Top shop marketing plan essay
Executive SummaryTop Shop is one of the leading retail brands known globally for its most up-to-date styles in clothing and other fashion accessories. Earlier only a low price clothing outlet primarily for the teenagers, Top Shop is now the hottest fashion clothing brand with its stores keeping the latest fashions and the exclusive and extraordinary designs that appeal to all age and socio-economic groups. The management has very carefully followed a perfect blend of cutting edge, highly fashionable styles with affordability by introducing new products and services in various countries worldwide under the new company called ‘TOPSHOP plus'. Realizing the importance of doing so, after repositioning itself, Top Shop will embark upon a carefully planned journey of simultaneous product and market development strategy as ‘TOPSHOP plus' Be it Kate Moss's exclusively introduced designer range, in-store ambiance, Style Advisor service or its sponsorships for the young and aspiring fashion gurus, Top Shop stands out today amongst many other competing brands. The management must, however, bear in mind that while expanding into so many countries with its every increasing range of products, it would have to keep a very strict check on its supply chain. Furthermore, regular innovations are a key to success for this mighty brand. For as this growing company approaches maturity, it would run a greater risk of the competitors catching up until it commits to innovations that are hard to imitate or are at least time and resource consuming. Terms of ReferenceAim of the ReportThe report covers discusses ‘TopShop plus' an extension of the Arcadia chains conception and launch as an expansion to strategic measures taken since the time that transformed itself from being an ordinary low price clothing retailer for the teenagers to a hot fashion clothing hub for all age groups. It also brings forth various marketing promotions being undertaken by the company to maintain its current position and to gain on the market share. The in depth analysis helps understanding how each of its activities have been attempting to attract customers through provision of maximum value to them and not to the company only. The later part also suggests that despite being and extraordinary fashion retailer, there are a few areas where Top Shop would need to pay special attention in order to ensure long term growth and a sustainable bottom line. Scope of the ReportAs one of the businesses of the Arcadia Group, ‘TopShop plus' strategic marketing analysis has been provided in this report keeping in view all of its products and services. The services that make the shopping experience more of an entertainment are just as important a factor in Top Shop's success as are products that directly produce revenue for it. In a nutshell, the report analyzes Top Shop as a whole through its separate products and services which also act as tools for marketing for the company. 1. The CompanyWith an initial reputation of being a tacky low price clothing outlet, Top shop ‘plus' has now earned the fame of a leading store when it comes to fashion clothing. The success, however, came only with a change in its strategy; by going ‘upscale'. Top Shop ‘plus' will be one clothing retailer that stocks the most up-to-date fashion clothes and accessories before any of its competitors does in the market. Whereby the major focus earlier on was on price competitiveness, Top Shop ‘plus' products will arrive first in the market and will be of high quality and very low comparative price. Over time, Top Shop ‘plus' will come to be known not only as just the fashion accessory provider but much rather a trend setter especially with its in-house designer brands and those exclusively introduced and introduced by fashion industry leaders. Due to its various marketing efforts, innovations in the business and exclusive services for its customers, it is now the biggest and the most...
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