Mkt 501 Case Study Module 1 Target Market Coach Handbags
Target Market for Coach Handbags
When trying to define the specific target market for Coach handbags we first need to identify those who have a desire, financial means, are eligible and have the authority to make a purchase (Christ, 2008a). There are typically two main markets that Coach will need to look at and those are the individuals who will purchase at the full-price and then those that will only purchase at a discounted price. The full-price purchaser is around her mid thirties and is either single or newly married working-woman. Those that will only purchase at a discounted price is typically in her early- to mid-forties and is a professional mom with children who looks for function over fad. There is also a target to market to international consumers especially the Japanese consumer. (Coach Company Profile, n.d.).
Over-all Coach’s typical target market for handbags is a middle class or higher woman who enjoys carrying quality handbags. These women are of all ethnicities that do not mind paying a little more for the quality and prestige that Coach products offer. Women who also look for brand names, luxury handbags and want to stay on top of the newest fashions are also a target market for Coach handbags. Men looking for a great gift for their wife, girlfriend, sister, mom or other important female in their life is another target market for this product. There are many women who look for a discount, but still want that image that goes along with purchasing a Coach handbag that need to be in the target market. Coach handbags make a fashion statement and the target market needs to be on those individuals who want the best and newest handbags that the industry has to offer. The last target market can be defined as those customers who have already purchased Coach handbags. These women already enjoy the prestige that goes along with owning a luxury handbag. (Coach Company Profile, n.d.; Foster, 2006).
Economic Environment Influences on Coach Handbags Customers
When trying to define the specific target market for Coach handbags we first need to identify those who have a desire, financial means, are eligible and have the authority to make a purchase (Christ, 2008a). There are typically two main markets that Coach will need to look at and those are the individuals who will purchase at the full-price and then those that will only purchase at a discounted price. The full-price purchaser is around her mid thirties and is either single or newly married working-woman. Those that will only purchase at a discounted price is typically in her early- to mid-forties and is a professional mom with children who looks for function over fad. There is also a target to market to international consumers especially the Japanese consumer. (Coach Company Profile, n.d.).
Over-all Coach’s typical target market for handbags is a middle class or higher woman who enjoys carrying quality handbags. These women are of all ethnicities that do not mind paying a little more for the quality and prestige that Coach products offer. Women who also look for brand names, luxury handbags and want to stay on top of the newest fashions are also a target market for Coach handbags. Men looking for a great gift for their wife, girlfriend, sister, mom or other important female in their life is another target market for this product. There are many women who look for a discount, but still want that image that goes along with purchasing a Coach handbag that need to be in the target market. Coach handbags make a fashion statement and the target market needs to be on those individuals who want the best and newest handbags that the industry has to offer. The last target market can be defined as those customers who have already purchased Coach handbags. These women already enjoy the prestige that goes along with owning a luxury handbag. (Coach Company Profile, n.d.; Foster, 2006).
Economic Environment Influences on Coach Handbags Customers
References: Berfield, S. (2009). Coach’s poppy line is luxury for recessionary times. Retrieved March 28, 2011 from conventional wisdom—and why they are wrong. Retrieved March 28, 2011 from http://www.wsj.com Foster, L Retrieved March 28, 2011 from http://us.ft.com/ftgateway/superpage.ft?news_id=fto041820061305334647 Hamm, S