Over the years, marketing has changed in profound ways. However, customers want to expect the same experience across retail channels. Now a days, in order to target new customers and boost brand image without spending millions of dollars, Integrated Marketing Communications (IMC) is achieved by using social media, online advertising, public relations and viral marketing. This helps consumers understand the message intended and are more inclined to make a purchase. Effective marketing management is crucial in every industry as innovative marketing increases a company’s brand awareness.
The rapid advancement of recent technology is revolutionizing how the consumer shops. Online shopping has become vastly popular and consumers are utilizing this technology with the increasing practicality of the Internet and mobile devices. The apparel industry is cutthroat competitive in the global market. Retailers without a substantial competitive advantage do not stand a fighting chance. Now more than ever, competition amongst companies such as GUESS? Inc. and Gap Inc as well as other leading brands has become fierce. Internet marketers are pulling customers from stores. Smartphones have become the new phenomenon and have increased online shopping. Consumers are more aware of prices and have become better shoppers trying to purchases clothing with deep discounts. As a result, stores are forced to put special offers on items on a frequent basis knowing that consumers can buy that cheaper somewhere else. For this reason, GUESS? Inc.’s prices have declined over the years. Even companies like Gap Inc, known for selling products at reasonable prices, have changed strategy to keep up in the retail market. One factor boosting online shopping is retailers offering online private sales. HauteLook, Ideeli, Ru La La, Gilt and Groupon are all examples of the popular sale channels that offer limited time sale events with GUESS? Inc., Gap Inc and other world’s top fashion brands making the prices even affordable for the average consumer. This has created a big push in a young, hip direction. Even budget minded customers are utilizing such platforms through the use of Internet or mobile apps.
GUESS?, Inc. is a global brand that exudes a fresh, sexy, and confident lifestyle, with a broad line of apparel and accessories. Their target market is men and women ages 16-23, and young children. The company operates stores in Europe, North America, South America, Asia, and the Middle East. With a total of 504 stores in the United States and Canada and 230 smaller-sized concessions in Asia and Europe, the company has plans for additional expansion domestically and internationally. GUESS hopes that targeting new customers in innovative ways and developing in new areas will help the company succeed in the up and down market in the fashion industry.
GUESS? Inc. is wildly successful because of their relevancy in fashion and because of the way they market to a young, fashion-conscious...