Essay on Swot
The world is aging as birth rates decrease and medical progress helps increase the average age a person reaches in its life. This means that the potential market for luxury goods is growing as well since the average customer for Coach's products a 35-45 year old, college educated, professional female. Also, there's a trend towards two income households and a change of buying habits of mid income consumers, who seem to be more interested in luxury goods through effective advertising. These facts present promising opportunities for Coach Inc. to grow.
Key Success Factors
Coach as a manufacturer include matching key rivals in quality and styling while beating them on price by 50 percent as well as and the ongoing …show more content…
Coach is, “America’s number one accessible luxury accessories brand, and the fastest growing imported handbag and accessory brand in Japan.” Without marketing and design it would not be possible for Coach to receive such distinguished titles. In 2004 marketing and design costs reached 63.5 million. As a result Coach was able to penetrate new markets such as Japan and strengthen their position in existing ones. Coach recently announced the next phase of its growth strategy Japan. It involves capitalization on the significant growth opportunity that exists with the domestic Japanese consumers. The company expects sales to more than double during the next four years to over 80 billion yen by 2009. Furthermore, Coach announced that it is strengthening its