Launching a new line of clothing always means that a retailer faces new requirements and conditions. Even if one has already achieved significant success in the similar line, it does not mean that the received experience will be suitable for the new one. Every line is oriented on a specific social segment which differs in wishes, tastes, and demands. According to this fact, if retailers who were successful in a high-end adult clothing want to introduce a new line of clothes for children, they should review the entire management strategy that they have used before and develop a new marketing plan which will correspond to new demands. One should conduct a research which will cover the number of issues, including the analysis of a customer segment, the current situation in the market, threats, opportunities, the leading brands, and the competitive advantage of possible opponents.
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The first issue which one should observe is the targeted audience. As mentioned above, a retailer has achieved great success in selling high-end adult clothing and accessories. However, the new line which one wants to launch is oriented only on children. One should clearly understand that despite the similarity of these two lines, there are numerous specifics which make them absolutely different. Hence, number one in this list will be the material used in clothing manufacturing. Children’s skin is more sensitive than the adults’ one; thus, parents pay attention primarily to the material of clothes (Kotler & Armstrong, 2012). All other criteria like the brand, price, and design go after the first criterion is satisfied. Thus, it is necessary to know which material is preferable for children's clothing. Without qualiy material which satisfies parents’ demands, it is impossible to provide the high-end children's clothing.
The next issue of the research should give an answer to the current situation in the market. This issue will cover numerous aspects, such as the brand, possible threats, opportunities, and competitors. When potential customers choose a required material, they pay attention to a brand and price of a particular product. These two factors are relatively connected because the same price will be appropriate for one product and absolutely inappropriate for another which does not have a brand name (Kotler & Armstrong, 2012). For instance, sneakers of a famous brand like Adidas or Nike may cost a hundred dollars or more, and this price will be acceptable. However, there is a little possibility that a customer will pay one hundred dollars for the quality sneakers of a less famous brand. Thus, it is necessary to find out which children’s brands have the highest popularity today and why parents prefer to buy exactly these products. For example, some choose brand clothes because they have better quality than all other similar products. On the other hand, others give preference to a product’s design or style. Hence, it is important to identify which brands are in trend today and what is important for people when they choose clothes for their children.
There is also a need to analyze possible competitors as well as brand and product quality (Kotler & Armstrong, 2012). Even if the product has the best quality ever and introduces the new attractive design, it will be difficult to receive a large audience if competitors’ products have already captured customers’ loyalty. Consequently, it is necessarry to determine competitors’ impact on the market and customers’ opinion about the competitors’ products. This issue will help to identify strong and weak sides of the competitors’ management campaign. The received results may be used to identify what attracts customers the most and what they want to improve. Thus, retailers should design their clothing line, taking into consideration the received data about competitors’ work.
Finally, one should identify possible threats and opportunities that retailers may face after the launch of the line. This issue is more global than the analysis of competitors and customers’ preferences. It includes the shifts in the market, the political and social situation in a country, the level of unemployment, the increase in prices, and other factors. Besides the direct impact on the product, there are countless indirect factors which may also cause challenges even if they are not connected with the targeted market. Thus, it is necessary to identify what exactly may cause an influence on the line well-being except competitors.
The conducted research will provide the general analysis of the market, competitors, and customers. The received information will be used to prevent possible challenges and identify opportunities which will give advantages over competitors that keep the leading position in selling clothes for children. All searched data will be separated in accordance with the marketing plan to provide the detailed answer for each question that had been made before the research. As a result, it will improve one’s business strategy, giving retailers additional information about the product and how it can be successfully promoted in the market.
Free Essay Sample «High-End Children's Clothing Research»