I need some assistance with these assignment. fashion apparel manufacturing Thank you in advance for the help! Marketing Strategies
Coach always tries to offer something new to customers through carefully designed marketing strategy. The company has revamped their product line over the time in order to fulfill demand of various customers. Coach has great success because of the strength of its brand. The company specializes in selling ladies handbags, luggage, wallets, briefcases and leather accessories. Brands offered by Coach have three distinctive brand equities. These three factors can be classified as product innovation, excellent value offering and relevance. The company conducts market research about customer preference by conducting interview of 15,000 people every year and based on interview report they innovate products in accordance to customers’ lifestyle. Product line of the company maintains relevance with demand of the customers by changing fashion statement and trend in periodically. Coach offers value products by offering, inspirational, stylish leather goods to customers. Coach offers leather goods to both men and women in the following manner. Women Reason Men Reason Handbags, wristlets, shoes, outerwear, jewelry, fragrance, sunglass and many more To attract women with colorful product line Wallet, accessories, belts, shoes, outerwear, tech accessories and many others To fulfill multidimensional fashion requirement of men (Source: “Shop”) Target Customers The company mainly targets women in the age range of twenty to fifty five. Coach has significantly introduced new products in their offering in order to fulfill demand of women belong to various age group. Analyzing mailing list of the company helps the study understand demographics of target market in the following manner (Paxson 64). Professional women and women with white collar job. These women prefer to shop trendy and fashionable shoes, wardrobe items, apparels in order to enhance their professional image in front of external society. Women do not want to compromise with style, fashion statement in order show their taste to external society. They believe by purchasing branded products of coach will not only enhance their social image but beautify them also. Research report shows that average age of women purchasing leather items from Coach is forty five with an average spending of $100 on each item. Promotions The company relies heavily on e-marketing in order to promote their product. The value proposition offered by the company has five distinctive pillars. Providing sufficient links in the website to attract customers and investors to access financial statements, stock information, report of new product launch etc. “My Account” feature is added in the website to engage customers with the company. The company updates their feature product line on website periodically in order to retain existing customers. The company conducts online market research on customer preference and based on the research report they decide marketing strategy. Coach has introduced “Coach by Request” section for customers in order to offer them superior customer service. “Coach by Request” gives the opportunity for customers to order home delivery of tailor made items.