Dooney & Bourke Team 8
The Big Picture Dooney & Bourke Reposition Fill in target market gaps Outdated Aging target market Lost originality Reposition Fill in target market gaps New celebrity endorsers Kentucky Derby Signage/in-store visuals Sell luxury
Current Market Plan Product: quality leather goods Promotion: celebrity endorsers with poor images Place: department stores, boutiques, online Price: $88-$550
Target Market Analysis Baby Boomers: 1946-1964 around for the beginning of the D&B brand quickly aging out of interest Gen Z: 1995-present non-loyal, unpredictable consumers around for the “It Bag” collection
SWOT Analysis Strengths Weaknesses Online Growth Affordable Pricing Product Availability Poor Brand Image Product Quality Poor Brand Representatives Opportunities Threats Innovativeness Product and Service Expansion Market Demand Higher Priced Desired Competitors
Market Dynamics Promotional strategies are based off of research of current fashions trends: Classics Exotics Excess Dooney & Bourke’s promotions will be based off of Classic styles. Special collections will follow the Exotic and Excess trends.
Consumer Behavior Baby Boomers/Gen X Cohort ages (24-55) Middle class, higher education, working, family and rely on technology Value quality products, impeccable customer service and are willing to pay for it Does not like promotions that are offensive, refer to age, or misleading Are the ages correct? I feel like jayla mentioned an older market range too…
Competitors Coach Michael Kors Kate Spade Juicy Couture Estimated $9 Billion in handbag sales in the US by 2015 Just added the random fact at the end. I don’t know if you want the revenue of each competitor or not.
To increase sales from what is now $5-10 million to $7-14 million Promotions To increase sales from what is now $5-10 million to $7-14 million Print ads Celebrity Endorsements Visual Merchandising Packaging Direct Mail Kentucky Derby We will elaborate more on this when we discuss promo mixes.
Positioning Map Before Need before and after positioning map!!
Positioning Map After
New Target Market Middle to Upper Middle Class who desires a life of luxury 24-55 years of age $60-250,000 Trendy Owns a home, with one to two kids D&B is opening up a NEW target market on top of their existing one They refer to people of influence for trends but once they are in bad media, they rethink their loyalty Such a broad range since at 55, you are more apt to have more disposable income.
Brand Communication Recognizable name to consumers Dooney & Bourke= (Affordable) Luxury Quality Items You get what you pay for at an affordable price Luxury can be affordable. A household name The Dooney & Bourke Guarantee give the perception of quality in the consumers mind, and it is! “unconditional guarantee against defects in craftsmanship for a full year of normal use”
Fresh Celebrity Endorsed Print Advertisements
Derby Targeted Advertisements
Banner Outside Churchill Downs
Banner On Race Track
Store Visuals/Signage
Direct Mail Pieces
Clientele Invitations
New Packaging Care for your product
Prelaunch Methods Utilizing a wide variety of print ads and vintage photographs 3 month galleries at events and near Dooney & Bourke retail locations Analyze sales
Post Launch Methods Main performance measure, sales. Survey on D&B website Direct mail invitation New collection event
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