Opening a business in the fast-growing retail industry can be demanding and rewarding. It is important to provide goods and services that meet the expectation of the consumers. The success of the fashion industry relies on the ability of retailers to possess a comprehensive knowledge of consumers, market and trends of the business. Also cover the application of the functions and principles of developing business practices.
My study includes understanding the scope of marketing, managing and operating the retail business. It examines the importance of different views and role of marketing in retail to succeed. This also explores the concepts of brand personality and communication tools including the advantages and disadvantages.
The additional data has been collected from different sources such as books, databases and articles. The theoretical framework that has been chosen consist the marketing segmentation, the Marketing Mix Model and functions, consumer behaviour and a female behaviour analysis.
I. Nature of the retail business
Bespoke Boutique offers a variety of special occasion dresses and accessories within the affordable luxury fashion clothing range and concentrates on classic styles that have ability to be worn in every season. In the world of fashion it is necessary to change the stock due to the changing of tastes and seasons but by choosing a classic style I can manage the ongoing cost.
As a small business the brand approach is very important naturally; the qualities make it interesting, unique and specific in accordance with the customers’ taste. The product offers durability and exclusiveness to meet the expectations of the consumers. The combination of clothes and accessories means that the customers are able to see the beauty of the products. The collections are more interesting as they keep on refreshing even though restocking less frequently.
Bespoke Boutique is procuring distinctive and remarkable goods...