Ch. 4 - The Marketing Environment

The Milan fashion powerhouse Versace is known to target the wealthy. High class citizens from all around the world. 

It's target market is mainly targeting women , men (mainly young adults) and as of now for the spring summer collection of '13 children. 

Creating the children line "Young Versace" will range Versace from infants to 65 years old. 

Which creates opportunity to connect with kids at an young age to become loyal customers in the future. Young versace supplys clothing and others to infants, tweens and teens. That's why the lines has been successful. Targeting the tweens, which is the kids and the parents at the same time. Which is a great alter to versace's marketing mix because kids fashion is becoming  way more popular nowadays. Social networks such as Facebook and Instagram having pages of fashion kids displaying good sense of style and fashion. Versace has open 4 "Young Versace" in Italy. Draw the youngster attention with the vivid and dreamy colors all around the boutique. A

Versace also altered their marketing mix in the jewelry. Manufacturing more branded jewlery with their iconic medusa head logo. Consumers are developing a taste for precious adornment that broadcast brands. According to ken gassman, president of the jewelry industry research institute, " branded jewelry sales will double to 30 percent of the 59.2 billion us fine jewelry market in the next decade". So Versace has a bright future in the jewelry market.

Ch. 3 - Ethics & Social Responsibility

Versace's ethical code is applied to everyone in its company. All staff and those who are indirectly with with them like suppliers and consumers. It's the managements duty to give practical applications to values and principles containing the ethical code. Versace's ethical code is to accept responsibility in relations internally and externally, seek to I force trust within the company and form an united group with great team spirit.

   

Versace is always updating their ethical code in order to adapt to changes in social concerns and of the laws.

Staff qualifications

Employees of versace are key elements of the existence of the business. Dedication and the professionalism of the staff are determining values and conditions in the achievements of management objectives. The managements develop the skills and capacities of each employees so that energy and creativity of each individual is able to excel in performance and achievements of the company objects. Versace's management offers the entire staff equal opportunities for professional growth. Also all versace employees will be required to dress to a professional standard whenever they're working. 

Eco- friendly 

Versace has gone Eco friendly on certain product. Versace Eco clothing is made of natural fabric materials that are non toxic and less polluting in their production. 

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Ch. 2 - Strategic Planning for Competitive Advantage -WI Students Begin Marketing Plan

Versace has recently revealed their spring 2013 collection at fashion week in Milan. 

Versace focused on their strengths at fashion week this spring collection. The production orientated brand continuing to use their bright and stand out colors. Also incorporating their infamous medusa logo more in gold. Gold is the latest fashion trend.

 One of Versace's best strategic planning was in 2011, when versace collaborated with the mass producing mid range retailing company h&m for a fall collection. They had a marketing mix. They had even exchange. H&M got to enhance their brand by having a collection designed by a top high end fashion company,Versace. Versace  received middle class customers. Not just the high class customers they advertise to.

Versace and h&m's four P's- ( product, place, promotion and pricing strategies)

Product-  The product was going to use both of their brands name. The product was a collection designed by Versace and the cloths, cuts and ??? We're from h&m. So the fashion high end looking clothing would be affordable.

Place- The distribution of the product was going to be sold at selected h&m stores. 

Promotion- Donatella Versace introduced her brand collaborating with h&m  at fashion week of 2011. Which was a big surprise because Versace previous denied collaborations with  mass producing company like h&m. Also it was the first it has been. This later on encouraged other high end fashion designers to collaborate with h&m and other mass companies.

Pricing - The pricing would slightly above h&m regular retail prices. Which was great deal getting Versace design clothing for that price.

Another time Versace used strategic planning with one of their SBU "Gianni versace spa". The newly chief executive officer Gina Giacometti ferraris, the former CEO of fashion house jil sander AG closed the 3 boutiques. Due to the environmental scanning of Japan. Japan was no longer one of the top imported of luxury goods anymore. Japan's market for imported goods fell 10% in 2009. From 1.09 trillion to 11.9 billions.

Ch. 1 - Overview of Marketing (Brief History and Mission Statement)

                                                                           The bright colors and loud designs, Versace is world wide known for its clothing being functional and still clearly displaying a fashion forward look. 

                                                       


        Versace spiritually started Gianni Versace's ( founder of versace) at Gianni mother's small tailor shop in Italy. Where Gianni learned to love manufacturing clothes and designs. In 1971, Gianni moved to Milan. There is where he got his big break. He  got to design his own collection for genny, complice and Callaghan. A top fashion house at the time.


 Later on  in 1978, versace opened up his first boutique in Milan's via Della spign with the help of his brother santo versace. Since then the brand versace has been a Italian high-end fashion powerhouse. 

          
Versace became a world wide powerhouse when Donatella versace ( Gianni's younger sister) became the head position of operate and management. Her great public relation skills gave versace the world wide recognition. She was the first person to use celebrities and famous model in their ads. Now she's  currently the head of the versace brand.



                
After the tragic death of her brother Gianni. He was murder in front of his Miami mansion in 1997. Since the brand has expanded beyond just tops and bottoms. They branched off in handbags, belts, fragrances, eye wear, jewelry and shoes. The brand is currently made up of several lines which include versace jeans couture,versace couture, versace home collection and versus and versace collection.