Buyers Target For Herschel Backpacks And Bags

Through the product range offered and the middle-range price level, WHSmith targets a wide demographic in terms of age, income level and family life cycle. Geographically, the store location catchment is relatively wide due to their prominent locations. Demographically, family gate-keepers and browsing husbands are targeted as they buy children’s books. Women, especially of middle-age, hold the buyer power in the adult book category, as the majority are of income group A or B and they buy for themselves and for others. Women are also the group who buy the most stationery (including mothers purchasing school supplies for their children) as well as students and economic groups A and B. Again women form the customer base for gift wrap and cards, along with the time-poor employed. This analysis of WHSmith’s customer profile in these categories should allow the marketing team to tailor their strategies to

The potential consumer target markets fall into two categories; the segments will be referred to as “Suburban Select” and “Young & Active”.

In this assignment, pricing strategy for backpack will be discussed. After estimation of product’s cost, demand and mark up, we have to decide an appropriate pricing strategy for setting a base price for our backpack (Lamb etal. 2016). The alternative strategies for the backpack which would be discussed is price skimming and penetration strategy. Firms benefit from price skimming from high profit margin, perceived high quality and attract customers when price lowered, while it’s more applicable with inelastic demand, also attract competitors and having difficulty in adjusting appropriate time to lower the price. Penetration strategy brought positive effects such as low input cost, and it is suitable for elastic demand product. However, might result bankruptcy if company unable to survive in the beginning, it require long period for returns and low price might be tagged with low quality. The chosen strategy for backpack is price skimming which might results better effect on our targeted segment because outdoor enthusiasts aimed at high quality.

The issues affecting he baby boomer generation is the possibility of lack of funds for them takes care of themselves. The amount of baby boomers is also a concern, because there are so many people turning 65 at the same time that mean they will also be eligible for Medicare at the same time.

largest generation. Due to its large size, the Baby Boom generation has had a significant impact on society, business, and the economy. The impact of the generation has been felt in all areas of consumer spending, from increased sales of baby products when they were young; to rising demand for houses as they set up their own households; to growth in retirement savings vehicles as they prepare for

Another way the economy will suffer is through the increase need for health care and elder care. As the baby boomers get older, their need for these types of expenditures will increase as well. Consequently, this increases the national health care spending too. Another problem is that governmental entities will start to lose tax revenues that the baby boomers provided so considerably. There will also be an increase in the federal budget deficit. The government will be spending more while receiving less revenue from the baby boomers. Younger generations can expect tax increases to help cover Social Security and Medicare. Even after all of these problems, there is still the burden that the baby boomers are going to leave for the current generation and the ones to follow. This will then lead to lower average of living standards for the baby boomers, and the major assets of the baby boomers will begin to decrease in value since more people will be trying to sell their assets than people willing to buy them. Retailers will also be affected negatively by this movement. Retailers can expect to lose revenue since the baby boomers will probably not spend as much, and marketers will have a difficult time searching for more sources or creating new ideas to attract the younger generations. Although there have been efforts at correcting the problem with the graying of America, governmental reform is necessary to avoid the storm of

* Having to Market ourselves even more seeing as we would likely be more in a mining or automobile industry (mind you that could work in both ways) (7)

While some argue that Industrialization had primarily positive consequences for society because it made the economy flourish, it was actually a harmful outcome for the society. Industrialization’s negative effects include child labor, working conditions, and living conditions. Industrialization's negative impacts incorporate child labor, working conditions, and living conditions. During this time period, industry owners were

Now that we’ve looked at the spending issues, let’s see how the baby boomers have affected the workforce. When baby boomers began entering the workforce, they increased the size of the labor market. The job market has been greatly expanded with the coming of this generation, especially with the addition of women to the workforce. At times, the baby boomers faced relatively high levels of unemployment because they had to compete with one another for jobs. But eventually the jobs materialized. The average age of the workforce is steadily climbing. The first of the baby boomers will start to retire in large numbers after the year 2020.

industry has been facing challenges. The industry is in a decline. This is because people may be

Limiting the company’s collection of high quality hand bag, purses and accessories, and selecting the products with more popularity, will have a huge influence on their success. The past couple of years the major products from their accessories category were cosmetic cases, eye-glass cases, wristlets, wallets and gifts and paper; on the category of travel and leisure the most popular items were rolling luggage, garment bags, duffel bags, and travel cosmetic cases. Figure 4 shows a reflection of the revenue report on Vera Bradley’s most profitable products and its progress/deterioration of those items through the years.

Economic: The industry’s performance is highly tied in with the economy. A weak economy will mean weak sales.

A marketing strategy is important for any product, and a big part of that strategy is the distribution elements and channels (Distribution, 2009; Marketing, 2011; Timberlake, 2012). Coach is very selective about how they distribute their products. They have authorized stores and outlet stores, as well as catalogs and a company website (Coach, 2012). They also allow some department stores to carry their products, as well as catalogues and specialty stores (Coach, 2012). A few duty free locations also have Coach bags (Coach, 2012). This is clearly stated on their website in an effort to dissuade people from purchasing a Coach handbag in a way that is illegal. It can also help prevent people from purchasing something they think is a Coach handbag but finding out later it is a copy or a fake. The target market for Coach is generally upscale, so Coach does not want the less expensive chain retailers carrying its product. There should be some exclusively with the Coach brand, and that can only be created and maintained by controlling what stores and locations can carry the Coach brand. Doing this allows the company better marketability when targeting specific groups or areas of a target market, such as upscale consumers.

Competition: As time goes on firms drop out until no one is producing the product.

| This criterion is not fit for mass production. Nowadays labor intensive production is used for the elite market.