that go hand in hand with appealing to this target market‚ all of which consist of demographics‚ geo-demographics‚ and psychographics. Utilizing the factors listed above will allow a company to strategize their marketing plan effectively‚ “promote a very narrow‚ specific niche market‚ and reach your ideal clients with a strong‚ specific message” (Dore‚ 2012). Our target market in this case‚ shares similar demographic and psychographic characteristics—young adult males in their early 20’s to mid 30’s
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In traditional societies‚ peoples identity was rooted in a set of social roles and values‚ which provided orientation and religious sanctions to define ones place in the world. In modernity‚ identity is often characterised in terms of mutual recognition‚ as if ones identity depended on recognition from others combined with self- validation of this recognition. Identity still comes from a pre set of roles and norms. For example‚ a mother
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Consumer Behaviour is the study of the processes involved when individuals or groups select‚ purchase‚ use or dispose of products‚ services‚ ideas or experiences’ Solomon‚ M.R (2002)p5 2.0 The Consumer 2.1 Demographic Characteristics Characteristics of consumer markets based on demographics include differences in factors such as gender‚ age range‚ marital status‚ education‚ occupation and income level. We look at these characteristics as they are the elements of a potential customer’s life that
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they want to show off their wealth and personal status. Main Forces The Macroenvironment Facing The Luxury Brand Industry Analysing the macroenvironment facing the luxury brand industry‚ there are demographic forces‚ economic forces‚ cultural forces and technological forces. 1) Demographic Forces Demography is the study of human populations in terms of size‚ density‚ location‚ age‚ sex‚ race‚ occupation and other statistics “Principles of marketing” (Kotler‚ Adam‚ Denize and Armstrong
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For this essay‚ I have chosen the fast food industry as the industry I will look at and Indonesia as the country. Indonesia has a population of 232 million people‚ with the capital city Jakarta alone has 10 million people‚ more than twice the population of the whole of New Zealand. So Indonesia represents a huge market for industries to delve into‚ in 2011 Indonesia recorded US $18 billion in Foreign Domestic Investments and ranked 18th for biggest FDI inflow. (data.worldbank.org‚ 2013) And on a
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News Release: Luxury Retail Market Overview - Middle East Chalhoub Group in partnership with Fondazione Altagamma Milan‚ 16th May 2011 Overview The Gulf Area was the discussion topic in the conference organized in May 2011 by Fondazione Altagamma and Chalhoub Group. C-level management from various organizations debated the nature and stage of luxury retail in the Middle East region. Key speakers and panelists included: • Gabriella Scarpa - Chairman‚ Acqua di Parma • Patrick Chalhoub - CO-CEO
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customers. The menswear for instance may appeal to a hip 25-year-old man‚ a conservative 65-year-old man or to someone in between. The noteworthy competitors of Burberry are labels such as Polo Ralph Lauren and Armani in apparel‚ and Coach and Gucci in accessories. Coach’s primary products are handbag accessories. Coach has positioned itself as being more affordable and more accessible to the general population. Polo’s marketing positioning is centered more towards lifestyle and clothing. Polo
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and actual advertisements to draw you in as a reader and get you thinking about the depictions of male physique in your own way. The author uses many major clothing companies as examples for her depictions like Calvin Klein‚ Haggar‚ Dockers‚ and Gucci. She expresses that these companies and more have paved the way for the use of male bodies as “sexual objects” on purpose. Her idea relies on the entire belief that sex sales‚ which it does. Her thoughts go in depth on this subject‚ as far as to
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GRADUATE SCHOOL MASTER IN BUSINESS ADMINISTRATION DECISION MAKING & BUSINESS POLICY FORMULATION A Case Study: Salvatore Ferragamo‚ SpA I. BACKGROUND OF THE STUDY This case describes the history and present dilemma facing Wanda Ferragamo and her six children‚ all of whom are involved in the family business. The House of Ferragamo‚ a Florence-based maker of high quality Italian clothing and leather good‚ was founded by Salvatore Ferragamo. Throughout his 57-year career‚ he achieved
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1. Many luxury good firms such as Faber Castell (writing instruments‚ art material)‚ Rolex (watches)‚ Gucci (bags‚ fashion)‚ Versace (cloth‚ fashion)‚ Hermès (bags‚ fashion) were family business for several generations. Why was family ownership historically dominating in the luxury industry? Family ownership has historically dominated the luxury industry for want of maintaining the organizational culture—its adherence to certain values that are deemed too important to dilute with the introduction
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