Ch. 10 - Product Concepts

　

Product concepts are extremely important to the performance of a company. Coach is a retailer which offers tangible goods. They have mastered product concepts by distributing the importance of each product they offer. Consumer product classification is a helpful tool that consist of a visual breakdown which better assist a company with product development. Branding of a product is key, its an instantly recognizable symbol or name that sets that brand apart from other competitors. Branding can be a sole reason on gaining the interest of a customer. Maintaining a product mix gives a consumer a range of products to choose from. Companies often expand there norm to better suit a diverse crowd. A product line often contains a variety of color, texture, function, size, etc. Coach is a family owned company which has built product loyalty throughout the years, it has stayed true to their products. When you purchased a product from coach, even their co-brand Movado, you have invested in an item that has somewhat a life time warranty. For example if you purchased a bag 6 years ago and the bag happens to be falling apart due to wear and tear you can actually pay a $25 fee and send it to get repaired. If your item can not be repaired they will try to see if they have it in stock to offer a complete replacement but if they cant replace it, you can get a credit for the worth of the bag, its incredible investment. In addition to there product they offer elegant packaging and outstanding service, this build strong customer relationship as well as longevity of a company.