Marketing Concept Paper
Matilda Jane Clothing Apparel
Marketing Concept The marketing concept can be defined as the idea that an organization should strive to satisfy the needs of customers, while also trying to achieve the organization’s goals.1 The marketing concept is about matching a company's capabilities with customer wants. This matching process takes place in what is called the marketing environment. Businesses have to take into account their competitors, as well as changes in the political, economic, social and technological environment. The before mentioned factors must be taken into account as an organization tries to match its capabilities with the needs and wants of its target customers. An organization that adopts the marketing concept accepts the needs of potential customers as the basis for its operations. Success is dependent on satisfying customer needs. These needs are successfully satisfied by designing a marketing program, as well as having the correct combination of product, price, promotion and place. Matilda Jane Clothing collection for girls is a privately owned company that has been in operation for approximately three years. Matilda Jane manufactures unique girl’s clothing with each product being custom designed and sold similar to art; a limited number of each design is produced. Matilda Jane does not have a structured marketing concept in place. Inadvertently, a marketing concept is slowly developing through the sales strategy that Matilda Jane is using to grow its business. Thus, their marketing concept would be to supply a one of a kind limited collection of clothing; justifying a premium price point. They have been successful since their conception three years ago in satisfying their customer, as the clothing is in high demand. As an example, in February of this year, Matilda Jane decided to host an "online" Art Show for those who could not attend one of the two Art Shows held in US locations throughout the year. This would allow a wider base of customers to purchase unique "Art Fair Pieces" without having to attend an actual Art Fair. There was such a buzz created among fans of this clothing
collection, that the Matilda Jane website actually "crashed" and customers were unable to access the online boutique. Denise DeMarchis, owner of Matilda Jane, was informed she would need a dedicated server in order to better serve her growing customer base. The computer issues were addressed; and to make up for the problems that occurred the option to purchase clothing online became available for 72 hours. Within the first 30 minutes of the sale, Matilda Jane experienced a volume of website "hits" greater than that which is often caused by the "Oprah Affect." In essence, if Matilda Jane Clothing had been showcased on the Oprah Show, the company would have experienced LESS traffic than it did by word of mouth among existing clientele!!
Segmentation Market segmentation involves aggregating prospective buyers into groups that (a) have common needs and (b) will respond similarly to a marketing action. Organizations go to the expense of segmenting their markets when it increases their sales, profits, and ability to serve customers better.2 Segmentation is most often applied to markets, but it is equally relevant to
distribution channels and customers. However, similar principles of how to segment apply to all three. The process of segmenting and targeting markets involves five key steps. Before you can implement these steps you need to identify a market need. Identifying the particular need is typically done through research. Once the need is established, the first step would be to form prospective buyers into segments. There are many different was to do this, some of the more popular categories include: geographic, demographic, psychographic, and behavioral situation. The geographic segmentation variables include region, city size, statistical area, mediatelevision, and density. The...
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