Recommendation for Coach
The fashion retail industry is highly prone to constant changing market trends and consumer preferences. Creativity and having a strong differentiation strategy is the key to being a market leader in the fashion industry. Coach uses product differentiation as their business level strategy positioning itself as an “accessible luxury brand” but somewhere lacks in adding value to the brand. Looking at competing brands Kate Spade apparel reflects Lloyd’s quirky tastes. Ralph Lauren has built his brand around the upper – crust English country life and the American West. Michael Kors sells itself as fashion jet setters. Tory Bruch’s brand revolves around her life as a successful fashion figure and single mom. What does Coach …show more content…
In order to be buzzing between cut throat competition in the luxury goods industry Coach will have to aggressively market its products and make a distinct image in consumer minds. The company should bring in a celebrity for their TV commercials and print ads. This new advertising strategy would translate the brand architecture of coach beautifully, with ad campaigns featuring famous celebrities promoting coach. This new ad campaign will automatically make a distinct image of Coach in consumer’s mind. Coach’s association with a famous personality like Jennifer Lopez or Julia Roberts will enhance the brand’s perceived value …show more content…
They have used cooperative strategies such as joint ventures or equity partnerships extensively to enter new markets. They also outsource their manufacturing to independent manufacturers to capitalize on the manufacturers’ core competency. Therefore, Coach`s current strategy is consistent with the SWOT matrix with the exception of becoming more vertically integrated by entering the manufacturing part of the value chain.
SWOT Analysis
Strength 1.They have artistic craftsmanship of leather goods
2. Advertising on internet and shopping centers
3. 70+ years of design experience which have attracted customers since then.
4.Attracts wealthy as well as lower income customers because of the lower priced items compared to competitors
5. Large range of product variety available in different price range
6.Multiple Channel and geographical coverage
7.They are located in 730 cities and have about 12000 employees
8. Product Innovation, Relevance and Excellent value
Weakness 1.Too many different segments into which they have spread leading to low inventory
The fashion retail industry is highly prone to constant changing market trends and consumer preferences. Creativity and having a strong differentiation strategy is the key to being a market leader in the fashion industry. Coach uses product differentiation as their business level strategy positioning itself as an “accessible luxury brand” but somewhere lacks in adding value to the brand. Looking at competing brands Kate Spade apparel reflects Lloyd’s quirky tastes. Ralph Lauren has built his brand around the upper – crust English country life and the American West. Michael Kors sells itself as fashion jet setters. Tory Bruch’s brand revolves around her life as a successful fashion figure and single mom. What does Coach …show more content…
In order to be buzzing between cut throat competition in the luxury goods industry Coach will have to aggressively market its products and make a distinct image in consumer minds. The company should bring in a celebrity for their TV commercials and print ads. This new advertising strategy would translate the brand architecture of coach beautifully, with ad campaigns featuring famous celebrities promoting coach. This new ad campaign will automatically make a distinct image of Coach in consumer’s mind. Coach’s association with a famous personality like Jennifer Lopez or Julia Roberts will enhance the brand’s perceived value …show more content…
They have used cooperative strategies such as joint ventures or equity partnerships extensively to enter new markets. They also outsource their manufacturing to independent manufacturers to capitalize on the manufacturers’ core competency. Therefore, Coach`s current strategy is consistent with the SWOT matrix with the exception of becoming more vertically integrated by entering the manufacturing part of the value chain.
SWOT Analysis
Strength 1.They have artistic craftsmanship of leather goods
2. Advertising on internet and shopping centers
3. 70+ years of design experience which have attracted customers since then.
4.Attracts wealthy as well as lower income customers because of the lower priced items compared to competitors
5. Large range of product variety available in different price range
6.Multiple Channel and geographical coverage
7.They are located in 730 cities and have about 12000 employees
8. Product Innovation, Relevance and Excellent value
Weakness 1.Too many different segments into which they have spread leading to low inventory