Segmenting and Targeting Markets

A market is a set of people or organizations with needs or wants and the ability and willingness to buy. A niche is one segment of a market. When these terms are applied to Supreme, their main market is the skateboarding community. But this isn't the only niche they cater to. They also entice the likes of street artists, many musicians and those who just want to stay trendy in the fashion world. Take for example hip hop artist A$AP Rocky. He is not a skateboarder, which again is Supreme's main market. But he is in the market of Supreme seeing as how he dresses differently from other rappers today and likes to set trends. Since he as well as others live this certain lifestyle when it comes to fashion and clothing, this is considered psychographic segmentation or the segmenting of markets based on personality, motives, lifestyle, and geodemographics. But this is not the only way that Supreme is segmented. Supreme is also geographically segmented as well. Geographic segmentation is the segmenting of markets by region of a country or the world, market size, market density, or climate. As of now there are 9 different Supreme stores located in the world. 1 in SoHo, 1 in Los Angeles, 1 in London, 3 in different areas of Tokyo, 1 in Osaka, and 1 in Fukuoka. If you do not live in these areas near these stores the only way to get clothing from Supreme would be to go on the online website and have it shipped to you. These stores are also strategically placed in these areas. This comes from seeing that these areas are higher income areas. Based on this as well as Supreme's higher pricing, geographic segmentation was perfectly put into practice.

Developing and Managing Products

A new product is a product that is new to the world, the market, the producer, he seller, or some combination of these. In the case of Supreme they bring new products to their stores every week during the spring and winter seasons that they open their doors. A new-product strategy is a plan that links the new product development process with the objectives of the marketing development, the business unit, and the corporation. In this Supreme helps launch new products or new product lines for an already by promoting new or unreleased products through their site.

Services and Nonprofit Organization

When it comes to Supreme, it has always been a brand that produces quality product. For example after purchasing and wear clothing from Supreme the customer now has experience quality since they have been using said product. Whether a t-shirt or a camp cap

Product Concepts

A product is everything a person receives in an exchange whether favorable or unfavorable. In the case of Supreme, they are in the business of selling different products. They sell consumer products, shopping products and some specialty products. This means that customers buy these products because they want to satisfy personal wants, because some of the clothing is on the higher end in terms of pricing and is found in fewer stores, and customers will most likely not accept any substitutions. Every season Supreme releases limited amounts of clothing that customers line up for. One of the products released from the spring of 2014 was the Nike Foamposite Supreme collaboration. This was a specialty release in terms of being a particular item that customers search for. This is also considered a shopping product because it is was more on the expensive side considering the fact that most foamposite from nike retail at $200-$230. These retailed for $250. Alongside these sneakers, similar clothing was released to accompany it in the form of a jersey as well as shorts. These were also considered specialty and shopping products seeing that both these pieces of clothes were priced at over $100. These products all together can be considered a product line seeing as how they are similar in design and color. These products also contain the Supreme logo. This is what's known as the brand name as well as co-branding seeing as how the foamposite sneaker is made by Nike while the design comes from Supreme itself.

Personal Selling and Sales Management

Supreme is a brand that doesn't do out of store personal selling nor do they do relationship selling. Supreme takes more of the traditional selling route. When you walk into the Supreme store usually there is a door person ready to greet you. But after that usually the customer is on their own when it comes to looking for products. This works negatively in Supreme's favor because a majority of the time they are not making new connections with potential customers. The only time I have seen a form of relationship selling from the staff at Supreme is when customers who frequent the store regularly return looking for new products.

Advertising, Public Relations, and Sales Promotion

When it comes to advertising, Supreme isn't your average run-of the mill commercial running company. In fact Supreme doesn't even run commercials. Instead their advertising campaign consists of celebrity advertisers in various formats or media mixes. A media mix is a combination of of media to be used for a promotional campaign. One of Supreme's mediums of conveying their products is getting celebrities to advertise for them. As you can see from some of these posters, Supreme makes attempts to advertise to current customers as well as trying to catch the eyes of possible customers by using the likenesses of model Kate Moss. This likeness as well as others show someones favorite model or artist wearing and endorsing this brand. This would lead some to think that if their favorite celebrities wear this brand, they and or should could wear it as well. Another part of Supreme's media mix is the fact that sometimes these celebrity endorsements are the free. What is meant by this is that numerous artists, models, and athletes (skaters mainly) are photographed wearing Supreme logos in their outfits. For example, artists like Tyler, The Creator and Kanye West have been photographed wearing Supreme clothing. On the left is Tyler, the Creator accepted an award while wearing a Supreme box logo hat. On the right Kanye West was photographed in a green tree camp field pullover jacket while walking through the streets of Paris. These 2 pictures are just some examples of pictures seen by numerous people all over the world. This creates a word of mouth advertising campaign of sorts leading people who want to either follow the trends set by their favorite artist or to want to check out what other unique and rare items that Supreme would have to offer them.

Retailing

During a recent trip to the Supreme store I came across a couple of things.