Mark's Work Wearhouse Presentation Slides
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This document discusses Generation X consumers born between 1967-1979. It provides an analysis of their characteristics such as their household compositions and influence of technology. It then introduces Mark's Work Warehouse and conducts an internal consumer behavior audit and SWOT analysis. Alternative strategies are considered for Reitmans, Sears, and Mark's. In conclusion, Mark's strategy of targeting Gen X consumers through innovative products and excellent value has led to business performance success.
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2) Trends affecting consumer behavior and the different types of consumers in new product adoption.
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Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
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- Marketers manage demand and operate in consumer, business, global, and nonprofit markets. Marketing affects the entire customer experience.
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Creating customer value is the driving force behind a company's goals, and identifying the appropriate customer value measure is not an easy task. Adding services, relationships, and experiences differentiates company offerings in the market. No real customer value exists without a close relationship with customers to understand their needs and provide sophisticated customer interactions.
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1. Motivation is a highly dynamic construct that is constantly changing as needs and goals evolve over time. New needs emerge as old needs are satisfied, driving continuous human activity.
2. Abraham Maslow's hierarchy of needs proposes that higher-level needs become the driving psychological forces behind human behavior as lower-level needs are met. This framework is useful for marketers in developing ads tailored to specific need levels.
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Promotional mix
The document discusses different elements of a promotional mix, including advertising, personal selling, sales promotion, public relations, and direct marketing. It provides information on each element, such as defining them, their objectives and roles, characteristics, and examples of techniques used. The document also discusses factors to consider when setting an optimal promotional mix, such as the target audience and product life cycle stage.
Consumer buying behaviour
The document discusses consumer buying behavior and factors that influence purchase decisions. It covers various models of consumer behavior including the economic model, learning model, psychoanalytical model, and sociological model. It also discusses Maslow's hierarchy of needs, characteristics affecting consumer behavior, motives, habits, the buying process, and factors like culture, social groups, and personality that influence consumer decisions. Finally, it analyzes the Indian consumer market and classifications based on economic status.
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Repositioning strategies
Generic Brand Repositioning Strategies
1. Image repositioning.
2. Product repositioning.
3. Intangible repositioning.
4. Tangible repositioning.
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This presentation is an introduction to the role of IMC in marketing.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
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Understanding the complexity of how to cost-effectively plays a major part in achieving a successful and profit-driven business. In a multi-faceted industry, there are many important components that need to be fully understood when calculating a selling price. Determining all the costs that make up a cost sheet will be the key to a successful and long-lasting business. But costing too high can cost a business out of business and costing too low will result in a financial loss. This seminar will explain these important facets.
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This document discusses Michael Kors as a luxury lifestyle brand. It provides an agenda covering an overview of the company, its competitive strategies, marketing approaches, brand profiling, perceptual mapping, focus group findings, and conclusions. Key points include that Michael Kors operates retail stores, wholesale, and licensing segments globally. It has strengths as a rapidly growing brand led by a renowned designer. Focus group research found that Michael Kors customers are mostly young females who see the brand as fashionable and value design, exclusivity, and self-expression.
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Mark's Work Wearhouse Presentation Slides
- 1. Generation X Group 6 Born between Nicolas Tassopoulos 1967-1979 Mona Mohammad Chris Somos Iouri Vorobiev Shadab Zaman
- 2. 1. Introduction to Generation X 2. Analysis/Characteristics of Gen X 3. Introduction to Mark’s Work Warehouse 4. Internal Consumer Behaviour Audit 5. SWOT Analysis 6. Competitive Review 7. Alternative Strategies 8. Conclusion/Questions
- 3. • Generation X: Born between 67’ and 79’ – 6.5 million Canadians – Smack in the middle • Term was coined in 1964 • Became popular in the 90’s • Very influential subculture
- 5. • Compositions of households – Marital status – Social/Class Structure • Advertising – Effects on Gen X – Lack of Trust – Direct Shopping Experiences • Global Perspective
- 6. • Social and Marital Status – Different roles in the household – Decision Makers • Boomerangers – Men Vs. Women – Money and relationships – Discretionary items – Contribute in household decisions • Typical household decision maker
- 7. • Technological Advancement – Technological change – Technology a part of daily routine – Created a need for technology • Influence on the market – Online shopping – Google, YouTube, and Amazon
- 8. • Durability over designer labels – Targets a conservative market • Mark’s Work Wearhouse – Targets working individuals – Does not spend millions on advertising – Clothing that is meant to be worn – Wrinkle free shirt
- 9. • Mark’s employs Vision Critical • Research methods include: Focus Groups Depth Interviews Ethnographic research
- 10. • Mark’s value proposition speaks to Generation Xers • Consolidated targeting efforts on Gen X in early 2000s • Strategy of innovation is here to stay
- 11. In the Marketing Mix • Innovative products • Excellent value proposition • Honed distribution; both physical and online • Targeted promotion to support the other 3 Ps
- 12. Business Performance *Courtesy of Canadian Tire Annual Reports 2007-2009 • 80% of sales can be attributed to persons aged 30-50
- 13. • Most recent campaign’s results “very positive” • Measured through proprietary analysis of data including; Exposures Web Analytics Loyalty Sign Ups Sales
- 14. Strengths Innovation Socially Responsible Weaknesses Increased Expenditure Product Assortment
- 15. Opportunity Market Trend Outsourcing Threat Market Obsolescence Risk Competition
- 16. Marks – Largest Industrial apparel and footwear retailer – Second largest pants & jeans retailer – Sixth largest women’s apparel retailer Reitman’s Sears
- 17. • Women; 25-45 • 370 locations • Leading retailer of women’s apparel and outerwear • Everybody, every body • Self-image
- 19. • Men and Women; 25-45 • 122 Full-line department stores • Number one department store • Several brands; several strategies • Ideal-self • Models
- 21. Celebrity Endorsement Increase brand awareness Differentiate among similar products Product Placement Change purchase intention Wider exposure
- 22. • Generation Xers are united as a subculture – Thrift of time – Financial resources – Eye for value • Mark’s capitalizes on Gen Xers • Excels in innovation versus competition • Future expansion utilizing successful foundation of Gen X consumers