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This paper applies three P's of marketing to a one-person boutique woman's clothing store: Product, price and place. The paper describes the changes in product as the owner aged and market conditions changed. The author reports on the owner's comments that when she was starting out, there were typical things to consider--store size, traffic patterns and neighboring shops.
From the Paper:"Proper pricing, while not as much of a challenge as product, does pose problems. Of course, she's obligated to have the traditional end-of-season markdowns, but because her store is so small, she has to price her products to move quickly. "This isn't the kind of store that a person can come in and browse for hours. A person wanders in, sees everything I've got to sell in a matter of minutes. When that same person comes in next week, I've got to have a new inventory, or next week that same person won't bother to stop by." Each morning she has to take stock of her inventory and prices. Then when she steps out for lunch, she might see similar items at other stores at lower or higher prices and she's back to evaluating her own prices to be able to compete with mass retailers."
Cite this Essay:
Boutique Marketing (2003, July 14) Retrieved January 18, 2021, from https://www.academon.com/essay/boutique-marketing-29071/
"Boutique Marketing" 14 July 2003. Web. 18 January. 2021. <https://www.academon.com/essay/boutique-marketing-29071/>