Target Market:
As we all know, National Geographic is about inspiring people to care about the planet. It is about the exploring and exchanging of culture, photo-taking, gadgets as well as apparels. With such unique branding we have only one exclusive outlet in Singapore located at Vivo City. What is their target market exactly? How do they actually go about attracting customers and retaining them?From the interview we conducted, the manager has personally shared with us what are their target customers. According to her, Nat Geo is actually looking for customers that already know the brand and adore it. They target those who love exploring or photography and that segment that remains loyal to their products just because it is National Geographic’s products.
As we know, with little competition brings about more profits. National Geographic actually has a unique target market that would probably remain loyal to its brand as there are hardly any other brands that produces product like what Nat Geo can. However they have a few competitors like
- Timberland (main competitor, also intertype competitor)
- WinterTime,
- Birkenstock
- Tommy Hilfiger
Retail Format/Retail Mix
Location: Vivo city shopping mall
One of the largest shopping malls in Singapore, heavy traffic flow and in turn attract more curious consumers to enter Nat Geo
Promotions: Held in line with seasons such as Father’s Day, Mother’s day and Great Singapore Sales. And exclusive promotions held in line together with Golden Village.
Product: Unique branding as well as exclusive merchandise
Price management: As we know price is a critical factor in making profits for the company. It is essential to set the price right. When we asked about the pricing and how it is set for Nat Geo’s products, the manager commented that it is mainly controlled by the headquarters. However, she reassured us that the price is set at a reasonable rate and that customers are willing to pay for.
We feel that setting the price right is important as it portrays the image of the product as high price would pretty much means that it is of certain quality if not why the company would dare to set such rates. They have products price ranging from $30-$190 for apparels while toys price range around $8(plush toys)-$180(experiment toys). These price ranges are what market rate should be and that some of their products are priced above average to let consumers feel that they are purchasing products of a certain quality.
Services: Search for good retail assistants who have a passion for their brand. Their retail assistants are also ambassadors of the brand regardless of their retailing experience
Sustainable Competitive Advantage
Freezing Chamber
This good critics and repeat patronisation only shows that this exclusive service has managed to captivate customers and keep them.
On top of that, they search for good retail assistant who have a passion for their brands. Their retail assistants are all also ambassadors of the brand regardless of their retailing experience
Customer Loyalty
Nat Geo’s customers are followers who already know the brand and are loyal towards it. Many of them are hard to persuade over to switch brand as they are emotive loyalties who seldom question the correctness of the brand but rather felt the strong affection towards the brand and would remain loyal towards it no matter what.