Market Analysis

Market Analysis - Market Analysis Market Research The Green...

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Market Research – The Green Label is a division of TJX devoted to bringing our target customer off- price clothing while reducing the environmental effects of hazardous production wastes. This target customer is similar to the target market of TJX. We are targeting mostly females ages 25-54 with middle to upper-middle income and at least a high school diploma. are attracting women who shop at high-end department stores and specialty stores. Since our product attracts a social demographic of those who care for the environment, we decided to begin distribution of the new green products to an area of the country where environmental issues are of greatest concern. We at the Green Label believe that by bringing in these brands to the store, we will be able to attract many shoppers in the San Francisco area into the Marmaxx stores that might not consider shopping there without the allure of shopping eco-friendly. There are approximately 808,976 people currently residing in San Francisco according to the U.S. Census Bureau. Within that population, 49 % are women, which is about 397,402 women. About 258,311 women between the ages of our targeted age group 25-54 reside in San Francisco. According to the U.S. Census Bureau 167,902 people or 21 % of our total target population is within mid to upper income. According to a study done by the Organic Trade Association, over the last decade organic sales have increase by an average of 20%, and this rate is expected to remain steady over the next 20 years. A census done by AARP showed that 70 % of consumers would like to incorporate environmentally friendly brands into their shopping experience. In order to avoid niche marketing, we believe we have picked enough of a potential customer base in an area where this product will be in highest demand. By breaking down the entire population into concentrated market segments, we have effectively positioned our market to benefit the sales of our product for TJX. Assessment of the Competition Our three main competitors are Target, Wal-Mart, and Kohl’s. They all use private labels to provide value apparel offerings. Also they are well known and can use promotions and sales, which would reduce the perceived value of off-price retail. All of the stores always have low prices. The stores are also involved with the community and have a loyal customer base. We are a stiff competition though. We offer brand names at off prices. The other stores are not all over the world like TJX is. Some are only in North America. Our competition doesn’t react well to changes in prices and the economy. In order to maintain our reputation as a stiff competition, we will remain globally expanded, and keep track of the changing economy. We don’t need to respond very much to their strengths because we always offer low prices and we don’t need to use sales or promotions. Also, our new section will make us more involved with the community and make people more loyal to us because we are helping the environment. We offer quality,
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This note was uploaded on 11/08/2010 for the course SOCL 250 taught by Professor Linneman during the Spring '08 term at William & Mary.

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Market Analysis - Market Analysis Market Research The Green...

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