team 8 dooney & bourke. the big picture dooney & bourke outdated aging target market lost...

Team 8

Dooney & Bourke

The Big Picture• Dooney & Bourke• Outdated• Aging target market• Lost originality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

Competitors• Coach• Michael Kors• Kate Spade• Juicy Couture

• Estimated $9 Billion in handbag sales in the US by 2015

PromotionsTo increase sales from what is now $5-10 million to $7-14 million • Print ads• Celebrity Endorsements• Visual Merchandising• Packaging• Direct Mail• Kentucky Derby

Positioning Map Before

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

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.

Fresh Celebrity Endorsed Print Advertisements

Derby Targeted Advertisements

Banner Outside Churchill Downs

Banner On Race Track

Store Visuals/Sign

age

Direct Mail Pieces

Clientele Invitations

Care for your product

New Packaging

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

Join the Winner’s

Circle