Target Audiences in Retail

image courtesy http://elenemigocomun.net/gallery/242-2/target-audience.jpg

Knowledge from a retailer regarding target audience is one of the key factors of success in the retail industry. In terms of marketing a product, it is crucial in order to make sure that those most likely to buy your product know about it in the first place! This fact is important in maximizing both company resources for advertising and maximum profits from sale of product.

Tappernet.com's marketing workshop focuses on market segmentation in three main categories, which include consumer demographics (profile of a particular market segment i.e. age, gender, occupation), business demographics (job title, industry type, annual sales) and psychographics (attitudinal traits people exhibit in their life, like need for status, the role of money for them, liberal vs. conservative). The online workshop stresses that both factors are equally important when considering packaging, pricing and communication because both demographics and psychographics have an influence on buying behavior.

The VALs segments further break down target audiences into specifics based on the levels of primary motivation and resources to each segment of people. After taking the survey, I was labeled an experiencer/innovator. I agreed with the surveys assessment, as I definitely identify with the offbeat, trendy, enthusiastic vibe of experiencers, but also identify with the niche products and love of variety of innovators.

image courtesy of http://www.sric-bi.com/VALS/types.shtml

Sources:


http://www.tappernet.com/marketingworkshop/targetaud.htm


http://www.sric-bi.com/VALS/types.shtml

How Modern Amusement was Born

As previously mentioned in the first blog, my favorite retailer Modern Amusement was just a small apparel company that supplied mostly overseas markets until 2004, when it was sold to Mossimo and is becoming more widespread.

image courtesy productdose.com

The company was founded by Jeff Yokoyama in Newport Beach, California in 1995.  Yokoyama began his career as a co-founder of Maui & Sons in the early 80's and also as an apparel designer for Stussy, both of which embody a semblance of the surfer-chic aesthetic that would come to be exemplified by the Modern Amusement brand.  Yokoyama'a childhood nickname of "black crow" eventually led to the crow being the logo for Modern Amusement.

image courtesy refinery29.com

Initially the merchandise was only distributed to boutiques in Japan and Europe, with its American sales coming from a very selective group of boutiques across the country.  Primarily, the items were sold in the US at Fred Segal and American Rag in Los Angeles.

image courtesy notcot.com

After the company was bought by Mossimo, the brand expanded sales to the Internet and a broader retail network, primarily at Neiman Marcus and Nordstrom.  The company also relocated to Santa Monica, and Jeff Yokoyama went on to co-found the new apparel label "Generic Youth" with his daughter Coco.  Modern Amusement has just recently started making women's apparel, but its key items remain as well made, quirky and fashionable menswear.

image courtesy awstories.wordpress.com

Info Courtesy Productdose.com & Modernamusement.com