Lingerie Market in UK Essay Example | Topics and Well Written Essays - 3250 words

Lingerie Market in UK - Essay Example Organizations based on management information about customers, products, prices, competitors, suppliers and every aspects of the marketing environment are bound to move ahead. 'Marketing' belongs to marketing specialists but 'going to market' is a process owned by everyone in the organization (Piercy, 1997). Present business environment: Companies' strategies, structure, systems, products and cultures grow increasingly obsolete and dysfunctional as the environment changes. The major responsibilities of the organizations are identifying market place changes and opportunities as well as threats, from competitors and other external/environmental factors. In the present geo-political situations and ever-changing technological and economic situation identifying the opportunities properly and timely decide the success of the companies Company, which seizes the opportunities and exploiting it could be more successful in a hyper competitive market. The present market/business environment as a hole is continuously changing in U.K. as the development of European Union, marketing scenario has been changed. As the national boundaries are diminishing, different cultures are mixing up. Taste and preferences for cloth food etc. have been affected by this globalization of economic. In customer need man agement, organizations basically focus on basic customer needs (Dewar &Shultz, 1998). Basically the consumer behaviour has been affected by socio-cultural and economic impact. The income level and net disposable income also have an impact on consumer behaviour. From the marketing perspective, up to date economic, demographic and cultural information must be an analyzed to have an overview of the market. Present lingerie market environment in UK: As we know that UK is now a part of EU and is one of the most prosperous areas in the world. Now we will confine ourselves to Lingerie market in UK. Lingerie includes: bras, briefs, slips, camisoles, teddies bodies, vests, suspender belts, coordinated sets, control panties, corsets, girdles & thermal underwear. It does not include nightwear, dressing gowns and bathrobes; excluding hosiery, dance/keep fit items and swimwear. In U.K., ABC1 category (Fig-46 of MINTEL Report, 2008) of population has increased by 11% i.e. the population which have more income spending capacity and almost 50% of the population falls in this category. Now the main target group for lingerie marketers is this ABC1 group. This category has the income growth and buying capacities as well as they are more fashion oriented. Attitudes and personal perceptions about lingerie has changed in recent years and more and more women as well as men are not just wearing good linger ie out of necessity but they feel good about to have nice underwear. In UK, population has been changing and increasing in the age group of either 20-34 or 45 and above. The requirement and needs of lingerie customers between different age group is different. Age group 20-34 like more fashion oriented undergarments where as 45+ women need different (rather larger sized undergarments due to change