The Brand Targeted On Women Shoes
Ch. 8 – Segmenting and Targeting Markets
Salvatore Ferragamo began out providing quality shoe merchandise for the Marilyn Monroes and Rita Hayworths of his day. His market phase have been weathly movie star girls. The model targeted on girls shoes, purses and accessories for the first forty years of the corporate. In 1970 Ferragmo brand under his widowed spouse Wanda, introduced males’s footwear and clothes. Salvatore son, Leonardo was head of ferragamo monk the men’s line. I believe this market segmentation was introduced as a result of the executives of the brand felt it was time to expand right into a promising market of luxurious gadgets for males. Generally, with the introduction of selling segmentation to a complete gender the criterias of segmentation would all the time be met.
The brand’s largest growth strategy recently has been China. China has been the new “huge” promising marketplace for luxurious goods. CEO Ferrcuio Ferragamo acknowledged he has been creating the market in China since 1994. CEOs of LVMH along with Ferrcuio and other luxary manufacturers consider China is a growing market with a vast inhabitants.