Topshop is a British chain of clothing stores that operates in more than 20 countries. It is part of the Arcadia Group, which also owns a number of other retail outlets including Burton, Dorothy Perkins, Miss Selfridge and Wallis.
Topshop is one of the leading fashion stores on the high street market and is very popular amongst teenagers and the younger generation. Topshop has a very wide range of products which vary from dresses and footwear, to casual wear, jeans and tops. Topshop also has a range of underwear, beachwear, pajamas, handbags and accessories.
Topshop’s range is mainly aimed at teenagers, students, and young people in their 20's and early 30's. The general style of clothes is highly fashionable, trendy, 'young' and unique from other leading high street outlets. Topshop also has a nice range of ‘timeless pieces’ - clothes that never go out of fashion, such as jeans, coats, plain tshirts, wool jumpers, plain black 'work' trousers and shirts etc. (http://www.ciao.co.uk/Topshop)
Its primary sales come from a range of products including clothing and fashion accessories, and is mainly known for its women's clothing, with Topman having been created in the late 1970s to cater for male customers. The business has also expanded into the online fashion retail arena. (wikipedia.org/wiki/Topshop)
Type of market they opperate in is defined as the Fashion market. Topshops typical consumer will be the middle class as you can relate to the type of products they sell and the price of sale. They fashion itself is unique as it varies.
The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are "most likely" to purchase your offering. If done properly this will help to insure the highest return for your marketing/sales expenditures. Depending on whether you are selling your offering to individual consumers or a business, there are definite differences in what you will consider when defining market segments (http://www.businessplans.org/segment.html)
MARKET SEGMENT OF TOPSHOP!!
A market segment is a group of customers from the market that have similar sets of characteristics.
REFFER TO TABLE:
Relate below part to segmentation table
Topshop also needs to be market orientated. They need to know what the needs and requirements of the specific target customers are and what they need to do to be more customer focused. Topshop will need to use market orientated tool such as market research and market testing to achieve being market orientated.
Another aspect of marketing is that Topshop; is to be able to segment its target market. Segmentation is is the process of dividing a market up into different groups of customers, in order to create different products to meet their specific needs. This is known as market segmentation. They also need to analyse what convinces people to buy things so they also have to analyse buyer behavior. The most obvious type of segmentation is between customers who buy distinctly different products.
By using questionaires Topshop will be able to identify various aspects of segmentation for e.g. age, gender, income.
It will also raise awareness of potential customers which will have Topshop be organized to satisfy thier needs. This will also give the customers and public a good impression about the brand, Topshop.
Market segmentation is the process of dividing a market into different groups of customers, in order to create different products to meet the specific needs of these customers. Topshop may use this to realize that their aim is to get more customers in stores which are to target all types of different customers. To benefit from this they need to divde these in to groups this will allow Topshop to create better customer service and satisfaction. They can also get to know their customers better. By segmenting groups this...
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