Sunday, February 23, 2014

Week 4 : Target Market

I create my fictional business for this class.
My business is online fashion multhishop  "Cherish Closet."




Background

Cherish Closets is an online fashion mall that appeals to many segments of women, from teens to thirty-year olds, in the American marketplace. Since the online mall carries Asian style clothing, shoes, and accessories in a multi-shop environment, it appeals to suitable segments and a few target markets.


Target Market

Cherish Closets appeals to Asia women in their teens to their thirties living in the U.S., as well as all women interested in Asian fashion products. The three main segments are Asian women who are interested in Asian fashion and who shop online. For those who fulfill these main segments, the company will form a multi-segment marketing strategy. 

Fashion malls must satisfy all of their customers’ wants. Given that Cherish Closets targets teenagers and young women, the business must fulfill the teen desire for cheap, pretty products as well as twenty- and thirty-year-old women’s desires for high-quality products. Both segments prefer online shopping to acquire a company’s goods and service. Though individual online shopping malls are still unusual in the American marketplace, the swift and steady rise in the population of Internet users suggests that people will shift to more conveniently shopping online and have products quickly delivered to their homes. Altogether, it will be good niche market.

 

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