Team 8 Dooney & Bourke. The Big Picture Dooney & Bourke Outdated Aging target market Lost originality Reposition Fill in target market gaps New celebrity.
Post on 02-Jan-2016
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Team 8
Dooney & Bourke
The Big Picture• Dooney & Bourke• Outdated• Aging target market• Lost originality
Reposition• Fill in target market gaps• New celebrity endorsers• Kentucky Derby• Signage/in-store visuals• Sell luxury
Current Market Plan
• Product: quality leather goods• Promotion: celebrity endorsers with poor images• Place: department stores, boutiques, online• Price: $88-$550
Target Market Analysis
• Baby Boomers: 1946-1964• around for the beginning of the D&B brand• quickly aging out of interest
• Gen Z: 1995-present• non-loyal, unpredictable consumers• around for the “It Bag” collection
SWOT Analysis
Strengths Weaknesses
• Online Growth• Affordable Pricing• Product Availability
• Poor Brand Image• Product Quality• Poor Brand Representatives
Opportunities Threats
• Innovativeness• Product and Service Expansion
• Market Demand• Higher Priced Desired Competitors
Market Dynamics• Promotional strategies are based off of research of
current fashions trends:• Classics• Exotics• Excess
• Dooney & Bourke’s promotions will be based off of Classic styles. Special collections will follow the Exotic and Excess trends.
Consumer Behavior• Baby Boomers/Gen X Cohort ages (24-55)• Middle class, higher education, working, family and
rely on technology• Value quality products, impeccable customer
service and are willing to pay for it• Does not like promotions that are offensive, refer to
age, or misleading
Competitors• Coach• Michael Kors• Kate Spade• Juicy Couture
• Estimated $9 Billion in handbag sales in the US by 2015
PromotionsTo increase sales from what is now $5-10 million to $7-14 million • Print ads• Celebrity Endorsements• Visual Merchandising• Packaging• Direct Mail• Kentucky Derby
Positioning Map Before
Positioning Map After
New Target Market• Middle to Upper Middle Class who desires a life of
luxury• 24-55 years of age• $60-250,000 • Trendy• Owns a home, with one to two kids
Brand Communication
• Recognizable name to consumers• Dooney & Bourke= (Affordable) Luxury• Quality Items• You get what you pay for at an affordable price
Luxury can be affordable.
Fresh Celebrity Endorsed Print Advertisements
Derby Targeted Advertisements
Banner Outside Churchill Downs
Banner On Race Track
Store Visuals/Sign
age
Direct Mail Pieces
Clientele Invitations
Care for your product
New Packaging
Prelaunch Methods• Utilizing a wide
variety of print ads and vintage photographs
• 3 month galleries at events and near Dooney & Bourke retail locations
• Analyze sales
Post Launch Methods
• Main performance measure, sales.• Survey on D&B website• Direct mail invitation• New collection event
Join the Winner’s
Circle
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