Please respond to the following posts in no more than 50 words 1. Diverse Compet

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Please respond to the following posts in no more than 50 words
1. Diverse Competitors- With there being so many brands of bags, styles and models of bags it is important to have a strong selection of your brand I believe this may be a factor in Coach slow sales.
Lack of Differentiation- Most brands have many styles of bags which appeal to different consumers. What I have seen is a lack of uniqueness in Coaches bags.
Numerous or equally balanced consumers- There are PLENTY different bag brands aside what even what has been listed in this brief reading. I believe that you have to stand out to grow and remain a competitor. Otherwise what will make Coach a choice of many…
Brand Loyalty- I believe that due to there being no loyalty in consumers it has drastically dropped sales. You have to appeal to loyal customers as well.
Excess inventory- Due to a lack of sells many bags that are made are not bought.
2. The key factors contributing to Coach’s decline include the intense competition (High) from firms of similar size and capability and the ease with which consumers can switch between brands. In the luxury handbag market, there are a vast number of brands offering similar styles and quality, making it easy for consumers to move from one brand to another. This challenge is heightened by high fixed costs. Luxury handbag buyers are often drawn to what’s new, unique, and offers the best value for their money. As trends shift toward specific brands, consumers are quick to follow, leaving little room for brands that fail to stand out.

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