Essay: Problems faced by Coach Inc
One of the biggest problems facing Coach, Inc is that the management has first to face a problem for it to solve it. This means that there are no strategies set to prevent problems from arising but instead the challenge is first experienced and then solutions are sought. Another problem facing Coach, Inc is that of failing to plan such that it will be hard for new firms enter the firm. A number of new firms posing as competitors who entered the market in the year 2006 and 2008 clearly show that it is very easy for any beginner to enter the handbag industry. Since there are different demands patterns for different locations, Coach, Inc should not market the same type of handbags to all its retail locations in the different countries it does business in.
One of the recommendations is that there should be strategies, strategists whose main task should be to focus on any challenges, which can be faced in the future, and thus preparations of overcoming them achieved. The problem of easy entry to the industry can be solved by monopolizing the industry by Coach, Inc such that new entrants will find it hard to survive in the industry. With low prices offered to the quality products and by having good distributions, many customers will be made loyal to the firm and leaving Coach, Inc to buy handbag from other new firms will be hard. This will eventually mean that new entrants will have no customers to buy from them and they will soon quit the industry. It is recommended that Coach, Inc supplies different designs of handbags to the different countries it does business in. it should also be recommended that Coach, Inc should continue advancing to do business all over the world but with different designs for each country.