Saturday, September 28, 2019

Consumer behaviour Essay Example | Topics and Well Written Essays - 1250 words - 5

Consumer behaviour - Essay Example In this regard, the firms will formulate a marketing mix that reaps maximum benefits given the diverse market environment and the organizations resources (Lewis and Sappington, 1994). This brings to the fore certain marketing strategies like segmentation, targeting, and market positioning. This paper will seek to establish whether the marketplace can be inclusive to all consumers. Moreover, this paper will try to establish whether the market should be inclusive to all customers. This paper will focus on the fashion world in order to draw meaningful insights on the aspect of inclusivity and exclusivity of the marketplace. It is important to note that the scope of this study will be on the inclusivity and exclusivity of consumers within the fashion market place. Other markets will therefore not be focused on due to the dimension that this paper will take. The fashion market is a diverse and dynamic field that is constantly changing to accommodate the dynamic tastes, preferences, and needs of the clientele (Johnson and Myatt 2006). Players in this industry have to be abreast with the new trends as well as new emerging markets. This kind of reactiveness makes these firms to remain relevant in the fashion industry (Doeringer & Crean, 2006, p. 54). It is imperative to note that, the participants in the fashion industry have their own predetermined market. The goods that they produce are meant to serve a particular set of consumers. These firms rend to identify a niche and work to satisfy all the specifications that are required in that niche market (Dalgic, 1998, p. 4). In this regard, the success of a certain product in this niche market is because of the desires, wishes, or needs of a liberated customer and the consequence of marketers’ compulsion over an isolated individual. The advantages of adapting niche marketing entailed g rowth prospects, value formation and apparent value, revenues, augmented sales, prices and marketplace stakes, client

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