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Urban Outfitters Continuing Case Study:

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(60)) maximum points.;You will find enclosed a letter (at the end): Urban Outfitters Continuing Case Study: Marketing a;business. Please read this letter first to have a idea of how this company do business. The essay is;based just by answering the following questions. Please read all instructions carefully.;1.;Explain why Sears or Wal-mart cannot effectively create a trendy counterculture image.;2.;Could the big box stores sell merchandise identical to Urban Outfitters? Explain your;answer.;3.;Identify at least three reasons why exclusivity is valuable.;4.;Senk says that shopping is largely entertainment. Do you agree or disagree with him?;Explain your answer.;The format of the report is to be as follows;A- Typed, double spaced, Times New Roman font (size 12), one inch margins on all sides;APA format.;B- Type the question followed by your answer to the question.;C-;3-4 pages required;The report will be graded using the following rubric.;NOTE: One of the criteria that you will be graded on is the quality of your answers, the;logic/organization of the report, your language skills, and your writing skills.;Outcome Assessed;Describe the basic components of the marketing process (product, promotion, pricing, and distribution).;Grading Rubric for Assignment #2 - Urban Outfitters Continuing Case Study: Marketing a;Business.;Criteria;1. Explain why Sears or Wal-mart cannot effectively create a trendy counterculture image.;Unacceptable (0): Did not complete the assignment or why Sears or Wal-mart cannot effectively create;a trendy counterculture image was explained but with less than 60% accuracy and most of the discussion;points were inappropriate or were not identified.;Developing (20): Why Sears or Wal-mart cannot effectively create a trendy counterculture image was;explained but with 60 to 79% accuracy and some of the discussion points were inappropriate or were not;identified.;Competent (40): Why Sears or Wal-mart cannot effectively create a trendy counterculture image was;explained with 80 to 89% accuracy and appropriate information was identified and discussed.;Exemplary (60): Why Sears or Wal-mart cannot effectively create a trendy counterculture image;was explained with 90 to 100% accuracy and all appropriate information was identified and;discussed clearly.;Criteria;2. Could the big box stores sell merchandise identical to Urban Outfitters? Explain your answer.;Unacceptable (0): Did not complete the assignment or whether or not the big box stores could sell;merchandise identical to Urban Outfitters was explained but with less than 60% accuracy and most of the;discussion points were inappropriate or were not identified.;Developing (20): Whether or not the big box stores could sell merchandise identical to Urban Outfitters;was explained but with 60 to 79% accuracy and some of the discussion points were inappropriate or were;not identified.;Competent (40): Whether or not the big box stores could sell merchandise identical to Urban Outfitters;was explained with 80 to 89% accuracy and appropriate information was identified and discussed.;Exemplary (60): Whether or not the big box stores could sell merchandise identical to Urban;Outfitters was explained with 90 to 100% accuracy and all appropriate information was identified;and discussed clearly.;Criteria;3. Identify at least three reasons why exclusivity is valuable.;Unacceptable (0);valuable.;Did not complete the assignment or does not identify any reasons why exclusivity is;Developing (20);Identify only one reason why exclusivity is valuable.;Competent (40);Identifies at least two reasons why exclusivity is valuable.;Exemplary (60);Identifies at least three reasons why exclusivity is valuable.;Criteria;4. Senk says that shopping is largely entertainment. Do you agree or disagree with him? Explain;your answer.;Unacceptable (0): Did not complete the assignment or reason for agreement or disagreement was;explained but with less than 60% accuracy and most of the discussion points were inappropriate or were;not identified.;Developing (20): Reason for agreement or disagreement was explained but with 60 to 79% accuracy;and some of the discussion points were inappropriate or were not identified.;Competent (40): Reason for agreement or disagreement was explained with 80 to 89% accuracy and;appropriate information was identified and discussed.;Exemplary (60): Reason for agreement or disagreement was explained with 90 to 100% accuracy;and all appropriate information was identified and discussed clearly.;5. CLARITY;Unacceptable (0): Did not complete the assignment or explanations are unclear and not organized.;(Major issues);Developing (20): Explanations generally unclear and not well organized. (Many issues);Competent (40);Explanations generally clear and/or organized. (Minor issues);Exemplary (60): Explanations very clear and well organized.;(Added helpful details.);Criteria;6. Writing Grammar, sentence structure, paragraph structure, spelling, punctuation;(APA, if required);Unacceptable (0): Did not complete the assignment or 8 or more different errors in sentence structure;paragraph structure, spelling, punctuation or APA usage (Major issues);Developing (20): 6 - 7 different errors in sentence structure, paragraph structure, spelling, punctuation;or APA usage (Many issues);Competent (40): 4 - 5 different errors in sentence structure, paragraph structure, spelling, punctuation or;APA usage (Minor issues);Exemplary (60): 0 - 3 different errors in sentence structure, paragraph structure, spelling;punctuation or APA usage.;Urban Outfitters Continuing Case Study;Urban;Marketing a Business;Marketing;We believe to the core of our being that scarcity creates demand;Glen Senk, CEO of Urban Outfitters;Unlike other retailers, Urban Outfitters marketing nearly begins and ends with the shopping;experience itself. The company does little if any advertising, in print or otherwise. Nearly;everything rides on producing a unique experience.;Urban Outfitters has been a consistent winner with tight marketing and storefronts that;completely set it apart from other retailers. Typically a niche company finds a narrow category in;the broader industry where it can outperform larger retailers. Once the consumer is singled out;and approached with the right sort of attention, that consumer will respond to the brand. For;Urban Outfitters, this meant understanding the psychology of a very specific group of customers;and then doing something a big retailer literally could not do: be small and exclusive. But Urban;Outfitters did it on a not-so-small scale and without much traditional marketing.;From the beginning, Urban Outfitters used location, the shopping experience, and a certain sense;of fashion to sell to people who were somewhat counterculture and certainly not looking for;conformity. Originally thought of as the hip college crowd, the typical Urban Outfitters;customer is looking for a sense of differentiation. By all indications, this conception was;accidental, when Hayne opened his first 400 sq. ft. store, he probably had no illusions of;chipping away at JC Penneys or Sears market share. All the same, Hayne essentially;invented a category, and discovered that his customers would be willing to pay for that;differentiation. His customers not only wanted a unique shopping experience, but to come away;with a special or obscure find.;Originally, Urban Outfitters stores were all located near colleges and universities. The location;reinforced the brand image. Even when Anthropologie, an offshoot brand targeted at an older;market, was introduced, the company deliberately avoided malls to keep the brands unique.;Today, Urban Outfitters has stores across the U.S. and around the world but no two stores are the;same. Even within the companys distinct concepts, the stores are all different. Each store is;designed to be as authentic to the targeted consumer and location as possible. The London store;is different from any of the New York stores, reflecting the different tastes and preferences of;Londoners compared to New Yorkers. But even in New York City, the East Village store and the;Soho stores are uniquely designed to reflect their specific neighborhoods. Each store has a design;team that keeps the store looking different, and marketing people collaborate with product;designers on the look of each store as well.;From the beginning, Urban Outfitters offered a unique shopping experience, even if the target;market changed. Urban Outfitters started out selling unusual products to college students who;might or might not have much money. Today Urban Outfitters sells to the upscale market, and;primarily to women rather than men 80%-20%, respectively. Research shows that women;generally enjoy shopping, it has an undeniable entertainment value in and of itself. (In contrast;Richard Hayne has said, Hell for a man is shopping for clothes on a Saturday afternoon.) If;the shopping experience is unique enough, then customers will gravitate towards the better;experience. The value of the product is associated with the experience of finding that product. To;keep this sense of having found something unique and valuable, Urban Outfitters provides;each store with only small quantities of any given product. Even wildly popular items are;stocked in small quantities, thus reflecting what Senk meant when he said that scarcity creates;demand. Stores are also encouraged to take markdowns quickly to keep products moving and;the shopping experience fresh.;The dictionary defines fashion as a distinctive or peculiar manner or way. In light of this;definition, Urban Outfitters takes an aggressive approach to fashion, particularly catering to;those who see themselves as on the cutting edge. To accomplish this, product lines are broad and;shallow. This means that a wide variety of products are made, but in relatively small quantities.;Then those quantities are spread across multiple stores so that no one store has more than a few;of any given item. In the end, customers not only get a unique shopping experience, they are;confident that whatever they purchase will not quickly become ubiquitous. Equally vital is;feedback from the staff. What is hot and what is not is manifestly more intuitive to the younger;managers, buyers, and sales force than it is to middle-aged CEO Haynes, so he actively;encourages commentary. Forward-looking research is key as well: fashion hunters prowl the;streets of hip cities worldwide to divine fashion trends. But even with the occasional fashion faux;pas, the shallow product lines mean that mistakes can be cleared quickly.;Urban Outfitters success depends on creating a shopping experience unique to each location as;well as a strong sense of fashion. While it might be tempting to milk each fashion hit as it comes;and fill each and every store with a popular product, Urban Outfitters instead keeps it products;scarce and in demand.;Sources;http://www.fundinguniverse.com/company-histories/Urban-Outfitters-Inc-Company-History.html;Q2 FY 2009 Urban Outfitters Earnings Conference Call, Thursday, August 14, 2008 11:00;a.m. ET, http://phx.corporate-ir.net/phoenix.zhtml?c=115825&p=irol-EventDetails&EventId=1908465;http://media.corporate-ir.net/media_files/irol/11/115825/Q2 '09 Conference Call Prepared;Comments.pdf;Urban Outfitters at Wachovia First Union Consumer Growth Conference Final, Fair Disclosure Wire (Quarterly;Earnings Reports), Regional Business News, EBSCOhost, accessed October 31, 2008.;The Differentiated Retailer by Murray Forseter, 2006, Chain Store Age 82, no. 6: 12-12, MasterFILE Premier;EBSCOhost, accessed October 31, 2008.;A non-chain attitude wins for urban outfitters, 1994, Chain Store Age Executive with Shopping Center Age 70, no.;11: 33, Business Source Premier, EBSCOhost, accessed October 31, 2008.;Urban Cowboy by Heidi Brown, 2004, Forbes 174, no. 9: 154-162, Academic Search Premier, EBSCOhost;accessed October 31, 2008.;Its all about visuals. by Robert La Franco, 1995, Forbes 155, no. 11: 108-112, Business Source Premier;EBSCOhost, accessed October 31, 2008.;Retail's Recipe for Hip, 2003, Chain Store Age 79, no. 11: 42-43, Business Source Premier, EBSCOhost, accessed;October 31, 2008.

 

Paper#31873 | Written in 18-Jul-2015

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