taylor oswald

COACH

The next 50 years

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One of the biggest things Coach will have to do to survive the next 50 years in retail is to maintain the constant change in the fashion industry. Fashion is something that always has a trending market. With that said, Coach must stay on top and know what the fashion statements are and also meet the wants and needs of their customers to keep them happy. The economy is also something every company has to worry about and adapt to know matter what the circumstances are. If the economy crashes, products such as leather may not be available. Coach uses leather to design purses, shoes and clothing, so this will potentially hurt the industry. As of right now Coach uses a variety of techniques to advertise their products, but within the next 50 years things are going to change. This means the brand will have to come up with an ongoing strategy that will help them stay with all the changes.

Personally, I think it would be beneficial for Coach to expand their brand and design a more appealing line of merchandise to the younger generation at a good price. With the younger generation being more tech savvy and extra fashionable this could value and boost the brands profit. Also, I think it is important for the brand to manage their online appearance very heavily. There are numerous stores nationwide selling Coach merchandise, so it is important that the original company has full control over the brand, and how they market themselves throughout the years.

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Everyone needs a little something luxurious and affordable!

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In 2007, the U.S. suffered a huge recession. Many business, organization and families suffered during this time, with Coach being one of them. This crisis caused record-breaking declines in sales, inventory, and stock prices. The brand was tired of seeing such low number, so in 2009, Coach CEO, Lew Frankfort came up with a plan to adjust to what was happening to their industry. They altered their pricing and product strategies so their products were more affordable for their customers. They called this strategy the “new normal.”

Because consumers were stingy with their money, Coach retailers had to be more innovative, creative and value the company favorably. July of 2009, Coach announced their new line, Poppy. The Poppy collection consists of handbags, shoes and accessories at a lower-price. The collecting prices ranged from $38-$600. With the effects of the recession, Coach benefited from a 15% drop in the price of leather, which made it possible to dig themselves out of their hole. They launched a “Are You a Poppy Girl” campaign that helped them market their new products. This campaign enhanced the brands social media sites and created more awareness of the luxury brand.

Without Coach’s Poppy collection, the brand would have suffered a much bigger loss in sales they would have had to close some stores down. After the release, Coach stocks were one of the most talked about stocks at that time. The CEO’s plan of great advertising and marketing campaigns lined up to help them get through that dark period.

Resources:

Company Profile. (2014) Retrieved November 21, 2014, from

http://www.coach.com/online/handbags/genWCM-10551-10051-en-/Coach_US/CompanyInformation/InvestorRelations/CompanyProfile

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The Next Best Thing: Social Media

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Coach uses Facebook, Twitter, Instagram, Pinterst, YouTube and LinkedIn as their main social media sites. The brand uses these social medias to market their products and announce deals and promotions going on. They utilize these sites by posting pictures and videos of a product with a little description, and a link to where they can go to get more information. With Coach being such a popular luxurious brand the company gains followers and subscribers on a day-to-day basis.

Facebook is one of Coach’s most effective social media strategies. Here, they have 5,727,777 likes where their Twitter has 569,000 followers; Instagram has 497,214 followers, LinkedIn has 81,711 followers and YouTube with 49,993 subscribers. All of these sites have the exact same information along with the same picture or video. What Facebook allows the brand to do more than other social media sites, is monitor and measure what viewers are saying about the product or brand, and what they are liking the most and their activity on the page. Instagram is becoming the next big thing for the younger generation. This to is a site where viewers can see the product and post their opinions below the item. Pinterest is different then any other social media site. Here, not only is Coach posting their product, but also other businesses and organizations that carry Coach brand are posting their Coach products they have in their stores, which allows the brand name Coach seen everywhere.

Social media is very important to Coach; it is one of their biggest marketing strategies that distribute creative ways in capturing an unforgettable experience from their customers. The strategy plays a huge role in how the brand introduces products to the viewers, as well as making personal connections with those who love the brand. Coach’s has an efficient way of getting their products out as soon as they can on all different types of social media sites.

Information:

Coach Twitter Account. (2014) Retrieved November 5, 2014, from

https://twitter.com/Coach

Coach Facebook Account. (2014) Retrieved November 5, 2014, from

https://www.facebook.com/coach

Coach Instagram Account. (2014) Retrieved November 5, 2014, from

http://instagram.com/coach

Coach Pinterest. (2014) Retrieved November 5, 2014, from

http://www.pinterest.com/search/pins/?q=coach&term_meta%5B%5D=coach%7Ctyped&remove_refine=inc%7Ctyped

Company Profile. (2014) Retrieved November 5, 2014, from

http://www.coach.com/online/handbags/genWCM-10551-10051-en-/Coach_US/CompanyInformation/InvestorRelations/CompanyProfile

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A new look, a new day

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Since 1941, the luxury brand, Coach, has changed their product lines extensively. Their first collection of product were leather handbags called casin-carr. Since then, they have introduced watches, additional signature collections, sunglasses, fragrances, and clothing. Recently, Coach opened their very first men’s store in New York and celebrated 70th anniversary. Every season, Coach continues to innovate by releasing new designs, styles and colors that reach the top sellers list. Another area that has changed overtime is the Coach website. The website was launched in 1999 where you could buy watches and limited handbags. Now, you will find all their products as well as other links such as, “Backstage Coach,” which is a station of musical artists that are inspired by the Sounds of New York.

Coach uses a wide variety of imagery that catches the public eye. As a follower on Instagram, I notice they use a lot of popular celebrities and models to show off a product they are trying to market. This works well for them because consumers recognize the individual displaying the product as well as the luxury brand. In addition to social media, Coach also markets their brand and products through catalogs, brochures, email’s, press releases and their website.

Each year, Coach donates a large amount of money to Adopt-A-Child, a charity that provides school supplies, learning material and tutoring options for less fortunate communities. Periodically, Coach, donates to each classroom that needs any type of supply. Teachers in the classroom also present a report for Coach that shows and tells what they have purchased for the kids and how it has impacted their learning. Coach’s employees have the opportunity to get involved in the Adopt-A-Classroom by volunteering one-on-one with the students. There are more than 500 Adopt-A-Classroom located throughout the United States, which allows the employees to be engaged with the program. Coach has donated over $275,000 this year that goes toward those specific teachers that are associated with Adopt-A-Classroom.

 

 

Information:

Company Profile. (2014) Retrieved October 8, 2014, from

http://www.coach.com/online/handbags/genWCM-10551-10051-en-/Coach_US/CompanyInformation/InvestorRelations/CompanyProfile

The Coach Foundation. (2014) Retrieved October 8, 2014, from

http://www.coach.com/online/handbags/genWCM-10551-10051-en-/Coach_US/CompanyInformation/CoachFoundation/?LOC=BN#featured-initiative

Coach Backstage. (2014) Retrieved October 8, 2014 from
http://backstage.coach.com

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The Coach Foundation. (2014) Retrieved October 8, 2014, from

http://www.coach.com/online/handbags/genWCM-10551-10051-en-/Coach_US/CompanyInformation/CoachFoundation/?LOC=BN#featured-initiative

Old fashion COACH sewing machine.

The pristine American brand, Coach, began as a small leather goods workshop in Manhattan, New York in 1941. A family-run workshop handcrafted a collection of goods with skills that were passed down from generation to generation. Coach is known worldwide for their durable handbags, clothing, footwear, and accessories for men, women, and children. Over the years, Coach has expanded their brand by introducing their product into over 920 stores throughout the United States, Canada, Japan and various other international locations. They also have been able to build a strong relationship with a variety of department stores that help promote and sell their merchandise.

Coach is a luxury brand worth studying because they are always looking into the future. Fashion rapidly changes and Coach is there every step of the way as a pioneer in keeping up with and surpassing the latest trends. Coach engages buyers by marketing their products in a variety of ways; for example social media, posters, billboards, magazines, and press releases. Coach’s recognizable reputation allows the brand to keep moving forward using higher end materials to produce quality products.

Coach states their values loud and clear. The brand sees possibility in the impossible; they nurture authenticity, integrate individually teamwork, and fuse creativity and logic. Their passion and beliefs are to be innovative, challenge the expectations, and to embrace their curiosity. The brand does what they say; they value the relationships they build with stores, partners and customers. They value every perspective in all their products. If you ever have a problem with any of their products they are very good at helping in any way they can. So, in other words, Coach customers always come first.

Information:

Company Profile. (2014) Retrieved September 11, 2014, from

http://www.coach.com/online/handbags/genWCM-10551-10051-en-/Coach_US/CompanyInformation/InvestorRelations/CompanyProfile

Coach Values. (2014). Retrieved September 11, 2014, from

http://www.coach.com/online/handbags/genWCM-10551-10051-en-/Coach_US/CompanyInformation/InvestorRelations/CoachValues

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Company Profile. (2014) Retrieved September 11, 2014, from

http://www.coach.com/online/handbags/genWCM-10551-10051-en-/Coach_US/CompanyInformation/InvestorRelations/CompanyProfile