Entry of the Brand Kensie into My Store - Research Paper Example

Entry of the Brand Kensie into My Store My store is located at the 7th Street 90017 Los Angeles. I mostly get my merchandise from the junior department of the Macy’s store. My target market is mostly young children and young adults. I stock up trendy fashion clothes for young toddlers and also young adults. My market segment is the range of 0- 19 years. This segment is mostly made up of young children and adults who have parents that are diverse in their beliefs and are also technologically savvy.

One of my initiative is to bring in the Kensie brand into my store and observe how well it fits in my store. I believe that the location of my store on this street is ideal as most working class and middle class parents can see the store and walk in to find clothes for their children. The location is also ideal to attract more customers as they go by their schedules. My store is located near office blocks and also restaurants. It is convenient for those going to work and also those going out for lunch or dinner.

My decision to bring in the Kensie brand in my store stems from the fact that my sales and revenue have been steady over the past few years. Many customers come back to buy more junior clothes for their children. Since my store targets middle income earners, it means that most can afford the prices of the Macy brand. It is important to understand that the merchandise I sell is localized as a reflection of the location where my store is located (Los Angeles). Having offered localized merchandise for some time now, I decided to expand my product choice by bringing in the Kensie brand.

The target market of the Kensie brand is still young children. The introduction of this brand is certainly going to stir excitement and curiosity among shoppers at my store which eventually draws more customers. However, due to competition, it is necessary to note that other stores may decide to take on the same marketing strategy as me. To avoid this, it is critical that I make careful planning to ensure that my store stands out. One of my competitive advantages is the location of my store and my target market.

My strategy involves the continued sale of exclusive and localized merchandise. Increasing my merchandise by bringing in the Kensie brand is a sure way to increase my sales. One of the challenges that I have to face with my target market of the middle and high income earners is that this two groups are always seeking to get hold of the newest and most exciting thing in the market. This group is challenging and difficult to impress. This challenge is due to their love for instant gratification.

To solve this problem, I have to create exciting ways to delight and engage my customers. I have to also price my merchandise in an affordable manner. I can also put in place promotions and discounts as a way to market the two brands that I intend to sell. Offering discounts especially on the Kensie brand will attract more customers. Another strategic plan that I will put in place to ensure that the Kensie brand gets awareness is to take pictures of assorted clothes. I will then post these pictures in different social media platforms.

This strategy will reach more customers as my market segment is also technologically savvy. Works CitedSmall Business - Chron.com,. 'Target Market Segment Strategy'. N.p., 2015. Web. 28 Jan. 2015.