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It is targeting to cater to the online shopping needs of modern females of UK, by offering the next generation trends in the fashion segment.
The UK is recognized as one of the leading markets for manufacturing and evolution of the fashion in the global arena with textile industries producing 8.5 billion pounds of finished goods (Fashionunited, 2009). As of the year 2010, the UK fashion industry has been valued at around 21 billion pounds (Guardian, 2010).The recession and the slowdown in the markets all over the globe, created a down trend in the industry. Further slowdown happened in this particular sector, as more and more consumers tried cutting their expenses. Also, the continuous fear emerging out of the slowdown in the Euro zone and possible chances of a double dip recession has continued to impact the economy as well as public spending for the fashionable clothing sector (Centre For Retail Research, 2012). This has led to the retaliation of fears contributing to a possible bleak outlook for the UK fashion and garments sector. Also, there has been a unique factor that has been realised and noticed in this particular industry for the year 2011. The online model of purchase, which has been prompted by extensive promotion for the online model of shopping has started to cannibalize the in store sales. This has further impacted and hampered the sales that are happening in stores for the entire year of 2011 (Centre For Retail Research, 2012). Objectives The high end ‘New Waves’ is trying to act as a platform for providing a collaboration between the new and emerging pool of new designers as well as the fashion industry of UK. The primary focus of New Waves online model is to act as an online window for the fashion conscious consumers of UK and introducing them to the next big thing that is going to happen in the fashion industry of UK. They are making efforts to aim for a 65% recall from the total target segment, within a period of 6 months duration. It also is trying to achieve the objective of promoting itself as a national level clothing brand in the UK Market. Strategy Segmentation Marketing segmentation is an important and vital role, which is employed by all organizations large or small and is considered as an extremely strong weapon in identifying the target consumers (Charles, Hair & McDaniel, 2011, p. 260). New Waves, in an attempt to promote itself as a national level brand in the UK market are essentially targeting the modern fashion conscious female consumers of the UK zone falling within the age bracket of 18-36 yrs. Targeting The modern generations of consumers, who are mostly falling within the specified age group, are increasingly becoming tech savvy and are more increasingly inclined towards the internet. So, it will be very much essential for the brand to target and communicate as well as interact with the consumers in order to make the brand’s presence felt online to these young consumers. Positioning In an effort to communicate the brand well in the minds of the modern consumers of UK, New Wave should increasingly use a combination of strategies and tactics for promoting the concept online. The best way to make this happen is to use a number of effective online promotional tactics. Tactics and Actions New Waves can utilize a variety of online promotional strategy and techniques in an effort to market its platform and communicate effectively to the young target segment. In an effort to communicate with the young fashionable modern consumers, New Waves should think of making its presence felt by tying up and collaborating with various online fashion magazines like MC Magazine,
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