Essays /

Canada Goose Essay

Essay preview

Student ID: 7095822 Page 1 of 7
Question 1
Canada Goose has shown excellent performance and numbers ever since Dani Reiss took over as CEO of the company in 2001. In the decade since, the company has registered an astounding 4000% growth leading many in the industry to deem Reiss as a visionary. Canada Goose has established strong markets in many European countries, especially the Scandinavian ones in addition to its home base in Canada. What is more surprising is that the company has been able to achieve such phenomenal success at the most meagre of marketing budgets – marketing including salaries accounted for 10% of Canada Goose’s total revenue. Organic marketing, including word of mouth marketing were the company’s biggest draws and speak volumes about the well-established brand’s loyalty and value amongst its customers. I would give the brand an excellent score of 9 on a 1 to 10 scale of brand strength. Through proper brand management, the company has been able to establish an aura of exclusivity around the brand – this is even more impressive when you consider that the brand had initially started out as a utilitarian brand, nowhere close to high end, luxury jacket manufacturers out there. By effectively using marketing tools, Canada Goose has indeed now become more of a status symbol for many and the demand for these sought after products has always outstripped supply by a mile. An example of how the management effectively were able to establish Canada Goose as a high-end, authentic brand is as follows – before Dani took over the company utilized product placement and would give bouncers outside bars who had to stand in the extreme cold all night their jackets but now the company has signed a sponsorship deal with Fairmont Hotels and outfits all the bellhops, greeters and doormen at every Fairmont Hotel in Canada Goose jackets. Not only does it help to strengthen the brand’s association with exclusivity but it also bolsters the association that Canada Goose has with Canadian Heritage and History. The fact that Canada Goose jackets never go on sale, even during big shopping events during Christmas, is proof of the brand’s tenacity. Like other luxury brands, for example Louis Vuitton – who has famously never gone on sale – Canada Goose jackets as well have never been sold for a discount. They are instead often sold at a premium by many of its retailers. The fact that there have been numerous attempts by large national retailers to order the company’s jackets, which were all turned down by the company is testament to the brand’s forte. Consistently good sales and a general increase in brand awareness has led the management to rethink its strategy and start stocking at national retailers as well. Canada Goose’s ability to combine jackets that were chic yet fully functional is the company’s differential advantage. The industry has many competitors, both high end brands which sell jackets at higher price points than Canada Goose and others that were driven by functionality and sold for lower prices. However the company felt unthreatened by both. An unlikely indicator of brand strength for Canada Goose would be the fact that the company is plagued by piracy and counterfeit issues. Although by itself it is a bad thing but it speaks volumes about the fact that the brand is popular and has a high enough demand that pirates want to mint money by using Canada Goose’s iconic brand. Student ID: 7095822 Page 2 of 7

The fact that these jackets are made in Canada are another aspect that add to the brand’s strength. This appeals to the locals by inciting patriotism and for international customers it adds to the products authenticity – who would no winter outerwear better than Canadians? Once a brand has orders coming in, products being sold at higher prices than the MSRP, repeat orders during one season and organic band expansion to international markets it means that the brand is fully developed on a sound and stable footing. Canada Goose has achieved just that. Brand loyalty is at an all-time high, people think it’s chic and fashionable to wear the company’s jackets and even the company’s round logo with a map of the Arctic is extremely popular. Reiss and his team have indeed developed an enviable brand in Canada Goose and from here there is only one way to go to – forward. Question 2

Canada Goose is truly at an enviable position at this point in time. The brand commands excellent sales, has immense awareness and demand for its products actually is far more than the supply. There are certain advantages that come along with such brand strength, I’ll discuss three of these in what follows. Ability to Innovate

The company has shown excellent numbers ever since Reiss took over as CEO and is financially in a position to reinvest profits into developing n...

Read more

Keywords

1 10 100 170 18 2 20 2001 2010 28 3 4 40 4000 5 50 6 60 7 7095822 8 9 abil abl accept account achiev across actual ad adapt add addit address adopt advantag advertis affluent afford age ahead aid all-tim allay allow almost along alreadi also altern although alway amongst anoth anyon anyth anywher appeal appl approach appropri arctic aren around arsenal asia asian asmun aspect aspir asset associ assum astound athelt attempt audienc aura authent autonom autonomi avail averag avoid awar back bad balanc ballgam band bar bargain base bear becom begin bellhop benefici benefit best better big bigger biggest bolster bomber bouncer bound branch brand breadth bring brought budget bulki burden busi buy campaign canada canadian capabl capac card care carri case centric ceo certain chain chanc chang channel charg chic chilliwack choic choos christma class clear client climat close closest cloth cold collabor color combin come command common communic compani compar comparison compet competit competitor complet con concern condit confer conflict consid consist continu contract control coordin copi cost could counterfeit countri criteria cultur curat curb current custom cut dani date deal dear decad decid decis decreas deem definet definit deleg deliv demand depart depth design desir despit deter detriment develop devis dictat didn die differ differenti difficult dilut disappoint discount discrimin discuss dispos distinct distribut distributor divid done doormen downtown draw drawback driven due earli earn easier easili economi edg effect effici either email empir end engag enorm enough ensur enviabl equal especi essenc establish europ european evalu even event eventu ever everi evolv exampl exceed excel except exclus exist expand expans expansion/buying experi expos extens extrem face fact fairmont fake famous far fashion favor feel felt fierc file financ financi find first fit five fledg flexibl focus follow foot foretel fort forward four freedman frequent full full-fledg fulli function further futur g8 gain general genuin geograph geographi get giant give given go gone good goos great greater greeter group grow growth guarante guid hallmark happen hard harder harm harmoni harvest help henc heritag high high-end higher hire histori home hotel howev icon id idea imag immens implement impress incent incit includ incom increas inde independ indic indirect industri influx initi innov instanc instead intens intern inventori investig ire isn issu jacket japan junctur keep key knowledg lack larg larger last law lead leader learn least led legend lend less leverag levin like limit line ll local locat logo long loos loss lot loui lower loyal loyalti lucki lure luxuri made maintain make male manag mani manufactur map market markup match materi matter maxim maximum may meagr mean meet member men men-centr menac menswear mention merchandis micromotor might mile minist mint miss mitig mix mm model modifi monetari money mouth move msrp much multipl nation nationwid natur near necessari necessarili need net network never new newer night north nowher number numer nurtur obvious offer offic often old one onlin ontario ontario-bas open oper opinion opportun option order organ other otherwis outcom outerwear outfit outlet outsid outstrip over-reli overbear overtak own owner page pale part parti patriot pay peak peopl per perfect perform persona phenomen piraci pirat placat place placement plagu plan point polici popular pose posit possibl potent potenti power prefer premium presenc present prestig price principl print privileg probabl product profil profit program promin promot prong proof proper prototyp prove provid public purchas qualiti question quick rais rake rate rather reach realli reap recent recognit refus region regist reinvest reiss reject relationship reli relianc reorder repeat replic repres reput request research resourc respond respons result retail rethink revamp revenu revis rid right rigid rise risk root round said sail salari sale satellit satur say scale scandinavian score season second seem select sell seller semblanc serv servic set sever share shop shouldn shown sign signific simul sinc situat small smaller social sold solut solv someth sooner sought sound souvenir speak special spell split sponsorship stabl stagnat stand start status stick still stock store strategi strength strengthen stretch strike strong student style subsequ success sudden suffer suggest suicid suit sun suppli support surpris sweden symbol synonym system tackl tactic talk tap tast teach team technolog tenac term testament thing think third thorough threat three time togeth told took tool toolkit topic total tradit translat trend tricki true truli turn two type ultim uncommon underscor unfair unlik unsuspect unthreaten upfront upgrad us use user usual util utilitarian valu valuabl vari variat veil ventur verit visibl visionari visit volum vuitton want warmer way weapon wear weather weekday weekend well well-establish went weren westboro whole wide wider winter without women won word work world would wouldn year yet younger