It has about 300 tortes in the United Kingdom and over 100 international stores worldwide including Singapore. It launched in 1964 and is considered the first fast fashion brand in the history of fashion. The goal is to produce catwalk trends as fast and cheap as possible. In this report, our group conducted a survey about Tops to find out its target market and the perspective of these target market towards the brand. We basically asked people around school and friends around Singapore to answer this survey. We were able to asked 74 people in total to share their perception towards the brand plus basic information about them.
We will be explaining the results in different segments and some findings about the brand. Consumer Demographics Tops appeals to students and professionals which can range from 16-30 years old. The line mainly focuses on women who are not yet married with the income range of SAG 12,000 to 62,000 per year. Target audience is young fashion-conscious ladies on a budget (Perez, 2013). It can also target older group ranging from 31 to early ass since Tops targets women who cannot be defined by her age but instead her attitude (Perez, 2013). Consumer Chirography’s Tops targets women who are addicted to fashion.
According to Perez (2013), Tops targets two segments from the 8 segments of Val’s II, which are achievers and experiences. Experiences spends a big amount of their income on fashion, entertainment and social life. They like looking good and having nice possessions. While achievers on the other hand are active on purchasing. They like showing their shows why they like shopping with their friends rather than their families. Regular consumers of Tops often aims to have a unique style which are influenced by trends and the current weather. They often go to Tops to seek for the latest rends so they can be ahead of the game.
Some of them may not only have the love for fashion but also for music, film and food too. They love to shop for the latest fashion trends almost every month and opt for the unique not a specific style. Consumer Perception of Brand According to the survey that we did recently about Tops, Singapore residences are aware of the brand and most of them have bought something from Tops, although not a lot of them remains as a regular consumer of the brand due to some circumstances. Though, they still find Tops affordable and stylish, most of them onto consider it as their go-to brand when shopping for clothing.
They’re somehow in between depending on the products available up for grabs. It is considered as an affordable luxury brand and a major trendsetter for the fashion world. Page 10 Competitors Since Tops is a fast fashion brand, it has many competitors like Forever 21, H, Berserk, Starvations, Ezra and many other more. These competitors offer almost the same thing from price, place, and promotion. These brands gives consumers more range of products which they often compare and can steal customers from Tops.
Singapore residences often shops more in Forever 21 and H since They offer almost the same thing so consumer tend to go for the cheaper. Although, some consumer still sticks with Tops when they opt for the latest forward- thinking trends while some who wants more ranges shops in both. Other brands such as Marc by Marc Jacobs and Juicy Couture can still be a competitor of Tops even though they are breech brands since it gives consumers more options. Customers’ Opinion of the Marketing Mix Base on their ratings, Tiptop’s store locations here in Singapore are placed on the eight area where shoppers usually demand for it.
The variety of products that they offer are still satisfying for consumers and the quality of the products still remains remarkable. Although, customer are often not that satisfied with the services Tops offers in their stores and its merchandising. Also, the price of the products they sell are still a bit high considering that their mainline is affordable fashion for young women. They are not doing a very good Job on their promotions as well here in Singapore since not everyone knows about the promotions they do, like their latest collaboration with Car Delivering.
The promotion of the brand here in Singapore is not as wide as their promotions in the USA or other countries. Tops consumers enjoy both in-store and online privileges. Page 1 1 Conclusion Many fast fashion brands are in competition with Tops, and this is a big threat for the brand. Although, Tops is still unique and is still growing as time passes by, status. However, the only draw back within the brand is its failure to provide prices that accommodate their large student market (Miraculous, 2009). As for recommendations, Tops should lower their prices to earn more customer so that hey would go back.