Multichannel Menswear Online ShopTarget Market For a Multichannel Menswear Retailer Online ShopAge range of our target market is Men 25-35 like to dress well and are trendy. Starting their own business or work for a company. Hold at least a Bachelor?s degree. The price range is Moderate/better. Live in Los Angeles, California.The psychographics and lifestyle segments for our target market would be E-litists?couples who look for status and bragging rights within the green (environmental) movement without concern for prices, shop for organic foods and earth-friendly products, listen to National Public Radio, and drive hybrid cars. (FRM335)Arjomand 1 Their interests and hobbies are spending time with the family, playing sports, going out with friends, going to events and concerts.This would be a viable market segment for the company, because they would spend money, their interests require them to wear clothes similar to what we carry at our store. Their lifestyle matches the brands we carry.The two competitors I have chosen would be Nordstrom and Kenneth Cole.The target market for both Nordstrom and Kenneth Cole are very similar to ours. The Age range is a little broader for our competitors for example Nordstrom is a department store therefore it covers a bigger market. Carrying brand products, moderate/better budget. The major categories of menswear listed are Casual Wear, Outerwear also accessories.Kenneth Cole is it?s own brand and that?s the only brand they carry at their stores, Nordstrom carries brand names and some private label. Usually the promotions they offer to customers on their websites is their sales but Nordstrom also gives it?s loyal customers coupons based on their monthly or yearly purchases. I do think their promotional strategies are effective to sell menswear since they are just discounts and coupons.^^^^ CompanyTask 2: Executive SummaryWrite a 1-4 page Executive Summary updating your V.P. about your progress for this season on the areas you?ve been working on:? Marketing Research and Analysis? Forecasting, Advertising and Visual Merchandising? Merchandise Assortment: Tailored, Designer and Outerwear? Merchandise Assortment: Casualwear and Accessories.? Fiber, Fabric and ColorYou will want to touch briefly on each topic to report on the highlights and important conclusions you have made this session. You may want to also include images to illustrate your report. This is not an executive summary for a business plan, but to inform your boss about your work. MLA FORMAT
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