HUGO BOSS

HUGO BOSS: Evaluation of Marketing Strategies

[Name of the Institute]

Table of Content

Introduction3

Competitive Edge3

Situation Analysis4

Segmentation5

Targeting and Positioning6

Marketing Strategies adopted by Hugo Boss6

Product7

Price7

Placement8

Promotion8

Recommendations for Improvement8

7 steps to improve the marketing of Hugo Boss9

Contingency Plan11

Conclusion13

HUGO BOSS: Evaluation of Marketing Strategies

Introduction

The group Hugo Boss is well founded in 1970. The brand became a society of ready-to-wear clothing for men. In 1984, they work with Procter & Gamble to launch fragrance lines. In 1985, the company floated. Soon, the Holy brothers sell 51% of the shares in Italian industrial group Marzotto SpA (now Valentino Fashion Group). In 1993, Peter Littmann was hired as CEO of Hugo Boss. Three brands will differentiate clothing lines: Boss for classic lines, for Hugo youngest and trendy designs, and Baldessarini for luxury clothing, named the artistic director Werner Baldessarini, of Austrian origin. However, the brand Baldessarini will be sold in 2007 to its founder Werner Baldessarini.

In 1996 created the Hugo Boss Prize for contemporary art. In 1997, the company is yet another growth driver sign a license agreement for watches with the company Helvetic Tempus Concept. The following year, sales of Boss Woman increased by 60%. In 2004, Boss opened the flagship store of 1100 sqm at 115 Avenue des Champs-Elysees. Launched in 2005 are a male cosmetics line, Boss Skin. In 2006, a second store opens rue Saint-Honoré in Paris.

Competitive Edge

The revenue shares, distributed among the following segments: 38% women's clothing, footwear 18%, 17% of men's outerwear, underwear 10%, 7% other clothing, outerwear 6% and 4% of hosiery. The core competencies of HUGO BOSS clearly lie in the areas of business and men's clothing and perfumes. To transfer the core competencies to new market segments in the clothing and perfume market, was the offer in the past few years by expanding leisure apparel, ladies apparel and clothing accessories close (Hans, Jeffrey, Wayne, 1996, pp. 281-292). The brand is the classic BOSS core brand for quality conscious customers: fashion for every occasion. These include several independent collections for men and an extensive women's collection. For example, the BOSS Dress: smart, stylish and sophisticated fashion and leisure BOSS: outlandish, casual, outdoor clothing and perfumes.

The price is competitive and affordable (value for money). The BOSS clothing is more "business-driven" and BOSS leisure rather "driven sportswear." Avant-garde is the innovative and trendy HUGO collection for men and women. The case of HUGO BOSS clearly shows the dimensions of brand extensions. The whole business of clothing was again expanded to include clothing accessories.

Situation Analysis

In tits section, we will evaluate the overall market position and review the competition in the market for Hugo Boss, while considering its strengths, weaknesses, opportunities and threats. In 2006, for the fortieth consecutive year that the perfume industry recorded an increase of 43% in sales as compared to exports. Little related to movements in the international environment for the perfume industry through the crisis of the national economy that does not seem to have taken on its niche industry that sells primarily because luxury goods not subject to ...