In this task/report, i have done the following:
1) Explained the characteristics of the target markets of different fashion retailers.
2) Explained the policies of different fashion retailers in terms of their retail service offer.
3) Analysed how the characteristics of different target markets in...
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Business 2010 QCF
Unit 31 - Fashion Retailing
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Unit 31: task 1
In this task I will be explaining the characteristics of the market of two different fashion retailers of
my choice, one being a low end retailer and one a high end retailer. I will also be explaining the target
market segmentation of both the fashion retailers. The two fashion retailers that I will be discussing
is Primark and Tom ford.
Identify two different fashion retailers that are different from each other
Primark
Primark initially is an Irish clothing and accessories retail shop which is now popular in the Europe of
having almost 170 stores including the UK. Primark is a low end retail shop which sells products at
cheap prices. Cheap prices are determined on the quality of the product’s being sold. Primark is well
known for their pricing, they’re aim is to make products affordable for all age groups, from children
to seniors. Primark also tries to beat all other retailers by offering more products, more designs for all
age groups. Primark have recently started to sell car essential another items such as charging cables,
mini deodorant, wireless speakers, packs of chewing gum, sweets etc. This puts Primark at the top of
all of the low end retail shops as they provide much more category of products for a low end retailer.
Tom Ford
Tom ford is a high end brand and retailer, which is mostly shopped and visited by those who earn
medium to high salary. It is considered to be for those who are mostly interested in a lavish and
luxury lifestyle which once again earn between medium too high. Tom ford was initially founded by
Thomas Carlyle, named his brand “Tom” Ford. He is one of the wealthiest celebrities, he gained fame
by working with Gucci and Yves Saint Laurent being the creative director, and once again those
brands he worked with are also high-end retailers. He is also well known for being a film director
which he two Oscars for a film called “single Men” in 2009 and “Nocturnal Animals” in 2016. Beside
Thomas’ work with other high end retailers, he managed to create his own luxury brand called “Tom
Ford” which now has up to 100 stores internationally including rich cities such as London, Dubai,
Milan and Tokyo. Tom Ford’s products are aimed at high class and wealthy people. They are very
successful at reaching out to their customers and consumers. This is by using their target marketing
and segmentation.
Age
Primark targets a wide age group ranging from babies to adults. One of Primark’s main target
audience would be young adults, in this case Primark has been able to target this age group by being
a ‘throw-away’ fashion retailer. Primark is able to target this specific age group through their
affordable prices and trendy clothing.
28+. Tom Ford targets those of age around 28 and over as at that age, most consumers may be
financially stable depending on their job to purchase their products on a regular bases. Other high
end brands such as Gucci, they tend to target those of age 0-65, however, this shows that Tom Ford
has a higher class by targeting adults only.
Gender
Primark - Male & Female & Tom Ford - Both, mainly female.
, Unit 31: task 1
Personal characteristics e.g. height and size
Primark creates products for all age groups starting off from babies to seniors, their target market is
mostly families, and therefore they make all sizes of products in order to reach their target market
goals. Also those who shop at Primark are interested in fashion and like to buy bargain item.
Tom Ford mainly target adults, therefore they create products that fit those above the age of 28.
However, not all 28 year olds will be the same size and height, therefore, Tom Ford takes
measurements of a sample of 28 year olds and try to average it out with size starting from S to 3XL.
This allows all sizes of 28 years old to fit into their products. Tom ford is a Wealthy and high class
customers that seek luxury lifestyle
Socio-economic factors (income)
Primark creates all sorts of products, they’re best marketing technique is the pricing method that
makes their products affordable for everyone. Therefore, Primark mainly targets those who are not
financially stable but would like to stay trendy and in fashion.
People who purchase Tom Ford products seek the luxury lifestyle because they can afford it due to
their income.
Cultural differences (e.g. ethnicity)
Primark - Those who value their money and have bigger plans with using it. Some religions teaches
they shouldn’t spend money on unnecessary stuff such as expensive and luxury items. Therefore
some ethnicity are taught to respect their money.
Tom ford -Some people have been bought up by a rich family which only purchase high quality and
lavish items, therefore all they know is designer.
Cultural influences e.g. fashion themes associated with pop music trends
Primark usually tries to create designs similar to high end retail fashions. Therefore, some people are
influenced by the way certain celebrities dress, and Primark offers products very similar to those
expensive branded clothing.
Some people who shop at Tom Ford may be influenced by celebrities or adverts including a celebrity
using their product such as their perfume, make-up, clothing etc.
Geographical: Cinema, sport
Primark tend to open their stores on high streets even though it’s a low end retail store. However,
they still tend to break through the market with their affordable products. Primark is visited more
than all other retail shops on the high street.
Tom Ford is a high end fashion retailer, therefore they will only open their stores in the capitals,
which is why they have many stores in London, Dubai, Milan, Tokyo, New York etc. This way, Tom
Ford makes sure they are visited by their target market as most rich people shop in capitals and high
streets.
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