Marketing shopping complex effectvely with particular reference to The Mall/

The drastic emergence of shopping complexes in Kuala Lumpur since 1970s has brought intense competition among Themselves. Managements of these complexes need to attract a continuous and sufficient share of consumers in order for their tenants to survive in their businesses. In accordanced, with su...

Full description

Bibliographic Details
Main Author: 239461 Chen, King Hoaw
Format:
Subjects:
Description
Summary:The drastic emergence of shopping complexes in Kuala Lumpur since 1970s has brought intense competition among Themselves. Managements of these complexes need to attract a continuous and sufficient share of consumers in order for their tenants to survive in their businesses. In accordanced, with such a competitive situation, Market Segmentation is one of the marketing concepts that has been applied to the shopping complexes industry. Developers of shopping complexes in conducting trade area analysis are increasingly concerned with consumer segments rather than with the total consumer group. After identifying the segment or segments to enter, the Marketing Mix - Product, Price, Place and Promotion is tailored in such a way that it is capable of attracting the predetermined segments of consumers. For example, this marketing concept has been adopted by The Mall, a regional shopping complex in Kuala Lumpur. It has chosen the high- and medium-income group of consumers as its target market. Since its opening, this gigantic complex has attracted a large crowd of shoppers. This is partly, if not wholly, attributed to the effective marketing of the Mall Management. A patron survey conducted also shows that approximately 70% of the total shoppers attracted to The Mall are high- and medium-income shoppers.