netrashetty
Netra Shetty
Ann Taylor (NYSE: ANN) is an American group of specialty apparel retail chain stores for women, headquartered in New York City, (7 Times Square Tower, New York, NY 10036). The stores offer classic styled suits, separates, dresses, shoes and accessories. The brand is marketed under four divisions, Ann Taylor, LOFT (formerly Ann Taylor LOFT), Ann Taylor Factory and LOFT Outlet.
Richard Liebeskind, the founder of Ann Taylor Stores Corp., opened his first store in 1954. The first Ann Taylor store (Store 0001) was opened two years later in New Haven, Connecticut. "Ann Taylor" was the name of a best-selling dress at the founder's father's store. Both the best-selling dress and the name "Ann Taylor" were given from the father to his son, Richard Liebeskind [3], for good luck. [4] Liebeskind decided to go with the name Ann Taylor because "Ann" was considered a very New England name, and "Taylor" evoked the image of tailored clothing. The name created the ideal identity of classic woman's apparel.
As of the end of fiscal 2008, Ann Taylor had 935 stores consisting of 320 Ann Taylor stores, 510 LOFT stores, 91 Ann Taylor Factory stores, and 14 LOFT Outlet stores.[5] Total revenue was $2.4 billion, of which $1.09 billion came from the company's Ann Taylor Loft division, $689 million from Ann Taylor, and $417 million from Ann Taylor Factory Store
6. Market Entry
Selection criteria
Any company that hopes to win over its customers in the long term must have in place a process to identify and meet customer expectations on at least three levels. These include basic expectations of the product or service before purchasing, stated performance requirements of the product or service after purchasing, and arising needs for newer additions to the product or service over time (Thierauf 1999).To assist marketing management in getting a handle on the changing times and the changes affecting their core products and services, there is a need for market research information gathered internally as well as information gained from market research forms. It should be noted that market researchers can also obtain appropriate information from magazines and newsletters, conferences, financial reports, trade and government organizations, and the Internet. No matter what the sources of market research used, it should be employed carefully (Thierauf 1999). That is, it should be more than a mere guide for marketing managers to develop and support market-based decisions. Although newer information technologies allow companies to get a better understanding of their customers, there still seems to be a feeling among marketing managers that there is a straightforward linear relationship between customer satisfaction and loyalty (Thierauf 1999). Marketing areas that are logical candidates for tactical optimization are commonplace. The capability to analyze key aspects of the changing marketing landscape and the capability of marketing managers to make key decisions about the present and future directions of markets will make a very important difference between being somewhat successful and being extremely successful (Hoctor & Thierauf 2003).
A company that undertakes a creative approach that is proactive to current and prospective customers can utilize a smart business system to help get a better handle on its customer base. A company can reap the rewards of marketing information, knowledge, and intelligence by taking a longer-range view and acknowledging that ongoing marketing activities are critical to new product development and related services. Typical other areas that lend themselves to smart marketing include advertising, market research, and physical distribution (Hoctor & Thierauf 2003). Marketing management is focused on the application of various marketing techniques to manage the firm’s marketing resources and activities. It is also used to manage the entry into a newer market. Entry market strategies depend on the situation in the internal and external environment. The entry market strategies adjust on the kind of situation in the environment. The entry market strategy also adjusts depending on how familiar or similar the market’s condition is to their domestic market.
Before selling a product or service, it's important to know the market that you will be entering into. Research includes finding out what potential customers need, want and don't want, and why. Your goal is to build a demographic profile of your customers. A research or business library can prove helpful for studying the manners in which other small businesses have approached their target audiences. You can then take a similar approach, adding your own creativity and the particular benefits of your products or services.
Surveys, questionnaires, and focus groups are three among the many ways to obtain original data on potential customers. You can also get basic information when a customer calls for your services, visits your facility, or browses your web site. When customers make a purchase, or any kind of inquiry, you can find out where they heard about your business. In this manner you can better plan, and track, your marketing efforts.
Your marketing plan should be the result of your market research. You can then proceed to use the most viable means to promote and advertise your products or services.
Richard Liebeskind, the founder of Ann Taylor Stores Corp., opened his first store in 1954. The first Ann Taylor store (Store 0001) was opened two years later in New Haven, Connecticut. "Ann Taylor" was the name of a best-selling dress at the founder's father's store. Both the best-selling dress and the name "Ann Taylor" were given from the father to his son, Richard Liebeskind [3], for good luck. [4] Liebeskind decided to go with the name Ann Taylor because "Ann" was considered a very New England name, and "Taylor" evoked the image of tailored clothing. The name created the ideal identity of classic woman's apparel.
As of the end of fiscal 2008, Ann Taylor had 935 stores consisting of 320 Ann Taylor stores, 510 LOFT stores, 91 Ann Taylor Factory stores, and 14 LOFT Outlet stores.[5] Total revenue was $2.4 billion, of which $1.09 billion came from the company's Ann Taylor Loft division, $689 million from Ann Taylor, and $417 million from Ann Taylor Factory Store
6. Market Entry
Selection criteria
Any company that hopes to win over its customers in the long term must have in place a process to identify and meet customer expectations on at least three levels. These include basic expectations of the product or service before purchasing, stated performance requirements of the product or service after purchasing, and arising needs for newer additions to the product or service over time (Thierauf 1999).To assist marketing management in getting a handle on the changing times and the changes affecting their core products and services, there is a need for market research information gathered internally as well as information gained from market research forms. It should be noted that market researchers can also obtain appropriate information from magazines and newsletters, conferences, financial reports, trade and government organizations, and the Internet. No matter what the sources of market research used, it should be employed carefully (Thierauf 1999). That is, it should be more than a mere guide for marketing managers to develop and support market-based decisions. Although newer information technologies allow companies to get a better understanding of their customers, there still seems to be a feeling among marketing managers that there is a straightforward linear relationship between customer satisfaction and loyalty (Thierauf 1999). Marketing areas that are logical candidates for tactical optimization are commonplace. The capability to analyze key aspects of the changing marketing landscape and the capability of marketing managers to make key decisions about the present and future directions of markets will make a very important difference between being somewhat successful and being extremely successful (Hoctor & Thierauf 2003).
A company that undertakes a creative approach that is proactive to current and prospective customers can utilize a smart business system to help get a better handle on its customer base. A company can reap the rewards of marketing information, knowledge, and intelligence by taking a longer-range view and acknowledging that ongoing marketing activities are critical to new product development and related services. Typical other areas that lend themselves to smart marketing include advertising, market research, and physical distribution (Hoctor & Thierauf 2003). Marketing management is focused on the application of various marketing techniques to manage the firm’s marketing resources and activities. It is also used to manage the entry into a newer market. Entry market strategies depend on the situation in the internal and external environment. The entry market strategies adjust on the kind of situation in the environment. The entry market strategy also adjusts depending on how familiar or similar the market’s condition is to their domestic market.
Before selling a product or service, it's important to know the market that you will be entering into. Research includes finding out what potential customers need, want and don't want, and why. Your goal is to build a demographic profile of your customers. A research or business library can prove helpful for studying the manners in which other small businesses have approached their target audiences. You can then take a similar approach, adding your own creativity and the particular benefits of your products or services.
Surveys, questionnaires, and focus groups are three among the many ways to obtain original data on potential customers. You can also get basic information when a customer calls for your services, visits your facility, or browses your web site. When customers make a purchase, or any kind of inquiry, you can find out where they heard about your business. In this manner you can better plan, and track, your marketing efforts.
Your marketing plan should be the result of your market research. You can then proceed to use the most viable means to promote and advertise your products or services.
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