Traditionally, women have done a number of their handbag purchases at department stores and boutique stores. Customers in the handbag industry most frequently made purchases based on fashion and designer recognition. In 1980s, customers took great concentration in their outlook and became a little extravagant. Sales of mid-range and high-priced brands, such as Dooney & Bourke and Coach, propagated. Purchases of women handbags and other clothing accessories almost doubled in the 1980s, with atypical annual growth rate of 7.3 percent. Then the depression caused weak increase in disposable earnings, along with high rate of unemployment, and customers became more cautious.
Buy Dazzling Diva essay paper online
The production of women handbags is more labor demanding than numerous other industries. Like many companies, big manufacturers of women's handbags are under intense pressure to minimize their number of workers by boosting efficiency and productivity. The industry regards the latest technology to be the key to rising profitability and growth and keeping more manufacturing work in the United States. The augmented use of computers in the late 20th century integrated manufacturing, design, marketing, and management functions.
The major challenge in the mid-2000s remained to be the amplified competition from abroad markets. In spite of the drop in production of women’s handbags, outlet stores remained to be a significant path for selling domestic-made women handbags. Many handbag brand-name producers sold their products only to department amasses, but they quickly began selling nearly alike products to catalogues and mass merchandisers in order to contribute in the phenomenal escalation encountered by those sales conduits. Shockingly, this affected the relationships between the manufacturers and the department stores. To fix the situation, several women’s handbag manufacturers have begun to produce a number of different categories of trademarks, each of which has been distributed through a diverse type of vendors. Each vendor has brand individuality within its own type.
There are a number of marketing strategies employed by women’s handbag manufacturer for marketing and distributing their products.A time-honored tradition used by the handbag industry to market their designs and set trends has been to work hand-in-hand with eminent people to model their handbags. The ultimate point from the women’s handbag industry is that, if an eminent person wears a handbag, then it must be fashionable and therefore people will admire it.This marketing strategy shows to be an actable situation for the handbag industry as well as the celebrities since they cash in on the free products that a range of designers tosses their way.
Another precise strategy employed by the women’s handbag industry is online marketing. The use of the online involves a number of strategies, which comprise building an internet edition of a print magazine, ads placed on precise sites for bigger exposure, and well-placed articles and photographs concerning the women’s handbag and accessories shops. Online has turned into a billion-dollar business. By targeting the huge numbers of women who frequently take part in internet activities, fashion magazines that uphold an Internet existence provide themselves with free, continuous advertising (Filthylucre, 2009).
Another thriving marketing strategy, which is used by women's handbag and accessory shop, is price determination strategy. These shops have adjusted the prices of their products to suit the needs of their customers.
Because of the fear that demand would reduce, marketing and sales strategies for women’s handbags were re-appraised in the early 1990s. Besides improving products presentation, a number of retailers put into practice trend shop concepts, in which handbags were categorized into a lone fashion trend and sold in a single shop. At bigger accessory and women’s handbag stores, management uses devoted sales staffs to endorse particular merchandise lines. These retailer-related marketing strategies augmented because of the increased promotion efforts by the manufacturers. Marketing resources, such as videos explaining diverse ways to wear handbags and other accessories, also supported salespersons’ efforts (Highbeam Business, 2010).