Marketing Assignment Example | Topics and Well Written Essays - 1750 words

Marketing - Assignment Example Brands aimed at the high tier market moved on to defensive mechanisms like slashing prices, holding discreet sales or moving into completely new product lines even as they battled massive debts and decreasing popularity. While fashion brands like Ralph Lauren, Donna Karan, Calvin Klein, Dolce & Gabbana and Armani were the pioneers in introducing secondary mid-priced brands for a secondary target market, others brands soon followed suit. However the diversification strategy was a double edged sword, with the perception of people being either that the brands were diluting their essence and the ‘luxury status’ that they stood for or that there are simply too many, too outrageously priced luxury brands in a market where they shouldn’t be. Cheap chic and e-shopping have become the reigning trends in the industry and as the local customer becomes more price savvy and inclined towards individual fashion choices, luxury brands have become something of a frivolous fantasy for the masses. But humans naturally gravitate towards things which sparkle and which may provide them with a kind of prestige and glamour; they just don’t want it to be a diluted version of old luxury or completely out of there budget. We are launching a new clothing label for the people who want the good things in life, want them to be available with convenience yet delivering a unique and customized experience with the purchase. BlackSilk © clothing label will carry items like cocktail dresses, semi-casual evening wear, formal wear for the work environment. The core strength of the brand will be good looking, good quality products with the option of customization and ease of availability through a completely integrated online store. The cost structure will be flexible, with a certain sum set for the template clothing and extra cost for any other additions the customer might want to make. The emphasis will be to merge the look, style and grace of the ‘roaring twenti es’ with the wearablity and sensible use as required by the fast paced modern life of the 21st century. The Core Value for customers will be the affordable luxury while the Actual Products will be BlackSilk © clothes, which will have a high quality and a focus on the aesthetics along with the option of customization such as our very crucial offering of Tres grande option for customers who are sizes 14 and above. This is keeping in line with the recent trends in the American health and lifestyle which show a shift towards higher weight and body mass in the general population. We would want to offer the same style and convenience to a size 2 or size 16 customer and make them feel comfortable with the choices we have on offer. The Augmented product offering would include getting customer feedback and giving them the option of changing their customization options within 30 days of purchase (exclusive of delivery time) or having the same kind of options replicated on a different template dress for a discounted price. The market segmentation for the clothing line will be done on the basis of demographics and psychographics with a niche marketing strategy initially which would be converted to a differentiated strategy once we have reached a core group of customers and the level of recourses are feasible for that. Primary Target market: Age: 21-45 Income: Varying;