Chanel Handbags, Target, and Salvation Army Swot Analysis
13115 Words53 Pages
1. Most women want to express their individuality by the clothes and accessories they flaunt around. Some women seek brand names while others conform to necessities. Nonetheless, the majority of women find it helpful to carry a handbag; whether it is for storing car keys and a wallet or to match an outfit. Every year, handbags are becoming more of a status symbol then a basic essential. This paper will investigate the marketing trends of three different quality grade handbags, which are marketed to three distinct target markets. The first handbags discussed will be high quality handbag, Coco Chanel brand, second is Target brand, Massimo, handbag, and lastly are handbags found at the local Salvation Army. The Salvation Army handbags can…show more content… Chanel is geographically placed in these locations because of the foot traffic, expensive real estate, and purchasing power surrounding these cities. Currently, Chanel is estimated to be worth $1.8 billion and has a market share of .8%. Chanel handbags are targeted to women who range from 30- 55 years old. These ages include Generation X, and baby boomer. They also include middle aged, married or divorced woman without dependent children who own a home, and are most satisfied with their jobs. At this age woman have careers, are married or divorced, and start ageing in which they put more effort in looking youthful. Chanel’s focus is on wealthier sophisticated customers who are working professionals and high-income earners. Consumers that purchase Chanel handbags are people who have set high standards for themselves and are considered high achievers. They are in a life cycle stage where they are successful in their careers; demonstrate high performance, which allows them to reward themselves with high valued products. These consumers are image conscious and therefore buy name brands that increase their prestige. The most recognized personality traits that Chanel markets to are sophisticated, classy fashionistas. For many women, these traits represent high status and charm. Woman usually wants to carry a bag that represents their personality, so woman who are seeking to look sophisticated and classy buy Chanel handbags.