Who is Topshop target market?
In 1974, parent company Burton Group made Topshop a standalone store. Within two years, the brand’s primary target market became 13 to 24-year-olds, it opened 55 standalone stores and garnered £1m in profit. The brand was so successful that Burton launched its male equivalent, Topman, in 1978.
What market is Topshop in?
Topshop is a private limited entity which operates within the UK retail and fashion industry.
How do Topshop promote their products?
One of the marketing tools of Topshop is making customers aware of its products, promotional schemes, and fashion trends. Topshop has initiated the following Integrated Marketing Communication (IMC) strategy. It enables Topshop use of several communication tools like publicizing, sales promotion, and public awareness.
What is an example of a target market demographic characteristic?
2) DEMOGRAPHICS Examples include age, gender, income, nationality, ethnicity, religion, etc. These are usually the first targeting characteristics that brands utilize. That’s because they are 1) relatively easy to obtain via third party data and 2) the primary way that brands purchase media inventory.
Who are Topshop’s customers?
Most of Topshop’s clothing and products are targeted primarily to young women in their 20’s and early 30’s that are fashion forward and always looking for the hottest trends. They carry many different clothing lines that include: collections, mainline, premium, boutique, unique, designer, and emerge.
What came first Topman and Topshop?
Topman was a UK-based multinational men’s fashion store chain founded by Burton (later renamed Arcadia) in 1970. Along with its women’s clothing counterpart Topshop, Topman was a subsidiary of the Arcadia Group when it went into administration in late 2020. The brand was purchased by ASOS on 1 February 2021.
What brands did Topshop sell?
The British online fashion retailer has purchased Topshop, Topman, Miss Selfridge and HIIT for £265m and the stores and websites of those brands are set to close down.
What market segment is based on where the target market lives?
Geographic segmentation
Geographic segmentation divides consumers into segments based on where they live. You can go as deep as you want here, dividing people by nation, state, region, county, city or neighborhood. Geographic segmentation recognizes that people are influenced by the places they live and work.
What is the purpose of Topshop?
Topshop (originally Top Shop) is a British multinational fashion retailer of women’s clothing, shoes, make-up and accessories. It had around 510 shops worldwide – of which some 300 were in the UK – plus online operations in several markets.
What kind of marketing strategy does Topshop have?
The brand have a clear promotional strategy, realising that the hype behind digital and social media is rising and that the growth of micro-targetting techniques is making it easier to market “products and services to speak directly” to the consumers “individual needs” (The Business of Fashion, 2013).
Why is Topshop considered a viable market segment?
The Topshop’s manager also expresses the view that if a particular group can be served profitably by a firm, then it forms a viable market segment. Then marketer should develop a marketing mix to serve that group.
Who are the competitors to Topshop in the UK?
The threats are from the competitors like Zara, H&M and French Collection. Like Topshop, they are all fashion clothing retailers, the competitors may have lower market shares in Britain than Topshop, but their sales are mostly from the overseas market, and their brands have been accepted by the local people.
Why is Topshop important to the fashion industry?
Topshop has a good understanding of their customer needs and wants according to the market research. And also, Topshop can take advantage of today’s fashion trends after they entered the market in 1974, but it also has to analyse the current situation, as the financial crisis has deeply influenced the retail industry.