New Era Cap Co. Inc. Product Life Cycle
Hats are a product that have become deeply incorporated in the American culture and lifestyle. In the United States, hats are nearly always present in everyday life, from sports events (i.e. baseball games) to the streets of New York where one might see people wearing hats as a fashion accessory in their everyday life. Today, there are a plethora of different styles and varieties of hats. For example, one can buy university hats, sports teams hats and even superhero hats, thus causing the hat industry grow everyday. In this paper, I will analyze the hat industry life cycle, specifically focusing on the “New Era” company, one of the most popular hat companies in the United States and worldwide.
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There is also a section of superhero hats that range from approximately U$20.00 to U$50.00. The hats labeled as “sales items” range from U$10.00 to U$35.00. In the United States, a great percentage of the New Era products are sold online on New Era's website. The website is very easy and friendly to use, providing pictures of every single product available, making it extremely easy and convenient to purchase New Era products online. In the US, there are also specialized retail stores such as “LIDS” that strictly sell hats, with New Era being their most predominant brand. In countries like Brazil and countries in Europe, there is no specialized store like “LIDS,” but there are New Era hats being sold at stores specialized in sports. In these countries, New Era also runs their own retail stores where they have all of the same styles of hats than the ones available on the website, making them dream stores for hat lovers. Much of New Era's promotion is done through sports events to target their main public. An example of that is the fact that New Era makes the hats of all Major League Baseball teams, while also holding over 200 licenses to make hats for other various sports teams. New Era also sponsors major events in the sports world, such as the 13th Annual Transworld Skateboarding Awards. Furthermore, in April of 2012, New Era became the official on-field hat provider for the