Samsonite – the Global Luggage Market
The global luggage market expands at steady growth of almost 6% annually, which offers high growth potentials for key market players. Today, luggage and related luggage products are not just useful products, but they are also considered as fashionable accessories to enhance a travelers’ comfort & convenience.
Reaching the maturity phase, the luggage industry key market players are attempting fiercely to safeguard their position in the market, uncover new potentials, and make the best use of technology and innovation to present new offerings that address the needs of customers and solve their problems. The past years have witnessed intense competition that have brought up various offerings of innovative designs and features, however, each player is still trying to uncover new potentials to overcome this phase of matured products. Driven by this motive, Samsonite, as a market a leader, has unforeseen a promising potential in expanding in the middle east, and particularly the Egyptian market, a market that is characterized with a large number of populations, with highly diversified needs and different levels of economic resources. The environmental analysis has suggested that Samsonite competitive advantages of solid expertise, innovation, and strong brand awareness can contribute to enhancing its chances compared to competitors to uncover what might represent a possible need for this market and has not been tackled yet by other market players. However, it might need to adopt some strategies to face the possible threats or challenges that might exist within this new market.
The situational assessment has uncovered that the most irritating and disturbing nightmare for any traveler is having their luggage lost or mishandled, which could ruin their trip and consumer them so many time and money to make up for their lost stuff. Researchers have reported that about 7.3 bags per 1000 passengers get mishandled every year.
The firm has found that introducing an innovative product that address this key problem will enhance the company chances to penetrate a new market with an extended product that satisfy the needs of the target market, and address one of the key pressing needs of today’s travelers. The marketing plan presented here is reporting the findings of our environmental analysis, the strategies we will be adopted to segment the market and identify our target market, how we are e positioned in the minds of our customers, and the tactics we are going to use to satisfy the market needs identified during the first stages of the marketing plan.
Company Background:
Founded by Jesse Shwayder more than 100 years ago, Samsonite International S.A is considered the world’s largest travel luggage company operating in more than 100 countries (1). In 1910 in Denver, Colorado, Jesse Shwayder,