For A Retail Organization Of Your Choice Evaluate The Elements Of Its Retail Marketing Mix, In Terms Of The Effectiveness With Which They Are Used To Appeal To The Core Target Market

2593 words - 11 pages

Learning to make a difference

MKIB: 230
Retail Marketing

Coursework assignment:
“For a retail organization of your choice evaluate the elements of its retail marketing mix, in terms of the effectiveness with which they are used to appeal to the core target market”

ZARA – flagship chain store

List of Contents
I. Introduction: 2
II. Background 2
III. Retail Marketing Mix 3
1. Merchandise assortment 3
2. Location 3
3. Price 4
4. Store design and Visual merchandising 4
5. Advertising and promotions 5
6. Customer service 5
IV. Competitors 6
V. Conclusion 6
References 7
Appendix I………………………………………………………………...…..9
Appendix ...view middle of the document...

The most common elements of each marketing mix are product, price, place, promotion. In the theory of Varley and Rafiq, they are using some more variables which can give us a better picture why and how Zara became such a successful company. That was also one of the reasons for choosing this theory. The variables that are going to be discussed in the report are: Merchandise assortment, Location, Price, Visual merchandising, Store atmosphere, Customer service, Advertising, Promotions, Personal selling.
II. Background
Zara is a flagship chain store that is part of Inditex Group whose owner is Amancio Ortega – a poor man in the past, started business just with $83, now the richest person in Spain. Headquarter of the group is located in A Coruna, Spain. Over there the first Zara store was opened in 1975. In 1980 Ortega decided to start expansion and change the manufacturing, design and distribution process. That is how the first store in Porto was opened. United States, Mexico, France and Greece followed in the next 15 years. Now there are about 1500 Zara stores in more than 70 countries. For the company 200 designers are occupied and the manufacturing is all based in Spain. Each one of these designers produces 1-2 styles a week. That makes Zara offering more than 11,000 models every year. Zara holds around 86 % of Inditex total international sales, which is significant percentage for just one out of 7 stores part of this group.
III. Retail Marketing Mix

1. Merchandise assortment
The product is very important marketing mix variable. And how Varley and Rafiq write in their book “Principles of retail management” It’s a mean by which a retailer is able to differentiate itself from its competitors.”
Zara offers men, women and kids clothing from newborn to the age of 45 and each one of them is divided on Lower Garment, Upper Garment, Cosmetics, Shoes and Complements. Recently Zara started producing large sizes clothes with equivalent to 16 UK size. Interesting thing about Zara’s products is that it makes its own designs, paying a great attention for understanding the customer’s needs and latest taste of clothes. After figuring out that it produces them and distributes them itself. The greater part of Zara’s products are manufactured in Spain and just a small part is produced outside of Europe. Zara unlikely its competitors prefer to manufacture the products in its own factories rather than using an outsourcing somewhere in the Asian countries where the labor force is significantly cheaper. Zara is producing new clothes throughout the year and permanently changing its displays in the stores. Products in each store vary continuously and the goods are retained in the store for no more than four weeks. If this still happens then this product is sent to the store located more often in developing countries. Process is like a carousel, where the customer is offered with a great variety of choices. This is also the way through permanent change...

Other Essays Like For a Retail Organization of Your Choice Evaluate the Elements of Its Retail Marketing Mix, in Terms of the Effectiveness with Which They Are Used to Appeal to the Core Target Market

Compare and Contrast the Representations and Ideologies Operating in an Adventure Game and a Simulation Game of Your Choice. in What Ways Do They Indicate the Target Audience for the Games?

816 words - 4 pages Compare and contrast the representations and ideologies operating in an adventure game and a simulation game of your choice. In what ways do they indicate the target audience for the games? There are many ideologies and representations in video games in the contemporary world. These representations and ideologies are what attract the target audience, as the audience can relate to the game through these representations and ideologies and feel

Evaluate the Marketing Techniques, Research and Analysis Used by One of Your Selected Organisation and Make Original Recommendation for Improvement

1960 words - 8 pages decision within the Tesco’s marketing department they do not always consider their customers needs however they always end considering customers rather than expenses etc to remain profitable in the future. For example, Tesco could successfully develop a new product which has a high demand in its early stages of life however it will not last forever and therefore they need to develop this product to make it better and bring it back to the market

"The Trendy Green Drink" The Marking Techniques On The Packaging Arizonia Green Tea Has Used To Appeal To Its Target Audience

995 words - 4 pages Having seen the packaging, the consumer picks up the drink out of curiosity, while other iced tea drinks have flashy fonts or colors for packaging, 'Arizona' Green Tea maintains its oriental look, providing a contrast that attracts the eye of the consumer and sells itself. The tea comes in a bottle with a light green opaque film around it. The film is illustrated and the top to the bottle is secured with a paper seal colored with an intricate

M1 Explain Methods Used to Identify the Target Market for the Proposed Business

1236 words - 5 pages BTEC Level 3 in Business Unit 36 Starting a Small Business Assignment M1 (a) Explain methods used to identify the target market for the proposed business (M1) Write a report for your potential investors, in a short report format, which details how you will identify your target market, your report should include; • Details of market research, primary and secondary • Competitor analysis • Evidence of market trends • SWOT and PEST

Target Retail Anlayisis

4518 words - 19 pages departments in all." ( this entitles a vision to consumers that the company is only growing to help benefit its consumers. The icon of Target was created by the then director of publicity, Stewart K. Widdess. His team was assigned to develop the name and define the new retail store, they come up with “Target” and envision a classic bullseye logo. Reason behind this bold choice was to represent a marksman’s goal of hitting the center

Retail Marketing

2283 words - 10 pages RETAIL MARKETING SINAV SORULARI 7. 1) Intensive Distribution: Intensive distribution aims to provide saturation coverage of the market by using all available outlets. For many products, total sales are directly linked to the number of outlets used (e.g., cigarettes, beer). Intensive distribution is usually required where customers have a range of acceptable brands to choose from. In other words, if one brand is not available, a customer

Retail Marketing

3705 words - 15 pages size SMEs have greater flexibility to adapt to market changes and innovative projects.This, together with the particulars of its management are often subject to special public policy. 3. ROLE OF ENTREPRENEUR. Entrepreneurs are very important for the world economy and to be a good entrepreneur roles you must have and enforce are: 1. Identify the steps you could take immediately to operate your business more efficiently, especially regarding

Using the Data and Your Economic Knowledge, Evaluate Different Ways in Which the Government of a Country Which Imports Large Quantities of Wheat Can Try to Stabilise Wheat Prices Within the Country

624 words - 3 pages Using the data and your economic knowledge, evaluate different ways in which the government of a country which imports large quantities of wheat can try to stabilise wheat prices within the country. (25 marks) Price stability is when prices in the economy don’t change or don’t change much over time. This means that an economy would not experience inflation or deflation. One of the ways in which the government could stabilise wheat princes is

Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing...

2223 words - 9 pages Introduction Children form a significant consumer group in their own right and, in addition, influence the purchasing choices of their families and friends. They represent a huge market offering significant financial returns to companies. Children are also the adults of the future so building a strong bond with a child could lead to significant customer lifetime value to a company. However there are inherent risks in marketing to children

Marketing Strategies of an Organization and Its Effectiveness

660 words - 3 pages profits to the company. Marketing plays the same basic role for all producers of goods, irrespective of what they produce. Marketing also plays a similar role in connection with the distribution of services. A financial institution for instance expects its marketing staff to: provide information about its market and the kind of services its clients/customers would need, and provide channels through which these services are made available to

Retail Market in Saudi Arabia

574 words - 3 pages the country is expected to transition with an increasing number of working-age Saudi Arabians by 2030. The analysts forecast the Retail market in Saudi Arabia to grow at a CAGR of 7.45% during the period 2016-2020. Covered in this report The report covers the present scenario and the growth prospects of the retail market in Saudi Arabia for 2016-2020. To calculate the market size, the report has taken into account the revenue generated

Related Papers

Usa Market In Terms Of “Consumer Trends” And The Effects Of “Competitive Rivalry In The Retail Sectors”

3757 words - 16 pages 1. Profile the U.S. Market in terms of “Consumer Trends” and the effects of “Competitive Rivalry in the retail sectors”. Identify the specific and general driving forces behind these trends. Due to the credit-crunch many commentators point out that the global consumer mindset is tuned to recession-spending.The main point is that US consumers who used to be very materialistic,now tend to spend less money on their purchases.And there are

Marketing Mix Elements & Retail Petrol Outlets

1784 words - 8 pages obtaining the volume of sales to enable viability. CONCLUSION This report has served as a basis for introducing the four P’s of the marketing mix, being product, price, promotion and place and outlining how these elements can be applied to retail petrol outlets. A product, consisting of three layers being the core, actual and augmented being anything tangible or intangible that meets the consumers needs in the exchange process and and found

Four Elements Of The Marketing Mix

1496 words - 6 pages What does the phrase marketing mix mean? What is the purpose of the marketing mix? The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization. After a target market is selected

Mcdonald’s Need For Localization In The Company’s Global And Local Marketing Mix In Order To Appeal To The Indian Culture

1003 words - 5 pages had very low sales and adjusted their product accordingly to the culture of the region.  It’s important to remember that a little research will go a long way when entering into a foreign market even if you are not selling beef like KFC, they overlooked what the people of that market segment prefer or dislike and suffered losses and set the company back a step with establishing themselves in India.  (Goyal, 2007) McDonald’s opened its first