Like many, young women in the city life of the fashion capital of New York, Kate Brosnahan Spade had high hopes to become a well known and respected fashion designer. Today she is a well know fashion designer but didn’t have the easier start in the fashion industry with the changing of brand names. Her fashion empire rose from handbags, accessories, clothing, to stationary, and home appliances sold at not only Kate Spade stores but department stores, and Bed Bath and Beyond. Building a company in the fashion empire is not easy with competitors such as Coach and Michael Kors. What distinguishes Kate Spade from the other brands is the not only done through marketing tactics but the benefits the brand provides, how they have distinguished themselves …show more content…
Employees at Kate Spade get flexible benefits and get coverage including medical, dental, vision, life insurance, disability, and 401k (Kate Spade & Company 3, n.d.). Also, receive employee discounts, back-up child care at some locations, and business casual dress code. High school and college students with a valid ID receive a fifteen percent discount from their purchase. There are environmental initiatives in place, “so over the long-run, only a sustainable approach will benefit the consumers, customers, shareholders, associates and communities we serve by both meeting our business goals and protecting and improving the quality of the environment in which we all live (Kate Spade & Company 1, n.d.).” Philanthropy is a major aspect that many are aware of that Kate Spade is heavily involved in. Associates who contribute twenty-five hours or more to volunteer receive a $200 grant to a qualified nonprofit of their choice (Kate Spade & Company 5, n.d.). The Kate Spade Company foundation invests in several nonprofits and each year provides 1.2 million grants to organizations (Kate Spade & Company 4, n.d.) Kate Spade & Company, “believes in the power of women to transform their communities (Kate Spade & Company 2, …show more content…
Product features of Kate Spade stand out from others because of the crisp color, graphic prints, and playful sophistication (Kate Spade, n.d.). “Distribution is done and covered in the United States, then transported from manufacturers domestic and abroad to distribution centers and store within the US (Kate Spade & Company 1, n.d.)”. Compared to the competitors, Kate Spade is not as expensive as the other competitors and there are many sales that go on throughout the year, making the products modern and an affordable luxury item. In the promotion aspect, most of the marketing is direct through email, and paper mail. Differently than other company’s Kate Spade has advertised commercials and short clips known as “miss independent”, with casts of familiar fashion icons and television stars such as, Anna Faris, Rosie Perez, and Anna Kendrick. All of the promotional advertisements are seen as fun and colorful, the consumers will with have a positive attitude to buy the products and the amount of sales is a huge benefit to
Challenges the company may face are the risk of being eliminated by more experienced, better marketed competitors, low demand for its merchandise, and expensive marketing and distribution. Known that Signet Group, Tiffany & Company, and Zales Corporation occupy the majority of the American market, Foxy Originals must establish its brand on the strength of its superior designs and lower price tags. Various Canadian customers have supported Foxy Originals due to their pride in Canadian products. But the US market purchase products exclusively according to fashion trends. In addition to the challenge, initial market examination suggests 50% of Foxy Originals’ designs do not charm to American consumers. Half the stock’s inadequate appeal, marketing and distribution budgets related with forming the brand, obtaining shelf space, reaching-out to buyers, and attaining market share could prove too much for Foxy Originals to manage and succeed
The principles of marketing (The Times 100, n.d) are a range of processes concerned with finding out what consumers want, and providing it for them. This involves the ‘4ps’ of marketing; price, place, product and promotion. The product decision in any company involves dealing with goods that should be offered to a group of customers (Jobber & Ellis-Chadwick, 2012). Burberry maintains a product line with great width and scope in which their products fall into two main categories; fashion or continuity. Their fashion products are designed to be responsive to fashion trends and are introduced on a collection to collection basis (Burberry, n.d). Continuity products however have life cycles that are expected to last for a certain time period. Burberry also has 3 primary collections; womenswear, menswear and accessories, with the variety of products they can utilize their product mix greatly. Burberry also has...
Polo Ralph Lauren the brand has become one of successful brand in America and across the world, as a well-known player in the design and lifestyle industry, under bender Polo Ralph Lauren collection of product range from reasonably inexpensive to expensive brand in men’s, women’s and children wear, accessories, perfumes and home furnishings. Widely seen as the number one brand that symbolize the American Style, Polo Ralph Lauren has implemented to its marketing strategy, which has leaded they to become a strong brand equity since being set up. Also, the brand has been selling its goods internationally, while it has kept up with its 45 years reputation and distinctive image developed across the different products and brands markets. Due to its marketing tools and its high quality brand image, this luxury brand keeps a constant relationship with its customers. Ralph is a truly inspired and continuously aspiring designer. (Garvin, 2008)
Six years after deciding to be an independent public company in late 2000, Coach Inc.’s net sales had grown at a compounded annual rate of 26 percent and the stock price had increased by 1,400 percent due to a strategy keyed to a concept called accessible luxury. Coach crafted the accessible luxury category in women’s handbags and leather accessories by differentiating themselves on price, but matching competitors on styling, quality, and customer service. The accessible luxury strategy mirrors a focus (or market niche) strategy based on low costs. Coach concentrates on a narrow buyer segment and outcompetes rivals by having lower costs than rivals and thus being able to serve niche members at a lower price. Management believed that new products should be based on market research rather than on designers’ instincts. Coach utilized extensive consumer surveys and focus groups to gain insight in the market, and ultimately a competitive advantage over competition. Coach’s $200-$500 handbags appealed to both middle class consumers who now were able to afford a taste of luxury, as well as affluent consumers with the means to spend $2,000 on a handbag on a regular basis.
Calvin Klein is a known expensive brand that the upper class would be more likely to wear. The upper class is a term for “upper-income households [that] had incomes greater than $125,608”(Richard Fry & Rakesh Kochhar, Pew Research Center). Using Kendall Jenner as the model in its advertising, gives consumers and potential consumers the idea that owning something from Calvin Klein means you are wealthy because it is a brand that celebrities wear and endorse. This makes the product very attractive to teenagers who are trying to impress their
Louis Vuitton, a French designer and entrepreneur quickly made a name for himself in the fashion industry by becoming Napoleon’s wife “personal box-maker and packer.” At the age of sixteen, Vuitton and his family started the legendary workshop by creating travel trunks and the famous unpickable locks in 1859 (Louis Vuitton, 2015). As the legendary brand continues to remarkably exceed both sales and expectations, Louis Vuitton as a brand strives for pure distinction and exclusivity.
Companies across the world display their products through advertisements in order to sell products to a specific audience, glorify a glamorous lifestyle, and ultimately establish a brand built upon desire. Michael Kors is a name brand designer who began designing in New York City, later, branching out nationwide. He now, owns a worldwide chain of stores that sell products such as designer clothing, handbags, shoes, watches, and other accessories, dominating the shopping industry simply because of its chic style and brilliant advertising. It is no secret that Michael Kors represents an image of higher living and what he refers to as the “Jet Set” lifestyle. Their products are plastered all over shopping centers and billboards, being worn
Polo Ralph Lauren not only owned retail stores, but also under other retailers such as Nordstrom, Macy’s, Dillard’s, Belk, Saks Fifth Avenue, and various other retailers. The unique selling proposition of Ralph Lauren brands go about defining themselves as not like the others, is to develop a positioning that’s intended for a narrower target to make them unique. Most luxury brands fall into this fashion unique style categories. Ralph Lauren Company wants potential customers to know all the ways that they are better than others, and as a result their advertising focuses on product benefits. The result is to grab the attention of their customers. The emotional appeal of this brand is to increase your self esteem and leaves you feeling high class and
Miuccia Prada once said that “What you wear is how you present yourself to the world, especially today, when human contacts are so quick. Fashion is instant language”. Miuccia Prada and the Prada brand have grown from humble beginnings making quality leather goods to a public traded company with a current market capitalization of over $26 billion (USD) . With the development of Prada as one of the world’s premier luxury brands it provides an excellent case study to examine how strategy paved the way for the success of the Prada brand. First, an examination of Prada’s strategic positioning against luxury brand rivals Louis Vuitton Hennessey Moet (LVHM) and Kering (Gucci). The acquisition history of Prada will be reviewed, where some preliminary conclusions can be made about what has been contributing factors to both the successes and failures. Then finally, an evaluation of what the future holds for Prada and the sustainability of its competitive advantage.
Charles & Keith, a well-recognized women’s footwear brand was established in 1996 in Singapore Amara shopping centre by the two young brothers, Charles Wong and Keith Wong. The company began its foreign market venture in 2000. To date, Charles and Keith has a presence in more than 20 major cities around the world. The brand are well-known internationally today with the vision “to be the most admired fashion-forward company” and the mission “to offer high quality products and services, with a commitment to perfection” in mind all the time (Charles & Keith, 2013).
The Apparel or clothing industry is a very dynamic market where changes occur in a daily basis. So, rivals within this industry assist to an extreme competition. To make sure that, they stay relevant in the market scene, businesses have to develop creative, innovative and sustainable marketing strategies to attract more customers and increase their brands awareness. Because, this industry has many players, we have chosen one well known company to make our research more specific and well centered. Hennes and Mauritz AB commonly known as H&M is our best choice because, this
Purpose of Promotions and Advertising The purpose of promotion is to communicate directly with potential or existing customers, in order to encourage them to buy the product and recommend it to others. The promotional mix involves different forms of promotions. There are: * Personal selling * Public Relations * Sales promotion * Direct Marketing * Trade Fairs and Exhibitions * Sponsorship * Advertising v Personal selling It is a form of promotion which involves direct contact between the Lancôme's sales representatives and prospective customers. Normally it can be seen on the street or in centres. Advantages * It is easier to persuade customers to buy the product * The selling person may know what the feeling/reaction of the customers is * It is clear to let customers know everything about the product such as functions, where it made and background etc Disadvantages *
In addition, effective advertising can keep a consumer’s mind fresh about the image of a brand, which develops the trace of the memory where consumers have to choose between two or more products. Moreover, it may change the product quality, create new, well-designed and elegant product and change consumers view towards the product. Lastly, by effective advertising program, company may save money and time as salesperson does not need to inform people about the product features as it has already advertised.... ... middle of paper ... ...
Nowadays, advertisements are everywhere embedded in our daily life. They are powerful resources that inform people the latest news about a particular product or brand in many different ways. Most of the people are being able to get more information and detail of a product from media, radio stations, newspapers and internet. Even though advertising is a big informative source, it also can be considered as a marketing tool to control the mind and desires of the consumers to manipulate and persuade them to buy things they do not need.
The primary role of advertising is to inform potential customers of the products and services in the market and convince them to make a purchase. Through advertisements customers are informed of new products, their role, their benefit and the prices at which they are being made available to the customer. It is a technique used to influence people's minds and encourage more sales.