purchased the product.
  • 9. Buying Decision A customer purchase decision process is limited problem solving because it can moderate amount of effort and time to make a choice decision. The customer decides to buy a product to the Blue Magic because they trust the Blue Magic for the items they offer and the benefits they gets. Most of the customer is satisfied with their previous experience within the store and product. Buying Decision Process Need Recognition The customer of Blue Magic retail store is ambiguous because of the feeling that they need the product because our target market are those who in love and give inspiring to others. It is a psychological need because they recognize its need by self rewarding for them.
  • 10.
    • Information Search
    • They limit the customers information search by giving mostly specific information. It is also about their names that is unique and easily to remember and image of the store.
    • Evaluation of alternatives
    • Store Total Store Characteristics
    • Blue Magic 49
    • Chuckles and Doodles 38
    • Choice of Alternatives
    • The evaluation of alternative has the highest evaluation, it shows that Blue Magic has more advantage over Chuckles and Doodles .
    • Purchasing the Merchandise
    • The customer of Blue Magic retail store intend to purchase product because of the different option of sizes and colors.
  • 11.
    • Post Purchase Evaluation
    After purchasing the products of Blue magic, the customer uses the product as display items and gifts item. If the product was purchased as gifting item and the person will be given likes the products it will brings satisfaction to the customer because the emotion inserted to the product was effort, time and intensity to the product. Buying Roles In customer buying roles of Blue Magic they are initiator, influencer. They are initiator and influencer because commonly they recognize what they want by the influence of others like friends, family and etc. they are also a buyer because they set their minds what they intended to buy in a retail store. Retail Market Strategy
      • Retail Market
    The Blue Magic retails store has its target market. For its potential customer around the radius of Sta. Lucia mall. The customer went to Blue Magic to purchase a product as gifting, items for occasional purpose and event. The chuckles and Doodles have its same target market and assortment and they both compete each other
  • 12.
      • Sustainable Competitive Advantage
    • They have customer’s loyalty because customer keep buying gifting item to the store even though the operation cost is high and there is satisfaction to the product. The sales people was committed to the customer because they give information and offered the product that would also like the product.
    • Recommendation:
    • We recommend to the Blue Magic Store is to add advertising promotion that makes people to know their product especially with their new product item.