Westside is a clothing retail company owned by Trent Ltd. that was established in 1998. It targets the middle and upper middle class segments. Westside uses market research and celebrity endorsements in its advertising. It focuses on maintaining customer relationships and gathering feedback. Westside's strategies include refreshing designs, quality products, better pricing, and maintaining stores. This case study examined Westside's retail model, layout, advertising, and year-over-year sales comparisons.
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Case Study On: Westside
Westside is a clothing retail company owned by Trent Ltd. that was established in 1998. It targets the middle and upper middle class segments. Westside uses market research and celebrity endorsements in its advertising. It focuses on maintaining customer relationships and gathering feedback. Westside's strategies include refreshing designs, quality products, better pricing, and maintaining stores. This case study examined Westside's retail model, layout, advertising, and year-over-year sales comparisons.
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CASE STUDY ON 7
WESTSIDE
By GROUP 5 Abhinay Dinesh Imran Mithun Nandita Suresh Sushmita INRODUCTION
It is a Tata group company.
It owned lakme brand. Gave stake to HLL and later sold its stake. From market research noticed good future for clothing. Made tie up with a Brittan based company. Bought its assets. In the year 1998 it started its business with organization ‘Trent’ and brand name WESTSIDE. Plans to expand its business from 0.12 million to 0.3 million sq ft. RETAIL MODEL
Targeting majority of population.
Acquired ‘LIITLE WOODS’ stores. Use of stored products. Updating with fashion. lease space. Appoint smart and pleasant looking staff. Use of Information Technology and software. Rigorous advertising and promoting. RETAIL LAYOUT Use of free form retail layout or boutique layout. Arranging fixtures and aisles asymmetrically. Dividing those in to clusters. Giving customers a good ambience. Availability of desired stock. Individual Stock taking units (SKUs). CUSTOMER FEEDBACK To survey behavioral aspect of customer. Keeping trust on Customers. Preferences and style. Hospitality feedback. FOCUS ON MARKET RESEARCH
Research on ratio’s of stored product sales
and other product sales. Research on customer behavior at a certain geographical location. Appointing a panel of senior Managers for Market research. Research on present day trends. To sustain Brand Value. STP Segmenting:
Gender wise: Men, Women and Children.
Class wise: lower class, middle class, upper middle class.
Targeting:
Trendy and Fashionable
The youth
Middle class and upper middle class.
Positioning: “Value for money”
Offering fashionable products at affordable prices.
ADVERTISING Television and print media. Special offers during festivals. In-store promotions. Conducting loyalty programs. Allocated 200 million. It was 8% of its sales. PROMOTION
Using celebrity endorsers.
Celebrity endorsers like Yuvraj Singh and Fleur Xavier(Revlon girl) Positioning of the promoter also positions its product. Like here Yuvraj Singh shows that a modern India needs – Indomitable spirit, Abundance of talent, great energy and uncontrollable Enthusiasm. \ STRATEGIES
Maintaining customer relationship.
Gathering customer Feedback. Retaining customers by Loyalty Programs. Giving ambient environment at stores. Going with fashion and Technology. Cont..
Working on Market Research Methodology.
Maintaining stored products. Rigorous advertising and Promotion activities. ADVANTAGES SUSTAINABLE IN THE LONG RUN
Loyalty towards the customers.
Refreshing designs. Quality of Products Market Research. Better Pricing Layout
. YEAR WISE COMPARISON
2000-pricing lesser than the competitors. (FDI)
up to 49%. Result: The sales surged by 200%. 2001- Signing up the Revlon girl. Advertising constituted 8% of the total sales in that year. Result : Sales growth dipping to 17% . 2002: Signed Yuvraj Singh. Result: It reported an increase of 70% in the sales growth that year . CONCLUSION Attain market share from unorganized products. Reduce Advertising expense ,more profits. Increase outlets. THANK YOU…..