Exam (elaborations)
MNM3708 ASSIGNMENT 2
- Course
- MNM3708 (MNM3708)
- Institution
- University Of South Africa (Unisa)
This ASSIGNMENT 2 entails best answers, guidelines, workings and references.
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By: lulekanimaluleka17 • 2 weeks ago
By: georgiarowe • 1 month ago
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INTRODUCTIONCorporaTess is a retail shop has been in existence since 2018 located at the heart of Umhlanga
Rocks that mainly sells clothing line focusing on career driven women between the ages 25-50
who are emerging and at the height of their respective careers. The brand focuses on 4 clothing
line which are The Classics, The Style Star, The Trendsetter and the Bohemian. These 4 lines are
aimed to address different women and capture their different and unique styles. The mission for
CorporaTess is to provide high quality clothing that dresses all types of women for their respective
careers and keep them looking formal and stylish. The goal for CorporaTess is to define the what
workwear is for corporate women and to shape the future of formal wear.
On this assignment we look at identification of consumers where we will be discussing the
techniques that are available such as Mass Marketing, Concentrated Marketing and Differentiated
Marketing. We will be discussing how to develop the overall strategy by looking at controllable
and uncontrollable variables.
1 IDENTIFICATION OF CONSUMERS 3.1
In identifying customers, the retailer makes use of target markets which give a direction
to the type of consumers the retailer is targeting to sell its products or services to (Berman
et al. 2018:84). There are tree techniques in identifying the target market, namely:
1.1 Mass Marketing
This is when products are services are are sold to appeal to a larger market and not specific to a
certain group of Consumers. This strategy aims to obtain higher volumes of sales at a lower cost
(Shaw, 2020). Pick nPay as a retailer does Mass marketing for its products as anyone in any
group can be a potential market for the retailer. CorporaTess is not making use of this strategy.
1.2 Concentrated Marketing
This is when a company targets a specific market or niche market to sell their products or services
to. This type of marketing allows the retailer to put emphasis at to how their products and services
can meet the defined needs of their target market (Indeed editorial Team, 2022). Louis Vuitton
1
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