Marketing refers to all the process of analysing the customer’s needs and wants, development of a product or services that specifically meets the customer’s expectation and the process involved in the getting of the product or the services to the targeted customer (Kotler, 2000, p. 15). In order to carry out an effective marketing, some strategies are put in place to have an appropriate product that fully meets the needs of the customer and for the firm to achieve its goal of maximizing sales for the shareholders by reducing the operation overheads. The management have to carefully define their target market, marketing mix and strategies to use in order to fully utilize the available opportunities. The hush store has applied the marketing strategies in performing quite well in a competitive market.
Target market refers to a homogenous group of clients whom a particular company wants to target by developing a product or services that suit to it. A target market is identified to assist the management to focus their effort in development of a product for that selected group. This increases specialization, efficiency and, hence, the productivity of the firm. For the targeted customers, there will be increment in the quality of the product as the production department will be more specialized because their target market is great; their needs are the part of the production team. For the Hush retail stores, the target market is young population of thirty years and below. They stock clothes and all related items for young children. The store has also entered into the market of stocking of bridal maids dresses to tap the increase on the growing market of people having weddings.
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The retail mix or the marketing mix of the retail shop can be defined as the controllable variables. The retail chain is putting in place to serve the target market. In broader marketing concept they are also referred to as the 4 P’s of marketing, they include the product, place, promotion and the price (Kotler 2000, p. 58). The marketing mix assist in product development and all other processes. It is involved in getting the product to the targeted market. The management of Hush store have employed their unique retail mix to serve them. The following aspect is the critique of their retail mix detailing their possible strength and weaknesses. The marketing mix for hush collection include having the right products of the clothing stocked, their appropriate location and the distribution channels as their appropriate place, the promotional strategies employed and the price set.
Products are the different selection of the clothes that the stores stock. Their products are well selected as they have three trends in their products. This makes their product unique. The store ensures that the cloth they stock fit their customers in sizes by collaborating with tailors who help getting the appropriate size. The management has a policy to make sure that the products do not stay in the store for long time in order for them to be always unique to customers, hence, ensure there is always a demand. The store stocks exclusive merchandise as per their location, and they tailor them as per the customer’s feedback which put them ahead of their competitors. Hush stalls seem to have fallen short of the following in the issue of their products, the point that once the products run out are not reordered, cut them of some revenues that they should get from having products always available. There is no clear link on product development and prior market research on their targeted customers; this may not make all customers satisfied.
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This refers to the physical location of the product and all the process involved in getting the product to the targeted customer. The management has chosen the location wisely by having their store at Osborne where there is a wide variety of boutique meaning more customers with similar needs will be visiting the store and there is the best human traffic. The management has increased the reach of the product by having it in more than one location. The management also get into considerations the customers feedback in choosing their location as they brought their store back after customers requested to have it back to increase their reach to them.
The promotion methods employed take care of the targeted market and have served them well. The management has made use of technology by having a well-designed website and over 4800 people on their Facebook page and Twitter which are cost-effective compared to the old methods. The reliance on the old customers’ positive feedbacks in private communication with their friends has a higher chances of bringing new customers. Their staff have a good product knowledge which they can use to promote the company when being off work. The store has also benefited a lot from the fact that it offers personal selling which is interactive by having the personal touch. The store seem to have fallen short of the following, their failure to use direct marketing is denying them chances to get more customers.
The management has perfected the art of having a competitive price compared to their peers in the market; this has helped them to maintain their market share and the margin. The price set for bridal is set higher as the targeted customers have no choice as is a basic need at the time needed. In price setting is not clear of the methods that guide the management, if the price is set higher than what the targeted can afforded.
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The management can increase their sales and market penetration by carrying more market research to become consistent with the market trends of demand. They should have the bridal clothes available at all times to avoid turning customers away. Introduction of personal selling should be incorporated to offer explanation on usage.
From the discussion, Hush store is employing the marketing mix professionally leading the management to have a quite number of market share. This is evident from the interview as the firm has a sizeable market share. The line of specialization has minimized the competition on their specific market, thus they can have lower prices compared to their peers, as they enjoy the economics of large scale as they buy in large quantities. The use of technology is a good initiative as is cost-effective unlike the conventional promotional media like magazine, newspapers which are quite expensive. All marketing specialization and mix have made the firm stand out among the many firms in the market.