mkt

MKT 321

Professor: Arthur Allaway

Meiqi Liu

Oct 25th, 2018

Clothing Store

A clothing store could be a good choice epecially an all men wear store. This is in line with the location of the university of pennyslavia nearby at Chestnut street and New York law school near the locations and giving consideration to the male students who study there would be a good divergence because in comparison to women clothing lines the mens wear stores are fewer. Consideration may also be given to people that work around there or live in this street, however, for most of the working class male individuals they will be likely to shop at My Suit store or Men’s Wearhouse on chestnut street in philadelphia and the numerous men stores in NewYork like Franklin St clothing store. So, the kind of clothes that would be stocked will be mainly for the young generation of males who live, work or go to the high school and universities. Considering their age bracket, they will consist of mostly teenagers and young adults so the stock will consist of:

Sportwear and athletic clothing: the targeted population is likely to venture into sporting activities so the store will have a section for sportwear for all kinds of sporting activities like football, hockey, netball, handball,rugby, legball, baseball, karate and judo wear, ballet dancing suits, ice skating suits, cheerleading costumes for both the male cheerleaders and the manicans. Accessories in this section may include balls, bats and other required materials for the games.

Swimwear for men: the swimwear section will consist of outfits that will be worn to the pool or beach by the men and they will come in different textures and designs to suit their preferences for both sporting and pleasurable swimming. Other accessories may be included in this section like plastic balls and other swim playing items.

Casual clothing for men: this will include shirts, t-shirts and slacks and jeans which is expected the daily dress code for the target population. These will be a must have and will be changed according to the seasons and brands that are trending but must be there at all times. Accessories here may include hats and men’s jewellery.

Coats, jackets and vests: this section will include all items that will help keep the population warm from jackets of different textures and designs to coats both fur and normal to vests and other accessories like scarfs, marvins .

Shoes: this section will cover all the shoes that are required for all occassions by the population from sneakers to official shoes, to custom made shoes, to rubbershoes, to open shoes and even boots. Accessories here include socks.

Undergarments will also be included in the store to complete the other outfits.

The supplies for these will be made from the industries that manufacture these clothes in the United States and beyond through online orders and deliveries and physical contact and site visiting to select the best outfits from the given varieties and they may include Club Sofware Inc, Postskriptum GMBH, EArugby Euclide Arridor, Adrenaline Junky, Oasis Shirts, Oak Brand and Alanic Wholesale.

The store will be meant for teenegers and young adults, as earlier mentioned, who range fom ages fifteen to thirty five although people from other age brackets other than the expected will not be restricted to shop in the store as well. These according to EASI are the bulk of the population and hence the shop is expected to cater for their needs. It will thus outsource trends and current styles prefferable to this population bracket through random and periodic researches as well as social media platforms and chief informant interviews with people from both the target population and designers as well as fashion projection statictics so as to be sure to store clothes that will be relevant in the period when they will be needed. From statictics its also clear that most of these people will be employed by the time they hit fifteen years and if not the income from their parents will be enough to cater for shopping of clothes and other accessories. The store will thus target people earning from more than fifteen thousand U.S. dollars to about 99,999 U.S. dollars because people earning above that may prefer to shop on more exotic stores in America or elsewhere according to their preferences or may want custom made designs which our store can maybe only deliver on order as the target group will most preferably go with the design at the time.

The preferences of the store are also anchored on hobbies and lifestyles of the population which is most likely a free spirited attitudes and hence an easy to go outfit for the repeated movement required and adventurous momentum.

People of this age bracket are not likely to be stuck to one place but to move around, socialize, go on hikes and wild adventures, travel the world as well as research and do other educational activities as required and in this event their clothing needs will not be uptight and official to potray and image of seriousness unlike their adult counterparts and hence more casual, adventurous and flirty wear sometimes will be more appropriate.

They are also not bound by rules and dress codes and they may like to show their masculinity through outfits that are a little radical like think tops, tight jeans and other outfits as they deem fit and hence they will be given the wide range of outfits to select from. Other trends that may be thrown in from time to time will factor religion and special holiday outfits like haloween and christmas as per the recommended trends. Statement outfits may also be factored in like gay dressing code .

According to the USA basic statictics an american male is likely to spend time as follows:

Source: US statistics bureau.

This schedule helps us see what activities they engage in and hence speculate what outfit they are likely to wear and they are basically casual and sport wear unless they have special occasions like costume parties or other adventures. The store will however go a step further and provide customized outfits according to the demand whereby the customers will be required to explain exactly what they need and if it is not in the store it will be brought on order; the price range will also be revisited so the store is friendly to pockets of its target population.

VARIABLES THAT WILL BE CONSIDERED WHEN CHOOSING A LOCATION.

The two locations selected are:

Walnut street Philadelphia

And Franklin Street New York.

Having the best location for the business may be perhaps the most important thing in starting a business as the location will determine a lot of other things. The locations that I have selected depicts a lot of attractive behavior that makes it stand out over the other and some of those are:

DEMOGRAPHICS:

Socioeconomic characteristics of a population expressed statistically, such as age, sex, education level, income level, marital status, occupation, religion, birth rate, death rate, average size of a family, average age at marriage (Carlton, 1979). Demographics are various traits that can be used to determine product preferences or buying behaviors of consumers. The demographic factors of a population are very important in starting a business. Some of the factors that are considered include:

CULTURE:

Various families will want their members to dress in a certain way as per there cultural orientations or family beliefs and traditions. This is because people in a family are always expected to live in conformity with the family expectations and hence expecting them to do otherwise may be detrimental to your business. (Lipke, 2011) In New York however this trends are lost in the diversity that emerges from having a mixed population and they somehow tend to be synced into a trend that every young teenager will want to conform to. For the target population, for example unless preservative religious, they will tend to lean on to the everyday trend of jeans and t-shirts, shirts and shorts, vests and other easy to wear accessories and those are the ones that will be a must have for the store. However proper attention will be paid not to ignore the minority groups but they will be stocked in lesser numbers. This lifestyle of New York teenagers will hence give the business a proper chance of prosperity in comparison to Philadelphia. Some of the trends like the Jason Scott cloth line have however tried to sync this cultures with trends so as to bring out custom made fashion that is themed with culture yet it has a modern touch to it, stocking of this collection and distributing it to customers that need it may also go a long step in covering the culture gap especially in New York. The distribution of cultures is as shown below: (source: EASI 2010)

New York Philadelphia

AGE:

Age is also a huge factor in determining the products that should be sold. Given that the targeted population is young adults and teenagers, they should thus ensure that the business is located in a place that can ensure the population is reached (Cecily, 2007) From the statistics below, there is a clear indication of more teenagers and young adults being located in New York city as compared to Philadelphia and hence making the target number increase and enhancing suitability of the store in that location

New York Philadelphia

Source: EASI 2010

INCOME:

Income is also a huge determinant of the business whereby the stores that are put up should consider the average earnings of the population for instance: people with income of more than 15000 US dollars will be likely to subscribe to discounts and sometimes wholesaling prices that show them to an extent that you care for their spending capabilities (Sullivan, 1983)

Philadelphia New York

Source EASI 2010

From the income information above for the two locations it is thus clear that the store is better off located in New York as there is a higher potential for shopping expenditures among the male teenagers and young adults due to the higher income rate.

EDUCATION LEVEL:

Education level is a very important aspect in determining the location of a business. This is in the fact that through education conservative fashion norms are able to be dispelled and hence creating room for diversity and embracing of trends and cultures present in other population.

It is through education that people are able to decide consciously on what to wear and for what occasion. (Wilson, 2010) Education has also led to the establishment of brands and fashion statements that run most of the lifestyles of teenagers in the recent years. Education as a variable, when comparisons are run between Philadelphia and New York emerges strongly. This is because first we look at the number of individuals who are enrolled in school of the age bracket in our target population and New York is leading with high school and university students having a very high number. This then means that they will be pushed to shop more often at the store to keep pace with the trends of their peers and hence putting the location at a better position. Also the students that have attained qualifications higher than high school are many and hence they are more likely to be attracted to the fashion trend that the store is offering. Some other things that make education determinant is the infusion of culture into modern day fashion whereby educated people will be able to understand that they can embrace their religious or other cultural beliefs without jeopardizing their trends and fashion statements and since that is also part of the customized themes the store is championing for then more opportunities will lie in New York more that Philadelphia.

Source: EASI 2010

TECHNOLOGICAL ADVANCEMENT

The targeted group is also known for their advancement and hence constant use of technology based purchases and hence to meet their demands better a technological department should be set up so that they are covered and their shopping desires are met adequately. Technology can also be used in the marketing strategies as well as intertwined with various products through promotions so as to attract more customer base.(Carlton, 2015) This will thus require choosing the site that has access to basic amenities like WIFI connections and other technology equipment. Technological advancements are quite well distributed because of the internet availability in almost all parts of the United States. However, embracing of the same may differ from Philadelphia to New York whereby more teenagers will be likely to use this technology to make purchases considering their levels of education and their employment prevalence where most of them are working and may not have enough time to spare for shopping and other leisure activities.

COMPETITORS

The location also largely depends on the competitors in the area from the data availed, it is clear that there are a lot of clothing stores in Philadelphia and some even in walnut street and the neighboring chestnut street but that is not a factor that should restrict placement of the store in the area.

Here there are a number of other factors that have to be considered that will come in handy to enable the shop to stand out and some major ones are that men in some cases are criticized on their shopping and grooming desires and hence may feel a little off going to stores that are unisex in trading, also they may feel less comfortable picking out some fashion attires that are considered not right by more aged populations and hence the store will offer them a unique comfort. A place of their own where they can feel accepted and shop without being limited or criticized for their choices. (Elizabeth, 2018).

Other competitors that should be put in check are the online, regional and national brands that may be willing to deliver brands to the door step and this can be done by making sure you capture at least most of the varieties and provide delivery at no fee as the residents will mostly order from nearby as well as put up posters and advertisements that will attract them for they will be convinced to get the same products but at a cheaper rate. Identifying gaps in the market may also be very important as this will help know what exactly can be introduced that will give your business an edge above the rest of the competitors and hence give it a good head start and a chance to grow fast. If comparisons are run between Philadelphia and New York in terms of competition, New York will pose a great risk to the business, one of competition rather than cooperation between businesses because of the huge number of businesses dealing in clothing and even more specifically male clothing. However, the business can always create new strategies to ensure its survival and growth. This will be done by the strategies as named above and more as deemed fit to make the business thrive. Philadelphia may however offer a more smother road for survival as there are not as many businesses and the competitors may be able to cooperate given their numbers.

Another aspect of competition that is likely to cause a turmoil though and that makes New York more preferable is the market and demand whereby even if Philadelphia has fewer businesses the market is also a little bit limited and this may result in competition unlike in New York where there are very many residents and hence there is a chance for more customers and hence comparatively fair business competition and uniqueness will be able to easily shift focus to the business.

CONVENIENCE FOR THE CUSTOMER.

Businesses pride themselves in satisfying customer demands. This is in so many areas like the basic interaction between the sales representatives and the customers whereby all the customers will be assured to leave the store happy with the services (Schememer, 1982). for this to be rolled on, the store will most preferably have only male attendants of the same age bracket as the clients as they are likely to understand each other better. Convenience will also be offered in the availability of parking space in or near the store premises so the customers do not have to pay heavy levies to park their vehicles and hence they will be attracted to the store. Lastly convenience will be offered by proper addressing of customer issues whereby the store will be on the forefront to help customers sort out issues inside and outside the store that are related to the business so that they can cultivate a trusting and friendly environment to ensure customers feel more comfortable to shop at their store since all their needs are catered for and hence they feel appreciated (Bartik2012).

Convenience to the customers can be assured anywhere in the two locations as a site will be looked for that satisfies all the business needs as stipulated above. However it may be more expensive in New York that Philadelphia to guard and assure parking spots or solve customer issues outside the working premises because of the huge number of customers expected to visit and also other matters that are intertwined with the law that may require to be sorted differently like parking levies or the picking of normal trends and transforming them into codes for different cartel groups and other criminal related activities.

GOOD SITES

The location of the business is also dependent on the site where the business is to be located in that the area has to be in a place where it is easily accessible to the target group and offers convenience of shopping and maximum value to both the customers and the business owner. It should be in an area that allows for expansion and should be not encompassed with high levies and taxes. Other consideration include that the area should be checked if it qualifies for more funding from governments or if it can attract investors if any are needed as well so as to ensure proper location without necessarily outstretching funds and hence costing other items on the budget (Bartik, 2012).

The data above for instance shows us the trends in growth and other dimensions that should be properly considered before the business is set up. Taxes for example are higher in New York than in Philadelphia but still the income per capita remains very high in New York as well as the household income and the projections for future growth also hold more potential for New Yorkers hence it may be a good idea to locate the business in the place where there is assurance of growth as this will only increase the income base and hence the customer base for the business.

SECURITY

If the area is insecure; goods will be stolen and insurance will be reluctant to insure the shop. This will then cost the business to a large extent. Selection of location should therefore take focus on the security of the area for both the business and the customers that will be visiting the store (Kent, 1979). The data below significantly shows why New York could be a more preferably location for the business as it is relatively safer from crimes that are likely to pose security problems to the business.

Source: EASI 2010

LOCAL LABOR:

Source: EASI 2010

From the above statistics, two things can be derived; first is that there are quite a number of people in jobs that do not require specific dress code. Most of the young generation is likely to be concentrated in jobs like art and design, media, sports and entertainment as well as sales as these do not require the expertise higher than what they study as they work and hence they will be a more likelihood of customers to the store as compared to official clothing for that age bracket. Secondly, acquiring labor will not be a big issue because the likelihood of finding people with expertise to work in the store is quite high and especially in New York.

Some of the popular competitors in the selected location will be: Steven Alan cooperation, Jason Scott, Alter and Pops popular clothing.

STEVEN ALAN