Marketing Project Essay

4778 words - 19 pages

Part IThe WestPoint Stevens Company is America's largest producer of bed and bath accessories, a prominence attained through inventive marketing, low-cost production, and inventive design. In the year 2000, The WestPoint Stevens Company enjoyed sales of nearly $1.8 billion, and had 27% of the market share in Bed and Bath accessories. They were also the industry leader in sales growth, low-cost production, and had award-winning marketing for their product line. The company is the leading supplier to large retailers such as Federated, Kmart, JC Penney, Sears, Target Corp., and Wal-Mart. WestPoint Stevens is also the right fit for our product because of their willingness to create and invest in development of new technology. Between 1993 and 2000, WestPoint Stevens spent about $925 million in the modernization of plants and products. Additionally, the company's 187 years of selling experience in the home product industry makes it an easily recognizable and respected brand.Because the bed accessory industry is in its maturity stage, there are many competitors that share the market with WestPoint Stevens. One large company in the home fashions trade is Hollander. The Hollander customer base is extensive and covers a broad spectrum of retail distribution, from the high-end retail department stores and specialty to the mass merchants. Hollander boasts "the diversity of their distribution" has been the key to their success in what they call the "demanding retail environment." Like WestPoint Stevens, Hollander aims to "work closely with customers to deliver the right assortment, support materials, advertising, packaging, point of purchase materials and sales training." Their product line features very similar products to WestPoint Stevens, although their products seem to be of higher price. Additionally, Hollander is a direct competitor of WestPoint Stevens in many of the popular retail stores and catalogs in which they sell their products.Other competitors include Pillowtex, a company recently recovering from bankruptcy, and Springs Industries, a company that focus mostly on home fashions. Pillowtex provides standard bedding products and they are less focused on the new trends in bed accessories. They target those who are looking for a high quality product, but sell their pillows at a high price. They pride themselves on manufacturing good quality products and enjoy widespread distribution to many top brand names. However, they do not reach as large of the amount of retailers as WestPoint Stevens does.We feel that the industry trends for bedding accessories are aimed at fulfilling a desire for comfort and health benefits. We plan to emphasize the fact that over one-third of people's lives are spent in bed. Looking from this perspective, it becomes important to provide a comfortable and satisfying sleeping experience to the consumer. Viewing products that have made it on the bedding market, a few clear examples of this emphasis on health and comfort...

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