A market segment is a group of people with similar needs and characteristic, such as age, gender or life-style.
2. the key elements of the marketing mix are product, price, promotion and price. It is important to have a balance because the company ensures their products reach the market segments and helps the business remain competitive and extends its market sh ...view middle of the document...
Its position in the market for clothing that is relatively high priced because of quality and individuality.
4. Ben Sherman uses traditional distribution methods such as its own stores, independent fashion stores, and department stores. Its own stores is where the brand is strongest but requires investment in property, stock and sales people. Independent fashion stores offers a unique and more specialised sales channel but only carry limited amount of stock. Though, costs of processing, e.g. for delivery an administration are relatively higher for smaller orders. Department stores will buy centrally but may want disc outs if they order in bulk, which reduces their profitability.
Ultimately, its own stores would give it the best return as builds the brand the strongest with a high customer loyalty.
5. Both Ben Sherman and Paul Smith are originated from the UK and target a younger male target market, both brands have individuality and priced at a high price point for quality.
