Ch 12 Services and Nonprofit Organization Marketing

There's nothing to post about my company.

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.
                         

               

     

Ch.14 Retailing.

           Tory Burch started its first retail store in 2004.With the huge success of the store, the company was able to expand its retail stores to more than 30 countries.The company's level of service has attracted a lot of customers globally.
         The retailer offers high-end goods and services at affordable prices in the retail stores that usually consist of a store manager and 3- 4 associates .having good customer service in an elegant feel store , Tory Burch has succeeded in the market attracting many women worldwide.The company has generated revenues of $1.1 billion in 2014 becoming one of the important retail stores in the U.S economy .
         The retailer has expanded over the years from its own retail stores to Department stores such as Bloomingdales and Marcy's due to high demand in the market and recognition in the market share from its competitors such as Micheal kors .In 2011 the retailer launched online retailing making it convenient for its busy customer who has no time to visit the store and also offer service to consumers globally through shipping of goods and services to the part of the world where the company does not exist yet.
           


                Tory Burch in Department stores Bloomingdales

Ch.6 Consumer Decision Making

                                                                     

                              Tory Burch company understood the market and the need of women while creating the  brand .with the knowledge and full understanding of its consumer behavior Burch has conquered                                   the heart of its consumers who are women from all ages .Many of the targeted market customers who are women mostly buy goods and service from the company because they relate to Burch lifestyle .

                              Burch who has incorporated her personal style into the brand she has definitely inspired women to purchase her products .Being a mother ,divorced and giving up her career to start the company ,many women relate to her on many levels...."I think women can relate to me on many levels ", Burch says ."One ,I am a mother .and many times I am asked how I feel about divorce".

              The company has been very smart about branding its products to women of all ages using the external stimuli as their  marketing source .With the launch of Tory Daily  app in 2009 , the  app has become the platform where working women who have no time to visit the stores can make easy navigation through the app that offers what's new on Tory Burch ,view the runway shows and exclusive offers . This new app has given a chance for her customers a quick -shop experience and its easy for the customer decision-making  for the app also offers the reviews from other customers .

                    Tory Burch Daily App.  

               

Ch. 5 Developing a Global Vision.

After a huge success in the domestic market in selling the Reva ballerina flats in 2006 and the remarkably bold -print pants which made $80,000 sales in a day and no more inventory,Tory Borch began to be recognized in the world of fashion.
             In 2004 the company launched the e-commerce site toryburch.com giving online

shopping experience for its  customers .By doing so the brand became well known in other parts of the world and with the high demand in the affordable luxury brand, Tory Burch was able to meet the needs of its costumers .After two years the company went global with more than 150 freestanding boutiques operating in more than 30 countries worldwide.
                                           

while the company was expanding globally its marketing targets were based on economic factors and culture in which they wanted to operate.The company expanded to countries with strong economic development such as China, Paris and Dubai.

                  

Ch.18

Ch.2 Strategic Planning

            Tory Burch strategic plan for its competitors was to aspire  customers to own luxury goods and products designed in an affordable collection which was sold in the boutique that feels like a living room.
             In a well-designed boutique with a touch of elegant and rich in colours and patterns, no competitor can beat the feel of Tory Burch boutiques .While shopping the staff are there to assist the customers with the offer of drinking water in an 8 oz bottle making a customer service first priority.
The logo is the most important part of her business ,with double T gold logo ,unique designed that stands out as the brand name is something a lot of people want to wear compared to her competitors such as Kate spade ,Micheal Kors, and Coach .

                                 S.W.O.T analysis for Tory Burch 

             Strengths- The brand is an affordable luxury brand .

              Weakness- The brand only makes products for women .And for customers overseas shipment is very expensive as the company uses DHL as means of shipping , which charges shipping costs by weight and size .

               Opportunities -The company has expanded to other parts of the world entering in a global market and with the launch of the first Tory Daily app inspiring blog content shopping exclusives and free shipping.

                Threats - with the change in technology and demands the company always in the threat of losing its market share to its competitors such as Michael Kors .

         

Ch.1 History and Mission Statement

Tory launched with a small boutique in Nolita in 2004 — after graduating with a degree in art history and working for designers Ralph Lauren, Vera Wang and Narciso Rodriguez at Loewe — her exacting eye for that era was set. And now it was coupled with the energy and spirit of New York to create a design vision that was uniquely hers, one that resonated worldwide from a hit ballet flat and tunics inspired by that
flea-market find to the stores themselves, with her vibrant interiors.

The story unfolds on the entrepreneurial front, too, with the 2009 launch of the
Tory Burch Foundation. Its aim has always been one central to Tory: after realizing

her dream of starting a company, she wanted to give back and support women.
        Burch is known for her colors and prints that she was inspired by her parents Buddy and Reva Robinson photos when traveling and entertaining in the 1960's and 1970's.

               
                Mission Statement

           Tory Burch is a luxury lifestyle brand  .Burch's mission was to design a well-priced collection that her friends and herself can afford and sell them in a store that feels like a living room.