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lv bags |
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lv bags |
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| Coach markets itself as selling "accessible luxury" and its pricing strategy for a handbag ranges from $298 $1000 which means that its product reaches a larger consumer demographic than other highpriced competitors such as Louis Vuitton, Prada which focus on the very wealthy. The strategy of targeting the higher and upper middle income shoppers differentiates Coach from its competitors and also helps to establish it as the poster child of tapping into this global trend of consumers wanting to trade up in the quality and style of what they buy.As Warren Buffett says "In business, I am looking for economic castle protected by moats", Coach has a narrow moat and competitive advantage. It has a strong brand presence in the luxury market and this is not easily eroded by other competitors. New competitors into the luxury brand industry will have to spend a large amount of money and resource to build up brand awareness and image. There is also consumer loyalty as Coach has been delivering high quality products that is simple, reliable and perceived value for the money. | | from : 192.151.157.243 | | | |  
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