Marketing Channel

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Subject: Target Market

Article Summary:

Coach is one of the world’s leading fashion accessory brands whose products are part of the luxury goods market, whereas luxury consumers tend to fall into certain categories, mostly defined according to affluence level as well as age. Products offered by Coach are quality, and are considered affordable luxuries. Coach’s pricing is seen to be considerably lower, generally ranging between 100 and 500 dollars for handbags while prices of major competitors such as Prada, Michael Kors and Burberry, among others, tend to retail items at prices of over 1,000 dollars. Similarly, prices for footwear at coach range between 50 and 300 dollars a pair as compared to over 500 dollars a pair pricing at say, Steve Madden and Manolo. This principle applies to other coach products such as watches, eye ware and clothing. Coach’s target market can also be seen in aspiring luxury customers or wannabe designers looking to step into the luxury market.

My opinion

Affordable clothing may not appeal to everyone but to those who have little cash to spare, it is such a fascinating idea having a brand which caters to needs such as luxury clothing. Coach has done well to offer quality and style at affordable prices, and a big target market ensures a constant flow of revenue over time, which is good for any business.

Source: https:// www.yahoo.com/amphtml/finance/news/coach-pricing-strategies-target-market-155102804.html