Michael Kors offers a range of high quality clothing, accessories, and handbags that embody a jet-set lifestyle. They differentiate their simple yet sophisticated designs from competitors and maintain brand consistency through diffusion lines and annual fashion shows. Key elements of their marketing mix include global retail expansion, celebrity endorsements, and social media engagement to build their image and drive sales.
PRESENTATION ON BRAND PORTFOLIO VIVIENNE WESTWOODPOOJA
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This presentation covers:
Below are the majorly covered points:
1) About the brand.
2)Target customers and competitors.
3)Brand identity and portfolio
4)Flanker brand portfolio theory.
5) Brand architecture
So proud of my first market report for the university especially because of the visual layout and the photographs. Photography, art direction and styling by me. Created with #indesign
PRESENTATION ON BRAND PORTFOLIO VIVIENNE WESTWOODPOOJA
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This presentation covers:
Below are the majorly covered points:
1) About the brand.
2)Target customers and competitors.
3)Brand identity and portfolio
4)Flanker brand portfolio theory.
5) Brand architecture
So proud of my first market report for the university especially because of the visual layout and the photographs. Photography, art direction and styling by me. Created with #indesign
Stella McCartney Trend Research and Design ConceptsTanise Edwards
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The combination of Stella McCartney's corporate research, customer research, color and trend research, and a new concept and fashion board for a possible upcoming Stella McCartney line.
Retail Management project choosing a selected store of our choice and analysing it in order to propose new ideas to better it so that it can compete alongside it's competitors
Viktor & Rolf STPR - Marketing ProjectAaliyaGujral
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A marketing project about the Segmentation, Targeting, Positioning and Repositioning of the brand Viktor & Rolf. It is a mock report with proposed repositioning.
This ppt is about the brand CHANEL brand identity prism which applies on human traits to a brand to recognize what consumers actually think of the brand.
1) Physique â Physique is the basis of the brand. It may include product features, symbols, and attributes.
2) Personality â Personality defines what personality will the brand assume if it were a person. Personality includes character and attitude.
3) Culture â Culture takes a holistic view of the organization, its origins and the values it stands for.
4) Relationship â The strength of the relationship between the brand and the customer. It may represent beliefs and associations in the human world.
5) Reflection â What does the brand represent in the customers' mind or rather the customer mindset as reflected on the brand
6) Self-image â How does the customer see himself when compared to the brand.
reference of the above-mentioned
content:http://www.marketing91.com/brand-identity-prism-pepsi/
this presentation has been made as assignment by the Afghanistan scholars in SCMHRD, and got great score among other presentation, data which has been used for this presentation was from secondary resources. from up to bottom the brand prism it describe that what companies send the picture and what the customer receive the picture of brand and company, it all related how good the company do the brand prism job.
Stella McCartney Trend Research and Design ConceptsTanise Edwards
Â
The combination of Stella McCartney's corporate research, customer research, color and trend research, and a new concept and fashion board for a possible upcoming Stella McCartney line.
Retail Management project choosing a selected store of our choice and analysing it in order to propose new ideas to better it so that it can compete alongside it's competitors
Viktor & Rolf STPR - Marketing ProjectAaliyaGujral
Â
A marketing project about the Segmentation, Targeting, Positioning and Repositioning of the brand Viktor & Rolf. It is a mock report with proposed repositioning.
This ppt is about the brand CHANEL brand identity prism which applies on human traits to a brand to recognize what consumers actually think of the brand.
1) Physique â Physique is the basis of the brand. It may include product features, symbols, and attributes.
2) Personality â Personality defines what personality will the brand assume if it were a person. Personality includes character and attitude.
3) Culture â Culture takes a holistic view of the organization, its origins and the values it stands for.
4) Relationship â The strength of the relationship between the brand and the customer. It may represent beliefs and associations in the human world.
5) Reflection â What does the brand represent in the customers' mind or rather the customer mindset as reflected on the brand
6) Self-image â How does the customer see himself when compared to the brand.
reference of the above-mentioned
content:http://www.marketing91.com/brand-identity-prism-pepsi/
this presentation has been made as assignment by the Afghanistan scholars in SCMHRD, and got great score among other presentation, data which has been used for this presentation was from secondary resources. from up to bottom the brand prism it describe that what companies send the picture and what the customer receive the picture of brand and company, it all related how good the company do the brand prism job.
A Marketing Research Proposal for Michael Kors (March 2016)Ashley Peterson
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This Marketing Research Proposal was developed for IMC 611 - Marketing Research & Analysis at West Virginia University.
The research proposal was developed to bring Michael Kors a greater understanding of its core customerâs way of thinking to drive future brand strategies focused on rebuilding loyalty and, in turn, driving sales to back to where they used to be prior to MK and similar brands becoming more widely available to the masses and losing their "cool factor".
What is Category Marketing?
Itâs looking at your brand / consumer relationship in a totally different light. Seeing opportunity in categories you don't find yourself in. Itâs both exciting and empowering idea that has been around for a long time can be a great way to infuse new campaigns with a greater purpose.
www.basetwo.co.za
@basetwodigital
@mlwrose
Integrated Marketing Communication Plan for Folli Follie Spyros Langkos
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As Gabrielle Coco Chanel once mentioned: âLuxury is a necessity that begins where necessity endsâ
This study concentrates on the integrated marketing communications plan of the Greek company Folli Follie (personal luxury products retailer) and how it is implemented across international culture: the expansion in China.
This report was created to point out the mixed marketing communications plan for Folli Follie, in order to strengthen the FF Group reputation and motivate the end-user confidence.
Key factors for this communication are International Culture and Access to Global Market. We choose to focus on these two topics, because international employees and customers need more guidelines on these specifics.
ďˇ International Culture: raise awareness upon cultural differences and increase diversification rates.
ďˇ Access to Global Market: to expand the awareness of the impact of the Global Environment in new emerging markets.
The guidelines include:
- Branding: create & use consistent message and image
- Efficiency: create re-usable content & high impact channels,such as a multimedia website and social media
- Data metrics: plan activity measurements & future decision making data.
The Goals of this plan form from three levels:
1) Strengthen the reputation of Folli Follie
2) Attract new customers and enhance satisfaction
3) Create engagement and positive industry buzz (word of mouth)
The purpose of this plan is to support the practices, policies and the action plan of the Folly Follies Group and relate them with the business goals and vision, in order to raise awareness, loyalty and customer relationship.
This report strongly recommends the enhance of the companyâs recent global campaign theme â What are you crazy for? â, based on the results of the situation analysis.
The primary targets of this communications are the Chinese youth, the international employees of the group and the Chinese post-modern woman & man. Secondary targets are Chinaâs major cities, fashion shows, local agencies.We have investigated the possible launch of the Folli Follie in China, where we will try to combine the Folli Follieâs âway of doingâ with the local Chinese market.
Our mission therefore, is to successfully introduce the brand, while paying attention to the Chinese needs and expectations.
History and achievements of the company:
Folli Follie is a Greek company which designs, manufactures and distributes jewelry, watches and fashion accessories. The company offers assortments in fashion accessories such as handbags, small leather goods, belts and sunglasses. Following a philosophy of affordable, fashionable luxury, the exclusively designed pieces add breadth to the companyâs identity and are now globally recognized amongst accessories brands. Folli Follie established itself as a pioneer in the market when it introduced, amongst its first collections jewelry creations made of silver combined with murano g
COURSE TEXT Chapter 12 Cited Keegan, W. J., & Green, M. C. (2020CruzIbarra161
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COURSE TEXT: Chapter 12 Cited: Keegan, W. J., & Green, M. C. (2020). Global marketing (10th ed.). Retrieved from https://www.vitalsource.com
2 Global Marketing Channels and Physical Distribution
Learning Objectives
12-1 Identify and compare the basic structure options for consumer channels and industrial channels.
12-2 List the guidelines companies should follow when establishing channels and working with Âintermediaries in global markets.
12-3 Describe the different categories of retail operations that are found in various parts of the world.
12-4 Compare and contrast the six major international transportation modes and explain how they vary in terms of reliability, accessibility, and other performance metrics.
Case 12-1 Welcome to the World of Fast Fashion
The world of global fast-fashion is like a three-way horse race. Spainâs Inditex SA is the parent company of specialty retailer Zara; Sweden is home to Hennes & Mauritz AB, better known to shoppers as H&M; and Uniqlo is the flagship brand of Japanâs Fast Retailing.
Part of the appeal of fast fashion is the low prices. Also attractive is the speed at which Âinventories are replenished and updated with affordable versions of the latest runway trends from the worldâs Âfashion capitals. The need for speed is fueled in part by social media. A key element for some fast-fashion brands is sourcing clothing from countries with low-cost labor in Asia and elsewhere. In Cambodia, for example, more than 400 garment factories are registered exporters.
However, some industry observers note that low prices actually carry high social and environmental costs. Chasing the latest trends means that shoppers often discard inexpensive garments after wearing them just a few times. This leads to a consumer mindset that clothing purchases are disposable, rather than long-term investments. Critics assert that unwanted clothing often ends up in landfills, and that the fast-fashion trend is not sustainable (see Exhibit 12-1).
Exhibit 12-1
Some critics assert that the fast fashion trend contributes to overproduction and a âthrow-awayâ mentality. The result is vast quantities of discarded clothing as well as "deadstock" (out-of-season garments and unused textiles). This Saks Fifth Avenue window display by Vetements was designed to call attention to the problem.
For years, Tadashi Yanai, the founder of the Uniqlo (âUnique Clothingâ) chain, pursued a business model that differentiated his company from its European rivals. Uniqloâs focus was on everyday basics and a new-product development process that relied heavily on innovative materials.
Inditex is the worldâs largest fashion retailer, with more than 7,000 stores in 92 countries. In addition to Zara, its brands include Bershka, Pull & Bear, and Massimo Dutti. The company does not advertise, and its motto is âThe company doesnât speak; the customer speaks for the company.â Unlike some of its competitors, Inditex keeps nearly two-thirds of ...
Westfield Innovative Business Retail Proposal Erika Lee
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This proposal aimed to empower the next generation of innovators to create a futuristic retail idea, concept and design that could be seen at Westfield Stratford City in 2021.
The Ultimate Fashion Career Guide: Discover how your skills and interests ali...Yellowbrick1
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The fashion industry is the business around apparel: fashion design, manufacturing, marketing, and retail. With the fashion industry expanding as quickly as it has, career possibilities in fashion are growing. What are those positions and how do you get started?
Since the turn of the century, designer fashion brands have ceded ground to sportswear, lingerie, and denim companies, as well as brand retailers. These brands, retailers, and e-commerce brands offer more affordable products manufactured on a mass scale, providing more accessibility to a broader demographic of consumers, known as fast fashion.
Nike has solidified itself as a significant force in the global sports apparel market that generated around $191 billion in 2022. In 2021, the global denim fabric market was valued at approximately $18.1 billion. The global lingerie retail market was valued at $43.2 billion in 2020, and is forecast to reach a value of $84.2 billion in 2028. In its entirety, the global apparel market was worth more than $1.5 trillion in 2022.
To help you determine and achieve your fashion industry career goals, we have created this comprehensive guide. Yellowbrickâs Ultimate Fashion Career Guide is your source to discover job opportunities and learn entry points into the fashion industry. In this guide, you can begin to explore the jobs that drive the market, then search for your perfect career by area of interest, skills, companies, or industry experts.
Learn about your skills and interests, and articulate them confidently to identify career options within the industry that you might pursue. Then implement a successful strategy to attain your desired career outcomes.
In this guide youâll find the following information:
⢠Overview of the fashion industry
⢠Future of the fashion market
⢠Fashion Career Library
⢠Career Planning Strategy to get into the fashion industry
Youâll also find simple exercises that help you:
⢠Form a career planning strategy to get into the fashion industry
⢠Find your passion in fashion and identify an area of interest to pursue
⢠Learn the fashion industry through top studios and its key players
⢠Identify your skills and match them to a fashion area of interest
Looking to learn more about the fashion industry as a whole, the opportunities in fashion, or build the skills you need? Explore our Fashion Industry Essentials course featuring Parsons School of Design and Teen Vogue to learn the ins and outs of the fashion industry while building your expertise in visual style, portfolio design, fashion production, and fashion marketing and public relations.
The Ultimate Fashion Career Guide: Discover your skills and interests to help...Rob Kingyens
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The Ultimate Film Career Guide
Discover your skills and interests to help you determine and achieve your film career goals.
The United States box office revenue grew from $10 billion dollars in 2012 to $11.3 billion in 2021. China was the largest box office market in the world in 2020. The U.S. and Canada ranked second with Sony Pictures leading the way behind a domestic box office gross of $500 million dollars. With that type of economic growth, the business side of film has had to change drastically to keep pace. There are more people involved in making a film, with jobs delegated between pre-production, production, and post-production. What are those film careers and how do you get started?
To help you determine and achieve your career goals, we have created this comprehensive career guide. Yellowbrickâs Ultimate Film Career Guide is your source to discover jobs in film and learn entry points into the film industry. In this guide, you can begin to explore the jobs that drive the market, then search for your perfect career by area of interest, skills, companies, or industry experts.
Learn about your skills and interests, and articulate them confidently to identify film career options within the industry that you might pursue. Then, implement a successful strategy to attain your desired outcomes.
In this guide youâll find the following information:
⢠Overview of the film industry
⢠Future of the film market
⢠Film Career Library
⢠Career Planning Strategy to get into the film industry
Youâll also find simple exercises that help you:
⢠form a career planning strategy to get into the film industry
⢠find your passion in film and identify an area of interest to pursue
⢠learn the film industry through top studios and its key players
⢠identify your skills and match them to a film area of interest
Whether youâre a novice, a student, or a professional, you can further your career path through this guide that will help you begin understanding opportunities available in the film industry, as well as the skills and qualifications you need to succeed.
Write a five to seven (5-7) page paper in which you1. Compare a.docxambersalomon88660
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Write a five to seven (5-7) page paper in which you:
1. Compare and contrast the major characteristics of the political and reform eras of policing.Â
2. Identify the skills and knowledge that are imparted to police trainees during their academy training and explain the importance of these skills in relation to real world applications.
3. Provide your own definition of community-policing and explain the difference between community policing and traditional policing.
4. Critically examine the important elements of implementation and evaluation phases of community policing and problem solving.
5. Determine the top five (5) qualities that detectives and undercover officers need to possess (one [1] being the most important). Provide a rationale for your response.
6. Use at least four (4) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
MBA 6601, International Business 1
Course Learning Outcomes for Unit VI
Upon completion of this unit, students should be able to:
8. Examine the major marketing considerations applicable to international business.
Reading Assignment
In order to access the following resource(s), click the link(s) below:
Dev, C. S., & Schultz, D. E. (2015). From the four Ps to the four âwhyâsâ. Marketing News, 49(9), 40â47.
Retrieved from
https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
t=true&db=bth&AN=109289010&site=ehost-live&scope=site
Seeds, D., & Khade, A. S. (2008). Transforming a multi-national corporation from a centralized organization to
a decentralized organization. Journal of International Business Strategy, 8(3), 99â104. Retrieved from
https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
t=true&db=bth&AN=35637667&site=ehost-live&scope=site
Van Meir, C. (2016). Branding benefits: Apply the four Ps of marketing to make benefits more engaging.
Benefits Magazine, 53(3), 34â39. Retrieved from
https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
t=true&db=bth&AN=113183936&site=ehost-live&scope=site
Unit Lesson
There are two ways to look at global marketing strategies. One way is to look at a companyâs marketing
orientation. Marketing orientation refers to the philosophy that guides a companyâs marketing strategies. In
the United States, marketing orientation started with the production concept (1920s) and evolved to the
present day holistic marketing concept. Along the way, several distinct variations emerged that seem to work
well in the foreign markets. These orientations depend on the types of products produced and the types of
buyers purchasing the goods. T.
Interbrand Breakthrough Brands Report 2021 Social Samosa
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Interbrand Breakthrough Brands Report for 2021 outlines the 30 brands that are challenging their respective categories and breaking through in the US market and the key trends that are shaping the future and more.
2. Executive Summary
This report conducts an in-depth analysis of Michael Kors â it analyses their customer market
and its segmentation, competition, position in the market and its marketing mix. To do this,
a number of research methods were employed. Firstly, primary research was gathered in the
form of interviews with employees and customers of Michael Kors. Secondly, a comprehensive
amount of secondary research was conducted in order to understand more about the brand, itâs
values and what itâs product was. Then, a SPICC and PESTLE analysis was done in order to ana-
lyse the current state of their micro/macro environment. Post-research, it was easy to ascertain
what their marketing mix was and who their competition would be. Based on their competition
and sources such as Business of Fashion, a perceptual market position map was created in order
to help judge Michael Kors against its competitors. After this, a SWOT analysis of the brand
was prepared in order to weigh out their strengths and weaknesses â this was crucial in helping
to create a conclusion and any recommendations for the brand in order to move forward and
improve themselves.
At the end of the report, it was recommended that Michael Kors continue their social media
relationships with their customers. It was also suggested that the brand pay more focus on their
older clientele and quality of their products as well as try to lessen their mainstream quality
through the heightening of exclusivity by new collections with different prices or marketing
strategies.
Words: 245
4. Introduction
Michael Kors Holding Ltd is an American-based luxury designer brand. It was founded
by designer Michael Kors in 1981 and after a tumultuous journey they have recently
found themselves as on of the leading pioneers of fashion for todayâs generation. Mi-
chael Kors bases their fashion on the theme of a âjet-set juggernautâ (Business of Fash-
ion, 2015), therefore becoming famous for their âfast fashionâ. Their high quality de-
signer products are sold at a slightly lower price than other designer brands, making it
more accessible to the masses. They produce clothing, resortwear, accessories, handbags
and footwear for both men and women (Singer, 2013). The brand suffered serious losses
and managed to procure a staggering comeback in 2013, rising quickly to the top and
identifying itself as a luxury brand on par with brands such as Coach. According to the
Business Insider, in Fall 2010 there was no mention of Michael Kors anywhere in their
surveys of âfavourite brandsâ, but in 2013 it was near the top (Lutz, 2013). Michael Kors
pride themselves on their campaigns and their social media outreach, making them one
of the first designer brands to be famous on social media.
Its main headquarters are located in New York, on Madison Avenue. These headquar-
ters act as a command centre, and the 1.1 million square foot building houses most of
their main offices (Samtani, 2014). As of 2014, the brand operates around 555 stores
and 1,560 in-store boutiques in department stores worldwide (Melton,2014). Their
products manufactured in China by Sitoy Holdings Ltd, as labour costs and materials
are at a lower cost in Asia. Currently MK is licensed with Estee Lauder, Fossil and Mar-
chon 9Michael Kors Holdings Ltd., 2015).
This report contains a detailed analysis of Michael Kors by reviewing who its target cus-
tomer is and their market segmentation, marketing mix, the overall retail environment
and competition. The aforementioned research will aid in coming to a conclusion that
will outline the brandâs marketing activities by identifying underlying problems that
need to be solved.
Image: (BorgenMagazine, 2013)
5. Micro Environment Analysis
SUPPLIERS Michael Kors is mainly supplied by Sitoy
Group Holdings Ltd. This factory is located
in Hong Kong and is a major manufacturer
of high quality leather goods and travel items
(Sitoy Group, 2011). Coincidentally, it also
supplies on of Michael Korsâ biggest competi-
tors, Coach (Zhao, 2014).
PUBLIC Michael Kors have their own personal News
Releases page on their website, which allows
customers an insight into their business â for
other press related inquiries they have their
own press office and also work with Italian
press group Onward Luxury Group even
though the groupâs main focus is manufac-
turing and distribution (Onward Luxury
Group).
INTERMEDIARIES Resellers: Old stock from the company is
taken to outlets of factory outlets or given to
various online retailers to sell at a sale price.
Physical Distribution: According to MKâs
annual report 2015, they currently distribute
for themselves â âWe also have several small-
er distribution facilities across the United
States. Outside of the United States, we have
regional distribution centers in Canada, Hol-
land, Japan, and Hong Kong, which are either
leased or operated by third-parties. In April
2015, we expanded our existing distribution
facility in Whittier, California to service our
e-commerce site. In addition, during Fiscal
2016, we plan to invest in building our own
distribution facility in Holland, which will
support our European operations.â (Michael
Kors Holdings Ltd., 2015)
6. Micro Environment Analysis
Global Licensing: Currently, Michael Kors
is contractually licensing with Estee Lauder,
Fossil and also with Marchon. MK joined Es-
tee Lauder in 2003 (Estee Lauder), following
this its products are now being sold in over
30 countries and territories. Michael Kors
will be contractually bound with Fossil until
2024 and will distribute eyewear and watches
along side the brand (Michael Kors, 2014).
Fincancial: Michael Korsâ main bank dealings
are with Bank of America, HSBC and Wells
Fargo Bank (Michael Kors Holdings Ltd.,
2015).
COMPETITION MK has several competitors with similar
brand outlooks to themselves; such as Coach,
Kate Spade and Tory Burch.
CUSTOMERS Michael Korsâ target customers are most
affluent young women who embrace the con-
cept of fast fashion. They also cater to men.
7. Macro Environment Analysis
Political/Legal -Trade agreements limiting how much can go in
and out of a country.
-Environmental and ethical restrictions limiting
imports/exports.
-Tense international relations influencing trade
agreements or retail locations.
Economical -Tax inflations which cause cost of materials and
price of product to increase
-Minimum wage boundaries in different countries
influence how much each employee has to be paid
-Recessions or inflations adding pressure on
individual spending habits as there could be less
disposable income available.
Social -Current trends influencing where people buy
from or what people buy
-Cultural differences influencing what each store
sells
-Risk of certain cultures not wanting certain prod-
ucts due to cultural preferences.
Technological -Rise in online shopping leading to a fall in in-
store footfall
-Unpredictability of social media could affect sales
as itâs mass outreach determines what the most
desirable product is at any given time.
Environmental/Ethical -Counterfeit products or subtle copies being
manufactured and sold in high street stores or
bargain stores.
-Environmental impacts of import/exports may
lead to trade limitations depending on countryâs
governments and ecological footprints.
8. Market Segmentation
According to the Business of Fashion, Michael Kors is a âTeen Fashion Idolâ and the
âpreferred handbag labelâ of over 39% of average-income women (Bloomberg, 2015).
After conversing with MK sales employees (Appendix 1), it was evident that the brand
doesnât place emphasis on who their particular demographic should be. They cater to
teenagers and adults. However, the distinguishing factor between these groups would
be their fashionability and their brand consciousness â this allowed for a accurate pen
portrait to be created.
PEN PORTRAIT
NAME Jonathon Smith
AGE 25
GENDER Male
OCCUPATION Investment Banker
RELATIONSHIP STATUS Single
LIFESTYLE/HABITS Young, sophisticated, driven - likes to have fun
but also works hard and wants to do well. Spends
money but never goes overboard. Goes out with
friends once a week to a classy bar straight after
work and on the weekends likes to relax with
friends and do outdoor activities.
STYLE/TRENDS Sophisticated and classy/relaxed and sporty -
likes to look good and work so he can make a
good impression but never ventures out of the
box in terms of style as cannot not want to be
too different from his peers in a professional
workspace. When shopping he looks for smart
clothes that are designer but of good quality but
not extremely over-priced. Loves Michael Kors
because it fits these requirements and also has
outdoor wear/resort wear perfect for lounging or
going on holiday with
10. Key Competitors
Key Competitor Table
After observing the MK store in Westfields London and Bond Street, it was easy to see who their
key competitors were. The competitors highlighted on the side were chosen based on their qual-
ity, pricing, style and trends. After interviewing customers at each store (Appendix 2), it was evi-
dent that customers who shopped at Michael Kors also like to shop at Kate Spade, Coach and Tory
Burch. However, most customers based their choices on current trends, showing that thereâs no
sense of brand loyalty within Michael Korsâ customers. The perceptual map below depicts how some
of these stores fare in comparison to MK based on research conducted online and in person. Ac-
cording to Walter Loeb, writer for Forbes, Michael Korsâ biggest competitors are Coach and Kate
Spade (Loeb, 2014)
12. Perceptual Market Position
Perceptual Market Position Table:
Based on aforementioned research itâs obvious that Michael Kors is a mid-level luxury brand. While
itâs not as cheap as mid-market brands such as Zara or higher-end brands such as Reiss, it is still
cheaper than brands such as Prada and Chanel. Its position on the map acts as a bridge between
highstreet and luxury brands proving Michael Kors to be an affordable and accessible luxury brand.
13. SWOT Analysis
OPPORTUNITIES:
-To become even more active on social media: As MK
himself is the face of the brand, by engaging with consum-
ers by giving them a look into his personal life on Insta-
gram and Twitter will enhance his public image and make
him more famous by giving him a larger following.
-As they are a singular brand, they can create more lines.
Even though they already have MICHAEL by Michael
Kors and KORS by Michael Kors they can create more
that could be priced higher than average in order to give it
more exclusivity and a different feel to previous collections.
-As they have such a large following of teenaged females,
they could create a line specifically for them, expanding
their target market.
-They could develop their menâs range more as itâs signifi-
cantly smaller than the womenâs range inherently meaning
they would gain more customer.
WEAKNESSES:
-The availability of the brand to anyone and everyone
as it lessens MKâs exclusivity.
-Bargain stores: lessens price of bags and clothes
which in turn dilutes their brand image.
-Their âjet-setâ trend stops them from appealing to
a wider range of consumers, which can lessen their
profits.
-Their designs are copied by most high street retail-
ers, especially their iconic tote bag which means
customers could turn to a cheaper alternative instead
of buying the real thing.
THREATS:
-Any possibilities of an economic downturn in America
or Europe as those are their biggest markets and a re-
cession would lead to a massive fall in profits. Econom-
ic unpredictabilty leading to unstable sales patterns.
-The possibility of costs rising in an inflation as that
could mean that MK would either have to increase
prices or sell more than before in order to cover costs.
Increasing prices could harm relationships with cus-
tomers as they may not want to pay the higher price
and the need to sell more could create an added sense
of pressure to the brand which could lead to disecono-
mies of scale.
-Failing contracts: currently Michael Kors has liscens-
ing contracts with Estee Lauder, Fossil and Marchon
â if any of these were to fall through it could harm
their brand image and lessen the amount of financial
security MK has as they would have to look for new
business partners.
-Ethical problems through hiring cheaper labour in
China.
Micro-Factors
Macro-Factors
STRENGTHS:
-Brand image: leading to a better establishment in the
market and a better relationship with customers.
-Celebrity endorsements: makes the brand more
desirable as consumers want to emulate celebrities.
-Segmented independent brand: less risk financially
and the brand has more overall control over them-
selves.
-Philanthropy: âNever turn an opportunity downâ
meaning they are open to more ventures than most
brands.
-Ability to stick to their trend of âjet-set juggernautâ
-High quality products: leading to customer trust and
possibly increased loyalty.
-Global Outreach: enables them to access a large and
worldwide market, increasing overall sales and brand
popularity as it is extremely well known.
14. SWOT Analysis
MKâs SWOT analysis depicts the strengths the brand has, with focus on its global outreach and
which allows them to come across as a leader in their category of fashion. Their independent
stature means the risk of overtaking by other companies or loss of control is lessened, increas-
ing their strength as a company inclusively. The instability of economies poses a huge risk, as
it would for any company because of fluctuating sales it could procure. This can lead to uncer-
tainty throughout the brand which can cause diseconomies of scales. They have several oppor-
tunities and pathways into which they can expand, particularly in creating a line specifically for
teenagers who seems to be their main customers (Bloomberg, 2015). Their main weakness lies
within their apparent mainstream qualities as their designs are being reproduced more, meaning
there is a loss of exclusivity. Another weakness would be one suggested in Singerâs article, which
stated that customers found fluctuating levels of quality within their products â this potentially
be a threat because if customers are unhappy with the brand quality, MK could lose a significant
amount of customers; especially if knowledge of this lapse becomes widespread (Singer, 2013).
Overall, they have more strengths than weaknesses meaning that they are a strong brand, and
they have a lot of opportunity to branch out further.
15. Marketing Mix
PRODUCT:
A product means the goods-and-services combination the company offers to its target market. It
includes variety, quality, design, features and packaging (Kotler, Armstrong, Harris and Piercy) â all
characteristics that make MK unique. Michael Kors has a large range of products - they have smart
clothing, resortwear, footwear, accessories and their large collection of handbags and wallets. MK are
mainly famous for their handbags, but they are well known for their clothing collections within celeb-
rity circles.
MKâs style derives from the idea of âjet-set juggernautâ couture. Their designs are supposed to be all-
American, fast fashion that is trendy and sophisticated. The key to their product lies within simplicity,
as it differentiates them from the frills and fuss of fashion. This includes the sleekness of their packag-
ing; their symbolic card bags as outer packaging for products is a clear representative of their brand,
and the method in which products are wrapped adds an extra touch of luxury to their services.
Michael Kors has diffusion extension lines within their brands â thereâs the Michael Kors Collection
which is their specialist line. All materials in this collection are of the highest quality or extremely
exotic, meaning prices are extremely high. The MICHAEL Michael Kors collection includes a lot
more accessories and has a larger range than the Michael Kors Collection. This range includes formal
wear but also has denim, loungewear, resortwear and options for plus sizes and petite sizes. MK also
has licensing agreements with Fossil for its watches and jewellery, Estee Lauder for its cosmetics and
Marchon for its eyewear; ensuring higher quality in its products as each of these brands is specialised
in the products they are licensing (Michael Kors Holdings Ltd., 2015)
Michael Kors have annual fashion shows that showcase their seasonal trends to the public. This gives
their consumers an idea on how to wear a particular design, while showcasing their products. Relat-
ing to this, the Michael Korsâ website offers a âTrendsâ page (Michael Kors Holdings Ltd., 2015), which
further develops relationships with customers and their products as they can see what is in style at the
moment and how they can wear it. MK also have a menâs range, however this is significantly smaller
than the womenâs range and not as successful.
Image: (Bagzaboo)
16. Marketing Mix
PROMOTION:
Promotion is what communicates the merits of products and persuades target markets to buy particular
products (Kotler, Armstrong Harris & Piercy). MKâs promotion is one of the strongest aspects of their
brand. According to Mintel (See Appendix 4), todayâs youth is more involved in social media than ever
before, making social media an important factor in any promotional aspect. Michael Korsâ social media
pages is one of its most successful forms of promotion - in 2013, they were named top fashion brand on
social media. With around 6.4 million followers on Instagram 3.1 followers on twitter, MK has a huge
social following. A great example of one of their campaigns was the â#WhatsInYourKorsâ on Instagram,
where millions of users banded together in order to show off their products or even talk about which
bag they wanted â this hashtag is still running two years later (Quin, 2015), showing how successful the
venture was. They started the #FallinInLove holiday hashtag about customerâs favourite products â this
hashtag came with giveaways to lucky winners during the holiday season which promoted their brand im-
age by depicting them as a generous brand who gives back to customers.
MK was the first fashion brand to adopt the âMarqueeâ method of advertisement on Instagram (Vizard,
2015), which uses 15 second videos to broadcast a product or detailing on a product or a short interview.
Their first Marquee advertisement used Lily Aldridge jet-setting around Paris. This method of celebrity
endorsement subtly promotes the idea of a âjet-set juggernautâ â customers are more likely to respond to
a advert if it grabs their attention quickly (Chartered Institute of Marketing, 2015). By using Lily Aldridge
they ensured that customers recognised a famous face, and grabbed attention.
MKâs use of famous icons furthers their use of celebrity endorsements - by having icons such as Michelle
Obama wear their designs they are ensuring that they are constantly in the spotlight and customers are
always aware of their work.
Their website displays all of their campaigns for customers to view whenever they want, and they have
numerous posters up in each of their stores as well as having short clips on YouTube to further advertise
themselves.
The designer Michael Kors himself has a large twitter following, and even though his tweets are business-
centric, his followers are offered glimpses into his personal life as well as a look at up and coming designs
he is creating; furthering the brands personal selling.
Image: (Michael Kors)
17. Marketing Mix
PLACE:
A place includes company activities that make the product available to its customers (Kotler, Arm-
strong, Harris & Piercy). As mentioned before, MK have numerous stores all over the world and
each store has a similar layout (See Appendix 3). Their stores are always located near or with other
luxury brands in department stores, high-streets, or in malls. They have most of their stores in the
U.S. and Europe, however they have recently started expanding in Asia, with India being one of its
newest targets (Tewari, 2013).
MK have recently started the more unique concept of social media shopping. In a movement called
#InstaKors they are aiming to bridge a gap between its followers and e-commerce channels. It al-
lows followers to get a direct link sent to them so they can purchase any MK products they have
âlikedâ online (Buro 24/7, 2014). Michael Kors also has numerous 3rd party retailers such as Vali-
mar group or the websites for Selfridges/House of Fraser and numerous other department stores so
there is a variety of ways for customers to constantly access their products.
18. Marketing Mix
PEOPLE According to CIM, a brandâs reputation rests in the
hands of their staff (Chartered Institute of Market-
ing, 2015). For this reason it is important that the
âPeopleâ part of the marketing mix is successful. As
Michael Kors is a large luxury brand, it is impor-
tant that their staff reflects on it. For this reason,
they have extremely friendly staff who are always
ready to help and communicate with the custom-
ers on a one-to-one bases. Michael Korsâ customer
service is efficient and they have a plethora of
ways in which they can be reached in order to
answer any queries or concerns. In fact, Michael
Kors himself still conducts one-on-one fittings
and occasionally goes into his own stores in order
to converse with customers and check that eve-
rything is running smoothly, strengthening their
brand image and showing how closely knit they
are (Business of Fashion, 2015).
PROCESS Process is the delivering of a product or service
and the behaviour of those who deliver it, factors
which are crucial to customer satisfaction (Char-
tered Institute of marketing, 2015). Michael Kors
has an online store which delivers worldwide,
and there are different delivery platforms for each
country. Michael Kors partners with multiple
delivery services in order to reach their customers.
They are informed from the beginning of when
their product is shipped out to when it is delivered
to them. This ensures that the customer is satisfied
constantly throughout the process without waiting
too long.
19. Marketing Mix
PHYSICAL AMBIENCE Their store design is sleek and simple; as their
main attraction are their bags and accessories,
those are always at the front of the store as that
makes it easier for the customer to find what they
are looking for. Their clothes are located towards
the back of each store, along with the footwear.
Each store has numerous mannequins styled in
a particular way to showcase different products
adding a sense of uniformity to their stores. Their
retail atmosphere is relaxed and friendly, custom-
ers are offered beverages in the larger stores as well
as testers for their new fragrances.
PRICE Price is the amount of money customers must pay
to obtain a certain product (Kotler, Armstrong,
Harris & Piercy). MKâs pricing is perceived to be
within the mid-level luxury band. It offers high
quality products but at a slightly lower price than
luxury couture houses such as Gucci or Chanel.
Pricing includes discounts and sales which MK
frequently has, both in-store and online. While
their pricing may be lower than other luxury
brands, it is still higher than normal high street
stores, adding a sense of exclusivity to it. In terms
of differentiation, Michael Kors embodies the
idea of âaffordable and accessible luxuryâ â some-
thing that luxury brands were not perceived to be
to general masses. It was only after their rise to
popularity that mid-level luxury products became
mainstream.
20. Conclusions/Recommendations
In retrospect, Michael Kors have a successful marketing mix, with their strength lying in their product
and promotion. Their promotion is particularly strong due to their unique relationship with various plat-
forms of social media, that their competition is yet to possess. With the concept of their âjet-setâ fashion,
they have been able to create a distinguishable brand, giving them a strong USP. Overall, their marketing
strategy comes across as efficacious, as it manages to attract a wider audience and communicates with
their consumers constantly, giving the brand a more personalised feel. At this point in time, Michael
Kors is experiencing positive sales due to the popularity of their products, however they could face a
reduction in sales due to increased competition from other brands and the end of their popularity. Their
weaknesses lie within quality consistency and the loss of exclusivity their brand has experienced in the
recent years â especially with their products being favoured by younger generations. This takes away from
the sophistication of the brand as older consumers may think the brand is too âyouthfulâ for them now.
To rectify this, Michael Kors can consider creating new diffusion-extension lines, other than the two
they already have. These new lines would have to be marketed differently as currently their products are
marketed through social media and smaller scale campaigns. The products would have to marketed in
a manner that would cater to MKâs older consumers, in order to depict their products as something that
can be accessed by all ages. There is also scope for them to expand their menâs range as it is currently sig-
nificantly smaller than the womenâs range; an expansion of menâs ranges would increase sales, especially
as metrosexuality increases in men today. Overall, Michael Kors has a successful brand strategy and with
a few slight changes, it will continue its reign at the top.
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23. Appendix 1
Interview @ Westfield (manager)
Q: What age group comes into your store the most?
A: 21-30 years old.
Q: Do you get more male or female customers?
A: Mostly female.
Q: What product of yours sells the most?
A: Definitely our accessories, the classis tote or our chunky watches.
Interview @ Bond Street (assistant manager)
Q: What age group comes into your store the most?
A: It varies, I would say 17-40. 17-19 year olds usually come with their parents and they buy things
for them, otherwise people buy things themselves.
Q: Do you get more male or female customers?
A: Definitely female.
Q: What product of yours sells the most?
A: Our tote bag and wallets
Appendices
24. Appendix 2
Interview @ Westfield (customer)
Q: Do you have a lot of Michael Kors products?
A: I have two bags and a wallet as well as a shift dress.
Q: How would you describe your style?
A: Classic, sophisticated, not fussy
Q: Are you a loyal MK customer?
A: I wouldnât say that this is my only place to shop, I like to browse different places and choose what I like.
Interview @ Bond Street (customer)
Q: Do you have a lot of Michael Kors products?
A: Yes, a lot actually.
Q: How would you describe your style?
A: Elegant, smart casual mostly, very British I would say!
Q: Are you a loyal MK customer?
A: Yes, but my other favourite is Kate Spade.
Appendices