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Local Market Identity (Example)

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Students Name: Course: Tutor: Date: Local Market Identity Market research is an activity or study organized to acquire data and information concerning target markets or customers. It is a key factor in ensuring competitiveness over competitors. It includes opinion and social research and it is the stepwise collection and interpretation of data collected about individuals or organizations using statistical and analytical techniques of applied social sciences which are used in decision making. This paper focuses on the market experience of Prada Nike and Chanel in Colorado market women and men accessories such Luxury handbags dresses shoes and jewelry ("Chanel Brand Analysis"). The store invests heavily on quality products and high standards store furniture that attracts both middle class and first class individuals to buy from it. Most of the products are attached to an iconic person increasing its demand. Works Cited "NIKE's Target Market Today And Tomorrow - Market Realist." Market Realist - Investment Research & Analytics marketrealist.com/2014/12/nikes-target-market-today-and-tomorrow/. (Aaker D 1996). Building Strong Brands. Simon & Schulster. (1996). "Chanel Brand Analysis." Wakib Ullah wakibullah.wordpress.com/2012/11/05/hello-world/. [...]

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Now that you've learned the importance of market research, it's your turn to get outside and investigate. Select a shopping destination and neighborhood near you or in a nearby city. It can be a local neighborhood, downtown area, or niche shopping district. (No shopping malls, please.) Next, select three notable or interesting stores to enter and report on. (Local stores are preferred, no corporate/chain stores.) This will help you expand your opinion and taste level of what is physically in store, versus looking online only. A) Written Assessment Write a minimum of one page about your market research experience. After exploring three stores in a shopping district, answer the following questions about your findings: What is the name of the area that you visited? Where is it located in proximity to where you live? (Near or far?) How do you reach this area? (Bus, driving, walking, bike ride, etc.?) Is this shopping district more corporate, with stores like Macy's or Banana Republic? Or is it a small area, with local shops? What stores, restaurants, parks, and coffee shops exist in this shopping district? Name at least three destination points. Which stores did you enter for your market research? What types of silhouettes and color stories did you see in store? Do they coordinate with the season? Is the merchandise in line with current trends? Or does it offer its own style? Based on what you saw, describe a style and target customer for each store you entered. B) Visuals Photograph a minimum of five images and attach them to the bottom of your written assessment. (Or disperse the images creatively throughout.) The images can be a variety of outside and inside the boutiques. (Be careful of taking pictures inside of stores—that may not be allowed. Ask a manager first before photographing the store.) Purpose To gather resources, inspiration, and on-location experience in your local market/community

Subject Area: Fashion

Document Type: Paraphrasing

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $15

Words 550

Pages 2

Completed in 1 day

Expert Danielle21

Client Review

good

Positive
03.19.2017

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