Select an apparel brand of your choice with the approval of your instructor. The Professor has approved Chanel. Please do the paper on that compnay. Please include an abstract for the paper.
a. Company Information: Must include brief company background, identify business sector (channel of distribution); department store, specialty store, on-line etc., Discuss current factors affecting the selected business sector/marketplace. Identify the brand’s products and major competitors.
b. Analysis of target market: Identify and analyze demographic information /trends; age, gender, income, education, ethnicity, social class, geography, family size, occupation, spending patterns. Psychographic information/trends: values, attitudes, lifestyles (VALS Segments), interests, opinions, motivations. Emerging trends, social forces, peer pressure.
c. Forecast: Many brands/companies have lost sight of their target market and suffered loss of their dominant industry position (GAP Stores, Victoria’s Secret, J.Crew). It is easy for an apparel company with a solid market image to become complacent. Now that you have analyzed and examined your brand’s target market and emerging trends, what strategies should the brand/company be implementing to sustain their future business?
Requires at least 3 databases in addition to other sources
https://limcollege.libguides.com/acm
Suggested databases to use as sources:
}Hoovers
}Mergent
}Demographics Now
}PrivCo
}Mintel
}Statista
}Lexis Nexis
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