High End Children

As a member of the management team for a successful high-end adult clothing and accessories retailer, there is much that I would have to consider before launching an exclusive line of high-end children’s clothing. For starters, I would have to conduct research about internal factors, such as social and cultural factors.

My market research would have several focuses. For starters, I should examine my current customers and the characteristics that affect them. One of the major concentrations of this would be on social factors of current customers. If customers who shop the high-end adult line have children, they are considerably more likely to purchase items from the children’s line. It is easier to retain and recruit internal customers for the new line than gain the attention of external customers. Additionally, the social networks of current customers would significantly impact the success of this new line. Word-of-mouth influence plays a powerful role; potential customers with children are more likely to trust and follow what their friends say over an advertisement or commercial. This is because individuals trust those closer to them, such as friends and family, because …show more content…
If individuals feel that they have greater disposable income, they may purchase higher-quality items for their children, as opposed to saving for their children and investing in something such as a college savings plan. If people lack disposable income or there is a downturn in the economy, the children’s line will be a flop. Furthermore, the competitive environment is an essential point of focus. If many businesses have similar products, I would need to differentiate my product. Nonetheless, research would have to be conducted on all of these points to better understand the external competitive