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Essay / Research Paper Abstract
This 21 page paper is an analysis of the target market and factors that will be useful in developing a new marketing plan. The first section assesses the market for the firms’ products with the use of value based market segmentation. The second section assesses the pricing structure and the way different market segments may have different prices. The last part of the paper looks at the importance of the product to the consumers the demand factors, including consideration of elasticity, assessment of the way that the firm coped with the 2008/9 recession and consideration of the potential of economic estimated valuation. The bibliography cites 10 sources.
Page Count:
21 pages (~225 words per page)
File: TS14_TEpradam.rtf
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Unformatted sample text from the term paper:
Section 1 1. Introduction Prada is a well-known luxury brand, founded by Mario Prada in 1913,
starting out with humble origins with only two boutiques in Milan selling a range of suitcases, shoes and handbags, with Mario shifting his focus to the design of the waterproof
handbags and leather accessories following the growth in air travel, for which he had been forward in suitcases hed be making were not suitable.
The change in the company is seen in 1978, when political activist Miuccia Prada, Marios granddaughter took over running the firm. Her resume did not indicate that she was
a prime candidate for this task, she had a PhD in political science, and was a form of mind. However, she had an unmistakable flair for fashion and when she
took over the company was struggling financially, and she was able to help turn the company around, which included extending product range and taking the brand in the direction of
haute couture as well as ready to wear fashion. Therefore, the company has faced financial difficulties in the past, and the current leadership has been able to adapt and change
to meet the needs of the market is changing, and create success. Once again the leadership of Prada is facing a challenge,
the global recession which started in 2008 has had a significant impact of global sales, resulting in a worldwide recession. Traditionally luxury brands are relatively resilient to sessions, the target
market for luxury brands often less price sensitive than the mass-market (Kotler and Keller, 2008). This means that as disposable income decreases, where as traditional sales for the mass-market may
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