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Product Development Assignment
Citation preview
Table of Contents
Market Analysis-----Page 8 Consumer-----Pages 9-10
Market Outlook-----Page 11 Competition-----Pages 12-13
Forecasting Short-Term-----Page 14 Forecasting Long-Term-----Page 15
Company Description-----Page 2 Company History-----Page 3 Integration Map-----Page 4
Product Overview-----Page 5 Product Mix-----Pages 6-7
Color Board-----Page 17
Details Board-----Page 18 Line Sheet-----Pages 19-20
Costing Spec-----Page 21 Branding-----Page 22
Advertisement-----Page 23 Sources-----Page 24 Thank You-----Page 25
Executive Summary-----Page 1 Concept Board-----Page 16
Executive Summary We decided to integrate a bed and bath line to the prestigious Saks Fifth Avenue because we felt that this would be the best move for the brand in order to grow and reach more customers. Several of Saks Fifth Avenue’s competitors have already ventured off to the home line department with that being said we also want to keep up with our competitors.
Company Description
Company History • Saks Incorporated was established in 1924 by Horace Saks and
Bernard Gimbel who wanted to create a unique specialty store that concurred with fashion and elegant living.
• The first Saks Fifth Avenue was in the Manhattan area of New York city. They later expanded al over the country.
• Saks were the first to launch America’s first Dior boutique in the 1970’s and Donna Karan’s debut collection in 1980’s.
• They have branded themselves to have the highest quality of men’s and women’s fashions and they are very proud of their exceptional customer service.
• In a few words Saks Fifth Avenue can be best described as tasteful and elegance.
Integration Map
Saks Incorporated
Off 5th Saks.com Saks Fifth Avenue FashionFix.com Saks
Direct
Product Overview Saks Fifth Avenue is now introducing Royalty Ware the newest and most lavish homeware line. Royalty Ware executes luxury, elegant, and quality. We have developed a small line of bath and bedroom accessories to debut into the Saks empire. This line will complete the lifestyle to the Saks consumer that loves to surround themselves in beautiful garnishing.
Product Mix Trash Cans
Tissue Box Covers
Tooth Bush Holders
Soap Dispensers
Cotton Ball Containers
Towel Set Includes: Wash cloth Hand Towel Body Towel
Soap Dishes Floor Mats
Product Mix Bed Skirt
Decorative Pillows
Duvet Covers
Fitted Sheets Pillows
Loose Sheets
Market Analysis
Consumer
Money & Brains High incomes, advanced degrees, and sophisticated tastes •Married with children •45-65 •Live in fashionable homes •Career in management •Household income: $93,457
Young Digerati Tech-savvy and live in fashionable neighborhoods, they are highly educated, and ethnically mixed, communities are typically filled with trendy apartments and condos. •Wealthy younger family mix •25-44 •Career in management •Household income: $91,104
• Women and men • Ages 25 & up • We target a customer who have recently gotten married and are
looking for luxurious pieces to fill their new homes.
Consumer VALS Achievers Achievers have goal-oriented lifestyles and a deep commitment to career and family. Their social lives reflect this focus and are structured around family, their place of worship, and work.
VALS Innovators Innovators are successful, sophisticated, take-charge people with high self-esteem. Innovators are very active consumers, and their purchases reflect cultivated tastes for upscale, niche products and services.
Buyers Market
Consumers in need for homeware
New home sales has boosted shares of homebuilders Homebuilding index up 17 percent this year, compared with a 9.3 percent gain for the Standard & Poor’s 500 Index.
Market Outlook
Competition Barney’s New York is a luxury department store chain sells designer apparel for men, women, and children; shoes; accessories; and home furnishings.
Décor $115
Gourmet
Home Fragrance
$84
Table Top $285
Desk
Books & Games
Pillows & Throws
$225 Tech & Travel $125
Competition Bloomingdale's is committed to once again lead the way with exclusive merchandise, customized services, and alternative shopping venues. Carrying on the Bloomingdale's brothers' dream, we're always finding ways to set our stores apart. That's both the legacy and the promise of Bloomingdale's.
Bloomingdale's "Basic Essentials” Sateen Sheet
Sets$139.99
Bloomingdale's "Platinum Elite" Towels $11-$62.50
Concepts Patterns
Colors
Forecasting Short-Term
Forecasting Long-Term Differentiating Our
Selves from Our Competitors
Goals •Successful brand extension •Establish customer base
•Effective marketing and branding
Concept Board
Color Board
Dark Spring Slate Raw Amber Harlequin Moscow Gold
Sepia Glitzy Golden Antique Brass Opulence Chestnut
Details Board Trimming
Decorative Details
Line Sheet
Line Sheet
Date: 10/20/2012
Account: Saks.com
Group Name: Holiday Sheets
Size Range: Full-California King
Label: Royalty
Factory: Saks Fifth Ave
Quantity: TBD
Target Cost: $52
Target Retail: $105
Garment Details
Ref#: B5300 Fabric: 100% Egyptian Cotton
Trim: 100% Egyptian Cotton
Trim Yield: 2 Yards
Notes:
Skirt
Trim
Costing Spec
Branding Letter Head
Business Card
Hang Tags
Website
Live Like Royalty
Advertisement
Sources ℜ"About Barneys." Barneys New York. Web. 02 Mar. 2012. <http://www.barneys.com/History/HISTORY%2Cdefault%2Cpg.html>.
ℜ""bathroom Accessory Set Stainless Steel" :." Bathroom Accessory Set Stainless Steel-Bathroom Accessory Set Stainless Steel Manufacturers, Suppliers and
Exporters on Alibaba.com. Web. 02 Mar. 2012. <http://www.alibaba.com/showroom/bathroom-accessory-set-stainless-steel.html>.
ℜ"Features & Trends." Homeware Trends and Styles for 2012. Web. 02 Mar. 2012.
<http://www.matalan.co.uk/fcp/departmenthome/brand/home-trends>.
ℜ"Interior Design, Interior Decorating Ideas, Home Improvement." 2011-2012 Trends in Interior Design. Web. 02 Mar. 2012.
<http://www.adesignerspot.com/decorating-styles/2011-2012-trends-in-interior-design.html>.
ℜ"Our History â�� About Us | Bloomingdale's." Our History â�� About Us. Web. 02 Mar. 2012.
<http://www1.bloomingdales.com/media/about/history.jsp>.
ℜ"Tag Archives: Homeware Trends." Homeware Trends. Web. 02 Mar. 2012. <http://www.trendbible.co.uk/blog/tag/homeware-trends/>.
ℜ"VALS| VALSTypes | Innovators | SBI." Strategic Business Insights. Web. 02 Mar. 2012.
<http://www.strategicbusinessinsights.com/vals/ustypes/innovators.shtml>.
ℜ"Wholesale Ceramic Bathroom Set." - Buy China from Chinese Wholesalers. Web. 02 Mar. 2012. <http://www.dhgate.com/wholesale/ceramic
bathroom set.html>.
ℜ"Wholesale Towel Supply." Wholesale Towels. Web. 02 Mar. 2012. <http://www.usatowl.com/>.
ℜ"ZIPskinny Demographic Information for 10600 -." ZIPskinny. Web. 02 Mar. 2012. <http://zipskinny.com/index.php?zip=10600>.
Thank You By: Sonia Luevanos
& Sophia Griego