Manic Panic (www.manicpanic.com) is one of the more popular brands at Hot Topic.

Question

Manic Panic (www.manicpanic.com) is one of the more popular brands at Hot Topic. Tish and Snooky, two sisters from the Bronx, opened their shop in New York’s East Village business district because, “There was no other store or company that catered to . . . musicians, punks, Goths, club-kids, performers, dancers, models and just about anyone who likes a little wild style.” Using the macroenvironmental forces and recent trends as the basis for your answer explain why you believe Manic Panic has been successful. Would your answers be the same if you were explaining the success of Vera Wang, the New York City–based clothing designer/retailer? Why?

Explanation / Answer

Answer:

The success of this store is due to the products and services that they are providing to a small market in which the competition is also not so much. This may be due to the current adoption of the new trends in the society and making the way opened for the these trends.

The store in New york city has a different phenomenon as this store has to deal with some different kinds of customers those are very specific and sophisticated in their choice and thus accpetance from them will only happen if your service or products are percieved to be valuable for them

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