high and mighty
... 0 Introduction: High and Mighty has been the market leaders in a segment serving ‘Big and Tall’ consumers of the clothing industry. ... “The management process of identifying, anticipating and satisfying customer needs profitably” Chartered Institute of Marketing Therefore a research proposal to the attention of the directors has been created in order to view the current market situation with the use of a marketing audit and a customer audit in order to identify any changes in market trends or consumer needs that the High and Mighty may satisfy, and marketing budget as well as time scale for it to occur profitably. ... 1 Product: High and Mighty stock two different types of denim jeans that are aimed at different markets, however they are not able to provide the desired level of profitability as seen with the dramatic fall in profits. ... 9 Competitors: Over the internet, there seem to be thirteen companies targeting the same market segment as High and Mighty, and therefore are obtaining market share. ... An interview was conducted with the manager at High and Mighty at the Knightsbridge branch, and general observation was done in order to collect the required primary research. ... ) One very important fact is that 60% of the people felt that the quality of the jeans sold at High and Mighty was of good quality, so the question arises why are the sales still decreasing? ... 0 Objective: The objective of High and Mighty is to: Introduce a brand name product called Versace Regain market share, using present pricing, promotion and distribution techniques To have successfully made a profit within two years Increase profitability to near 60% 7. ... High profits would be produced as a result of a premium price being paid for a premium product, as in the eyes of the consumer it would have ‘added value’. ... As High and Mighty move through their decline stage with the extension strategy it will change over the five year period. The key segments that have been identified for High and Mighty are: o Age Group, 18-32 (70% of sales) o Growing Market o Always Big and Tall people around o Niche Market 8. ... 2 Year three to five: I It is expected that as a result of creating brand loyalty and repetitive purchasing as a result, competitors will see the market as saturated and not enter the market due to the high risk of failure. ... 1 Product: High and Mighty aim to introduce a brand name product by the name of Versace that would sell with little promotional costs, due to a brand name being sold via a reputable company.