Favorite Brand Paper
MKT 421
December 10, 2014
Favorite Brand Paper
In this essay I will identify a brand in which I am passionate. Will explain three reasons why I am passionate about this brand and if the company is building loyal customer relationships across different groups. I will also include two other competitors in the same industry and explain why I chose my brand over the competitors. The hard part of this is deciding which brand that I find passion in.
I am not one to pick one brand for particular reasons. I choose brands based off of price and fashion. Where I see brands the most would be in my purses. I like Michael Kors, Coach and Guess purses, which they are all competition of each other. I like Guess because they offer different colors and styles at a very reasonable price. I like Coach because their bags are sophisticated looking, making me have the more professional feeling but yet depending on style could be very high in prices. In making a choice of my favorite, I would go with Michael Kors, they have sophisticated yet also stylish for on the go party styles that I find for appealing. There prices are not very high, but still in the affordable range.
The question asked is the company successful in building loyal customer relationships across different groups? I think yes, they offer a variety of different items to men and woman of all ages. According to "Bidness Etc Investigates How The Michael Kors Brand Amassed Such A Large Fan Following Within A Short Span Time" (2014), “Kors has started to gain recognition as a global lifestyle brand that promises distinct designs backed by high standards of quality”. The brand has a strong relationship with Macy’s, Nordstrom, and Harrods to ensure that customers have access to their favorite Kors products. Kors also strike a right balance between brick and mortar stores, where the consumer can interact with products and the purchases available online. Kors has licensed up with Estee Lauder and Fossil Group Inc., so that they can help maintain premium quality. Kors prides itself with using exotic leather to make products, assuring consumers there is no deviation from downscaling strategy. As a consumer one of the things I find most interesting is that Michael Kors himself leads the design team of his brand assures the authenticity of craftsmanship to loyal customers. Michael Kors brand adapts to the needs of the modern consumer by having iPhone clutches, wristlets and a wide range of contemporary products. Kors is actively involved in various charitable endeavors, with #watchHungerStop is a big one with the merge of fashion with food. For every Michael Kors watch sold, the campaign contributes $25 to the World Food Program, which can purchase 100 meals for children. Michael Kors are all about their fan growth. Buquid (2014), “Most brands offer their fans an exclusive coupon here and there, but Michael Kors downright spoils their fans with some of the most highly articulated exclusives around”. Building an exclusive product line devoted to a single social channel, is one of the many things that sets this company apart. Coach and Guess are both very nice and I will probably buy them again if their purses were to strike interest in style of my liking. Coach