Gap Inc. is a global specialty retailer selling casual apparel, accessories and personal care products for men, women and children. They sell their products in United States, Canada, Europe and Japan. Gap's revenue comes from selling classically styled jeans, khakis, t-shirts, personal care products, sleepwear, and other basic wardrobe items. Gap offers products for babies, children, pre-teens, teens, and adults.
Gap Inc. was incorporated in July 1969. It began as a single store in San Francisco, California. It was founded by Donald and Doris Fisher. It went public in 1976. In 1983 it bought Banana Republic. In 1986, it opened a new segment for kids called GapKids which was followed by Baby Gap in 1990.
The mission statement of Gap Inc. is as follows: Gap Inc. is a brand-builder. We create emotional connections with customers around the world through inspiring product design, unique store experiences and compelling marketing.
The purpose of Gap Inc. is stated as: Simply, to make it easy for you to express your personal style throughout your life. The values that Gap Inc believes has guided its success are: integrity, respect, open-mindedness, quality and balance.
The strategy that Gap Inc has followed in order to achieve its mission are:
1. Sell various goods under the brand name. Segmentation of Products: Gap Adult, GapBody, GapKids, babyGap and GapMaternity
2. Different Gap Brands targeted different age groups. Target men and women of all ages through it's store concepts.
3. Hybrid strategy of cost leadership and differentiation
4. Sell a wide range of products and provide the best customer experience
5. Achieve Market share by opening many stores
The company's business objectives are to create shareholder value and to provide the best customer experience. They want customers to know that when they walk into a store they are walking into a brand. The company keeps a high degree of control on its store as all of them are... [continues]
Cite This Essay
(2006, 11). Gap. StudyMode.com. Retrieved 11, 2006, from http://www.studymode.com/essays/Gap-98655.html
"Gap" StudyMode.com. 11 2006. 11 2006 <http://www.studymode.com/essays/Gap-98655.html>.
"Gap." StudyMode.com. 11, 2006. Accessed 11, 2006. http://www.studymode.com/essays/Gap-98655.html.