Wednesday, August 28, 2019
Leslie Fay Case Study Essay Example | Topics and Well Written Essays - 2500 words - 1
Leslie Fay Case Study - Essay Example The essay "Leslie Fay Case Study" tries to deeper understand what happened at the Leslie Fay Companies by analyzing the business organization. The first four are geared in the strategic aspect of the firm. Prior to the audit failure, Leslie FayÃ¢â¬â¢s mission is to design, manufacture, and sell moderately priced and stylishly conservative womenÃ¢â¬â¢s dresses. The companyÃ¢â¬â¢s product lines are targeted to women aged 30-55 years old. Even though indirectly stated, the company has no plan of changing its products in order to cope with the emerging trends. The company opts to stick with its current fashion statement. In order to pursue its vision of staying on top on the industry, Leslie Fay utilizes a strategy of designing and manufacturing products by trusting the instincts of the designers. It should be noted that as opposed to other industry players which rely on customer preference, the business organization opted to create what is fashionable for the customer. The whole marketing mix of Leslie Fay can be stated as offering fashionable clothing at a moderate price in department stores and enhancing a customer experience by offering seasonal discounts. Armed with this strategy, Leslie Fay captures its market niche and creates strong brand equity. In terms of financing, the firm relies both on liabilities and equities. It can be recalled that Leslie Fay banked on its prominence and profitability and went public in as early as 1952. The technology is seen as insignificant in the operation of Leslie Fay.