Marketing Implementation Strategy Of A Retail Store
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Marketing Implementation Retail Project Upbeat – The Fashion Studio T.V.Swamy road RS Puram Submitted by Vidya. K Cpg05bm119
The retail store chosen for conducting this study is “UPBEAT – The fashion studio”. The reason for choosing this shop for the study is the uniqueness of the products and services it offers and also the support and cooperation extended by the proprietors. Before looking into the marketing implementation of this store, it becomes essential to gain understanding of the 3 C and the 4 P structures, which would give a better perspective while looking at the marketing implementation as a whole. The 3 C Analysis Customer The target segment of upbeat is the youngsters falling within the age group of 18 – 25, mostly men. It is the students and youngsters of the upper middle class and the higher end of the socio economic classification that the store targets. Almost all the college students in the city frequent the shop for their apparel and other requirements. There are a few lower end customers as well who are loyal to the store for the low cost T-shirts priced around Rs.100. The typical customer of Upbeat is the one who looks out for the latest in fashion and trends, and who is ready to spend money to keep himself in vogue with the hottest craze in the market, and the fact that Upbeat is constantly up to date with the latest trends, brings them back to the shop again and again. The other customers of Upbeat are the men who want to differentiate themselves from the others and carry a “funky” image about them. These are the kind of people who opt for tattooing and body piercing services provided by the shop and thus, the demand for these services have constantly been on the rise in the past two years.
Company The store was started 6 years back in 1999. It is a partnership with two partners – Neil and Dhaval. Started as a small roadside shop 10* 12 in size, the store is now over 2000 sq.ft in area. The store has a reputation among its clientele as the “best” place to find the latest in fashion and all this reputation has resulted due to the viral marketing from the customers of Upbeat. Competition According to the proprietors, there is no competitor for Upbeat. Even when it was started way back in 1999, there was no competition for the store as there were no stores selling western wear in the city. Today, though there are a lot of other unbranded apparel shops selling western wear in the same location, it enjoys a distinct advantage as the first mover in the market. The proprietors also take pains to see that they do not shelf products that are available in other shops. They further said that they take products off the shelves if they knew it was available in other stores. The high assortment of products, accessories and the junk available in the store also adds up to its advantage. Above everything, Upbeat is the only store in Coimbatore offering body piercing, tattooing and body jewelry. In all these aspects, Upbeat enjoys a distinct advantage over its competitors. The 4 P analysis Product The Store offers a wide variety of products and services. * Apparels for Men – T-shirts, Shirts, Formal wear, Denims, Cargoes, sportswear
Apparels for Women – T-shirts, Kurtis, Skirts and trousers * Undergarments – Jockey ( Men) * Accessories – Belts, Bags, Sunglasses * Junk – Chains, Bracelets, earrings, cigarette lighters, badges, body jewelry (Exclusively for men) * Services -customized T-shirts and denims, Tattooing and Body piercing All the apparels shelved in the store are unbranded. The reason given by the proprietors for not shelving brands is the restrictions that might arise while shelving popular brands and the limitations with respect to the style and the variety. If the store dealt with brands, it would be able to shelf only three or four brands, while there is no such restriction when it comes to local and unbranded clothes. Unbranded clothes also offer a huge variety and constantly come up with newer styles according to the changes in fashion and preferences. This is not the case with branded clothing. All the apparels are sourced from Mumbai, Bangalore, Tirupur and Thailand. The accessories and the junk are mainly sourced from Mumbai and Bangalore. Mens undergarments are the only branded products available in the store, with Jockey having a small slot for them. Upbeat is the only store in the city to offer tattooing and body piercing services. Apart from these, the store also offers the customers the choice of getting their clothes customized. The customer can choose their own designs and get it painted on their clothes. Price One another reason for the shopkeeper to sell only unbranded products is the profits he gains out of it, and with the store selling only unbranded products, the kind of profits that is