Ch 12 Services and Nonprofit Organization Marketing

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Chap.11 Developing And Managing Products

      Tory Burch first product was the Reva ballerina flats .After a huge success with the flats and gaining recognition to the world of fashion the company has introduced new product lines such as Handbags ,home goods,perfumes and jewelries .The company changes its stlye every season based on what's trending on the market of fashion.

       The companies product life cycle is usually at maturity stage before they introduce new product line hence not giving the previous product a chance to decline .



 

Ch.8 Segmenting and Targeting Markets

        My company uses demographic segmentation to meet the needs of the specific consumers.

The marketers use age segmentation and gender segmentation to understand the product it want to sell or introduce.Tory Burch segment market baby boomes (women only )at the moment offering affordable luxury products .

       by breaking the cunsumers in segment this enabled the company to know consumers it wanted to target and identify the need of affordable luxury brand for women that lacked in the overall market .Tory Burch was able to meet the needs and fill in the gap for the working women .

Different age group wearing Tory Burch from age of 18 -80 

Ch.15 Marketing Communications

           Tory Burch promotinal strategy has played a major role in the companies regognition in the marketplace .with its concept of being affordable luxury brand offering high quality products and exellent service the company has gained competitive advantage .Tory Burch uses various ways of communication to its  potential  and existing consumers to increase sales .

            Interpersonal communication and mass communication are part of the company's effort for targeted audiance .Tory burch trained salesperson are important in the introduction stage of their product life cycle .They interract with customers and inform them about the product and offer trial.Even with the saleperson  being sucessful  the company uses mass comunication to reach a large amount of targeted consumers .  

           Mass medium such as television where Tory Burch advertising are featured gives the consumer the preview of the product and introduction .

       Tory burch Salesperson .                                                      

            

Ch.10 Product Concepts

       Tory Burch is a consumer products that offers a product mix for its cunsumers .The company carries varieties  of products including clothing,accesories ,beauty and home goods.With the good reputation over the years the company was able to establish equivalent quality for its product lines.
 Its consumers believe in the quality the product hence giving Tory Burch items as a specialty products .
        moreover the company goes through stlye modification each season offering different styles and colours for its consumers and keeping them up to date for the trending styles and colours of the years in the world of fashion.The marketing strategies for their products usually states ,"The must haves "or picture -perfectl stlye for the holidays ".With this its consumers always want to be up to date.

                Product line for Tory Burch .

           

Ch.17 Personal Selling and Sales Management.

        My company uses consumer -focused salespeople in their retail stores .The stores usually have 4-5 salespeople on the floor with a manager who walks around making sure he/she is available to answer any questions from the customers.With a high level of customer service and interaction between the sales' person and the customer,Tory Burch's salespeople have established a relationship selling with the consumers.
         I visited one of the retail stores in Manhattan and from the moment I entered the store, the hospitality I got was different from any other stores.The salespeople were so engaged and concerned about my needs.Even as the company invests in the new technology such as the Tory Burch app which has fashion content ,exclusive sales ,and the new items on the company the role of the salesperson is so important .I couldn't have imagined if I had only looked up items on the app and just went ahead and purchased it in the retail store.
         The sales person helped me pick the right size and also recommended something else that matched my outfit.My company has trained their salesperson making their customers feel special.  

                   Tory Burch in training session with salespeople.

             

Ch.16 Advertising ,public Relations.

         Tory Burch company was started in 2004 with only one store ,with its concept as affordable luxury brand with a sense of social responsibility the company gained regognition in the market share.
The company uses aggrassive digital advitising strategies .Being the new company in the world of fashion its market share was very low compared to its competitors .
           By using the Pioneering advertising in the digital marketing Tory Burch was able to introduce its new products and connect with its consumers .Also the company  hired the former Instlye magazine brand developer content Miki Brodie to help contrubute experiance and knowlege on advertising .Working with Brodie the company was able to launch online Tory Burch blog where the advertising team is able to collect analytic of consumers who explore content and study it more careful and determine how many consumers have enganged, how much time they spend on the website and what they purchase.
          The advertising of the products on the Tory Burch blog have a huge effect on its consumers .with statements and previews on whats new on the season the company have captured the altitude of its consumers.The company is known for its bold colors that captures the attention of its consumers .
As Burch describes "I see the world in colors,I am drawn to the way colors interact with and complement one another"......living in color is her guiding principle,from the way she raise her children to the way she approach work.Alot of consumer's prospective on the brand are connected emotinal.