On Carneby street basically everybody is a competitor. The store could move to Regent street where there is a larger flux of people passing every day. This would increase the possibility of sales and bring another client segment, the one represented by tourists.
A third recommendation that LA Sugar might take into consideration regards its pricing policy. The store is famous enough to attract clients and its policy regarding the renewal of the collections and the constantly changing interior and windows contributes to making clients loyal. However, this is not enough, considering that an important part of the targeted clients are represented by students. Taking these factors into consideration, LA Sugar might increase its sales periodically through offers such as "buy an item and get a 25% discount for the second one."
The main fashion icons which influence the fashion style promoted by the store include Paris Hilton, Eva Longoria, Cameron Diaz and Lindsay Lohan. All of them are often the heart of the parties and the clothes they are an important part for creating this "party girl" image. Party glam and youthfulness are key words when describing LA Sugar's identity so perhaps the interior design of the store should be considered from this perspective. Colours such as black and gold could be used in order to create an L.A. club like atmosphere.
All in all it can be stated that LA Sugar uses various marketing techniques in order to function efficiently, such as the correlation with the celebrities acting...
Since the supply is being specifically restricted, only a price increase could occur. Thus, creating exclusivity creates value to the seller. The third reason why exclusivity is valuable is that it creates differentiation (Finkelstein, 2009). Differentiation is a key driver of value for many products and services. Exclusivity does not equate to differentiation, but it does increase the perception of differentiation, simply by virtue of the fact that the product
Merchandising and inventory management are key success factors for firms in the retail industry. The two ideas are tied together. Merchandising reflects in the product mix a store offers, but also in the ways in which that product mix is presented. Inventory management in part reflects the merchandising needs of an organization, but it also reflects on the optimal profitability that a company can have. Merchandising tactics allow the store to
To do otherwise would create problems with the company's accounting. Cosigned goods are also included in the merchandise inventory (Elliot & Elliot, 2004). Even though they are out on consignment, they are still a part of the goods that belong to the company (Elliot & Elliot, 2004). If these goods have not been included in the company's inventory, it becomes difficult to account for their sales and can cause serious
Fashion Merchandising Fashion Group International Website for Students of Fashion Merchandising With a major in fashion merchandising, it is important to keep up with the latest trends in the industry. The website for The Fashion Group International (FGI) provides a great deal of free content and offers additional features for members. FGI was founded in 1930. According to its website, FGI is a "global, non-profit, professional organization with 5000 members in
Merchandising as a Key Revenue Source in the Film IndustryIntroductionThere is no doubt whatsoever that the film industry has become more competitive over the last few decades. To continue being relevant in this increasingly competitive field, there is need for studios as well as filmmakers to consider new revenue sources. One such revenue source happens to be film merchandising. One example of a film that deployed merchandising as an additional
Accounting for Merchandising Business: Purchase Discounts Purchases Discounts Purchase discounts are used in credit purchases by sellers to encourage buyers to pay before the credit period is over, as they reduce the total amount to be paid. According to Kieso, Weygandt and Warfield (2011), some companies consider purchase discounts as losses, and use the net method to account for them in financial statements to correctly report an asset and the liability that
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