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March 24, 2016 | Author: | Posted in mathematics and economics

Essay October 9 , 2006

Marketing Research Report-Baby Phat

Purpose of the Research

Given the complex nature of the modern business world , and the seemingly overnight success of some firms , this research was prepared in an effort to present information about one of these firms , Baby Phat Clothing , as well as problems currently facing the organization possible solutions available for those problems , as well as a choice of solution and the implementation of the chosen solution itself . All of this will be done within the scope of The Pisco Format and recently [banner_entry_middle]

br studied marketing principles . At the end of the research , a Conclusion section will summarize all of the research and findings contained herein

Information About Baby Phat , Inc /Problems Facing the Organization

At the risk of using worn out slogans , Baby Phat is truly one of the classic American success stories of the business world . The company was started in 1998 by Russell and Kimora Lee Simmons as one part of what would ultimately become a billion-dollar empire (Baby Phat Clothing This clothing line became hugely successful in no small part due to the Simmons ‘ vast experience in the lucrative world of hip-hop , urban based music . With this knowledge base as the cornerstone , Russell and Kimora Lee created a fashion sensation which combines the styles that the rich and famous of the world prefer with an edgy , urban-flavored flair , with a taste of the original fashion statements that early hip-hop musicians (Russell Simmons among them ) made when appearing in concert before thousands of fans , or in their latest music videos , literally beamed around the world by satellite television systems and channels like MTV and VH-1 . By exposing urban fashions to those who have the financial means to purchase high-end fashion , a dynasty was born , and in a short few years , has taken on a life of its own

As a side comment on the beginnings of Baby Phat , it is interesting to consider that the company , by its unique nature , created a new method of branding and price setting . With no frame of reference , the affluent Baby Phat target market willingly paid high prices in the early days of the product line , clearly identifying Baby Phat as a unique company from the start (Hughes

Given the fact that Baby Phat has enjoyed a short road to success on its own terms and every indication of growth opportunities going forward , the road that lies ahead for the firm may very well be one of its biggest obstacles simply stated , there is a problem in that Baby Phat may fade from popularity if styles and preferences among the trendsetters of the world start to change (Chappell . Because of Baby Phat ‘s association with hip-hop music and culture , if the taste for hip-hop dies , so too could the Baby Phat empire . This problem has come to be as a result of the ever-changing taste of the consumer , which has made planning , implementation and control of marketing strategies exceedingly difficult

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