Eileen Fisher – Repositioning the Brand
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If EILEEN FISHER were a person, what demographic, psychographic and personality taste would it have?
Demographic: Baby Boomer Female (born between 1945 & 1964), 45 to 64 years of age
Psychographic: Affluent women with an active outlook, connected
Personality: Independent, vibrant, colourful, energetic
Should EILEEN FISHER Expand Its Target Market?
Eileen Fisher caters to roughly 33.3% of the population, amounting to about $80 billion market size. However, recent public discourse and the market research by IDEO make a definite case for Eileen Fisher to expand their target market.
The median age of Eileen Fisher’s customer was 59 at that time, and it had been increasing every year, which effectively shows that the brand wasn’t catering to the newer generation of the intended target market (women aged between 45 & 64), causing their target segment to shrink over the years.
IDEO’s market research also found that it wasn’t necessarily Eileen Fisher’s clothes that were a problem for the younger generation as they seemed to like them once they gave it a try. The newer generation of women were merely acting out of the general perception of Eileen Fisher being an old brand catering to mostly Moms and Grand-moms.
IDEO’s market research also pointed out three distinct consumer segments within the Eileen Fisher’s target market – Established, Emerging & Nascent. Segmenting their target group on these lines would allow Eileen Fisher to cater to a larger consumer base without forsaking their loyal consumers.
How Eileen fisher needs to change to reposition the brand?
Eileen Fisher would need to relook at the 4P’s of their marketing mix.
Product: