MODE

MODE D A N I E L L E M I L L S C R I S H A N A M A N I G A N S I M H A I S R A E L B R I T TA N Y B A R K E R K R I S TAM U R T O N

MODE

The penetration of the market is large and growing but there is a large demand within the market for price conscious products with style. The market purchase frequency is seasonal based with daily to weekly usage.

The market is largely influenced by seasonality. For each new season a new line of products is lunch that convey the trend forecasting results for that season.

The market customer demographics and psychographics fit with our target customer extremely well. A female in the age range of 17-24 with a low income and middle to lower social class, living in a small household in an urban area that is located on the western coast, she has some college to a degree and is a full time to part time student and or employee. She needs something comfortable, versatile, and stylish that expresses her on a budget.

MARKETING SITUATIONAL ANALYSIS

Pricing is very important to this market’s consumer. The market has yet to present a quality option with style at an economical price.

As technology progresses the market will continue to grow with enhancements in product and fabric manufacturing, which in turn should increase the ability to offer higher quality products with a lower selling cost.

This market is highly competitive because the consumer doesn’t shop with brand loyalty in mind. The competition is very concentrated and has not branched out into multiple market segments. There hasn’t been any major movement within the market currently. The market’s competition has a financially healthy future based on the current recession and the forecasts of the economic growth. The competition anticipates a continuance of the current growth in profits for the next couple years.

The cultural belief system in the market is currently focused on being economically conscious, environmentally aware, and community driven.

The values are acceptance, accountability, resourcefulness, and versatility. As the consumers life becomes more hectic and time scarcity increases the market will start to incorporate that shift into their products. Such as the lifestyle change of time becoming more of a commodity, which is leading to the development of products that are capable of serving multiple purposes for the consumer.

MODE

THE COMPETITORS

Competitors of MODE would be mainly Urban Outfitters, and Anthro-­ pologie. These stores can be located in shopping centers or free-­ standing stores(Ours will be free-­standing only), and are geared to-­ wards a similar age demographic as MODE. MODE will stand out from these stores because we will offer prices that are closer to that of H&M or forever 21, but will have the same quality as a piece by Urban or Anthropologie. MODE will have to make connections to have its clothing manufactured at a cheaper price in order to pull this off.

Mode will also feature a seasonal catalogue with exclusive discounts(ex. Receive $50 off a purchase of $250).

POSITIONING STRATEGY ADEPT DEVELOPMENT Situational set up: Having a stylish look that express your personality is an es sential.

But you don’t want to break to bank to get it.

Benefit: MODE offers an affordable and stylish way to express your self.

Support: MODE is cheaper than anywhere else but still offers a quality and stylish products.

Unique Experience: Only MODE gives you such a low price for stylish self-­expression.

Pricing: No one costs less than MODE. Overall Takeaway: MODE is invested in helping young women express themselves in a stylish and affordable way.

Tone: Strong understanding of the consumer and take stock in their lives.

MODE has the lowest prices.

MODE

MODE makes products the consumers want and or need and makes them accessible.

MODE POSITIONING STRATEGY

BRAND EQUITY PYRAMID

MODE offers a one Top Shop with stylish affordable self-­expression.

MODE is affordable self-­expression.

MODE has the lowest prices.

MODE makes products the consumers want and or need and makes them accessible.

ADVERTISING STRATEGY Online website (and newsletters, special offers), exclu-­ sive seasonal catalogue and advertisements in magazines such as Instyle, Lucky, and Glamour. Establish a Fash-­ ion Week in cities we are located in. this will give us pub-­ licity and spread positive word of mouth.

MODE is located in freestanding stores across the US in substantially sized cities;; starting in the biggest cities and expanding as needed.

MODE has the lowest prices.

MODE

MODE makes products the consumers want and or need and makes them accessible.