Final Answer:
All of the mentioned statements are correct regarding the market for Coach's products In Japan compared to America except for (Option E) Coach has to work on improving its brand image in Japan.
Step-by-step explanation:
In Japan, Coach has already gained a significant foothold in the market, and while there might be areas to refine, the statement that suggests Coach needs substantial work on its brand image in Japan (option E) is the one that doesn't align with the realities. Coach has made strides in establishing its brand in Japan, focusing more on sustaining and enhancing its existing image rather than fundamentally improving it from scratch.
The other statements, such as the brand-centric nature of Japanese consumers, the tendency to carry multiple brands, the popularity of certain products like the $500 handbags among young women, and the general market dynamics, are relatively accurate representations of Coach's standing and consumer behavior in Japan as compared to the American market.
Correct answer: (Option E) Coach has to work on improving its brand image in Japan.
Complete question:
Japan is Coach's second largest market, representing about 20% of global sales. All of the following statements are true regarding the market for Coach's products compared to that in America except:
- A) Japanese consumers are enormously brand-centric.
- B) Japanese consumers are not as brand loyal as American consumers.
- C) American women tend to carry two or three brands while their Japanese counterparts tend to carry as many as five.
- D) The company's $500 handbags are especially popular with young women.
- E) Coach has to work on improving its brand image in Japan.