Marketing Management College Assignment Example | Topics and Well Written Essays - 1000 words

Marketing Management College - Assignment Example It has recently co-sponsored "The Kustom Jetty Surf Pro Junior" with prize moneyof $30,000AUD at Torquay, Fairhaven VIC from 8 January 2007to 14 January 2007. Clothing is one of basic human need and whole population is potential market for a clothing company. Though the company in question i.e. Jettysurf, presently doesn't have the capability in terms of presences as well as range of cloths, fulfilling the exact demand of all variety of customers, at every place. So it has to take up a portion of the total market for which it can provide its offerings with its current resources. Jettysurf is having around 20 stores which are mainly located in Southern and western part of Australia, and it has one website which is providing only information about Jettysurf, without any online ordering facility. Even if the website had an online order facility, customer would not have liked to order online, as for making a buying decision for cloths, customer normally likes to have a feel of cloth and fitting. This limits the total available market to population near the stores. Purchase of cloths can mainly be driven by various needs like replacement for torn or faded cloths, new cloths for some important occasion, change in anatomy like growing children or persons attending gym for slimming down and lastly just to be in latest fashion and to have some change. First reason can be more dominant for older people who would not like to change a cloth until it has been used fully. These are the people who have seen tough time in there life and are best described by Meredith Schewe and Karlovich (cited in Kotler 2003) as The Dispersion Cohort, The Word War II Cohort and The Post wart Cohort and are above 55 yrs age. This group can also have younger people also but relatively in less number. Purchase decision due to this reason sees a static demand of cloths throughout the year and this group sees cloth as means of covering up the body, though decently. Occasion based purchases are more concentrated during festive seasons or on personal events like birthdays, marriages or anniversaries and this group generally encompasses all age groups. Purchases done just for a change are normally seen in youth, Young at hearts or in one having low responsibility and having disposable income. Since cloths are being purchased for being in latest fashion (which also changes relatively rapidly), to accommodate physical changes or just to satisfy urge for shopping, purchase rate is high in this segment. Further, these impulsive or fashion driven purchase act is relatively seen more in females. This is somewhat true for occasion based purchases also. Census data of Australian Bureau of Statistics, as reproduced below, shows that more than fifty-five percent of Australians are between 15-55 years of age and around fifty percent of Australians are females. AGE Population of Australia % of total persons for Australia Age groups: 0-4 years 1,243,969 6.6% 5-14 years 2,668,506 14.2% 15-24 years 2,566,346 13.7% 25-54 years 8,159,808 43.5% 55-64 years 1,759,742 9.4% 65 years and over 2,370,878 12.6% Population of Australia % of total persons for Australia Males 9,270,466 49.4% Females 9,498,783 50.6% Jettysurf stores provide more of casual clothing and accessories which are