The company that I chose to research for my company profile paper is on the clothing store Francesca’s. Francesca’s is a boutique like store that contains different women’s fashion trends that range from clothing, jewelry, and shoes. Francesca’s also offers specialty items and gifts that include candles, wall art, and gag gifts (Coltrin, 2010). The reason I chose Francesca’s for this project is because this store interests me. I first started shopping at this store when I was about sixteen years old. The store quickly became very popular for my friends and I as the store offered something that we had never seen before; boutique items for reasonable prices. Francesca’s is becoming increasingly popular among women of all ages that are looking for fashionable one-of-a-kind items without breaking the bank.
It all started in 1999 when Francesca’s first opened their doors in Houston, Texas (Coltrin, 2010). Looking at the name of this new fashion boutique, one would assume that the person behind it all would be named Francesca. This would be far from the truth however. The company wasn’t started from a girl named Francesca like many would assume. In fact, Francesca’s was started by three siblings and a close friend. The three siblings, Chong Yi, Kyong Gill, Insuk Koo, and their friend John De Meritt are the four names behind Francesca’s (Oursler, Sept 2012). John De Meritt held the position of the president, as well as the chief executive officer for Francesca’s until recently retiring in 2012 ("John de meritt"). John De Meritt isn’t the only co-founder to recently retire from Francesca’s however. Kyong Gill has also recently retired from her position of Executive Vice Chairperson of the Board of Directors in 2012 ("Kyong gill"). John De Meritt and Kyong Gill both retired shortly after the company went public in 2011 (Fontana & Teklits). Chong Yi and Insuk Koo are the only original founders who still participate in the company today.
Francesca’s is unquestionably a market orientation company. Being a market oriented company means that the main goal of the company is to satisfy a specific group of people’s wants and needs as well as focusing on customer satisfaction. This is done by offering a higher quality product or by even taking a common product and improving it by making changes small/large changes to it.
“There may be a tunic top that doesn’t have beads around the neckline and we’ll request that beads be added, or we’ll raise the hem two inches. We’re able to take what is something that is off the rack and sold for $12.99 at x, y and z and we make it a little bit nicer and more Francesca’s-like and sell it for $39.99.”- John De Meritt (Coleman-Lochner, 2010)
In a market oriented company, the company should be in constant contact with consumers and researching different buying habits of their customers. Francesca’s stays connected with their consumers by the use of social media. Pinterest, Facebook, and Instagram are just a...