Brand and Michael Kors Essay

Submitted By twade85
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B. Competition Who are our competitors? Name: Ralph Lauren
Product Features: With golden mallet brands such as Polo by Ralph Lauren, Chaps, RRL, Rugby, Club Monaco, and RLX Ralph Lauren, the company designs and markets apparel and accessories, home furnishings, and fragrances.

Strengths: -Ralph Lauren’s retail stores focus on showcasing the “World of Ralph Lauren” by offering a wide selection of luxury products to customers. -The largest part of its revenue comes from its wholesale division, which sells Ralph Lauren products to department stores. -Ralph Lauren has taken complete control of its own brand in Asia providing more control over the company. -The company has managed to beat analyst estimates in an especially poor season for consumer spending through controlling costs and increased sales in Europe.

Weaknesses: - Due to exchange rates, in fiscal 2008, those fluctuations led to a loss of $6.4 million.
-Though having stores throughout the world exposes the company to multiple different markets; it also exposes the company to the whims of changing exchanging rates.
-Although there is a diverse range of products within the Ralph Lauren brand, it is largely dependent on its Ralph Lauren polo tops and “Create Your Own” polo which enables you to choose the color of the polo and horse and the fit of the top that you would like.

Name: Donna Karan International Inc.
Product Features: The firm designs and sells men's and women's clothes, including suits, sportswear, accessories, and shoes, under the Donna Karan New York, DKNY, DKNY Jeans, and DKNY Active labels. Strengths: -Leading fashion designer in America and creator of Donna Karan New York and DKNY - Labeled as innovative and world-class fashion designer whose clothes worn by many famous personalities -DKNY known for its excellent branding and advertising - Global Presence including China, Canada, Dubai
Weaknesses: -Still trying to penetrate into the international market
-Controversy for using fur of animals for preparing fur coats
-Fake imitations affect brand and sales Name: Calvin Klein Inc. Product Features: From its men's briefs to its haute couture, Calvin Klein is known for clothing, as well as fragrances and accessories that are all about attitude.

Strengths: -Modern and minimalistic brand with excellent brand equity -Company has licenses for cosmetics, jeans, and menswear, sports, watches, jewelry etc. -Strong brand name and good marketing -Global distributed system is excellent and has a reach in over 21 countries.

Weaknesses: -Products are expensive and premium which means limited target audience, and brand switching
-Fake imitation and duplicate products are affecting sales

E. SWOT Analysis Strengths:
Hollywood film celebrities have worn Michael Kors on red carpet.
Michael Kors clothes and accessories were shown in the reality shows on TV
The company claims that the brand has a high recall
Kors is the youngest recipient ever of the Geoffrey Beene Lifetime Achievement Award and even bagged the Fragrance Foundation’s FiFi Award for Lifetime Achievement
Threats
- Other brands offer more styles and cuts - Similar products available in other brands thus switching cost is less

We will use the following promotional vehicles: Advertising Television: Commercials to provide consumers with a sense of fashion of how Kors clothing should be worn. Magazines: Photo shoots of the various products that Michael Kors offers to its consumers
Television and magazines are the 2 most effective ways of promoting our product. Through television commercials we can entice people to want to look like a Michael Kors owner. Magazines provide an image of class
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