Carter's brand Essay Example | Topics and Well Written Essays - 1250 words

Carter's brand - Essay Example Most of the families have two wage earners. In general, Carter's is focused on three different markets namely infants, toddlers, and preschoolers. (Carter's Company Profile, 2006). Strategy Statement. Be in one of the most highly rated industries for stability and success, Carter's offers a high quality clothes to everyone who wants excellence for their children. It is advantage is that Carter's meets the requirement of wide audience marketing fashion made of high quality materials. The high quality materials are the main criterion for Carter's. It does not want to reduce costs of production as it can worsen quality of goods (Caster's Inc, 2006). Recommended Message Strategy. In order to compete on the market, Carter's can implement new product line based on natural materials only for those who are health conscious and are willing to pay for natural fabric and dyes. This strategy will help to create a core of loyal supporters and repeat buyers. The target audience of Carter's will not be changed greatly, although Carter's can attract high income market segment that can afford high quality baby clothes at high price. This new line will help to penetrate to new market and create a strong target audience. The sales strategy is to build and open new locations on schedule in order to increase revenue. This strategy will help to overcome possible demographic changes and attract new market segment in order to sustain strong brand and market image as a leader in the USA baby clothes and apparel for fashionable youngsters SWOT ANALYSIS Strengths 1. Brand Recognition. Carter's brand creates a complex bundle of images and experiences in the customer's mind. It represents a promise about a high quality children clothes and the latest fashion designs. Carter's brand recognition helps it to differentiate the company's offering from all others. Customers integrate all their experiences of observing, using, or consuming children clothes with everything they hear and read about it (Carter's, Inc. Reuters, 2006). 2. Brand Equity. Brand equity represents the added value that accrues to a product as a result of Carter's prior investments in the marketing of the brand. Brand equity is thought of as an asset representing the value created by the relationship between the brand and customers over time. The stronger the relationship, the greater the equity. For example, the value of Carter's has been estimated to run in the billion of dollars (Caster's Inc, 2006; Fill, 1999). 3 Stable Financial Growth. Carter's retail value is about $17 billion, and expected to jump up to $20 billion by 2010. Also, "total wholesale sales increased $8.4 million, or 9.3%, to $99.0 million in the first quarter of fiscal 2005 from $90.6 million in the first quarter of fiscal 2004" (Quarterly Report: Carter's, 2005.). This tendency shows that Carter's is able to react to changing economic conditions and increase sales volume which is about 17.0% a year (Caster's Inc. Hoovers, 2006). 4. Technological Innovations used by Carter's include Internet marketing. Internet marketing has a wider possibility than traditional marketing. For instance, Carter's uses bolt-on systems based on the addition of an e-business system as a value added service to existing supply chains. These types of B2C systems are common among retailers like Carter's and help to attract more customers and