As discussed in the previous paper, the company has retail stores in the United States and Australia. Considering the current position of the Trendy Fashionista, it is better for the company to develop a unique product branding strategy to market its new light weight traveler bags. According to the unique branding strategy, only one product manufactured by the company is marketed under a particular brand. When several products are marketed under a brand (corporate branding strategy), the brand image would be affected if any of those products fails to meet quality standards or performs poorly. The unique branding strategy would prevent this situation and assist the Trendy Fashionista to promote its new product lines effectively. However the company may adopt a range branding strategy, which is a mixture of unique branding strategy and corporate branding strategy while operating in a global market context. Pricing Strategy It is a great challenge for the Trendy Fashionista to design a pricing strategy for its newly planned light weight bags because this business concept is new and therefore market uncertainty is high. In this context, it is advisable for the company to practice the price skimming strategy to deal with brand positioning effectively. Under the price skimming strategy, the marketer sets relatively higher prices for his products initially and lowers the price over time. At the initial stages of the product launching, this pricing strategy would assist the Trendy Fashionista to justify its superior product quality. In addition, this optimal pricing strategy can benefit the organization to recover its sunk costs quickly before the market competition becomes intense. As Lamb, Hair, and McDaniel (2008) point out, the major objective of price skimming strategy is to capture the consumer surplus. If this pricing strategy is executed properly, then no customer will pay less than what they are actually willing to pay (p. 600). Connection between Pricing Strategy and Branding Strategy The Trendy Fashionista’s price skimming strategy really supports its branding strategy. It is clear that only one product item is marketed under a brand under the unique branding strategy. While the firm adopts this branding strategy to promote its newly planned light weight bags, the customer would obtain a feeling that the company gives specific focus to this product and therefore the product will be of superior quality. In other words, this policy can assist the organization to achieve a reputed brand image and thereby make the brand easily recognizable in the market. Customer between the age of 20 and 35 are fashion-minded and hence they would be willing to pay higher prices for top quality products. In short, the price skimming strategy can benefit the organization to take greater advantages of the unique branding and hence to promote its business interests. Distribution Channel Analysis The Trendy Fashionista’s distribution channels include wholesalers, distributors, retailers, catalogue sales, personal sales, and over the phone sales. Currently, the company has limited manufacturing capabilities and therefore the firm has to largely depend on offshore manufacturers. In order to address the issue, the organization plans to extend its manufacturing facilities through developing its own production plants. Undoubtedly, this practice would
Branding, Pricing, and Distribution (Name) (University) (Date) Branding, Pricing, and Distribution Introduction The Trendy Fashionista cannot sustain its light weight bags business successfully unless it pays particular attention to developing competitive branding, pricing and distribution strategies…
rs for both personal and non-business use. A retailer or the retail store can be determined as a business entity whose sales volume generally comes from retailing. It can be stated that an organization making its goods and services available to the final consumers be it manufacture, wholesalers or retailer is said to be doing retailing.
The Ford Escort was introduced into the global market in 1981(OrlandoSentinel, 2011). It was either a two-door hatchback or a four-door wagon equipped with a front-wheel drive. Other features included an independent suspension system, rack and pinion steering and a four cylinder engine.
This research will have to analyze the wants and needs of the customers to facilitate penetration as a pricing strategy. According to Armstrong and Kotler (2008), market penetration is a strategy used by companies that are growing. The main reasons as to why the company in the question chooses market penetration are that this strategy increases sales and reduces the risks involved in the new market.
In all probabilities, consumers believe that the national brands are typically of higher quality. Whether this belief is factual or not is irrelevant to the outcome in the market, as long as consumers believe it. There is very small difference in quality between some national brands and private brands; yet consumers pay more for the national brands.
Print advertising is a time honored conventional medium that allows product manufacturers to prompt customer response in a very specific and focused manor. One of the best examples of harnessing and conceptualizing it in a visual print advertisement is Apple‘s innovative iPhone Campaigns.
Thus a brand constitutes a symbolic embodiment of all the values that a corporate stands for and its represents information connected to a company. The term brand name is often used synonymously with the term brand, but brand name is usually used to denote the written or spoken linguistic elements of a brand.
The Lantus was ranked as the 15th top-selling pharmaceutical product in Germany in 2007. Financial information reflects that this product alone created nearly 3,000 jobs in Berlin and Frankfurt-Hochst. The company also achieved sales of €1 billion
The marketers use a consistent theme when doing product branding to achieve consumer loyalty and trust in the product. A brand on the other hand is the image or idea about a specific service/product that
What is critical to note however, is the fact that organizations have to decide based upon the hierarchy of the different brand strategies out of which the firm has to actually choose and implement at the global level.
It is also
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