Marketing is an oft conceived word used in our daily life. It is a normal word which may often be found as a part of our day to day conversations, and has more to do with the approach then the execution of a business idea. It was first explained by the American Market Association as an “activity”. Later the definition was elaborated and modified to involve the various institutions and processes employed for making, communicating and delivering products which are of value to the stakeholders-customers, clients, partners and the society at large. The term was derived from the original meaning which taken literally meant simply going to the market to shop or to sell goods and services there. Marketing has grown by leaps and bounds today. It is a creative industry that has expanded down to various genres such as advertising, distribution and selling. Customer base is figured out, their needs and aspirations realized and the relevant product developed accordingly. The paper will focus on Stella Rose, it’s standing in its local market and the kind of efforts it has ventured into cling on and keeps up with its monopoly in the district it is located today.
Stella Rose is an up scaling boutique that was started in October 2006. It sells fashion jewelry, shoes and high end clothing. It is located at Richmond Hills and aims at providing quality products and services there and in surrounding areas. It is a Sole Proprietorship while the remaining staff works as sub-ordinates on the other end. Stella is considered as a market leader and is quiet popular within its vicinity. Competition isn’t as intense and the only competition that exists comes from some discount stores located twenty to thirty miles away from the place.
The customers hold the boutique in high regard and keep returning to it off and on to look out for better more innovative products. Stella is also popular for it keeps revising its collection according to latest trends and seasonal changes. Ergo, it is known for convenience, the good products that it has to offer and that too at suitable prices.
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