brand must has its core competitiveness and recognition. For example, if a brand’s staple aims at consumers with high net worth, then it is not wise for it to develop new clients in middle class. The reason is that sometimes the most valuable of a brand is not its new meaning or high quality but the status it represents like the development of Parker pen. (Schau et al. 2009)
From the perspective of economics, the production is a constraint especially in the area of fashion. Not only the trend varies a lot but also the balance between supply and demand is hard to reach. In addition, there is no possibility of the equilibrium price for it is not a certain type of goods. (Mankiw, 2009)
A wrong transformation of Coca Cola可口可乐的一个错误的改造
There is a failure case of Coca Cola which can be applied to the guidance for the area of fashion. Owing to the grow up of PepsiCo claiming new alternatives of a new generation, Coca Cola carried out a large-scale
Marketing action with completely substitution of the traditional taste. Although this transformation had done market research before extension and gain good response, the post-effect is far from satisfaction. From the press conference, the protest calls are not discontinuous. End with the angry feelings among customers and falling sales, this three-year costly events failed.
The failure of Coca Cola attributes to the neglect of the regular customers but blindly appealing to new customers. Coca Cola does not realize that a successful marketplace cannot be inclusive to all consumers. Fortunately, Coca Cola changed back to the traditional taste in the end which guarantee the competitiveness with PepsiCo.
Advices of the choice to market focus择的建议,以市场焦点
From the failure case of Coca Cola, we can see the importance of targeted market. Certainly more inclusive marketplace is helpful for the long-term development of the company. However, this is based on the well hold of the loyal customers. In other words, exploring new consumers on the basis of existing customers. Using the example of Coca Cola, it uses different packages to attract consumers with different preferences while reserves the traditional taste. This measure is successful that it maintains its core value.
As for we listed in the literature review, there are still market areas need further development, like the low-income people, mature women, plus-sized people or even consumers with dissimilar preferences. These offer opportunities for emerging market or existing enterprises with enough strength. Market cannot be perfect completely, it needs continuous improvement with the development of fashion. (Mankiw, 2009)
Considering the consumption structure, fashion would still be the highlight. One developing direction for the existing fashion brands is the emphasis on working women especially mature women over 45 years. They have enough willingness to pay and have their preferences which cannot be influenced easily.(Note 2003) A misunderstanding of most manufacturers nowadays is that the demand follows supply. Based on this, the supply is increasing while its quality is backward. The inclusivity of marketplace reflects the satisfaction of demands of all consumers. Certainly sometimes consumers’ demands c
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