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[경영학] 명품 브랜드 코치 Coach Inc 사업전략(영문)

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레포트 > 경제경영계열
2010.12.07
22페이지 / doc
2,300원
69원 (구매자료 3% 적립)

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[경영학] 명품 브랜드 코치 Coach Inc 사업전략(영문)에 대한 자료입니다.

1. What are the defining characteristics of the luxury goods industry? What is the industry like?

2-1. What is competition like in the luxury goods industry? What competitive forces seem to have the greatest effect on industry attractiveness?

2-2. What are the competitive weapons that rivals are using to try to outmaneuver one another in the marketplace? Is the pace of rivalry quickening and becoming more intense? Why or why not?

3. How is the market for luxury handbags and leather accessories changing? What are the underlying drivers of change and how might those driving forces change the industry?

본문내용

(1) Higher Income and Big-box Discounters ⇒ Purchase Power
Growth in luxury handbag market was basically fueled by the key factors that drive the overall luxury-goods market. It usually depends on consumer buying habits, such as purchasing power or willingness to buy the products.
Firstly, increasing incomes definitely lead to higher purchasing power. More incomes in developing countries enable people to purchase handbags at a higher price. Also, the middle-income consumers now become emerging target consumers with a increasing incomes and growing desire for luxury handbags and quality leather goods, whereas only a few percentage of wealthy consumers are interested in carrying decent handbags a couple of years ago. Furthermore, double-income family also fueled the higher purchasing power so that they are willing to spend additional dollars on luxury handbags.
In addition, big-box discounters such as Wal-mart or JC penny play a significant role to attract potential consumers by saving dollars on their daily grocery shopping, which enables consumers spend more dollars on luxury goods.
Growing purchase power is the prime factor to enlarge the luxury handbag market. To keep pace with the emerging new consumers who get increasing incomes, several companies that produce luxury handbags and leather accessories tend to focus on “Accessible Luxuries” that attracts growing middle-income consumers more.

(2) Distribution Channel ⇒ Perception Changes
Along with increased affluence and an ability to spend more on luxury handbags, the rise of mass media, 24/7 cable news channels and the internet have brought new awareness to the mass of how the rich and famous live. This has given people everywhere a growing appetite for the good life and the feeling that it is within one’s grasp. Female consumers now tend to closely look at what celebrities carry rather than how their pants look like at red carpet. With the rich distribution channel, consumer perception on luxury handbags has been changed. As handbags are now viewed as fashion statements, female consumers are willing to pay big dollars to get the latest ones. The growth of the luxury market is spurred by consumers wanting authentic feelings stemming from having luxury brand handbags and higher demand would eventually lead to a handbag inflation that was mentioned above.

4. What key factors determine the success of makers of fine ladies handbags and leather accessories?

Before determining the key success factors of ladies handbags and leather accessories, let’s see the characteristics of female consumers to enhance the understanding. Female consumers tend to be more sensitive and pickier in their tastes than male consumers when buying products. Especially when it is about buying handbags, it means a lot to women. Handbags have been considered as something that complements women’s fashion. Unlike clothing which you can change every day, handbags are purchased less frequently with greater sum of money, making them high-involvement products. To say, women buying handbags is somewhat similar to men buying their cars. Of course, cars are way more expensive than handbags but in terms of getting satisfaction from buying the new item is almost the same. Also women use handbags to show off themselves especially when it is luxurious brand, believing that handbags have symbolic meaning of showing their values.
Like this, handbags are very meaningful item to women. Yet, there is a difference that the makers of ladies handbags should focus according to the level of handbags. Largely, it can be divided into luxury and non-luxury (mass), and both have different key success factors which are stated below.
[Key success factors for luxury and mass handbags]
Luxury Handbags Mass Handbags
-Establishing Brand Value -Considering functionality and practicality
-Differentiating from other brands -Affordable price
-Respecting VIP customers -Effective Marketing Strategy

1) Luxury Handbags
The biggest factor that luxury handbag makers should keep in mind in order to success seems to be how well they have constructed the brand image in consumers’ minds. As mentioned before, in terms of conspicuous consumption, the main reason for purchasing luxurious goods is to indirectly show off their wealth and notify that they are somewhat different from other ordinary people. Like Chanel or Louis Vuitton, luxurious brands usually have their own special logo and pattern to represent them. It is no exaggeration to say that consumers buy luxury handbags by just seeing that special pattern itself. So, luxury handbag makers should design their products in a way that could highlight the characteristic of their brand the most. If Chanel had designed their handbags making its pattern hidden or hard to see, it will probably appeal less to consumers. This is why luxury handbag makers should focus on differentiating their brands from others to prevent frequent brand switching. This can be don

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