Marketing Mix

A company's marketing mix has five components, which are the following; advertising, sales promotions, personal selling, public relations, and direct marketing.

Advertising

Vera Bradley takes a very interesting approach to advertising. I feel that Vera Bradley is a product that is well recognized by people, they just may not know the name. For example I was talking to a friend yesterday and they asked me where something was and I said under my Vera bag and they said “oh so that are what these things are called”. So I feel the product is well known be sight, their name on the other hand may not be well known. You don`t really see commercials for Vera Bradley. Mostly you will see magazine ads or you will be in the mall and walk by a store that has that product and go in. When you go to look for Vera Bradley commercials, you will most likely only find fan made ones, such as this one: http://www.youtube.com/watch?v=cFZojmKore0&feature=PlayList&p=493C10D53DEE0CBA&playnext=1&playnext_from=PL&index=21
Rose parade is “is the "America's New Year Celebration", a festival of flowers, music and equestrians and a college football game on New Year's Day, produced by the non-profit Pasadena Tournament of Roses.” And in 2009 Vera Bradley was the first fashion line to have a float in the parade. This is a form of adverting. Getting your product seen may tons of people in a moment’s time.
http://www.youtube.com/watch?v=3sa3iIwm6Cs&feature=related

Sales Promotion

Vera Bradley is an expensive product, but a product that is well worth the money. They do have frequent sales. And if you are a member of Vera Bradley the send you special offer, such as 20% off your next purchase, a coupon. They also let you get a sneak peek at their new colors, if you are a member. Also since they are always coming up with new colors, they retire older ones, and products in the retiring colors are always on sale.

Personal Selling

Original the only places you could get Vera Bradley was either on their website or in a store that carries there product. Not all stores where allowed to carry their products. You would usually see Vera Bradley in smaller bouquet type stores. But recently Vera Bradley has opened their own stores, dedicated solely to Vera products, all over the US. The sales associates that work there are very dedicated, having been to a Vera Bradley store myself recently, and are well-knowledge about their products and they help you in any way they can to get you the exact product you want from them. Because they know you are spending a good deal for their product and they want to make the purchase as enjoyable as possible so you will become a repeat customer. They call them their signature stores. http://www.verabradley.com/Site/StoreLocator/StoreLocator.aspx Here is where you can locate stores that are signature stores or stores that carry their products.

Public Relations

Vera Bradley as a very good reputation. They take their work serious and work hard. They product lines are geared more towards women, so they have had proceeds of peoples purchase go to the breast cancer fund to find a cure. They care what their name says to people and work hard at keeping it a name people regard well.

Direct Marketing

When you become a member of Vera Bradley, or when you have bought something from them in the past and given them your address, they send you month “booklets”. They are about 4 or 5 pages show off some of their products. Besides the booklets they send you emails as well. They send things to grab your attention. The emails are more personalized to you and the products that you are more likely to buy.

Pricing Strategies

Vera Bradley I believe uses market price skimming. Their products are usually on the more expensive side, especially when it comes to their new lines. They slowly lower the prices of certain items once they have been around for quite some time. Also when a color is about to “retire” they set the prices lower. http://www.verabradley.com/Site/Store/Retired.aspx If you where to order a bag in a “retiring” color it would be cheaper then ordering that same bag in a “non-retiring” color. They want to get rid of old stock to make room for the new colors and collections that have come up with. They just came out with a sunglass line and they are fairly expensive. http://www.verabradley.com/Site/Store/EyewearHome.aspx?dept=33
But with this new sunglass line they use price value. Consumers know that these products, by Vera Bradley, are worth the money. There bags, which they are best known for, wear well and are definitely worth the more money. I personally have a few things by them and they are still in great condition even after the years of use. Even though at times it can be a hefty price for me to bag for the bag, I know in the longer run it will be worth every dime I spent on it. So even though Vera Bradley products can be more on the expensive side, I do agree with their pricing strategies. It makes the most sense for their company and worked very well over the years for them.
Here one customer is taking about a certain hand bag and her thoughts on the product, which is loves. http://you-mart.com/clothes/handbags/vera-bradley-hipster-mod-floral-blue-reviews-and-information.php

Target Market

As a company Vera Bradley is creative, colorful patterns and high quality products. With all the different type of bags, luggage and accessories they offer they reach a wide range of consumers. When one logs onto the Vera Bradley website, you tend to see pictures of mid aged women with the “preppy” style for fashion. Vera Bradley does market to this group of consumers but also too many more.

Vera Bradley mostly targets mid aged women and moms. They have many size bags and multi-purpose bags as well. With bags that can server for many purposes, this quality is very attractive to the “on the go” mom or working women. Vera Bradley also offers sophistication along with their fun loving colors and patterns. This makes it easy for the consumer to use it for a bag to bring into work or to go out for the night with friends. With the many different patterns, that each style comes in, it is easy to have your own personal pattern for your own collection of Vera Bradley products, making it feel like this is just made for the consumer. Vera Bradley has started to expand their products over time to try and reach new markets.

Another target market, it the younger women, usually the college student or resent college grad heading into the work force. With their large bags, that serve very well as book bags and their many accessories that can help keep you organized, with some style, makes it ideal for a college student. Vera Bradley also as clothing they have started. Such as pajama shorts and pants, belts and even flip flops once again appealing to a younger crowd. They are also products that are easy to care for, making it appealing for both target markets, not just the student.

Vera Bradley researches their markets well, trying to appeal to both, and keep introducing new products to keep the markets strong. With consumers behaviors, styles, wants and needs always changing Vera Bradley keeps up very well, with the always changing market.

Environment

Vera Bradley is constantly changing and expanding their company. Their colors are always changing for the season and the new trends in their market. They have also have created luggage, all different types of bags, many types of different accessories such at journals and they have started to make clothing with their patterns. Vera Bradley is always changing and adapting to their product markets environment. They develop new products and new patterns to go along with the changing environment. This is one of Vera Bradley`s strong points.

Vera`s Positioning

Consumers wont find Vera Bradley at any store such as Target or Walmart. You will mostly find Vera Bradley at speciality stores or boutiques. By putting their products in these types of stores they are upgrading there product by just were you can buy them. Vera Bradley has a reputation as a high quality brand of bags and accessories and by putting them in not an everyday store influences there brand even more. You can also get there product from their online website, which sells only their products. Also on their website you can find information on all their current colors, new colors and retiring colors. By giving this information they are letting their customers in on the processes for the future of the company. They also have sent emails about previewing new colors and voting on favorite colors. By positioning their products in special stores, Vera Bradley has set themselves up for the type of customers they want.

Core Competency

One of Vera Bradley`s core competency is their patterns. Their patterns standout with their colors and design. They are not afraid to step out of the box with the bright colors and design. Their patterns are hard to copy, they are one of a kind. Another core competency is that they offer so many different types of bags, luggage and accessories from them. They have many different styles and they are available in most of their patterns. Vera Bradley is always coming up with new colors and patterns. They are also very good at promoting their online store, with sales and promotions. But what stands out most from the Vera Bradley company is their ability to stand out with their bright colors and unparalleled patterns for their products.

Mission Statment

Vera Bradley`s mission statement is very short, but direct. It gets right to the point and tells you, the customer, what Vera Bradley promises to uphold as a company. "Located in Fort Wayne, Indiana, Vera Bradley continues to remain steadfast in our commitment to excellent quality, exclusive designs and dependable customer service". It list the three main qualities their company wants to uphold. Their mission statement can be found at the end of the company`s story on their homepage. Vera Bradley tends to stand out because of the quality of their product and their uniqueness and standout designs. Their mission statement seem, to me, to support everything I, as a customer myself, tend to see.