Micheal Kors
Michael Kors has regularly developed unique brand images across a huge number of merchandises, price, and geographical markets over the past years. The quality and design detail across product lines are represented through superior price points and encourage repeat purchases among a growing customer base. MK distributes in operations into three business segments: Retail, Wholesale, and Licensing as well as the company competes the high end brands like LV, Coach and Burberry.
In my assignment, I will start defining the target customers for MK by looking at four major variables: 1- Geographic. 2- Demographic. 3- Psychographics. 4- Behaviouristics. First of all is a geographic variable. A target markets or customers for MK usually live in developed countries such as North America, Europe, and Japan as well MK has entered in certain geographic area to sell and distribute its products such as Russia, Turkey, the Middle East…etc. MK has moved in these markets by signing a number of licensing agreements because MK does not have substantial operating experience in these countries, however, the premium customers are still in North America, Europe, and Japan. Regarding Canada, MK has opened 31 stores across the country and the stores are distributed in the province as the following:
1. Ontario 13 Stores: The majority located in GTA and one store in Ottawa.
2. Quebec 7 Stores in Montreal, Laval and Quebec City.
3. Alberta 6 stores in Edmonton and Calgary.
4. British Colombia 4 Stores in Vancouver and Richmond.
5. Manitoba 1 Winnipeg From the above list, we realize that MK products are being bought in a large urban city in Canada.
The second variable is demographics. MK opens retail stores in primarily high traffic, urban areas within mall locations in higher income demographic in Canada. For instance, Ottawa, the capital of Canada, is considered one of the cleanest cities in Canada, famous as one of the most educated cities as well as the fourth
In my assignment, I will start defining the target customers for MK by looking at four major variables: 1- Geographic. 2- Demographic. 3- Psychographics. 4- Behaviouristics. First of all is a geographic variable. A target markets or customers for MK usually live in developed countries such as North America, Europe, and Japan as well MK has entered in certain geographic area to sell and distribute its products such as Russia, Turkey, the Middle East…etc. MK has moved in these markets by signing a number of licensing agreements because MK does not have substantial operating experience in these countries, however, the premium customers are still in North America, Europe, and Japan. Regarding Canada, MK has opened 31 stores across the country and the stores are distributed in the province as the following:
1. Ontario 13 Stores: The majority located in GTA and one store in Ottawa.
2. Quebec 7 Stores in Montreal, Laval and Quebec City.
3. Alberta 6 stores in Edmonton and Calgary.
4. British Colombia 4 Stores in Vancouver and Richmond.
5. Manitoba 1 Winnipeg From the above list, we realize that MK products are being bought in a large urban city in Canada.
The second variable is demographics. MK opens retail stores in primarily high traffic, urban areas within mall locations in higher income demographic in Canada. For instance, Ottawa, the capital of Canada, is considered one of the cleanest cities in Canada, famous as one of the most educated cities as well as the fourth